There are people who do not have children through loss, choice or circumstance. For those who have lost or cannot have children, the decisions can be even more difficult to reach. It is important that those without children consider their estate planning and how they would like their estate to pass on death.
For those who have lost children, there are a few ways you may want to consider leaving your estate (or the share of the estate the lost child would have otherwise received). This could include to their children (if applicable) or their partner. The other thing you may want to think about is creating a charity in their memory (during lifetime or through your Will) or donating to an existing charity close to your heart.
For more support about child loss, Sands is one of the charities who could support you.
For those who did not want children or who have been unable to have children, the first thing you may want to think about as part of your estate planning and making a Will is your partner and providing for them (if applicable). The second is where your estate goes thereafter, including the tax consequences. You may want to think about other family members, friends or charities. Sadly, due to the discriminative IHT legislation, those without children do not qualify for an additional IHT allowance on death.
The Lawyer in London