Families come in all shapes and sizes.
Second marriages, new partners, children from previous relationships and stepchildren are all part of modern family life. But when it comes to Wills and inheritance, blended families can bring additional considerations that are easy to overlook.
The important thing is not to assume that everything will automatically work out in the way you expect.
What happens if you don’t have a Will?
If you die without a valid Will, your estate is distributed according to the rules of intestacy.
Those rules don’t take into account the individual relationships within your family or what you might personally have wanted.
For example, stepchildren do not automatically inherit under the intestacy rules unless they have been legally adopted. Equally, if you live with a partner but aren’t married or in a civil partnership, they do not automatically inherit from your estate under those rules.
For blended families, this can create very different results from those someone may have expected.
What if you’ve remarried?
This is another important area to consider.
In England and Wales, getting married or entering into a civil partnership will usually revoke a Will you made beforehand, unless that Will was specifically made in contemplation of the marriage or civil partnership.
So if you have remarried but haven’t revisited your Will, it is worth checking exactly what arrangements you currently have in place.
Balancing the needs of your partner and your children
One of the most common concerns we hear from people in blended families is:
“How can I look after my partner while also making sure my children ultimately inherit?”
There isn’t one answer that works for every family.
You may want your spouse or partner to have security for the rest of their life while also wanting particular assets to eventually pass to your children.
Depending on your circumstances, your Will can be structured to reflect those wishes. Trust arrangements may also be appropriate in some cases.
The important thing is understanding the options available and choosing an arrangement that reflects what you actually want to happen.
What about stepchildren?
If you want a stepchild to benefit from your estate, it is particularly important to make your wishes clear.
A stepchild who hasn’t been legally adopted by you isn’t treated as your child under the intestacy rules.
That doesn’t prevent you from providing for them in your Will. It simply means you need to make appropriate provision rather than assuming they will inherit automatically.
Don’t forget the practical decisions
A Will isn’t only about deciding who receives what.
You should also think about:
- Who you want to act as your Executors
- Who should look after younger children if appropriate
- Whether particular possessions should go to particular people
- How property is owned
- Whether your wishes have changed since your existing Will was written
In a blended family, having these conversations can be particularly valuable because different people may otherwise have very different expectations.
When should you review your Will?
A Will shouldn’t necessarily be something you make once and never look at again.
Marriage, divorce, a new relationship, the birth of children or grandchildren, changes to your finances and changes within the wider family can all be good reasons to review your arrangements.
Even if nothing needs changing, a review can provide reassurance that your Will still does what you intended.
Making your wishes clear
Blended families don’t necessarily require complicated estate planning. They do, however, make it especially important not to leave things to assumption.
A properly considered Will can help you provide for the people who matter to you, make your intentions clear and reduce the possibility of uncertainty for your family later.
Need some advice?
If your family circumstances have changed, or you’re unsure whether your current Will still reflects what you want, we’re here to help.
Anvoner Law
Clarity. Care. Confidence.
020 8449 0003
www.anvoner.co.uk
