i am in the process of insuring myself (in the event of death) and trying to determine the amount of money to leave the kids for private education + university fees (will be paid into a trust so it is protected from tax). I will be gettting legal advice on how to set these things up but really needed a feel for the total amount i would need for this (bearing in mind they will also sit in an account earning interest with money coming out bit by bit to pay the fees). I have a feel for private primary but no idea about secondary and how much uni fees and board and lodging cost. I cannot imagine the children will be boarding for secondary.
I was thinking of taking out insurance that pays £200k per child? (the kids are only 4 and 2 so if i get hit by a bus tomorrow, it's still a LOT of school fees to go).
Please don't turn this into a discussion of private vs. state education. I am just asking for help.
Thanks