How does a marriage affect a Will?
Written by Claire Thompson | Wills, Trusts, Tax and Probate Team | 05 January 2024
Married Couples
Although the intestacy rules will provide for your spouse their entitlement may be more or less than you had intended to leave them. The share of your estate that will receive will depend on whether or not you have children or other linear descendants.
Relying on the intestacy rules also means that your spouse will receive their inheritance outright which means that it is theirs to do with as they wish. They inheritance is not protected from predatory third parties, from being used to pay your surviving spouses care home fees and tax planning opportunities may be missed. A married couple therefore has just as much reason to make a Will as any other couple.
Remarried Couples
If you have remarried then you may find that you need to balance your estate between your new spouse, children from a previous marriage and perhaps children from your new marriage. A Will is an essential document ensuring that your assets are used to provide for your loved ones. By using trusts a Will can make sure that your assets are used to safeguard your new spouse but ultimately make sure that they pass to your children and cannot be directed elsewhere.
Unmarried Couples
If your relationship is not legally recognised and you do not have a Will then there is no automatic provision for your surviving partner. This could leave them vulnerable or in a position where they are forced to make a claim against your estate for financial provision.
If you are not married to your partner then the importance of creating a Will cannot be overstated. A Will can make sure that your loved ones are provided for and protected.
Creating a Will is not just a legal formality but a crucial step in securing the financial well-being of your loved ones. By taking the time to articulate your wishes and preferences, you can avoid unnecessary complications, provide for your partner and children, and ensure that your legacy is carried out in accordance with your desires. As life is unpredictable, having a comprehensive will in place is a responsible and compassionate choice for any couple.
If you would like to discuss this in more detail, please call our expert Wills, Trusts, Tax and Probate team on 01752 827067 or email wills@nash.co.uk.