It is always surprising that a large number of people don’t ever think to make a Will and perhaps that has something to do with the notion that many people still believe that only rich people need to make Wills. This is very far from the truth and there are a number of good reasons for anyone making a Will but most importantly you should consider making a new Will if there are changes to your family situation. The following brief list highlights some of the main circumstances where you would be well advised to make a Will or change your old Will.
Marriage: When you marry, any will you have previously made is normally revoked automatically. Your new husband or wife will usually inherit all your estate if you die without making a fresh Will. There may be others, such as children of a previous marriage or relationship, who you want to benefit from your estate. You can make provision for them in a will.
Unmarried Partner: An unmarried partner will usually inherit nothing from your estate. You can make provision for them in a Will. ‘Common Law’ marriage is not recognised in law, which sometimes produces very unfair results when one party dies
Separation: If you separate from your husband or wife you may wish to make a Will (or change your existing Will) otherwise they will still be entitled to inherit under the Intestacy laws (or under the provision of your Will) until there is a decree absolute of Divorce. If you have made a Will in favour of an unmarried partner, you may want to review this on separation.
Divorce: A decree of Divorce makes void any gift in your Will to your husband or wife, so this is usually a good time to review what you would like to happen on your death and make a new Will.
Civil Partners: Registered Civil Partners are treated exactly the same way as a husband or a wife. However, a same sex partner who is not a civil partner is treated exactly the same way as a non-married heterosexual partner and will usually inherit nothing if you have not made a Will.
New Children in the Family: If you adopt a child, then they are treated as your natural children in law for all purposes, including inheritance. However, step-children or children of an unmarried partner from a previous relationship will not normally inherit anything from your estate unless you have made provision for them in a Will. You may also wish to make special provision in a Will for children with disabilities, to provide them with continuing support during adulthood.
If you require any further information on making a Will please contact our Private Client department on 01206 578282 or e-mail privateclient@fjg.co.uk