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.
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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.