Do you know how marriage could affect your personal affairs?

Did you know that getting married automatically revokes any existing Will? If you already have one in place, it will no longer be valid once you tie the knot. To avoid being left without a Will, you can plan by including a clause stating that it has been made in contemplation of your forthcoming marriage, this ensures it remains valid after your wedding.

The same applies to civil partnerships. Since the Civil Partnership Act 2004, civil partners have been treated the same as married couples, meaning any previous Will is automatically revoked when the partnership is registered.

If you have children from a previous relationship, you may be willing to balance their interests with those of your future spouse. Depending on how you own your home, whether solely or as tenants in common, you may also want to ensure your partner can continue living there after your death. Trusts, such as life interest trusts, can provide a solution where family interests need careful planning.

Wedding planning can take time, and you may not have set a date yet, but it’s worth reviewing your current situation now rather than waiting. The intestacy rules do not provide for unmarried couples, and with the Government recently rejecting calls for reform, this isn’t likely to change soon. If you want your fiancé(e) to benefit from your estate should anything happen before you marry, a Will is essential.

Marriage is one of many significant life events that should prompt a review of your Will. If it has been a while since you last updated it, or if there have been births, deaths, marriages, divorces, or changes in your financial situation, our expert Wealth Preservation team is here to help.

Contact our Wealth Preservation team today to explore your options and secure peace of mind, knowing your financial affairs are expertly managed for the future of your wealth.