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First baby - what financial and legal stuff should I be doing?

(7 Posts)
orchidee Fri 05-Aug-11 13:04:11

With detail if possible rathert than just "make a will / life assurance", e.g. what sorts of things should be in the will? Can I specify who I'd like to care for my child if I died before they were old enough to look after themself and would this have any legal standing?

Also, how can I judge if a solicitor's any good?

thanks in advance

An0therName Fri 05-Aug-11 13:08:56

yes you need to identfy a guardian - there have been a few threads on here about choosing one - there is someone who posts on mumsnet who does will writing - that people seem pleased with
you also need to thing about excuters - that is who sorts out your affairs
Or I used there people who did my house move; so long as your affairs are not complicated - eg a lot of money then most solicitors would do an ok job as it is pretty straightforward - ask friends in your local area maybe

Collaborate Fri 05-Aug-11 13:51:32

Crikey OP you don't ask for much do you???!!

orchidee Fri 05-Aug-11 21:53:15

anothername - Thanks, I'm new to this area and will search for stuff about guardians

collaborate - I'm not sure what you mean, if you're being funny or have misunderstood. Perhaps you could clarify? I posted because I wanted to get an idea of the sort of things that I should be thinking about. Anothername suggested guardians and executors. That's the sort of response I was hoping for so at least one person seems to have picked me up properly.

Gonzo33 Sat 06-Aug-11 16:28:39

Blimey, there are many things.

Life Assurance - How much depends on individual circumstances (ie earnings, etc) - Term 18 years from babys birth probably a good idea. - Separate policy for covering the mortgage too.

Apply for CB and CTC when child is born.

Maybe savings account for Baby (They have got rid of CTF but are looking at Child ISA's)

Will - Think about Guardians / Trust Funds for baby / Executors (mumblechum on here did mine - advert in classifieds section)

Income Protection - Might be a good idea if you will NEED both incomes.

I can't think of anything else off of the top of my head but I am sure something will spring to mind later.

nocake Sat 06-Aug-11 18:34:17

I recommend sending a message to Mumblechum and getting her to draw up your will. She'll let you know what things to consider.

orchidee Sat 06-Aug-11 19:41:16

Thanks again for the advice smile

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