As life shifts, especially through something as major as a divorce, your estate plan can quietly become outdated and you may not know it, but a legal headache could be right around the corner.
If you’ve recently separated or are finalising a divorce, revisiting your will and any trusts you’ve set up is absolutely essential. In fact, not updating your documents can mean your ex ends up with control over your assets, guardianship of your children, or even a share of your estate long after the relationship has ended.
For those going through this complex situation, consulting a will disputes solicitor in Melbourne or experienced lawyers in Ringwood can help you avoid costly mistakes and make sure your estate plan reflects your new reality.
What Actually Changes After Divorce?
Almost everything in your estate plan could be affected.
In Victoria, divorce has a direct impact on your will. Once your divorce is final, any references to your former spouse in your will, whether as a beneficiary, executor, or trustee, are automatically revoked. That might sound like a relief, but it can actually leave your will in a messy state or, worse, partially invalid.
For example, you made a will during your marriage leaving everything to your spouse and naming them as executor. Once the divorce is final, they’re removed from those roles but if you haven’t named someone else, your estate could end up in legal limbo.
What about trusts? These don’t always work the same way as wills. If your former partner is listed as a trustee or a beneficiary of a family trust, those arrangements don’t automatically change when you divorce. You may need to take specific legal action to remove them or risk them maintaining access to your assets indefinitely.
It’s also important to note that separation does not affect your will the same way as divorce. If you are separated but still married it is very important that you review your will and update it accordingly.
Why You Need to Act Quickly
Too many people assume they’ll get around to changing their estate documents but life moves fast, and unexpected events like illness, accidents or even remarriage can complicate matters if your documents don’t reflect your current wishes.
If you die before updating your will or trust post-divorce, your estate could be administered in ways you never intended. This is where things can get particularly difficult and where a will disputes solicitor in Melbourne often gets involved to untangle the mess.
What About Superannuation and Life Insurance?
Your Will doesn’t necessarily control everything.
Your superannuation and life insurance policies are separate from your estate and usually require a specific binding nomination to determine who receives the funds. If your ex is still the nominated beneficiary on those accounts and you forget to change it, they could receive the payout, even after you’ve divorced.
Updating those nominations is just as important as updating your will.
How a Lawyer Can Help
Divorce is not an easy time for anyone, so working with experienced lawyers in Ringwood or your local area can provide much-needed clarity and peace of mind. A lawyer will review your current will and trust documents, help you revoke outdated provisions, assist in naming new executors, guardians, and beneficiaries and review any joint assets or trust structures tied to your ex-spouse.
They’ll also look out for any grey areas that could lead to a dispute down the track saving your family a lot of heartache and legal expenses.
Will Disputes Are Real and Expensive
Unfortunately, estate disputes are on the rise. Blended families, complex financial arrangements, and outdated documents often result in legal challenges especially if someone feels they were unfairly left out or if your intentions aren’t clearly documented.
A will disputes solicitor can help you not only clean up your estate plan after divorce but also put structures in place to minimise the risk of future challenges.
If you’ve gone through a separation or divorce, don’t leave your estate plan stuck in the past. Whether you have a simple will or a complex trust arrangement, revisit it with the help of skilled lawyers. Ringwood locals can rely on Robert Wood and Associates, we’re here to help ensure your legacy is protected and your wishes are honoured.
Speak to us today by calling 03 9762 3877 or fill out on online contact form now and we’ll get back to you promptly.
