Are you Divorced and Now in a New Relationship ?

Author: Heather Warnock
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Recent research has been carried out by Direct Life Line Insurance which revealed that 60% of divorced adults in the UK, who are now in a new relationship, have failed to update any of their personal finances since their previous marriage. This includes the beneficiaries of their pension, death in service benefits, health and life insurance, money in trust or their will.

2000 UK adults took part in the study which found that 29% of those previously married and now in another serious relationship haven’t made provisions for their new partner in their will and those that did update their will to reflect their new circumstances took on average two years to do so.

14% of the sample had made provisions in their will for children from their previous marriages while 68% of the respondents who are divorced with children did not transfer any assets to them before re-marrying or entering a new relationship. Only 7% claimed to have amended their health insurance with 6% revising their life insurance. One in five updated their pension beneficiary by switching the recipient details to their new partner with equal hesitation in updating the recipient of death in service benefits.

Jane Morgan the business manager at Direct Life Line Insurance concluded on the findings:

“Our research shows that many Brits are letting their financial administration slip behind when it comes to updating wills, pensions and policies. It can be easy to forget about things like death in service certificates….but it’s important to keep these up to date.”

If I can help you update any documentation please contact me Heather Warnock on 0141 552 3422 or by email heather@mitchells-roberton.co.uk

Heather Warnock

About Heather Warnock

Heather joined Mitchells Roberton in March 2013 as a Financial Guardian Administrator having graduated with a first class honours degree in law from Glasgow Caledonian University in 2011 and thereafter having completed her Diploma in Legal Practice at Strathclyde University in 2012. She was taken on as a trainee of the firm and started on 2nd June 2014. Heather has now completed her traineeship and is staying with us as a qualified assistant working in the Private Client Department. She will be assisting with succession and trust issues, the administration of estates and the preparation of Wills and Powers of Attorney. Heather is consistently client focused and is skilful in dealing with clients in circumstances which are frequently emotionally charged.Currently Heather is studying for the STEP Diploma in Trusts and Estates-Scotland and has passed her first exam Wills and Executries – Law and Practice with Distinction. Heather who is originally from Northern Ireland loves going home to visit her family whenever she can. She enjoys live comedy and the theatre. She is an excellent cook and expert baker….most welcome skills for our office. Email: hw@mitchells-roberton.co.uk

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