--- title: "Protecting your children and securing their future" url: https://pensionsadviceuk.com/protecting-your-children-securing-their-future/ description: "Practical steps to protect your children’s future: talking about it, appointing a guardian, making a will and having the right protection." last_updated: 2023-10-19 publisher: "Pensions Advice UK (a trading name of GAP-GNX Ltd)" language: en-GB --- Guide # Protecting your children and securing their future Our health, an invaluable asset, is often overlooked or taken for granted Last updated 19 October 2023 ### As a parent, ensuring the well-being of your children 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 when you and your partner or immediate family won’t be disturbed. By viewing it as a practical task rather than an emotional one, it becomes easier to handle. **Appoint a legal guardian** Many parents still need a formal plan regarding who would care for their children if they were no longer around. 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. 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, 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. **Look into life insurance** Having life insurance in place 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 and can provide you and your family with the peace of mind that they will be taken care of in case something happens. It could provide a tax-free cash benefit to your children if something 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. **Seek expert advice when necessary** Having children is a financial game-changer. Not only do you increase your expenses, but you also gain the responsibility to protect them by providing for their future. One way to do this is by speaking with your professional financial adviser. By obtaining professional financial advice about your life insurance requirements for your children, you can protect their future and provide them with financial security. No parent wants to think of the unthinkable, but by investing in life insurance, you can give your children the security they need to face whatever comes their way. Following these simple steps, you can take charge of your children’s well-being and guarantee their future is protected. ### Would you like to speak to an adviser? Tell us what you need help with and we’ll introduce you to an FCA-authorised adviser. It’s free to enquire. [Get started](https://pensionsadviceuk.com/qualified-advice-request/) ### Important information This content is for information only and should not be considered legal, tax or financial advice. Pensions Advice UK is a trading name of GAP-GNX Ltd. We are not authorised by the Financial Conduct Authority and act solely as an introducer. The value of pensions and investments can fall as well as rise, and you may get back less than you put in. Tax rules can change and depend on your circumstances. ## Speak to an FCA-authorised adviser Tell us what you need help with and we’ll introduce you to a qualified specialist. Start your enquiry 020 3778 0939 We’re an introducer, not an adviser. [Call us](tel:+442037780939) [Enquire](https://pensionsadviceuk.com/qualified-advice-request/) --- Pensions Advice UK (a trading name of GAP-GNX Ltd) connects UK residents with FCA-authorised pension advisers and pension tracing services. It is not FCA-authorised and does not give financial or tax advice. It acts solely as an introducer to FCA-authorised firms, who provide any advice and explain any fees before you proceed. This is the text version of https://pensionsadviceuk.com/protecting-your-children-securing-their-future/. More pages: https://pensionsadviceuk.com/llms.txt