Most people aren’t aware that a Will they wrote prior to a marriage or the birth of a child is likely revoked, at least in part, and no longer leaves their estate as their Will states. Let’s look at two scenarios, one the results of a marriage after writing a Will and the second, the results of future children if not anticipated in the Will.
In the first, Janet is a divorcee with two grown children. At 53, Janet never thought she would marry again, but then she met Fred and two years later they had a quiet courthouse wedding. Janet and Fred agreed that they wouldn’t change the Wills they made before getting married. Janet’s Will left everything to her two children and Fred left everything to his sister. Janet died at 95, but when her children went to probate her Will, they were surprised to learn that the Will was revoked and Fred was entitled to 1/3 of Janet’s assets. Janet’s Will was revoked as to how the property is split after her marriage to Fred because there was no clause stating that she was making the Will in contemplation of marriage. Janet should have made a new Will acknowledging that she is married, but and that she specifically left everything to her children and not her spouse. Without a new Will, the law presumes she did not intend to disinherit her spouse and will, therefore, split her estate between her spouse and children.
In our second scenario, Janet and Mike are married with three children. Janet says that three children are enough and they make Wills that leave everything to each other and then their children and they don’t include a provision for future children. A year later they are surprised with a fourth child, but never remake their Wills. Now, if Janet or Mike dies without making a new Will, they will be treated as having made a provision in the Will leaving the new child a share of the estate and everything will be divided among the fourth child and surviving spouse. To complicate the matter further, because the child is a minor, a conservatorship will have to be established with the courts and the surviving spouse will have to go through rather complicated court processes to manage the child’s money until he/she reaches the age of 18, at which point they receive any remaining money outright.
If you have no Will, or if your Will is revoked, the law determines who receives your assets.
| If you are married with no children | The Spouse receives entire Estate. |
| If you are married with children | The Estate is split equally between the spouse and children; however, the spouse is entitled to no less than 1/3 of the Estate. |
| If you are not married but have children | The estate is split equally between the children. |
A big life change, like marriage or the addition of a new child, should trigger a review of your estate plan to be sure you are leaving your assets to those you intend to leave it to the way you intend to leave it. Come in to Grissom Law and let us help you review your current estate plan, or create one, so you are prepared for your future.
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This Blog/Web Site is made available for educational purposes only as well as to give you general information and a general understanding of the law, not to provide legal advice. By using this blog site you understand that there is no attorney client relationship between you and Grissom Law, LLC.