Single Parents
Single Parent, Single Will!
The directors of Will Drafters
Ltd, David Crossland and Michelle Hanover, are now urging all single
parents to make a Will. Mary Harris met up with them recently to find
out why.
Mary: "As a single parent myself, isn’t it true I don’t need a Will
as everything would automatically go to my children?"
David: "Normally yes. But if you are only separated from your previous
partner, not divorced, then this wouldn’t be the case as, depending
on your circumstances, your previous partner may get everything".
Mary: "This would worry a lot of single parents, can you tell us
more?"
Michelle: "If you are divorced or unmarried then everything owned solely
by you will go to your children including any adopted but not stepchildren.
Without a Will, anything owned jointly with someone else, such as a
property, would go to him or her".
Mary: "Can I specify an age at which my children are to inherit?"
Michelle: "Yes. Most parents opt for 18 or 21 while a few prefer 25.
Any age over 25 brings up certain tax problems, so is best avoided".
Mary: "And what will happen if I die while my children are still
young?"
Michelle: "You will need to appoint guardians to look after your children.
Most people choose a brother or sister. Some choose parents but you
must consider their age".
David: "Also, you should appoint at least two trustees who will then
look after the money and make sure your guardians have the financial
support they need. Once your children reach the age you chose the trustees
would pay them their share".
Will Drafters offer a convenient Wills-by-phone service and have written
over 90,000 Wills since the two directors founded it in 1990.
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