Friday 11th May 2007
Child investments should be protected by creating a will, according to AA Legal Services.
The legal advice firm made the claims following research which showed many young people have not made wills dictating the inheritance their children should receive when they die.
And the figures showed concern among young people that they may face inheriting debt, rather than a positive legacy.
Some 86 per cent of those surveyed stated that they were worried about the financial situation their parents will may leave them in.
But more concerning for the researchers was the figure that four out of five couples with children under the age of 11 have not made a will at all.
James Molloy, head of AA Legal Services, said: "It is also alarming that so few young couples have made a will.
"On buying a home it should be one of the first tasks that is undertaken, but our research is telling us that writing a will is usually lost in the excitement of choosing new carpets."
The AA also provides an inheritance tax service, aiming to limit the amount of tax which must be paid by those with an estate valued at more than £285,000.
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