Revocation of a Will by marriage.
If you have a Will and have married since you signed it your Will will have been automatically revoked unless you made that Will in contemplation of your marriage. The heading of the document will need to have included a clause stating ‘This is my last Will and Testament which is not to be revoked by my forthcoming marriage to [name of person].
If your Will has been revoked in this way then your estate will pass in accordance with intestacy law so that any value up to and including £270,000 passes to your spouse and any value over and above that amount is divided equally between your spouse and any children you may have. Any jointly owned assets will automatically pass to the surviving owner.
This could cause problems if, for example, your estate comprises a property worth, say, £500,000. Under these circumstances your spouse would receive the first £270,000 and the remaining £230,000 would be divided as to £115,000 to your spouse and £115,000 to your children. This could put your spouse’s occupation of the home at risk if your children are adult and decide they wish to receive their share of your estate immediately. In addition it is never sensible to have children owning part of the family home because if they experience marital problems, go bankrupt, or, heaven forbid, die themselves, their share of your former home will form part of their estate and be distributed under the terms of their own Will or intestacy.
Whether or not you have remarried since writing your last Will, you should as a matter of good practice, review your wishes in the light of the ever changing circumstances of life, every five or so years.
Please contact us for more information.
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