Getting Divorced? Make Sure That You Review Your Will
Posted on 24th March 2024
Divorce is a significant life event that impacts not only your personal life and immediate family, but also your legal and financial affairs. One of the critical documents affected by divorce is your Will. Understanding how a divorce can change the terms of your Will is crucial for ensuring that your estate planning reflects your current wishes and circumstances. In this blog, our Wills Solicitors in Lancaster explore the implications of divorce on your Will and what steps you should consider taking when going through the process of getting divorced.
Contact our Wills Solicitors in Lancaster
The Impact of Divorce on Your Will
In England and Wales, when you get divorced, any provisions in your Will that favour your ex-spouse are automatically revoked, or considered null and void. This can include:
Bequests:
Any specific gifts or bequests made to your ex-spouse in the Will are treated as if the ex-spouse had predeceased you.
Executor Status:
If your ex-spouse was named as the executor (the person responsible for administering your estate), divorce would nullify this appointment. If your spouse is your only named executor, this could cause issues.
Trusteeships:
Similarly, if your ex-spouse was appointed as a trustee in any trusts established by your Will, this role would typically be revoked upon divorce. Therefore, similarly to executors, you may not have an appointed Trustee.
Guardianship:
Your spouse, if they are the surviving legal guardian with parental responsibility for your child or children, would be your children's guardian automatically on your death. However, you may wish to consider updating the substitute provisions, as to who would step in and act as your children’s guardian/s if your ex-spouse could not act.
It’s essential to note that the changes discussed above typically come into effect once the divorce is finalised, not when the separation occurs or when divorce proceedings start. Therefore, if you would want to change the provisions of your Will before the divorce is finalised, you should seek advice from Wills Solicitors in Lancaster, who are expert Will-drafters, and can provide you with relevant legal advice to make sure your Will is updated and reflects your wishes accurately.
Foreign wills
Laws regarding foreign wills can vary from country to country. Therefore, if an individual has a foreign Will which deals with assets in another country, then it would be wise to check with a lawyer in the other country as to the effect of a marriage on the foreign Will.
What Doesn’t Change in your Will when you Divorce
While many aspects related to your ex-spouse in your Will may change, other parts of your Will remain unaffected by your divorce:
Provisions for Others:
Bequests to other family members, friends, or charities not contingent on your marital status remain valid.
Guardianship:
If someone other than your ex-spouse is named as a guardian for your children, this designation remains in effect.
Alternative Beneficiaries:
If your Will specifies alternative beneficiaries should your ex-spouse predecease you or be disqualified, these provisions become primary.
Why should I make a new Will?
Given the significant changes your Will undergoes after a divorce, it’s advisable to review and possibly update your Will to reflect your current wishes and circumstances. Here’s what you should consider:
Review Your Will:
Look over your existing Will carefully to understand what changes have automatically occurred due to your divorce and what remains the same.
Update Your Executors and Trustees:
Choose new executors and trustees as needed to ensure that your estate and any trusts are managed by someone you trust.
Reassess Your Beneficiaries:
Decide who you want to inherit your assets now that your ex-spouse is no longer in the picture. You may want to make more significant provisions for your children, other relatives, or friends.
Consider Your Children’s Needs:
If you have minor children, consider who will act as their guardian if something happens to you. Ensure that your Will reflects your current wishes.
Review Other Estate Planning Documents:
Along with your Will, review and update other estate planning documents like Lasting Powers of Attorney, pension providers, and life insurance policies.
Consult with a Professional: Estate laws can be complex and vary significantly between different jurisdictions. Choose Wills Solicitors in Lancaster for the preparation of your Will. As SRA Regulated, highly qualified professionals, our team can help complete your Will efficiently and ensuring it’s validity during the difficult process of your divorce.
Divorce significantly alters the landscape of your estate planning, with immediate and profound impacts on the terms of your Will. As life changes, so too should your Will. Post-divorce is a critical time to review and update your Will to ensure that it meets your current situation and future wishes. By taking the time to reassess and revise your estate planning documents, you can have peace of mind knowing that your affairs are in order and your loved ones are provided for according to your wishes.
Whether you are only in the early stages of your divorce or you have been divorced for years and have not given making a new Will a second though, our expert team of Wills Solicitors in Lancaster are here to help. You can contact us by phone on 01524 581306 or email wills@mglegal.co.uk to speak with an expert member of the team.
Contact Us Today:
Or give us a call on 01524 581 306.
Clear, fixed-fees
Fully-Qualified Solicitors
Tailored Service
Multiple Office Locations
Decades of Experience
Home Visits
Tagged as: Solicitors in Lancaster, Wills
Share this post: