Wills are complicated documents at the best of times and when we throw complex family matters into the arena they have the potential to create a powder keg which could explode into a plume of additional problems.
Let’s go back to basics:
When a couple divorces, their existing Will is not automatically revoked or cancelled. However, the divorce does have the effect that the former spouse will no longer act as an Executor or beneficiary. This can be problematic if the couple has children, as the former spouse may no longer be able to inherit from the estate.
Another consideration is that a previous Will does NOT become effective again in the event of divorce. In essence, your ex-husband or ex-wife will no longer benefit from the Will unless you have expressly stated otherwise.
One solution to this problem is to create a new Will after the divorce. This will ensure that your former spouse is no longer included in your Will and that your children still inherit from you. It is important to remember to update your Will any time there is a change in your marital status, to ensure there is complete clarity as to the distribution of your estate.
Remember also that marriage revokes a Will.
If you are considering a divorce, or have already gone through one, it is important to review your Will and estate planning documents. The team at our office can help you make the necessary changes so that your loved ones are taken care of in the event of your passing. Contact us today to book your appointment and we would be happy to discuss your options with you.