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Protecting your children and securing their future

Our health, an invaluable asset, is often overlooked or taken for granted

As a parent, protecting your children and securing their future is a top priority. From having open conversations with your partner to creating a Will. There are straightforward measures you can implement to provide them with the protection they deserve.

Open the conversation

Discussing sensitive topics might be uncomfortable, but it’s essential for planning and protecting your children’s future. Choose a time and place to start this important conversation. A time when you and your partner or  immediate family will not be disturbed. By viewing it as a practical task rather than an emotional one, it becomes easier to handle.

Appoint a legal guardian

It is important to have a formal plan regarding who would care for your children if you are no longer around. Consequently, selecting a legal guardian is crucial to ensure your children’s well-being. A legal guardian can be anyone over 18 years old, such as a close family member or friend. Furthermore, if a guardian isn’t chosen, your children may end up in foster care while the courts appoint a guardian.

Create a Will

After discussing your plans and selecting a guardian, you should make it official by creating a Will. A Will allows you to specify how your estate should be distributed upon death. Dying without a Will leaves the distribution of your assets up to the law, which may not align with your wishes. Moreover, a Will can help minimise Inheritance Tax, leaving more for your children to benefit from. Find out how HSC Financial Advisers can help

Look into life insurance

In addition, Life insurance is a responsible way for parents to ensure the financial security of their children in the event of their death. It is an essential part of any family’s financial plan. You and your family will have the peace of mind that the children will be taken care of should something happen. Your children could benefit from tax-free cash if anything were to happen to you. This money can help pay for your children’s living expenses or any other financial needs. Having life insurance in place ensures that your children are financially provided for in the event of your death. HSC Financial Advisers have you and your family at the heart of what we do with and provide a full range of financial protection products and services.

Seek expert advice when necessary

Having children is a financial game-changer. Your expenses increase, and you gain the responsibility to protect them by providing for their future. One way to do this is by speaking to us.  Furthermore, obtaining professional financial advice about your life insurance requirements for your children, can provide them with financial security. No parent wants to think of the unthinkable, but by investing in life insurance, you are protecting your children and securing their future to face whatever comes their way.
In summary, following these simple steps, allows you to take charge of your children’s well-being and guarantee their future is protected.

Content of this article is not intended to address your particular requirements or constitute a full and authoritative statement of the law. It should not be relied upon in its entirety and shall not be deemed to be, or constitute advice.  No individual or company should act upon such information without receiving appropriate professional advice after a thorough examination of their particular situation. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of any articles. For more information please visit www.hscfinancial.co.uk

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