Divorce and your Will

People going through a divorce, should review their Will.

Some will get a Will in place for the first time ever.

People who "get" the importance of a mid-way-through-divorce Will, get on and do it, without delay.

People who think they have to have sorted out the finances ("ancillaries") before going ahead with a Will, take a risk.

I'd say a majority of my clients who are dealing with divorce, ask me if it's sensible to get it done, while their divorce has not been finalised. While it still feels messy.

That's exactly the time it needs to be done.

The truth is, whether you're the petitioner or the respondent in a divorce which is not yet finalised, if you die, any judge considering your estate and how it should be distributed, has to consider whether you forgot to provide for your soon-to-be-ex-spouse. Yes, that's right, did you simply forget to give them your assets which you have been negotiating over?!

This may all change once your divorce is finalised, particularly if you have that simple but essential wording in your final order, saying that neither of you can make claims against each other's estate. Until then, you're married, and expected to provide for your spouse.

Is that enough to persuade you?

Your Will does not list your assets, and you may decide to treat your estate like a pizza (see my LinkedIn article of July 2017), so that regardless of you having no idea about how much equity you will get, compared to your spouse, your Will generally gives your share of whatever you have, to the people you say (particular care is required about joint tenants versus tenants in common, and you will need specialist advice about which is best for you and why, depending on all sorts of needs, health predictions, your need for certainty etc).

Often, in the context of a divorce, you'll want to provide for your children, equally. If you don't have children, you may feel that your siblings, neices or nephews will trump your soon to be ex. The point is, if you get a strong robust Will in place, you get to decide.

It's generally a really good idea to create a private Letter of Wishes dealing with the fact that you're not providing for your wife or husband in your Will. This is very much a private letter, which will become irrelevant in a few months, perhaps a year, when your divorce is behind you. This private letter clearly states that you are not providing for your ex, because you're divorcing (rather than you forgot), and goes on to make clear what your financial priorities have become (often your children, particularly if they're dependent on you).

If you want to chat through your own situation with a professional who cares, please pick up the phone to Jane on 01727 840 240 or drop me a line on [email protected] or drop me a private message here on LinkedIn. I'm always happy to chat things through, so that you can take action as soon as you feel ready. I know it's a big step, but the thought of him or her getting everything just because you're technically still married, albeit going through a divorce, is a really good motivator, surely.