Having a baby changes your life in all sorts of ways. Suddenly, there are new routines, new responsibilities and plenty of things competing for your attention. Making a Will might not be at the top of the list, but becoming a parent is one of the most important times to think about what would happen if you were no longer there.
For new and expecting parents in Wokingham, making or updating a Will gives you the opportunity to put clear plans in place for your child. It can help you decide who you would trust to care for them, how you would like their inheritance managed and who should be responsible for carrying out your wishes.
It isn’t about expecting the worst. It is simply about making decisions now so that your family has clarity if they ever need it.
You can choose who you would want to care for your child
For many new parents, this is the most important reason to make a Will.
A Will allows you to name the people you would like to act as guardians for your children if both parents die while the children are still under 18.
Choosing a guardian is understandably a big decision. You might consider a sibling, another relative or a close friend. It can help to think about practical questions as well as your relationship with them. Would they be willing to take on the responsibility? Do you share similar values? Where do they live, and what would becoming a guardian mean for your child’s day-to-day life?
You should also speak to the person you have in mind before naming them.
Putting your wishes into a properly drafted Will provides important evidence of who you would want to take responsibility for your child. Without appropriate arrangements in place, decisions about your child’s care could be more complicated at an already incredibly difficult time.
A Will helps you provide financially for your child
Your Will is also an opportunity to decide what should happen to your money, property and other assets.
Children under 18 generally cannot take control of an inheritance themselves. Your Will can include arrangements for assets to be held and managed for them until they reach an appropriate age.
This gives you an opportunity to think about questions such as when your child should receive their inheritance and who you would trust to manage it in the meantime.
There isn’t a single arrangement that suits every family. A solicitor can explain the available options and help you decide what makes sense for yours.
Don’t assume everything will automatically work itself out
When there is no valid Will, the intestacy rules determine who inherits an estate.
These rules don’t know anything about your personal wishes or relationships. They simply apply a legal formula.
This can be particularly important for parents who are not married or in a civil partnership. An unmarried partner does not automatically inherit under the intestacy rules simply because you live together or have a child together.
For families in this situation, making a Will can be especially important.
Even for married couples, relying entirely on the intestacy rules means allowing the law to determine what happens rather than making those choices yourself.
Already have a Will? A new baby is a good reason to review it
Perhaps you were organised enough to make a Will several years ago. That’s a great start, but the arrival of a child is a significant change in circumstances.
Your existing Will may have been written before you had children, or it might name guardians who are no longer the people you would choose today.
You may also want to reconsider your beneficiaries, Executors or how an inheritance should be managed for your child.
This doesn’t necessarily mean every part of your existing Will needs to change. Having it professionally reviewed can establish whether it still does what you want it to do.
The same applies when a second or third child arrives. Your Will should continue to reflect your family as it grows.
What if you’re expecting a baby?
You don’t necessarily need to wait until your baby arrives before discussing your Will.
Pregnancy can be a sensible time to start thinking about your family’s future, particularly if you have never made a Will before.
There is already plenty to organise after a baby arrives, so dealing with some of the practical planning beforehand can make things easier. It also gives both parents time to properly consider important decisions rather than trying to squeeze them in between feeds and sleepless nights.
For some couples, becoming parents is also a useful opportunity to consider their wider future planning, including whether a Lasting Power of Attorney would be appropriate.
A Will and an LPA perform different jobs. Your Will deals with what happens after your death, while an LPA allows trusted people to make certain decisions on your behalf during your lifetime if necessary.
What should new parents think about before making a Will?
You don’t need to arrive at your first appointment with every answer worked out.
It can, however, be useful to start thinking about:
- Who you would want to act as guardian for your child
- Who you trust to be your Executors
- Who should benefit from your estate
- How you would like your child’s inheritance to be managed
- Whether there are particular possessions or gifts you want to leave to someone
- Whether your family circumstances require any additional planning
If you and your partner are making Wills together, you can discuss many of these decisions as a couple. However, each of you have your own Will and should make sure it reflects your individual wishes.
Making a Will doesn’t need to be complicated
It is easy for new parents to postpone making a Will because it sounds like another complicated job at an already busy time.
In practice, getting started can be much simpler than you might expect.
At Elizabeth Middleton Solicitors, we help parents in Wokingham, Winnersh, Reading and the surrounding Berkshire area understand their options in plain English.
We’ll talk through your family circumstances, explain the decisions that need to be made and prepare a Will that records your wishes clearly.
There is no need to know legal terminology or arrive with everything planned. That’s part of what your solicitor is there to help with.
Give your growing family greater certainty
A new baby gives you plenty to think about, from childcare and sleeping arrangements to the mountain of things that somehow accompany one very small person.
Your Will deserves a place on that list too.
Making or reviewing your Will means you can decide who you would trust to care for your child and how you want to provide for them financially. More importantly, it gives the people closest to you clear guidance about what you wanted.
If you’ve recently welcomed a baby, are expecting a child or simply haven’t reviewed your Will since becoming a parent, Elizabeth Middleton Solicitors can help you put the right arrangements in place.