TSP’s Head of Wills and Estates, Fiona Ashworth, and Nicola Ashby (GCILEx) join Dream 100’s Murf (Jonathan Murphy) to discuss the importance of making a Will and, in particular, the importance of appointing guardians for your children in your Will.
In the first of a 3 part series Fiona and Nicola chat to Murf about
- The importance of making a Will
- When to start thinking about making a Will
- Should you have a Will if you feel you have nothing to leave?
- Leaving dependant children behind – who looks after them?
- Appointing a guardian for your children in your Will
- Why you should appoint a guardian in your Will? And,
- Who to choose as guardians for your children
In part 2 Fiona and Nicola discuss guardianship in further detail. They talk about
- Asking the permission of your chosen guardian
- How the guardian will support the children financially
- Creating a Will Trust and appointing trustees
- Extending the age limit of guardianship beyond 18
- Are Trust Funds only for the wealthy?
- The cost of creating and managing a Trust
- Other things to think about – a letter of wishes
In part 3, Fiona and Nicola explain what it means if you don’t have a Will and some of the other aspects involved in making a Will
- Implications of not having a Will
- The misconception that is ‘common law marriage’
- Who you can leave your estate to and the Rules of Intestacy
- Unclaimed estates
- Other things to consider when making a Will e.g. funeral wishes
- Where is your Will kept?
- Can a Will be amended and how complex is it to do this?
- How often should you review your Will?
If you have any questions regarding guardianship or creating a will, you can contact either Fiona Ashworth on Fiona.ashworth@tsplegal.com or 01206 217057 or Nicola Ashby on Nicola.ashby@tsplegal.com or 01255 254243.
