Herald - Issue 448

Page 60 • The HERALD • 26th October 2023 v INDEPENDENT, LOCAL AND PROUD v ASK A PROFESSIONAL 6 Reasons Why Parents Should Have a Will by Heritage Will Writing 1. Appointing guardians e appointment of guardians only takes e ect in the event of both parents passing away whilst the children are under the age of 18. e appointment of guardians needs to be given careful thought and planning. A common misconception is that if you have chosen godparents, then they would step forward in order to raise the children, however this isn’t the case. 2. Financial planning for the children It is reported that the average amount of money spent on raising a child from birth to the age of 18 in the UK (including housing and childcare costs) is £233,256. Careful planning must be considered to ensure the guardians are provided for with su cient funds in order to raise the children. 3. Revise bene ciaries from Trusts, pensions or life policies If you have assets held in Trust, a life insurance policy or a pension scheme, these may not be passed down as per the provisions under the Will. It is recommended to contact the providers and nominate your bene ciaries speci cally. 4. Age of inheritance e law currently states that a child’s inheritance is held for them until their 18th birthday. For many families this can be a concerning thought and for many, they choose to delay the inheritance age – such as 21, 23 or 25. 5. Appointment of Trustees If you die before the age you have chosen for the children to inherit, their assets will be held in a Trust for their bene t. You will need to choose who you would like to nominate as Trustee to look a er the Trust on behalf of the children. 6. Marriage or partnership Perhaps you completed your Will many years ago having purchased your rst property. Life quickly becomes busy, especially with life’s larger milestones such as marriage/civil partnership and welcoming children into the family. For many, reviewing their Will is the last thing on their minds and are not aware that the legal act of marriage or entering into a civil partnership formally revokes any previous Will you have made if the Will does not include a contemplation clause. erefore, it is important to regularly review your Will, especially if you are engaged or are expecting, to ensure that the change in circumstances have been included under the terms of your Will. Contact Heritage Will Writing on 023 8087 9243. Best of Solent Maritime Celebrated at Glittering Awards e winners of the Maritime UK Solent Awards 2023 were announced at a stylish ceremony held in Portsmouth’s Historic Dockyard on ursday 5th October. e very best of the Solent’s world-class maritime sector was celebrated at the second annual event, organised by Maritime UK Solent, shining a spotlight on the success, creativity and innovation currently taking place in the region’s marine industry. Anne-Marie Mounti eld, Chair of Maritime UK Solent, said: “The Maritime UK Solent Awards celebrate the very best this incredible regional sector has to offer. This year has been exceptionally successful for the maritime organisations that we are proud to champion, and we saw our truly globally leading talent honoured at our inspiring Awards ceremony. It has been a privilege for Maritime UK Solent to provide a platform for these prestigious maritime organisations, acknowledging and celebrating remarkable achievements and the incredible talent in the Solent cluster. Congratulations go to each of our brilliant winners and the finalists of this year’s Awards.” is year the Awards attracted even more applicants for the 13 categories, with a 20% rise in applications; plus there was a marked increase in the number of guests attending the ceremony. e Rt Hon Penny Mordaunt MP, Leader of the House of Commons, spoke about the outstanding work of the Maritime UK Solent Awards charity partner, Portsmouth Sail Training Trust. Before the Maritime UK Solent Award winners were announced, the Lord Mayor of Portsmouth, Councillor Tom Coles, welcomed everybody to Portsmouth, where the ceremony was held for the rst time. e 2023 winners were: • Global Trade Award – BAE Systems Maritime Services • International Partner of the Year – Robosys Automation • Diversity Champion Award – Maritime & Coastguard Agency • Technology Game-Changer Award – Carisbrooke Shipping Ltd • Clean Maritime Innovator Award – ABP • Net Zero Navigator Award – Portsmouth International Port • Employer of the Year Award – Carnival UK • Start-up of the Year Award – Just Be Maritime Ltd • Future Skills Award – BAE Systems • Large Business of the Year – BAE Systems Maritime Services • Small Business of the Year Award – NASH Maritime Ltd • Apprentice of the Year Award – Jamie Bamforth, BAE Systems Maritime Services • Maritime Legacy Award – Rachel Kitley e Maritime UK Solent Awards have quickly grown in repute and status, with many of the winners going on to win the national Maritime UK Awards. Organisations and businesses who sponsor them receive a great deal of coverage and prominence both regionally and internationally. Find out more: muksolent.com/muksolent-awards-2023/ Winners with their awards at the Maritime UK Solent Awards 2023 (Dave Dodge Photography)