Going through a divorce is a challenging and emotionally taxing experience. Amid the many pressing issues; such as child arrangements, financial settlements, and living arrangements, it’s easy to overlook the need to review your Will and Lasting Power of Attorney (LPA) documents. However, in England, failing to update these crucial documents during a divorce can lead to unintended consequences that may not align with your current wishes.
Why Review Your Will?
Under English law, divorce has a significant impact on your Will. If you do not update your Will during or after your divorce, any provisions that name your ex-spouse as a beneficiary or executor could be affected. While divorce treats your ex-spouse as if they had predeceased you, this can lead to gaps in your estate planning. For instance, if your ex-spouse was named as your sole executor, and no alternative was appointed, your estate could be administered by someone you didn’t intend.
Also, if you have children, it is crucial to ensure that their inheritance is protected and managed in a way that aligns with your current intentions. You might want to consider appointing new guardians or setting up trusts to safeguard their future.
The Impact on Lasting Power of Attorney (LPA)
LPAs allow you to appoint someone to make decisions on your behalf if you lose capacity. During a divorce, it’s common to revoke or revise any LPAs that appoint your soon to be ex as your attorney. If you do not, they could retain the legal authority to make significant decisions about your health, welfare, and finances—decisions that might conflict with your best interests during or after the divorce.
Taking Action
Reviewing and updating your Will and LPA documents during a divorce ensures that your current wishes are accurately reflected and legally enforceable. This proactive step can help you avoid complications, prevent unintended beneficiaries from inheriting your estate, and ensure that only trusted individuals are empowered to make decisions on your behalf.
As a family law specialist, I strongly advise anyone going through a divorce to seek legal advice on updating these critical documents. It’s an essential part of protecting your future and ensuring your estate is managed according to your current wishes. Speak with one of our family specialists here.
The Family Team at Gardner Leader LLP work with our colleagues in our Wills, Probate and Estate Planning team to ensure no aspect of the consequences and divorce is overlooked.