Will for single parent.

[MovingtoEssex]

Hi
I was wondering how people have structured a will as a single parent, or what you think would work in this scenario.

• 3 kids live with me permanently
• aged 10 to 17
• regular contact with father
• house is mortgaged but there are funds to clear the mortgage immediately.
• father employed
• father has mortgaged house too small to house kids and would move in with kids (I imagine)

Prior to divorce, everything was left automatically to other parent. Both pensions pay out to other parent. Now kids are older and house could be owned outright, is it better to leave it them? I have no will, so it would be by default currently. Should death in service also go to them or to father to help support kids? Or in trust to be used to support them? I clearly want kids to benefit ultimately and dont want money redistributed by father. Thank you!

Anyone you could trust as trustee? I must admit I didn't get round to a will when my kids were little but I planned to have my death in service go to father if he wanted to look after them and the house and other funds to be managed by a trustee who would know to release money for important stuff for the kids in my eyes like travel opportunities fir eg.

@RedHelenB Thanks! Sounds like you were thinking along similar lines.
Yes, my brother could act as trustee and has a similar outlook in terms of fun vs sensible money.

You'll need two trustees.

You absolutely definitely need a lawyer to draw this up.

You should also think about life insurance op - this can be put in trust for the dc as there is no guarantee that your ex would do the right thing by the kids

I worked with a lawyer who specialises in wills to draw mine up. Everything (house, money, death in service & life insurance) goes to my daughter in the event of my death. It will be held in trust until she's in her twenties, but there is provision for the trustees to release money should she need it for her upkeep/education etc.

I am a single parent and left everything to dds directly. Their dad and another friend are the trustees while they are under 18.

You need to see a lawyer urgently. It also applies to married couples and living together. If you have children you need a will as otherwise intestate applies and it doesn't leave it all to kids once over a threshold.

Our will leave some to each other and some to kids. However, for the kids there are provisions in case of both our deaths to

Nominate a guardian
Set up trust funds with trustees
Provisions for age they can access it

Given he is your ex (I assume)..I wouldn't be leaving him lump sums of money. The trust fund for the children will make provisions to support them and that can include their dad to the extent you want but at the discretion of the trustees....ie regular allowances to fund children, holidays etc and maybe even moving bourse if required. The house could form part of the estate and he be allowed to live there for a certain time.

Please also get powers of attorney drawn up in case you lose mental capacity as otherwise it is very difficult to access your funds to support the children. You can do that yourself online

You really need to see a lawyer ASAP!! You owe it to your children