Page 5 - Finance North - E State Planning Service
P. 5
Protection
hotspots
Marriage or co-habiting—How will assets be
distributed on death? who owns what? what
happens if survivor remarries? what about life
insurance pay outs?
Children are born - Guardians will need
appointing and assets need protecting with
Trusts ensuring children receive 100% of their
inheritance.
Divorce - In the event of the parents’ divorcing
their Wills remain valid. New estate planning
needs to be devised to ensure each
individual’s assets benefit the children solely.
Remarriage - Both previous Wills are
automatically revoked. With step children,
each party will want to ensure that their own
bloodline’s Inheritance is protected.
Death of partner – Probate needs to be dealt
with & the beneficiaries require advice on
how to keep their inheritance protected from
care costs, claims, Future IHT.
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