It is common for a couple to make Wills leaving their estate to each other on their first death. However, in second marriages this can cause problems, particularly if either party has children from a previous relationship.
If a couple make Wills leaving their assets to each other on the first death, then the survivor will own all of the combined assets. The problem with this is the survivor is free to change their Will at any time and the first parties chosen beneficiaries could be cut out completely.
The survivor could also remarry which would mean their Will would automatically be revoked and, again, the chosen beneficiaries of the first to die could lose out.
Our experts can help advice you about the various options that are available to you and discuss with you the considerations you need to make.
Our team can talk to you about trusts to help protect your assets for your children, whilst still making provision for your spouse.
For more information, why not click the links below or download one of our helpful guides.
Alternatively, give us a call on 01302 341414 (Doncaster) and 0114 272 1884 (Sheffield) and our friendly team will be happy to have a chat with you.
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01302 341 414