6 TOP TIPS WHEN GETTING DIVORCED
Divorce is, without doubt, one of the most difficult times that a person will go through. Having good advice and people around you that you trust is key to coming out the other side in one piece.
Mediators and family lawyers will advise you on the practicalities of divorce but are there other things that you should also think about. Here are six handy hints that could benefit you significantly:
- Make a Will: If you do not have a Will you need to make one. You need to ensure your soon to be ex cannot benefit from your estate. As your soon to be ex is still married to you if you do not have a Will the Intestacy Provisions state that a husband or wife are the first beneficiaries to inherit from an estate. Should you die before you receive your decree absolute they will inherit your assets.
- Or update your Will: If you have a Will you need to change it. You need to change your Will before you receive your decree absolute to ensure that your soon to be ex does not benefit. You can write him or her out of your Will and prepare a letter to sit with your Will to explain why they are not a beneficiary.
- Make Lasting Powers of Attorney (both of them): If you do not have Lasting Powers of Attorney you need to put them in place. Without a Lasting Power no one has any authority to act on your behalf should you lose the capacity to manage your own affairs. Putting these in place enables you to choose who you want to manage your affairs and provides clarity to all concerned.
- Review your Lasting Powers: If you do have Lasting Powers in place review them. Is your soon to be ex appointed as one of your Attorneys? If so this may complicate the operation of the Power(s). You should review them and make new ones if needed.
- Property Ownership: Review how you own your home. If you own your property with your soon to be ex as joint tenants you need to sever the joint tenancy to ensure that your share of your home passes to the beneficiaries under the terms of your will and not to your soon to be ex upon death.
- Review your income: If you are now a single person living at home you will be considered to be a single person for benefit and tax purposes. Check to see whether you are receiving all of the tax credits, housing benefits and council tax benefits you are entitled to.
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Published by Claire Godwin 11 March 2016