Useful Advice

Naming Ceremonies – other points you might want to consider

We hope that the following points are helpful to you and if you require any more specialist help we are happy to recommend http://www.mysafepassage.co.uk/ on 0800 096 4295, who have kindly supplied this information.

Making a Will

Now that you have a child, you do NEED a Will. Although you will not be thinking about death or serious injury right now these things do happen and when they do people have generally not prepared their estate for it. More often than not what they would like to happen to their property, money and children is not allowed by law!

The simplest solution to this problem is to make a Will. The ‘deal’ with the Government in the UK is this: Either you make a Will and let the Government know what you want to do with your things when you die OR they will take control of everything you own and distribute it the way they think is best.

If you make a Will there are very few restrictions on what you can do but if you don’t make a Will the Law says you have died ‘Intestate’. The Government will then dictate what happens. The Intestacy rules date back to 1925 and are not particularly relevant to today’s society and family structures. If you die Intestate, neither you nor your family will have any control over who gets your money, property and belongings and you will have no control over who gets to look after your minor children.

The Supporting Adults identified in your naming ceremony have no legal status unless you also name them in your Will as guardians. If you don’t appoint guardians in your Will and your children are orphaned before they reach 18, the courts will appoint guardians instead, but they won't necessarily choose the people that you would have preferred to take care of your children.

If the other parent of your children survives, the surviving parent will normally continue to have full responsibility for the children. However, if neither parent survives, the guardians you have appointed will take on the responsibility for your children.

By appointing guardians you can ensure that your children are looked after by the people that you have chosen as the best people for the job.

Legally adopted children are dealt with as if they were your own child but they should still be mentioned in your Will if you wish them to inherit.

Without a Will your friends, Charities you support, your co-habitee and any step children will NOT inherit anything at all from you. Without a Will, if your assets exceed the Inheritance Tax limit your estate will pay the full amount of tax.

Death or Serious Injury in the future

If you were to die that causes one set of problems but what if you are alive but unable to make your own decisions E.g. Incapacity caused by dementia, stroke or other illness or Incapacity by being in a coma after an accident at any age. In either case you are still alive so you have to make decisions about your things, bank accounts, property etc.

You may want to consider making a ‘Lasting power of Attorney’. There are two types of Lasting Power of Attorney:

1) Property & Financial Matters

2) Health & Welfare matters

Further information is available from http://www.mysafepassage.co.uk/

Disclaimer

The information produced here is general and for guidance only, you should take individual advice about your own personal circumstances.