Getting Married and the impact on your current Will
The advent of a new marriage invalidates all Wills made before the date of marriage, such previous Wills being automatically revoked.
Specific provision can however be made in a Will for the contemplation of marriage. This wording needs to be carefully documented to ensure that the Will remains valid once the marriage has taken place.
Signing of your Will
It is paramount that your Will is executed correctly and that you ensure that all the necessary legalities are complied with. Your Will cannot be witnessed by an executor of the Will or anyone who will benefit under the Will.
It is recommended that you seek professional advice in this regard. Your professional adviser can guide you through the process and ensure that you do not make any mistakes that could become costly in the long run or, worse yet, result in you having an invalid Will.
What else should you consider?
A milestone such as a marriage should prompt you to review your Estate Planning. Too often we view Estate Planning only in terms of investments, property, finances and assets. Yes, it is all of these things. However, the focus of proper Estate Planning should also be the people who will benefit from your efforts and your legacy. This may be yourself in the long term, or your loved ones after your death. Failure to do this can have negative consequences for all concerned.
Auckland lawyer, Ian Mellett BComm LLB H Dip Tax is a Barrister and Solicitor at Quay Law in Remuera, New Zealand. Quay Law provides legal services in Marriage and your wills, Wills and Estate administration, Estate Planning, Trusts and Asset Protection, Relationship Property, as well as Conveyancing, Commercial, Immigration and other areas of law. Your choice of lawyer to attend to your needs is an important decision. For relevant legal service or for more information please contact Ian Mellett on +64 9 5232408.
To talk to a conveyancing solicitor about your property transaction and Marriage and your will please contact a lawyer at Quay Law.