If you are in a new relationship, updating your Will might not be high on your list of priorities. Whilst that is understandable, any significant life change means your existing Will needs to be looked at. If you do not act then loved ones may not be protected.
If you are planning on moving in with a partner, buying a house together, getting engaged or married (or remarried) or otherwise experiencing a significant life change and need help changing your Will our Wills Lawyers are here to help with advice on your circumstances.
Why do you need a new Will?
If you are divorced, and entering into a new relationship, it is particularly important that you review your Will because your existing Will remains valid but your divorced spouse is treated as having predeceased you. As such, if your former spouse is named in your Will as a beneficiary, and the Will does not say what should happen if they predecease you, the legacy to them will be distributed in accordance with intestacy rules. The intestacy rules may mean your new partner, or another relative that you would have wanted to inherit a share of your estate, loses out.
If you are separated but not divorced
If you are separated from your former partner or spouse and now in a new relationship then your existing Will remains valid. That means a former partner or spouse could inherit your estate under your Will even though your family circumstances have changed. If you do not already have a Will then your separated husband, wife or civil partner could inherit under intestacy rules. Whilst your new partner could try to bring a claim against your estate during the probate process, this could be expensive and distressing for your loved ones. That is why we recommend that you take legal advice about the new relationship paperwork you need, including a new Will to reflect your changed circumstances.
How to go about making a new Will
If you are in a new relationship, it is important to make the time to update your paperwork, including your Will. It is only through changing your Will that you can protect and safeguard any existing dependents and your new partner, husband or wife. Peace of mind is available with a new Will prepared to cover your new relationship and family circumstances.
With expert Will planning, your Will solicitor can help you navigate the best Will for your new family circumstances and advise you on how your Will can be discrete, flexible and inheritance tax efficient through the use of discretionary trusts in your Will, combined with letters of wishes to your trustees. Even if your family circumstances are complicated there is a Will solution that meets your needs.
Other important things to consider
A new relationship does not just mean you may need a new Will. You may also need other paperwork to protect your family, such as a cohabitation agreement, deed of trust, prenuptial agreement or postnuptial agreement. If you have an existing power of attorney you may want to reflect on your choice of attorneys and update your document.
Speak to our Bournemouth-based Wills Lawyers today
Solomons Solicitors understand that it is not always easy to decide how best to change your Will, especially when you are entering a new relationship but have children from previous relationships and other dependents. Our expert team will talk you through your options to make sure that updating your Will is as quick and stress free as possible, giving you, your new partner and your family peace of mind.