The patter of tiny feet is usually accompanied by advice on
anything from sleep to the choice of school. But if you’re a parent-to-be (or
already a parent) you’d also be well advised to do some simple legal planning.
Time off work
For parents in paid employment, the imminent arrival of a child means finding out your rights in terms of time off for antenatal care, parental leave, employment terms and flexible working.
Rather than rely on your employer to guide you through this,
it’s worth checking it yourself. And if you’re not sure you’re getting all your
entitlements, talk to a solicitor.
Where you live
The expansion of your family is often a signal to move home or buy for the first time together. Depending on whether you’re married, civil partners, cohabiting or living separately, and already own property together or individually, there’ll need to be different discussions around your finances and whose name the property is held in.
There could be a variety of issues here, ranging from
capital gains tax to what happens if you split up or one cohabitee dies, so get
professional advice.
Making a Will
It’s an awful situation to ponder, but you need to make sure
your child(ren) will be looked after if you die. There is financial provision
to think about, but also guardianship. It’s a difficult discussion because you
may not think family members are able or suitable, and it’s a hard thing to ask
of friends. But it’s an issue you have to take in hand.
Gifts
If generous relatives are keen to give the child a nest egg,
advice about trusts may be useful. These can help with inheritance tax
planning, and also ensure the gift is protected for the future.
And the rest
Over the next few years, you may face issues from contracts with childcare providers to school placement appeals to contact and residence arrangements. In all these cases, professional advice could make a positive difference to your family life.
