New Parents - Why do you need a will?

So, you've just started a family, it's exciting, it's scary and it's a huge life change, and it comes with a newfound sense of huge responsibility.

Amidst the excitement, the sleepless nights and the visitors, it's easy to overlook the importance of estate planning. However, creating a will is not just a task for the distant future - it's a crucial step in safeguarding your family's future (especially as new parents).

A Will would allow you to:

• Appoint guardians for any children under 18 at the time of your death.

• Ensure your estate passes fully to your children, and anyone else you may wish to benefit.

• State what age your children (or other beneficiaries) should receive their share of your estate.

• Appoint trustees, who will look after the estate assets and funds until your children reach this age.

• Set out the rules for management of the funds held for your children, including releasing funds early to ensure your children can be well provided for.

Did you know?

• If you do not have a Will, your estate will pass under the rules of intestacy.

• Even if the rules suit your wishes right now, they may change in the future.

• A Will will ensure your wishes are carried out even as these rules update over the years, and allow you to appoint guardians and trustees of your choice.