Many people think that writing a will constitutes a final act; something they do before they die. However, more people are writing wills at younger ages, especially if those people own property and businesses. It is important to update your will when certain changes occur in your life, for example - having your first child. Here are some things to think about when writing your first child into your will.
What would you like to leave your child?
Aside from the obvious point of ensuring that they are well provided for by leaving part of your estate to them, are there any particular heirlooms or family possessions that you would like to pass on? Using your will to keep family traditions going is a nice thing to do, so it is worth thinking about things other than property to leave to your child.
Appointing a guardian
It isn’t a nice subject to approach, but something could happen to you and your partner, meaning that your child would be left without a parent. It is vital that you use your will to stipulate whom you wish to take over caring for your child in your absence. If this is not mentioned, then care of the child would be passed over to the courts to decide, and this is not something anyone wants to happen. Although a will can be disputed, the question of whether challenging a will is the right thing to do always arises. So it is best to tackle this situation early, to avoid any problems with the court.
Inheritance Tax
If your estate is valued over a certain amount (£325,000 at the time of writing in 2013), then 40% tax is levied on your estate. Although your spouse or civil partner is exempt from having to pay tax on anything you leave to them, your children are exempt from this rule and anything you leave to them will be subject to tax.
Once you have revisited your will, and got these important things out of the way, then you are free to enjoy the happiness that the birth of a new child can bring. Visit specialist solicitors like Disputingwills.co.uk on inheritance queries you may have.
My beautiful boy! You are two years old. This past year has been quite a difficult one for me because of the loss of my parents and I never would have survived it without you.
You have brought so much joy to our family in such a hard time. You make everyone laugh and smile.
I still can't get over how chatty you are. You love to talk and are very silly. You have always loved to entertain and meet people.
You have the bluest eyes like your Daddy and pinkest cheeks like your Mommy and PaPa.
You randomly will ask for someone in our family and go through everyone in their immediate family and ask where they are as well. I think it is so funny that you know who goes with who.
You are very busy and love exploring. I really love how independent and outgoing you are. Your favorite thing to do is play in the backyard, you are obsessed with your water table, trike and coupe.
You have been taking swim lessons and gymnastics. You love gymnastics, swim lessons not so much. You like to swim with us but have started hating going to class. You like to jump in the pool and will go all the way under the water and just recently was able to swim to me.
You refer to yourself as "Baby" which I find super funny and cute. You love doing more things on your own like buckling your carseat chest clip. You will say "Baby buckle".
For todays TBT I am writing about all my favorite bands and groups growing up. I got the idea from Liv, Laugh, Love's challenge of the day which is Music!
Ok so if you are a girl and grew up in the late 80's and 90's these might be some of your favorites as well!
Ok, I know, I am such a dork but I loved me some Hanson. I mean MMBOP was my jam! I may or may not have also had their Christmas CD :-x
TLC was one of my favorite girl groups. My sister and I would play our TLC CD in the front yard and pretend to be them in "Don't Go Chasing Waterfalls". Looking back I wonder what people must have been thinking driving by seeing these two weird little girls singing and dancing in their front yard.
This one makes me laugh because we play the crap out of the Buffy and the Vampire Slayer Soundtrack. Did anyone besides us have this?
Now I know you all had this CD! I mean who didn't love a good No Doubt CD on Spring Break in middle school? I will never forget seeing them perform Spiderwebs on MTV's Spring Break and thinking Gwen Stefani was the coolest chic ever!
Oh LFO, you were my designated Fall CD. I still to this day play LFO when Fall starts. It will forever remind me of my sister getting her Kia Sportage and us driving around with the top down jamming out to Girl on TV
This one should be no surprise. If you lived through the 80s, 90's and even now you have to be a fan of Aerosmith. If you aren't then I feel sorry for you because you are truly missing out. Their music videos were on constantly when I was a kid. I remember thinking Alicia Silverstone was the most beautiful girl ever whenever she was in one of their many music videos.
Saving the best for last but come on, NEW KIDS ON THE BLOCK were the bomb! Their cheesy rat tails, their awesome dance moves, and telling kids "Don't do drugs" at their concets, whats not to love?
My sister and I got to go to their concert when we were 8 and 9 I think. My Mom got us tickets for my sisters birthday and we were so excited. Her party was New Kids on the Block theme and if I can find the pictures I will post them because they are epic! Everyone was dressed in their best NKOTB shirt. We also had the dolls, cartoons (please tell me you remember their cartoon!) and basically anything else NKOTB worthy.
So what was your favorite bands, musicians and groups when you were growing up?