Unlike divorce, marriage separation does not have an effect on your Will. For this reason, the period of separation that occurs prior to divorce is possibly one of the most important times to ensure your Will reflects your changed circumstances.
If you fail to update your Will upon separation, and you pass away, your spouse may inherit any property you have left to them. Similarly, if your Will names your spouse as your Executor, they will be entitled to take up that role regardless if you wanted them to or not. Furthermore, if you do not have a Will, a portion of your estate will still go to your spouse under inheritance laws.
However, divorce does affects your Will. In South Australia, divorce will revoke your former spouse as your Executor, and will revoke any gift you have left them. However, this will still not occur if the court believes you actually intended to leave your former spouse a gift.
Rather than leave these matters to the court to unravel, it’s much better to make a new Will during your separation, to ensure your intentions concerning your former spouse are clear.
You should also consider updating (or putting in place) your binding death benefit notice for your super, so that your super balance (and any insurance in super) ends up where you intend.
If you would like us to review your situation, and provide some advice on how to ensure your assets end up where you intend, call us on 1300 654 590.
Along with the expertise and knowledge, the team at Andreyev helped guide me through the whole process with patience, kindness and understanding. The constant reassurance and professionalism conducted payed off in my legal matter.
I feel incredibly thankful that Marie and Catherine took my case and helped me start my new life.
As a Co-Founder and Executive Director of a fast-growing business securing the right legal advice is paramount to my professional needs, and personal security. Recognising I required the best of guidance and support I needed to find a legal practice and practitioner who could understand my specific needs and provide tailored recommendations to ensure my business kept growing and my assets remained secure.
From the onset I was delighted with the approach from Andreyev Lawyers. They took the time to understand my unique situation and provided considered recommendations. As I do not have a legal background, I particularly appreciated the clarity of communications enabling me to make clearly informed decisions. Subsequently, I decided to proceed with creating a Binding Financial Agreement (BFA) with my partner.
Andreyev Lawyers facilitated the BFA from beginning to end with great care and attention to detail, at each stage keeping me informed and supported. Their attentive and professional service not only resulted in the successful completion of the BFA but all parties ending very satisfied with the outcome due to the ease of process he had led.
I highly recommend Andreyev Lawyers for their professionalism and care and would not hesitate to engage them again in the future.