Why having a valid Will is important for parents

If your children are under 18 you can name guardians in your Will. This allows you to say what you want to happen if you die. If you don’t do this, the family courts might have to decide what happens to them. 

 

It’s important to make provision for your children or stepchildren in your Will, especially if you aren’t married to their other parent or you’re in a civil partnership. Then you can make sure your family is supported as you would wish. 

 

You can appoint a ‘testamentary guardian’ in your Will or in a signed written statement. They must be at least 20 years old when you die. They won’t provide day-to-day care, but they can make major decisions about your child’s upbringing. If your child’s other parent is a guardian and is still alive, then a testamentary guardian can share guardianship with them. 

 

It’s also important to make plans in case both parents die. Local authorities often prefer immediate family, such as grandparents, aunts or uncles to look after children but it isn’t automatic. Your children’s guardianships will end when they are 18, so you also need to think about financial provision for them as they grow up. 

 

If you die, your child’s remaining parent or their named guardians must meet the expenses of bringing them up. You might need to think about the different needs of partners and parents in blended families. You’ll want to provide for your children, stepchildren and anyone else who relies on you financially. This could include other children that you look after, such as foster children. You might also consider any adults who depend on you or disabled children who might need continuing support as adults. 

 

If you have life insurance policies, a pension scheme or other assets that are held in trust, you must tell the provider who you want to benefit from them. These aren’t passed on in your Will. 

 

If you die before your children are 18 any assets you leave are held in trust for them. This means you need to choose someone to manage the trust on their behalf. They will rely on them to protect their interests and help them plan for the future. 

 

Your children can receive an allowance as they grow up but can’t withdraw money without their trustee's approval. You can specify when you want them to inherit, say at 21 or 25, for example. Otherwise, they will gain control of their assets when they’re 18. 

 

If you get married or enter into a civil partnership, your existing Will becomes invalid, so you’ll need to make a new one. 

 

If you have plans to marry in the near future, you can include your partner’s name in your Will which is valid before and after your marriage. You can also include provision for any children you already have.