The importance of having Wills in place, both pre and post marriage

Should you write a Will before or after marriage? The Government has published a consultation document seeking ‘a fairer end to relationships’. This has been long-awaited by those eager to improve legal protections for an estimated 3.5 million unmarried couples.

The definition of ‘family’ has changed dramatically over the years, yet the law hasn’t kept pace with the realities of what a modern family looks like.

The number of unmarried couples is said to have more than doubled over the past three decades. Despite this, cohabiting couples and their children have very limited financial protections and are placed at risk of significant financial hardship and uncertainty should a relationship end through separation or death. This can only add to the stress during the most difficult times in life.

Justice Secretary David Lammy said: “Whether you’ve been left bereaved by the sudden and unexpected death of a partner, or escaped horrific domestic abuse, our laws should work to protect you.”

Couples will be considered cohabitants if they have lived together for at least three years or share a child. Unmarried couples would be given automatic inheritance rights if their partner dies without a will.

The Labour Government are seeking views on how we can build a fairer legal framework for cohabitants: one that reflects the realities of modern family life and safeguards the most vulnerable, while retaining the distinct nature of marriage.

A welcome conversation but until then:

How can unmarried partners protect themselves?

Make a Will.

The intestacy rules do not protect unmarried partners, no matter how long the relationship. Bereaved partners can be left with no inheritance if their partner dies without a Will. Don’t leave your partner at risk and unprotected.

How can I protect my estate after I am married?

Make a new Will.

Marriage automatically revokes (cancels) Wills.

Your Will becomes completely invalid on your wedding day unless it was drafted in contemplation of marriage. If you don’t make a new Will, you will die intestate. Your estate will be distributed in accordance with rigid, legally defined rules rather than your own wishes. This matters because, your new spouse will inherit everything if you do not have children. If you have children, depending on the value your estate will be split between your new spouse and children. The intestacy rules don’t always accord with your wishes or reflect a ‘modern family.’ Don’t leave your new spouse and children at risk and unprotected.

Is there anything else to consider?

Currently leaving your estate to an unmarried partner can be extremely inefficient from an inheritance tax point of view. You may also risk your estate not passing to your children should your surviving partner re-marry or change their Will. A specialist solicitor can offer several solutions to make your Will more tax efficient and protective.

Specialist advice is key

Our specialist Succession and Tax team at Blake Morgan are here to help. We can guide you through your Will, estate planning and provide bespoke advice about how best to protect your family.