Updated: Jan 17
Did you know that 42% of marriages in England and Wales result in a divorce? It is very common for people to get a divorce, and go on to remarry further down the line. But what implications does this have on your Will, and on your children?
If you have children from your first marriage, and are now married to a different partner, unless you have updated your Will your children may end up inheriting nothing or very little.
A marriage automatically voids any Will you already have in place. That means that if you have previously written a Will stating that you want your assets to go to your children following your death, it is no longer valid.
If you pass away, you will be treated as having died interstate and under inheritance laws your new spouse would be entitled to inherit all, or most, of your assets.
Unfortunately, we have seen it happen where a parent has died having not reviewed their Will since a remarriage, and their children have not been entitled to anything. To ensure that your children inherit from you, it's vital to make a new Will detailing your wishes.
Now let's talk about step-children. Inheritance laws in England and Wales don't automatically recognise step-children. That means that if you want them to inherit from you, your Will needs to specify this.
If you don't do this, your step-children will have no automatic right to any inheritance from your estate.
The modern family can be a complicated one, meaning it can be difficult to wrap your head around when it comes to writing your Will. But don't worry, we're always here to help ensure that your estate is distributed according to your wishes.
Get in touch today to make sure your loved ones are protected.