As a parent, no-one knows better than you how your children need looking after, so that they feel safe, secure and loved. Should the unthinkable happen to you when your children are minors, can you trust they will be looked after in the way that only you know how?
By including a guardianship appointment and appointing trustees, it will ensure that they are.
Crucially, by including these clauses in your Will, it gives you control over your children’s upbringing by allowing you to appoint a guardian and stipulate at what age your children should inherit their trust fund. Your appointed trustees will have power to access money in the trust fund for the benefit of your children’s upbringing, for their continued development, educational and social advancement.
Civil Wills are experienced in advising on how to advise on safeguarding your children. We can offer guidance on what to consider when appointing a guardian or trustee and the position on any Inheritance Tax issues which might apply to a children's trust.
Caring for your disabled child
If you have a disabled child you will surely wish that their inheritance is used in a similar way to any able-bodied child; to fund enjoyable things that will improve quality of life. By setting up a discretionary trust you will ensure your child’s inheritance is not taken by the local authority, simply to pay for their future long term care. Their eligibility for welfare benefits may also be protected.
Your appointed trustees will have the authority to use the trust money in your child’s best interests. This may be for specialist care or for day-to-day expenses, treats and holidays. In the event of your child passing away, their legacy would be safeguarded for the next generation or surviving siblings, in accordance with your wishes.
Civil Wills can advise on guarding against local authorities attempting to overturn your Will and offer a solution to ensure that your disabled child’s inheritance will not be used to pay for long term care costs.
Parental Responsibility
Any father of a child born before 1st December 2003 who is not married to his child's mother will not automatically have parental responsibility for that child. This means that if the mother dies first, social services may become involved to formally appoint a guardian who may or may not be the child’s father, especially if there are applications made by the mother’s side of the family for guardianship.
This can all be avoided simply by the child’s mother making a Will appointing the child’s father as guardian or by entering into a Parental Responsibility Agreement or by the parents of the child marrying after the child is born.
Civil Wills can advise unmarried parents on how to ensure parental responsibility extends to the father by making a Will and/or entering into a Parental Responsibility Agreement.
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