Looking after children in a will |
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Jane Cassell looks at how children are looked after and considered in a will.
Any parent of children under 18 years, should make provision for Guardians in their Will.
Who to choose?
Most parents know exactly who they would wish to bring up their children, if they both died. Some couples initially disagree about
who should be involved, but generally they can agree.
A good adviser will suggest having a back up plan to most aspects of your Will, including the choice of Guardians. So for example, it’s possible to say that in the event of both parents dying it should be a particular couple, but if that couple is unable or unwilling to act for any reason, then a different couple or individual.
It’s a good idea to include provision in the guardianship clause, that guardians should not be in a worse position because of taking on the role of bringing up your children. It’s not necessary to pay them, but if for example, a larger house is required for the period of bringing up additional children, then it should be made clear that those resources should be made available.
Co-ordinate with Executors?
One question that needs to be considered, is whether the Guardians, who may bring up your children, are also to be the
executors / trustees (who are in charge of sorting out the estate and running the trust of money for your children who are under 18 years).
A lot of people considering this question, will immediately know the answer. Guardians are chosen because of their nurturing nature, or
admirable family life. When selecting those people, it’s generally clear if those guardians are also the right people to run a trust, deal with financial paperwork and the like, or not.
Some people feel that the guardians should have control of the money, particularly if the decisions made, have an impact on how they live their lives. Others feel that the guardian role should be kept separate from financial issues. This question of whether to keep the two roles separate, will also to some extent be determined by the competency of the guardians, in dealing with paperwork, and organisational skills.
Single parents
If someone is the sole surviving parent, then it’s particularly important to appoint guardians.
If the parents relationship as a couple has ended, then it’s important to seek legal advice in relation to guardianship provisions. There are different consequences to being married to the other parent, or not having been married, and the consequential parental responsibility of the child or children.
Let Guardians know
Whereas the role of executorship can be delegated, and many solicitors, Probate services companies, and banks will be delighted to
take on what can be profitable work, the role of guardianship is something quite different.
Unlike obtaining the Grant of Probate, or estate administration, bringing up children cannot be delegated, and therefore it is sensible to have a conversation with your named guardians before Wills are finalised. This should not delay the signing of Wills, but the chat about the role, should be had with guardians.
Letter of Wishes
Just as it’s possible to write a Letter of Wishes dealing with items of jewellery or household items, it’s also possible to draw up a Letter of Wishes dealing with parenting issues.
To some extent, the style of parenting is selected when selecting the right guardians. However, some people feel the need to lay out clearly what they would want to happen, which may not be obvious to guardians dealing with the unfamiliar situation of taking in additional children.
The types of things people may outline, are that the children should be encouraged to play a musical instrument, or to ride horses or travel to their aunty in a certain country.
It is the experience of many advisers, that if a Letter of Wishes is wanted, it should be prepared in conjunction with the signing of the Will, so that it actually happens. It is rare for people to return to it after signing their Wills.
A vast majority of people however, genuinely take the view that the people they have selected to be their guardians, have been chosen exactly because they would know exactly what the parents would have wanted, without having to write such a Letter of Wishes.
Insurance
It is worth considering an insurance policy to deal with what would be required in the event of one or both parents dying, while young
children still need to be brought up. There are a variety of policies that can provide protection to a family, and in order to consider one that matches a family’s needs best, a legal adviser may have local companies they can refer you to, to consider this further.
It’s worth mentioning…
It’s worth mentioning that when people finally get round to dealing with their Wills, and know that they have made provision
for their family to include guardians, they speak of great relief and gratitude for finally doing what they know they needed to do.
It’s perfectly normal to have a bit of a discussion about a sister-in-law being too scatty or a brother-in-law not having a clue, but once that discussion’s been had and some decisions have been made, then it’s generally people’s experience that they know they’ve done everything they can, and it provides peace of mind that the Mastercard adverts would call “priceless.”
July 2012
Disclaimer:
Any parent of children under 18 years, should make provision for Guardians in their Will.
Who to choose?
Most parents know exactly who they would wish to bring up their children, if they both died. Some couples initially disagree about
who should be involved, but generally they can agree.
A good adviser will suggest having a back up plan to most aspects of your Will, including the choice of Guardians. So for example, it’s possible to say that in the event of both parents dying it should be a particular couple, but if that couple is unable or unwilling to act for any reason, then a different couple or individual.
It’s a good idea to include provision in the guardianship clause, that guardians should not be in a worse position because of taking on the role of bringing up your children. It’s not necessary to pay them, but if for example, a larger house is required for the period of bringing up additional children, then it should be made clear that those resources should be made available.
Co-ordinate with Executors?
One question that needs to be considered, is whether the Guardians, who may bring up your children, are also to be the
executors / trustees (who are in charge of sorting out the estate and running the trust of money for your children who are under 18 years).
A lot of people considering this question, will immediately know the answer. Guardians are chosen because of their nurturing nature, or
admirable family life. When selecting those people, it’s generally clear if those guardians are also the right people to run a trust, deal with financial paperwork and the like, or not.
Some people feel that the guardians should have control of the money, particularly if the decisions made, have an impact on how they live their lives. Others feel that the guardian role should be kept separate from financial issues. This question of whether to keep the two roles separate, will also to some extent be determined by the competency of the guardians, in dealing with paperwork, and organisational skills.
Single parents
If someone is the sole surviving parent, then it’s particularly important to appoint guardians.
If the parents relationship as a couple has ended, then it’s important to seek legal advice in relation to guardianship provisions. There are different consequences to being married to the other parent, or not having been married, and the consequential parental responsibility of the child or children.
Let Guardians know
Whereas the role of executorship can be delegated, and many solicitors, Probate services companies, and banks will be delighted to
take on what can be profitable work, the role of guardianship is something quite different.
Unlike obtaining the Grant of Probate, or estate administration, bringing up children cannot be delegated, and therefore it is sensible to have a conversation with your named guardians before Wills are finalised. This should not delay the signing of Wills, but the chat about the role, should be had with guardians.
Letter of Wishes
Just as it’s possible to write a Letter of Wishes dealing with items of jewellery or household items, it’s also possible to draw up a Letter of Wishes dealing with parenting issues.
To some extent, the style of parenting is selected when selecting the right guardians. However, some people feel the need to lay out clearly what they would want to happen, which may not be obvious to guardians dealing with the unfamiliar situation of taking in additional children.
The types of things people may outline, are that the children should be encouraged to play a musical instrument, or to ride horses or travel to their aunty in a certain country.
It is the experience of many advisers, that if a Letter of Wishes is wanted, it should be prepared in conjunction with the signing of the Will, so that it actually happens. It is rare for people to return to it after signing their Wills.
A vast majority of people however, genuinely take the view that the people they have selected to be their guardians, have been chosen exactly because they would know exactly what the parents would have wanted, without having to write such a Letter of Wishes.
Insurance
It is worth considering an insurance policy to deal with what would be required in the event of one or both parents dying, while young
children still need to be brought up. There are a variety of policies that can provide protection to a family, and in order to consider one that matches a family’s needs best, a legal adviser may have local companies they can refer you to, to consider this further.
It’s worth mentioning…
It’s worth mentioning that when people finally get round to dealing with their Wills, and know that they have made provision
for their family to include guardians, they speak of great relief and gratitude for finally doing what they know they needed to do.
It’s perfectly normal to have a bit of a discussion about a sister-in-law being too scatty or a brother-in-law not having a clue, but once that discussion’s been had and some decisions have been made, then it’s generally people’s experience that they know they’ve done everything they can, and it provides peace of mind that the Mastercard adverts would call “priceless.”
July 2012
Disclaimer: