Protecting your assets in a second marriage or civil partnership

Any will made prior to a marriage or civil partnership is automatically revoked when the marriage / civil partnership takes place, unless the will was made in anticipation of the marriage/civil partnership and this is stated in the will. It’s important that upon a second marriage/civil partnership, you make a new will to avoid the complications of dying without a will and to ensure your wishes are carried out.

If you do not have a valid will then your assets will pass under the Rules of Intestacy. This means that if you have children, the first £250,000 of your estate will automatically pass to your spouse and any excess would be shared between your spouse and your children equally. This may not reflect your wishes and may mean that your spouse and/or children are not adequately provided for.

You can protect the assets which you bring into a second marriage/civil partnership by the use of a trust within your will that allows your spouse to benefit from the assets during their lifetime but ultimately leaves your assets to your children.

You may want to consider making a pre-nuptial agreement before you get married again. This will ensure that your assets are protected should your second marriage break down. A pre-nuptial agreement is a legal document that is made before the marriage takes place and sets out how the assets will be dealt with if the marriage breaks down.

If you own a property as joint tenants it may be a good idea to change this to tenants in common. This means that you have more control over who your share of the property passes to.

Our Wills, Probate & Trusts team are always happy to help and answer any further queries you may have. They can be contacted by calling 01302 341414 or 0114 272 1884, alternatively, you can fill out our online enquiry form.