Protecting your children's inheritance
Posted on 12th January 2019 at 20:36
How can you be certain that your children will receive an inheritance if you die before your spouse and they remarry?
This is a real concern for many people I speak to. Nowadays there are many different types of families, following separations and divorces resulting in a more complex family situation.
If you make traditional mirror wills, leaving everything to your spouse and an agreement that on second death, everything will pass to your children, how can you be sure that if you die first and your spouse remarries, your children will get any inheritance? On marriage, or in this case, re-marriage, the will is invalidated and a new will would be needed. What if your spouse set up a similar arrangement to yours and left everything to their new spouse, on the understanding that on their death everything would then go to the children. If your spouse died first, there would be nothing to stop the new spouse from changing their will altogether, cutting your children out completely.