The days of straightforward inheritance planning are long gone. With more people experiencing multiple marriages, blended families, and step-relatives, estate planning has become significantly more complex. What once seemed simple, leaving everything to your children, now requires careful thought to avoid unintended disputes and legal battles.
The Risk of an Outdated Will
Many assume that it’s set in stone once they’ve written a will. However, a lesser-known fact is that remarriage automatically cancels any existing will. If a new one isn’t implemented, intestacy laws kick in, giving the first £270,000 of your estate to your surviving spouse, with the remainder split between them and your children. This can create tension and, in some cases, leave children with far less than originally intended.
If no new will is created, you risk leaving behind not just an inheritance, but also a legal dispute between your spouse, stepchildren, and biological children. This is why updating your will after major life changes is crucial.
Who Can Make a Claim?
The 1975 Inheritance Act allows spouses, former spouses (who haven’t remarried), cohabitees, children, and even stepchildren to contest a will. However, the law typically prioritises the spouse, meaning that your intended wishes for your children may not be honoured if your will is deemed unfair.
One common mistake is relying on mirror wills, where each partner leaves everything to the other, with the assumption that the remaining assets will eventually pass to the children. Unfortunately, these wills can be rewritten, or even ignored if your partner remarries.
How to Protect Your Children’s Inheritance
To strike a balance between providing for a spouse and ensuring your children still receive their rightful inheritance, Life Interest Trusts offer a strong solution. This allows a spouse to benefit from assets (such as living in the family home) for the rest of their life, without actually owning them. Once they pass away, those assets are then distributed according to your original wishes, ensuring your children don’t lose out.
Communication is Key
One of the biggest causes of inheritance disputes is surprise. Many claims arise not because a will is legally invalid, but because family members were blindsided by its contents. Estate lawyers consistently advise clients to discuss their wishes openly with family members to avoid misunderstandings.
Mark Lindley, a partner at Boodle Hatfield, advises:
“The best thing you can do is take advice. Don’t rely on DIY wills, make your wishes known—and accept that some people may be unhappy with the outcome.”
Avoiding the Pitfalls
To prevent future legal battles and ensure your wealth is passed on as intended:
- Update your will after major life events (marriage, divorce, birth of children, significant financial changes).
- Consider Life Interest Trusts to protect both your spouse and children.
- Be wary of mirror wills, they may not hold up after remarriage.
- Discuss your plans with loved ones to reduce the risk of disputes.
- Seek professional legal advice, a DIY will could potentially leave your family facing costly legal battles.
By taking these steps, you can ensure your estate is passed on smoothly—without leaving behind a legacy of family conflict.
