What do we need?

[Famalam13]

Am in my late 20s and up to now haven't really worried about what will happen when I die or if I become seriously unwell etc as have had no dependents or property. However DH and I now have DS and we are buying a house in the new year.

We are currently drawing up wills with a solicitor. Very simple everything goes to DH unless he dies first in which case it goes to DS. We have named a legal guardian for DS too.

We have life insurance. But that's it.

What else do I need? I am guessing a living will and mortgage insurance. Anything else?

DH and I are risk averse and would rather pay out for peace of mind than take risks if that makes any difference to the recommendations :)

Critical illness cover.

Thanks Wonder will take a look at that too :)

It isn't a living will, the proper name is a lasting power of attorney. Ask the solicitor whi is doing your wills.

Are you happy with the scenario that if you die and DH remarries he can deliberately or inadvertently (if he doesn't make a will) leave everything to his new wife? I wasn't happy so prevented it from happening.

I agree that unless you have savings to cover a year+ of expenses you should investigate critical illness cover.

Are you married to each other?

I assumed so as OP refers to DH not DP