Your partner may choose to remarry after you die, which can lead to a lot of confusion as to whom your money now belongs. You deserve to know exactly who is going to receive your assets and how these will be passed along.
things to think about…
passing finance to your partner
You can pass on all your money to your partner in the form of a will. One option is to rely on Mirror Wills. If you or your partner dies, these documents ensure the survivor inherits the remaining estate.
Mirror Wills are signed by both you and your partner and are virtually identical documents, entitling you/your spouse to the other’s estate in the event of death. However, if the survivor remarries, a Mirror Will may prove insufficient.
Your partner has every right to share the money they inherited from you with their new family; spending it however they desire.
Unfortunately, this is a very real possibility.
Once you’ve passed away, the way your money is spent is up to the discretion of your partner. They may decide not to leave anything for your children, especially if they remarry and have other financial commitments.
ensuring your money always goes to your children
By structuring your will carefully and considering the use of trusts to pass on money to your beneficiaries, you can rest easy knowing that your children will always receive the money you wanted them to have.
We can work with you to build a will and trust fund that works best given your circumstances. Together, we’ll create a financial plan that gives you complete peace of mind.
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