MARRIED WITH YOUNG CHILDREN

Major changes may include loss of a second income as one parent remains at home with young children, and expenditure on maintaining the children. You may wish to consider the following as preparation for discussing the matter with your financial adviser:

1. Protection of income becomes even more important now that there are more dependants.

2. Similarly, life assurance, as protection of living standards in the event of the death of the main income earner, will become more important than previously.

3. Wills should be updated in line with new circumstances.

4. Personal tax matters should be reviewed so that available allowances are used most favourably.

5. School fees are expensive. The ealier planning starts, the easier it is likely to be effective in defraying the costs in the long term.

6. Pension planning should not be relegated in importance or deferred because of other expenditure; it may be worth investigating the life assurance options under Personal Pensions (tax relief available).

7. Moving house will mean careful investigation of mortgage options.

REMEMBER You should not use any information contained on this page as the basis of any action until you have discussed matters with your financial adviser.