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Ask the Expert: Do I need to update my will if I’ve just got divorced?

Carl Lamb, managing director of Almary Green

Carl Lamb, managing director of Almary Green

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Do I need to change my will now I’ve got divorced, asks our reader. Carl Lamb of Almary Green responds.

I’ve just gone through a divorce – it’s all finalised now including the financial settlement.

I’ve made a new will but I wonder if I need to do anything about my life insurance and pension fund, as I have a feeling that my ex-wife is still named as a beneficiary on both of these policies.

Will the fact that we are divorced be enough to make sure that anything coming from there will go to the children rather than to her?

Response from Carl Lamb of Almary Green

The short answer is yes, you should update both your life insurance and your pension to reflect your new circumstances.

Death benefits from a pension will depend on the type of plan you have in place: do check with your pension scheme administrator what the benefits are and who can receive them.

For many schemes, when you set up your pension plan you will hopefully have completed an “expression of wishes” form to indicate where you wanted any benefits to go in the event of your death.

Although the actual settlement is normally at the discretion of the insurance/pension scheme administrators, they will generally follow the wishes that you have formally set down.

It is important to update your wishes by completing a new form at this stage, if you don’t want any death benefits to go to your ex-wife.


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