This month our thoughts have been directed towards yet another major event for our Royal family – the birth of Prince George.
Prince George will inherit title, privilege and ultimately the responsibilities that come with being King of England. Our own little princes are unlikely to be in line for anything quite as grand but the birth of your first child will make you think about his future. You’ll think about his education, his health and even his future career. Most of us though won’t think about what would happen to him if we weren’t around. We know this because 70% of us die without a Will and many of these are parents.
Put bluntly, the arrival of your first born is a time for making a Will. Without one, there will be no provision to deal with who should care for your child in the event of your death. Many of you would cringe at the thought of your interfering mother-in-law / hippy sister-in-law / dodgy brother / goth-like-cousin-you-barely-speak-to bringing up your child, yet lots of us fail to make a Will to prevent this from happening.
It won’t matter that you bribed your sister under pain of death that she is to look after Little Johnny and that ‘Granny Grim’ is to have no input whatsoever! The harsh truth is that ‘Granny Grim’ may have as much chance as anyone else in the family.
We all know what Prince George will inherit and we like to think we know what our children will inherit from us. However, if we die without a Will, not only have we failed to determine who will care for our children, we have failed to make safe their financial future. The government applies a set of rules which dictate which of your family members will benefit from your estate – these won’t necessarily be the people of your choosing.
We live in a world where second marriages and second families are commonplace but the law doesn’t always live there with us. If your family set up is not absolutely conventional, your loved ones could be at higher risk of losing out.
None of us like to think about going under the Number Seven bus and leaving our family behind but those of us who do think about it are less likely to have to come back and haunt the ‘Granny Grim’ who I know you’ve been thinking about since I first mentioned her!
If, like Kate and William, you have just had a new baby but don’t have a Will and you would like some legal advice please contact Venisha Shah on 020 8899 6620 or contact her at email@example.com