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HCR Law Events

8 July 2020

Making hard decisions easier to talk about

We know that life isn’t a game, but we hope our light-hearted look at some of life’s common milestones, from buying a house or starting a new relationship to having children and making sure you protect your loved ones for the future by making your will, will encourage you to have conversations about the most serious events in life.

We look at both safer and riskier routes to take, with advice along the way to help you navigate through complicated situations. For instance, when you buy a house with someone else, you need to protect that investment, especially if one of you is contributing more money than the other.

You don’t need to be old to make your will – if you buy a house, get married or enter a civil partnership, have a child or set up a business, make sure that you have an up-to-date will which gives your assets to the people you have chosen.

Cohabitation or pre-nuptial agreements are not romantic, but they are practical, and could prevent problems later. If you are not married, but want to have children, make sure you understand the legal aspects of parental responsibility – if the child’s father is not named on the birth certificate, they don’t automatically have parental responsibility.

Shareholders’ agreements may seem a world away, but when you set up a company, especially with your life partner, having an agreement will protect you, the business and them, especially if that relationship breaks down. Separating finances is a tricky process, but do make sure you finalise the arrangements properly.

When you want to help family or friends, check the best way to give money to others – why should the taxman benefit from your hard work?

Finally, your will should be a document for life, updated and reviewed with each major change in your journey. By the time you have children and grandchildren to consider, a company to pass on or a house for someone to inherit, you will want to have a will which makes sure that your assets go to those you have chosen. In addition, making Powers of Attorney will help ensure your wishes are carried out if you lose capacity to make financial or wellbeing decisions later in life.

We’re here to support you with all the moments that matter in your life. Talk to us today.

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About the Author
Andrew Caldicott, Partner, Head of Relationships and Family Law Team

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