After we're gone
We all want what’s best for our loved ones and for them to be happy after we’re gone, even if this means that they might move on with someone else.
But have you considered the problems which could arise if your spouse were to marry again after your death?
Here’s what usually happens…….
Your Will - Most couples will have what’s referred to as Mirror Wills in place. These simply leave everything to each other on first death and then whatever is left to children, friends and family, or charity etc on second death. Your surviving spouse now owns all your joint assets.
The marriage – The surviving spouse marries again taking all the family wealth with them into the new relationship.
Writing a new Will - Marriage revokes any existing Will and so the newly married couple create new Mirror Wills.
This is no doubt exactly what you would expect to happen on remarriage but…………………….
How would you feel if:
Divorce - What if your surviving spouse and their new partner divorce and he/she acquired half of everything you once owned?
Death of the surviving spouse - Your surviving spouse dies and their new husband / wife inherits everything you had worked so hard to build up over the years?
They write a new Will – The bereaved husband/ wife writes a brand new Will disinheriting your children / relatives, leaving all their newly acquired wealth (your money) to totally different people.
It doesn’t take much imagination to know how you would feel if any of this came to pass, when some simple changes to your Will could avoid all of this and protect your assets for your family and future generations.
To ensure your Will is future proof, call me today for a FREE Will review.
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