Are you expecting a baby?

Expecting your first child? In all the excitement, you may have forgotten about the financial aspects. Here are some of the things you should consider:

Will there be enough money around to care for my baby if either I or my partner dies?

Click on our Insurance pages for more information on this.

Do I need to think about putting money aside for my child's future school fees planning?

Click on our Investments page or contact us for specific advice on this.

For many the decision to provide their children with an independent or further education is a major one. The financial implications can often be a matter of stress and worry. We can help provide you with peace of mind and protection against unforeseen circumstances, reducing the risk to you as a parent and making the whole process much easier. Planning for these future costs and ensuring a strategy is in place to meet changing circumstances is important. Many parents want to be able to smooth out the payments of education costs and avoid a wall of mounting fees. Other parents would like to ensure they use any opportunities to make the process easier. Everyone's financial situations are different, that's why we provide specific advice to meet your individual needs and requirements.

IFA Promotion, the organisation that promotes independent financial advice, has produced a FREE factsheet for parents who want to plan for school and university fees. The 'Cost of Education' factsheet is available FREE by calling the IFA Promotion Consumer Hotline on 0117 971 1177 (callers must request the 'Cost of Education factsheet').

School fees may involve substantial sacrifices by the parents including:

• giving up holidays or other expensive consumer items such as cars or furniture;
• putting off moving to a better home; or
• both parents working full time.

It might entail selling investments, running down savings or borrowing. Deciding on the level of this sacrifice is the first element in school fees planning. Asking grandparents and others for help can often be a second. Some may prefer to move into the catchment area of a good state school for at least part of their children's education. Others may plan on the expectation of legacies or a substantial salary increase.

Do we have to move house?

Click here to be taken to our mortgages page for more details on this subject.

Should we make a will?

Yes, is the easy answer. Contact us if you would like us to recommend a good solicitor. If you don't make a will, you may not be aware that since 1/2/09 the surviving spouse only gets the first £250k of the estate if there are children and £450k if there are no children (plus half the balance). Your child would inherit the other half at age 18. Not necessarily a great idea.....