Should I make a will before I divorce?

If you don’t have a Will, the distribution of your Estate is governed by a set of rules referred to as the Intestacy Rules. Under these rules, only your spouse or civil partner and other close family members may inherit your Estate depending upon its value.

The list is a hierarchy with preference given to family members who are more closely related. It does not matter whether you are separated or getting divorced from your spouse or civil partner, they are still entitled to a share of your Estate.

Not all parents wish to make an equal provision for their children on death. You may already have made lifetime gifts to one child and wish to equalise matters between your children on death. One child may have additional needs, or your children may be under the age of 18 years old. Who would look after them and be appointed as guardian? Do you want them to inherit at 18? What if you do not see your children and do not wish to leave them anything?

The Intestacy Rules should not be a substitute for putting careful thought into making a will that is right for your unique circumstances. We are lucky in England to have testamentary freedom, which is not available in many European countries, testamentary freedom being the ability to leave our assets to whomever we like.

We can help you identify how any joint property and bank accounts are held and consider steps to change the basis of the ownership. This will ensure that your share of joint property passes under the terms of your Will and not to the surviving joint owner. We can help you ensure that protection is put in place.

We can provide advice on the use of trusts both in lifetime and as part of a Will which can act as a tool for managing wealth for children and young adults. We provide advice on trusts as a means of protecting funds within the immediate bloodline family.

After your divorce is completed and as you move forward with your life, we can look with you at the circumstances where you should review your Will. In particular, we advise on flexible provisions that can be part of your Will to provide for a new partner whilst retaining protection for children.

We can advise on the impact that your divorce has on your inheritance tax position so that you can make informed choices in protecting your money and property in the future.