Do my young children really need a Will?

I used to think that a Will was something you only had to think about when you’re life was coming to an end. That was until I read an article that stated that anyone who owns an asset needs a Will and probably a good time to compile your first Will is when you become a house owner or a parent whichever comes sooner.

I hadn’t realised that if you have young children and you die it’s left to the courts to decide who they are entrusted to unless you have appointed guardians in a properly drafted will. This frightened me into action so at the tender age of 28, I’ve taken the first step and booked an appointment with a local solicitor who has assured me that my children will be cared for and receive appropriate provision for financial support according to my wishes in my Will. Obviously I had to find willing volunteers to accept the role of guardians as it’s quite a serious undertaking to have to consider and not something to be taken lightly.

It emerged that another problem with me not having a Will was that my partner and I although living together are not married. This apparently complicates things further as my solicitor told me that a common-law husband or wife has no legal status so without a Will, their estate will be passed to the immediate family. All shocking stuff if you don’t realise the facts until it’s too late.

This entry was posted on Thursday, February 19th, 2009 at 4:13 pm and is filed under Legal Wills. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.