Are you aware how marriage affects your Will?
How about separation?
Find some surprising answers by viewing my blog at: Slater & Gordon Blog by Rod
Just separated, looking forward to a fresh new start. Life beyond divorce…
Die before a divorce is finalised – chances are your Ex will inherit everything you own pursuant to your Will.
If you don’t have a Will – chances are your Ex will still get most …perhaps all… of your assets under the intestacy laws. It varies a little depending on the jurisdiction you live in. Just accept that the story doesn’t end happily for you….
Big concern, simple solution. Do a new Will when you separate.
What happens when I get a formal divorce?
If you survive the separation period – then divorce will automatically alter your existing Will. At least in many jurisdictions – but not all. You need to check if you live in a lucky country.
Even is a lucky country the impact varies between the different States and Territories. In some jurisdictions, divorce automatically revokes (cancels) the entire Will. In others, divorce simply revokes any appointment of your former spouse as your executor and any gift you left your Ex unless:
• a court is satisfied that was not your intention; or
• you re-do your Will or do a Codicil to the Will after the divorce without changing the appointment of your Ex as executor and/or a gift to him/her.
Rather than leave these matters open to dispute in the courts, it is much better for you to do a
new Will immediately after separation and then again (if necessary) once a property settlement is in place.
EP Tip 4:
Reviewing and updating your Will is just as important as creating one. Separation from a partner is just one event that should jolt you into action.
I INVITE YOUR CONTRIBUTION / COMMENTS
If you have any comments about this blog or tips to add to this blog please do so – your comments and tips will help all of us in our travels.
Use the ‘leave a comment’ link at the top right hand side of the blog (above my photo) to send a message to me.
Use the “Follow” link at the bottom of the column on the right to subscribe to this blog.
PLEASE SHARE THIS BLOG WITH PEOPLE YOU BELIEVE IT MAY HELP
VISIT OTHER EP BLOG TIPS
EP Tip 1: Click Link Here
EP Tip 2: Click Link Here
EP Tip 3: Click Link Here
MY TRAVEL TIP SERIES: Click Link Here
Disclaimer: this blog is of a general nature for educational purposes and should not be relied upon as legal advice. Readers should seek specific help for their specific circumstances.