You asked

How should I update my will for my baby?

Updating your will (or putting one together) is a necessity when you have a baby. While nobody wants to think about their death, as a parent it is essential that you make a plan in case someday you are not around.
 
You must nominate someone to be legally and financially responsible for your child. If you don’t then your child may not end up with the person you would like to raise them. Or worse, they could end up in state care. If you wish you can appoint two people to be your child’s caretaker, but you can only appoint one if you prefer.
 
You must also state how you want your estate to be divided and what you want the money to go towards. You may wish a certain amount of money to be allocated to your child’s schooling and college fees. For your child to inherit your assets you will have to make them your beneficiary. However they will not have access to this until they are 18 so you must appoint someone you trust to manage the money until they turn of age, such as a relative or close friend.
 
If you do not allocate how you would like your money to be divided, the courts will follow a standard formula to divide it and there is no guarantee that your child will have the money that you wish them to have.
 
A good idea, while it can be more costly and more time consuming, is to have a separate will drawn up from your partner. That is because if you do not, the surviving partner is legally bound to the document you have created jointly. If their circumstances, and those of your children, change dramatically after you pass away, it may be difficult or even impossible for them to change the document you co-signed.
 
There are various types of trustee and guardian that you can choose for your child, as well as complex tax laws that need to be taken into account, so when the time comes to draw up a will, it’s always best to hire a solicitor, who can make sure that your best interests, and those of your children, are served. 
 
baby-names

More questions

Amniocentesis is a test which you can have between weeks 15 and 18 of your pregnancy. Amniotic fluid is extracted from your uterus and this fluid is tested for chromosomal abnormalities. Such tests will show...
You may not be ready to tell people that you’re pregnant just yet but it can sometimes be a difficult thing to hide. Your expanding body is the first give away but your change in lifestyle might also have...
Firstly, it’s important to remember that you are meant to gain weight while pregnant. Your body is doing this to keep your baby healthy and give baby the best start in life possible, so don’t worry...
Staying hydrated is essential when carrying a baby
 Ultrasounds have become the norm for all pregnant women but what exactly goes on?
A CVS is a very accurate early antenatal test that detects chromosomal abnormalities. With this diagnostic test, you will have complete certainty whether or not your baby has got a particular condition. 
 Creating your baby's nursery can be exciting, emotional and.....eco-friendly. 
A spot on your baby’s heart is an abnormal variant. Variants are simply variations in how a baby develops. Normal variants are very common and nothing to worry. Abnormal variants may not mean anything but...
Men can can often be worried about sex while their partner is pregnant
Updating your will (or putting one together) is a necessity when you have a baby. While nobody wants to think about their death, as a parent it is essential that you make a plan in case someday you are not...

Latest

Trending

Hello Mama!
Help us help you by allowing us and our partners to remember your device as having browsed MummyPages and serve you better content and ads

We're on a mission to help our mums and their families thrive by informing, connecting and entertaining.

Join us in our mission by consenting to the use of cookies and IP address recognition by us and our partners to serve you content (including ads) best suited to your interests, both here and around the web.

We promise never to share any other information that may be deemed personal unless you explicitly tell us it's ok.

If you want more info, see our privacy policy.