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It's not just a case of meeting the nappy bills! Your mortgage, for instance, might need to be reviewed if one of you is going to stay at home to look after your child. One income rather than two will obviously make a difference to how much you can afford and EMF will assist you in making the best choice to suit your new situation. This applies not only to your mortgage, of
course, but to any life assurance, loans, long term savings schemes and other financial
commitments you may have. If only one of you intends to work, that source of income should be protected in the event of sickness, redundancy or death. Even if you both go back to work, you need to ensure you'll always have enough money to provide for your child without worries. Although it's an unpleasant thought, you
should also now both make or amend your Wills. By legally declaring your wishes, your
spouse and child are protected, because dying intestate doesn't automatically transfer all
your assets to your partner (married or not). If one of you has left your job, you might
have to decide what to do about any pension that's left behind. EMF will discuss your
options. Having a child may also bring about changes in your tax position! Your Child's Future There are many ways of making your child's path through life less of a financial burden on you both. If you're considering private education, it's never too soon to start a savings scheme. You might also want to set up a trust fund, or invest any money your child receives from the family. EMF will provide impartial advice on the
most sensible decisions to take for the benefit of your family. EMF Financial Services is authorised and regulated by the Financial Services Authority. |
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| EMF and Independent Financial Advice | ||||
| The Cost and Benefits of Independent Financial Advice | ||||
| Financial Planning for Women | ||||
| Pension Planning and Getting the Most from Your Retirement Income | ||||
| Getting Married | ||||
| Choosing the Right Mortgage | ||||
| The Birth of Children | ||||
| Planning Your Children's Education | ||||
| Changing Careers | ||||
| Contact Form | ||||
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