Family, collaborative Law and Mediation

MAKING A WILL UPON SEPARATION OR DIVORCE

Making a Will

It is vital to make a will even if you are deep in the throws of separation and all that involves. You should not ignore what appears to be a mundane but essential matter of making a Will.

This applies to many people including those who are separating or divorcing or to single parents or cohabitants.

Do not be too busy and neglect this very important part of your separation arrangements.

You may become intestate if you do not have a Will. Your wishes may then be ignored.

Partners may need to be considered. For whatever reason, if you wish your partner to share in your assets, then you need to say so in your will.

Failure to do so will leave you vulnerable to the Statutory Rules and Regulations, which may not coincide with your own wishes.

Under Statutory Rules people in different circumstances will end up with different results.

 

No Children
Only spouses and civil partners will receive funds and even then this will be limited to a maximum of £450,000.00 at present. The balance of any funds will then be shared between parents and siblings.

Children
If you have children then a spouse or civil partner will receive only up to £250,000.00 at present. Any balance will be divided into equal shares of which a spouse or civil partner will only have a life interest in one of those shares.

Cohabiting
A cohabitant will not receive anything unless a Will is made and this applies regardless of the time that the parties have been together. There are possibilities of making claims under a 1975 Act dealing with family and dependants but applications have to be made and matters have to be proved and this can be time consuming and costly. Government reforms still have not been made.

Single Parents
It is important to single parents to make a Will in order to avoid children inheriting funds too early, i.e. at eighteen. They may not be ready to manage such large capital sums at that age and if you were considering making a Will you may not provide for them in this way. In making a Will you will also have control over who is to look after the funds as trustees so that you know your children and the trustees will be compatible.

 

Divorced

Pensions are an important issue in respect of divorcees. On remarriage your old Will comes to an end and without making a new Will you will become intestate.

If you remarry there may be other children of your marriage or children of your partner and of yourself and you may wish to ensure your respective estates are dealt with as you wish and the children are looked after appropriately. A Will ensures that everybody understands your wishes after you have gone.

Everyone close to you will benefit from knowing your wishes and will be more than happy not to be involved in extensive and probably expensive litigation.

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