Client
Portal

Protecting your children and securing their future

Back to News & Views

Our health, an invaluable asset, is often overlooked or taken for granted

As a parent, ensuring the wellbeing 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 wellbeing. 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 wellbeing and guarantee their future is protected.

Want to maximise the potential of your wealth for future generations?

Safeguarding what we cherish most is crucial, and while it's easy to procrastinate, addressing our protection needs fulfils our innate desire to maintain safety. Our health, an invaluable asset, is often overlooked or taken for granted. Protection goes beyond purchasing life insurance – it encompasses financial support during periods of inability to work and maximises the potential of your wealth for future generations. To find out more, please get in touch with us.

Book your FREE, no obligation discussion today. Schedule Appointment

Sign Up to our mailing list - Receive regular news, tips and financial commentary from the Gemini Team.

Latest News

  • As we approach our 50s and 60s, retirement looms on the horizon, promising a well-deserved break from decades of hard work. Whether your future plans include travelling, indulging in hobbies, or spending quality time with family and friends, retirement should be the longest holiday of your life. Ensuring your finances are on the right track as you approach this new chapter is crucial. [...]

  • Many people prefer to avoid the subject of long-term care. Most find it hard to contemplate going into a care home when they are older, but many will do so eventually. However, planning for these potential expenses is important before they become urgent. The NHS, while a cornerstone of healthcare in the UK, only covers care costs in specific circumstances, primarily when related to medical health needs. [...]

  • In today’s unpredictable world, safeguarding financial stability is more crucial than ever. Many of us would struggle to keep up with our essential outgoings, such as mortgage and rent if we lost an income due to illness or an accident. [...]

  • The amount of Inheritance Tax (IHT) paid by families has dramatically increased over the past decade, increasing from £3.1 billion in the 2012/13 tax year[1] to £7.5 billion in the 2023/24 tax year[2]. This rise is attributed to growing asset values and stagnant IHT thresholds, coupled with many families delaying their planning. An additional IHT allowance was introduced in 2017, allowing some families to pass on more assets without incurring IHT, yet the criteria for qualification can be complex. [...]

  • As we approach one of life’s most significant transitions—retirement—many people do not engage in crucial conversations about the lifestyle they envision or assess whether they’re on track to achieve it. Recent research highlights that half of those aged 55 and over have not discussed their desired retirement lifestyle with a partner or loved one[1]. [...]

  • Retirement is a milestone we all look forward to—a time of relaxation, free from the daily grind of work and financial stress. Achieving a comfortable retirement requires thoughtful planning and foresight. While life may present unforeseen challenges, particularly concerning health, you can take proactive steps to bolster your financial resilience and manage the unexpected. [...]

  • Dividends represent the portion of a company’s profits distributed to its shareholders. When you own shares in a company that declares a dividend, you receive a share of those profits. Dividends are pivotal in enhancing long-term stock market returns, offering a reliable income stream that can help mitigate short-term stock price volatility. [...]

  • In today’s fast-paced world, many individuals have multiple pension plans collected over their working life. Whether through changes in employment or setting up personal pensions as a self-employed professional or contractor, managing these pensions can become challenging. Not only does this involve significant administrative effort, but the financial implications of juggling numerous plans are also considerable. Some pension schemes may suffer from uncompetitive pricing and underperforming investments, eroding retirement savings. [...]

  • As you enter your 50s, retirement looms larger on the horizon, making it crucial to ensure your finances are optimally positioned. This stage of life demands a coordinated and joined-up approach to financial planning to enjoy retirement on your terms. An essential step is to clarify your retirement goals. [...]

  • What we do collectively this decade – including how we invest – could mark the difference between starkly different futures. Our actions now will determine whether we face a future plagued by environmental degradation or one where we have successfully mitigated some of the most pressing ecological concerns. [...]

  • New research has revealed that five million childless households in the UK currently lack life insurance, pensions or savings[1]. This alarming statistic underscores a broader shift in how families are structured and how financial priorities are set across the nation. [...]

  • Legacy planning holds different meanings for different individuals. For some, it is about ensuring their loved ones are financially secure; for others, it involves safeguarding cherished possessions or supporting charitable causes. Central to this process is drafting a Will, a pivotal legal document that allows you to dictate the distribution of your money, property and possessions after your death. [...]

Gemini Wealth Management Ltd is Authorised and regulated by The Financial Conduct Authority Registered in England & Wales No. 5919877 Registered Office: Gemini House, 71 Park Road, Sutton Coldfield, West Midlands B73 6BT The Financial Conduct Authority does not regulate tax and trust advice, will writing and some forms of buy to let mortgages. The guidance and/or advice contained in this website is subject to regulatory regime and is therefore restricted to those based in the UK.

Website by Mellow Marsh Software
© Gemini Wealth Management Ltd
Important Documents | Cookie Policy