LEGAL PROMO
Rebecca Fisher
Kieran Bowe
MIXED-SEX
civil partnerships Planning for you and your family Civil partnerships offer significant tax advantages from an estate planning perspective. Until recently, these were off limits to mixed-sex couples in committed relationships, who felt that the institution of marriage was not right for them. Now, thanks to the extension of civil partnerships to mixed-sex couples, these couples have an alternative means of enjoying these advantages. Whether you are currently in a civil partnership or are contemplating one in the future, it is important to understand how that status may impact your estate planning. Here are a few frequently asked questions that may shed some light on civil partnerships and what they mean for your Will. Does entering a civil partnership affect my existing Will? In most cases, your pre-existing Will is automatically revoked (cancelled) when you enter into a legally binding marriage or civil partnership. For this reason, we recommend that newly married couples or civil partners make new Wills as soon as possible. However, there is an exception to the rule above. This is where the Will expressly states that the person making the Will is making it with the anticipation of marrying or entering into a civil partnership with a particular individual. 26
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If I die without leaving a Will, will my entire estate pass to my civil partner? When somebody dies without leaving a valid Will in England and Wales, their estate is distributed in accordance with the law known as ‘the rules of intestacy’. Many people assume that when they die their entire estate will pass to their surviving spouse or civil partner. However, if you have children and/or the value of your estate exceeds ÂŁ270,000, the position will often be different. Will the dissolution of my civil partnership affect my existing Will? Your Will does not automatically become invalid in these circumstances. However, once the Court has ordered a decree of dissolution (or decree absolute), any provisions in your will which benefit your ex-partner (or appoint them as the executor/ trustee of your estate) are automatically revoked. Your estate would then pass in accordance with the other terms of your Will. If there were no other beneficiaries named in your Will, the rules of intestacy will apply. We recommend that our clients make new Wills which better reflect their wishes after a dissolution or divorce. What does a civil partnership mean for my Will and my estate? There are significant incentives to formalising your relationship when it comes to tax. All individuals domiciled in England and Wales,
