Legal Tip 197: Consider the remarriage Risk when doing a Will

Discussion in 'Wills & Estate Planning' started by Terry_w, 6th May, 2019.

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  1. Terry_w

    Terry_w Well-Known Member Business Member

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    When one spouse dies often the surviving spouse remarries. This will mean any inheritance received by the surviving spouse could be at risk of not ending up in the children’s hands.


    Example
    Homer and Marge are happily married and have 3 kids, they prepare their wills so that if one dies the survivor gets everything, if they both die the kids share everything equally. Sounds good so far.

    Homer dies.

    Marge inherits Homer’s assets which were 50% of the main residence, 50% of the investment property and 425 pens stolen from his employer over the years.

    So far all is well.

    A year after Homer’s death Marge gets on tinder and eventually marries a guy called Barney.

    Marge’s will is now revoked by the marriage, marge dies and under the intestacy laws of NSW the assets of Marge get shared by Barney and the kids.

    Even if Marge didn’t marry Barney he might still be able to take a share because he is a de facto spouse. If the will was in place still he could make a family provision claim. there is also the possibility that Marge will knowingly prepare a new will and leave Barney something - or everything.



    So when making a will consider that your spouse could enter a new relationship after your death and plan for it. Assume it will happen
     
    lixas4 and Perp like this.