Q: I am getting remarried, how do I protect my new wife and my children from my first marriage in my will?
A: If you already have a Will it is worth noting that it will be revoked when you remarry. If you died before making a new Will, your assets would be divided according to the law rather than your wishes. This could mean that everything goes to your new wife and your children receive nothing.
You can avoid this problem by making a new Will before you remarry as long as it specifically states that it is made in contemplation of the marriage and is not to be revoked by it.
You should consider the interests of both your new wife and your existing children. Specialist professional advice will help to ensure that your wishes regarding financial provision and asset distribution are carried out correctly.
One common option is to create a trust in your Will. Instead of your assets passing to anyone immediately on your death, they will be looked after by trustees. This can let you be fair to everyone by, for example, allowing your new wife use of your assets during her lifetime but ensuring that they pass to your children on her death.
Whatever you decide, it is important to talk things through with your family while you can to reduce the chance for disputes and ill feeling after your death.
For estate planning advice, please contact Ian Sydenham in our Warrington office on 01925 230000 or by email ian.sydenham@fdrlaw.co.uk
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