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Financial Issues This forum is for discussing any of the financial issues involved in your divorce.

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  #1  
Old 10-08-2019, 04:52 AM
WorryAnne WorryAnne is offline
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Default How a Will works

Can anyone advise how does a will works if a man is remarried now after his original Will has been written?

It is worth to write a Will for The remarried man?

If he does not write a Will, will all his asset go to his current wife based on Ontarioís law even he has set up beneficiaries before this marriage in his insurances and pensions?
THanks.
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Old 10-08-2019, 08:04 AM
rockscan rockscan is offline
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My husband redid his will after his divorce outlining specific expectations. Now that we are married technically I am his next of kin but his will needs to be redone. The estate lawyer said it is best to change a will when circumstances change.

His insurance is still left to his kids as that is what his agreement dictates until he is done paying cs.
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Old 10-08-2019, 08:52 AM
standing on the sidelines standing on the sidelines is offline
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Quote:
Originally Posted by WorryAnne View Post
Can anyone advise how does a will works if a man is remarried now after his original Will has been written?

It is worth to write a Will for The remarried man?

If he does not write a Will, will all his asset go to his current wife based on Ontarioís law even he has set up beneficiaries before this marriage in his insurances and pensions?
THanks.
if he has set up beneficiaries then his insurance and pension go to the named parties.

A new marriage does not mean that the new wife gets everything no matter what is in the will or who the beneficiaries are. He needs to write a new will and if he wants to change his beneficiaries for his insurance and pension he needs to contact them and fill out a form to reflect his new wishes.
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Old 10-08-2019, 10:31 AM
HammerDad HammerDad is offline
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Quote:
Originally Posted by standing on the sidelines View Post
if he has set up beneficiaries then his insurance and pension go to the named parties.

A new marriage does not mean that the new wife gets everything no matter what is in the will or who the beneficiaries are. He needs to write a new will and if he wants to change his beneficiaries for his insurance and pension he needs to contact them and fill out a form to reflect his new wishes.
Marriage invalidates all prior Wills. That is the law. If you marry and don't get a new will, you are deemed to have died intestate and your assets are distributed as set out in the legislation. So the current spouse gets the lions share, and then any children get the remaining. Former spouses would have to make a claim against the estate to be included.

Insurance beneficiaries remain the same unless changed by the insured.

https://ontario-probate.ca/will-basi...e-re-marriage/
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Old 10-08-2019, 10:40 AM
dad2bandm dad2bandm is offline
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Always have an updated will - especially if remarried.
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  #6  
Old 10-08-2019, 07:54 PM
standing on the sidelines standing on the sidelines is offline
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Originally Posted by HammerDad View Post
Marriage invalidates all prior Wills. That is the law. If you marry and don't get a new will, you are deemed to have died intestate and your assets are distributed as set out in the legislation. So the current spouse gets the lions share, and then any children get the remaining. Former spouses would have to make a claim against the estate to be included.

Insurance beneficiaries remain the same unless changed by the insured.

https://ontario-probate.ca/will-basi...e-re-marriage/
I stand corrected. Thanks for that, always good to know.
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Old 10-08-2019, 10:18 PM
rockscan rockscan is offline
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I say this for the benefit of future readers...

Most agreements outline life insurance to cover the future child support and expenses for the kids. The Divorcemate program can calculate how much a person should be carrying for this.

Thats all a divorced parent is obligated to do. There is no rule that an ex has to have their kids or their ex in a will. If they meet a new spouse and have more kids they could get a new will done cutting previous kids out. They could also leave their entire estate to the neighbours cat.

This is all to say donít waste your time fighting for something that isnít in the rules. You get what is dictated to support your kids.
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Old 10-09-2019, 11:38 AM
dad2bandm dad2bandm is offline
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Google,
"The Importance of Updating your Affairs on Separation and Divorce"


It will bring up an external legal site's info on this, which seems like a really great summary of the things you need to be mindful of, and why it's good to make a new will. (primarily for Ontario)


(I didn't want to link to the site directly here, as it's another legal firm's site (Toronto)




Also, the OP specifically mentions a "remarried" situation here. For anyone stumbling across this thead down the road, bear in mind, that this works differently if you were only common-law, or you didn't get remarried.



Consult a lawyer, and always update your will.

Last edited by dad2bandm; 10-09-2019 at 11:44 AM. Reason: Added caution about "remarried" only discussion
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Old 10-09-2019, 12:07 PM
HammerDad HammerDad is offline
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Quote:
Originally Posted by rockscan View Post
I say this for the benefit of future readers...

Most agreements outline life insurance to cover the future child support and expenses for the kids. The Divorcemate program can calculate how much a person should be carrying for this.

Thats all a divorced parent is obligated to do. There is no rule that an ex has to have their kids or their ex in a will. If they meet a new spouse and have more kids they could get a new will done cutting previous kids out. They could also leave their entire estate to the neighbours cat.

This is all to say donít waste your time fighting for something that isnít in the rules. You get what is dictated to support your kids.
A quick comment to the above, if you are planning to cut someone out (like a child) you have to be careful that you specify why, and the reason why cannot be unconscionable (ie. the child gets nothing because they married a person of another race, and the parent is a racist POS). You need to be clear that they get nothing because they didn't have a relationship with the parent for example. Another way to put in the Will that the child gets $1 or a nominal amount. Wills that are unconscionable may be set aside. I've read of 2 cases recently.

The rule of thumb is that you need to provide for your family and if you are not, you need to show why you chose not to.
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Old 10-09-2019, 12:09 PM
HammerDad HammerDad is offline
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Quote:
Originally Posted by dad2bandm View Post
Also, the OP specifically mentions a "remarried" situation here. For anyone stumbling across this thead down the road, bear in mind, that this works differently if you were only common-law, or you didn't get remarried.

Consult a lawyer, and always update your will.
Good point. Marriage invalidates prior wills. Becoming common law does not.
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