Do I need a new Will after getting married?

The answer is quite plain and simple - YES!

One thing that couples rarely consider when planning to get married, is whether this will affect their existing Will.  

It is important to remember that marriage automatically revokes an existing Will in its entirety, although there is an exception to this rule; a Will made specifically in contemplation of marriage. For the majority of couples, getting married could mean that their wishes for the distribution of their assets are ignored upon death, leaving those they wish to inherit without anything.

If I die without a Will

Without a valid Will, an individual is classed as dying “intestate” – which means “a person who has died without having made a Will”. Belongings are then distributed by provisions as set out in law which determines both who inherits and the extent.

For example, should a previous Will state that a Diamond Necklace is to be passed to a sister upon death; following marriage this would be ignored and would pass to the surviving spouse.

Under the intestacy rules, the surviving spouse will be entitled to receive all personal property and belongings, the first £250,000 of the estate, and half of the remaining estate. Should an estate be valued at more than £250,000, half of the value over this amount will then pass to children. If a person dies without children, the surviving spouse will be entitled to the whole value of the estate.

So, the new question is actually, “do I need a Will?”

Making a Will makes it much easier for family and friends to sort everything out following a death; removing a significant amount of stress on loved ones. A Will would also aid the distribution of assets whereby a ‘complicated variety’ of assets are held by the Deceased, for example business interests, shareholdings, multiple properties etc.

Wills can also be constructed to assist with succession planning and reduce the amount of Inheritance Tax that might be payable by future generations.

Our Private Client team are an experienced team of tax and legally qualified advisers, who are dedicated to looking after your personal and business interests.  If you would like to discuss your will, then our Private Client team would be happy to help.  Begin your journey will us today and see how our Private Client team can help create the best possible future for you.

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