Your Will is a crucial legal document that outlines how you want your assets to be distributed after your passing. However, significant life events such as marriage, divorce, and separation can significantly impact the validity and effectiveness of your existing Will. It’s essential to understand how these events can affect your estate planning and take necessary steps to ensure your wishes are carried out.
Marriage
- Revocation of Existing Will: In most cases, getting married automatically revokes any Will you had previously made. This means that your earlier Will becomes invalid, and your estate will be distributed according to intestacy laws unless you create a new Will after your marriage.
- Intestacy Laws: If you die intestate (without a valid Will), your assets will be distributed according to specific rules set out in intestacy laws. These laws may not align with your intended wishes, particularly if you have children from a previous relationship.
Divorce
- Revocation of Gifts to Ex-Spouse: If you divorce, any gifts or bequests made to your former spouse in your Will are typically revoked. This means that your ex-spouse will not inherit anything from your estate unless you have explicitly stated otherwise in your Will.
- Review of Guardianship Clauses: If you have children, your Will may appoint a guardian to care for them. After a divorce, it’s crucial to review and update these guardianship clauses to ensure that the person you want to care for your children is still suitable.
Separation
- No Automatic Revoking: Unlike marriage and divorce, separation does not automatically revoke your Will. However, it’s important to consider the potential impact of separation on your estate plan.
- Reviewing Beneficiaries and Guardians: If you have separated from your spouse, you may want to review the beneficiaries named in your Will and ensure that they are still the people you want to inherit your assets. You may also need to reconsider the guardianship provisions for your children.
Taking Action
To protect your wishes and avoid potential legal complications, it’s essential to take the following steps:
- Review Your Will: After a significant life event, consult with a solicitor to review your Will and make any necessary changes.
- Create a New Will: If your Will is outdated or no longer reflects your intentions, consider creating a new Will to ensure your wishes are carried out.
- Seek Legal Advice: If you have any questions or concerns about the impact of marriage, divorce, or separation on your Will, seek legal advice from a qualified solicitor.
By taking proactive steps to update your Will, you can have peace of mind knowing that your assets will be distributed according to your wishes, even after significant life changes.
If you have any questions or wish to discuss the above, please contact our Private Client Team on 0161 850 9911.