‘Til Death Do Us (Not) Part?
In life, circumstances change over time – as do the people in it. You will go through friendships ending, break-ups or divorces and this could interfere with your plans when deciding to whom you will leave your estate in the event of your death. It may seem somewhat redundant to bequeath your stuff to your ex but in many circumstances, this might be the most convenient case. Perhaps you have children together or spent decades as spouses before breaking it off, or maybe you have simply chosen to remain friendly in one another’s lives. Whatever the reason, sometimes your past is part of your present.
USAWillGuru.com – a provider of will & testament information– surveyed 5,000 divorcees which found that 9% of Bay Staters have included their ex-spouses in their wills.
The survey also asked divorcees if they had experienced an amicable breakup, and it was revealed that over one-third (34%) of Bay Staters said their breakup ended on good terms - below the national average of 45%.
However, Nevadans were the least likely to go through a harmonious breakup with only 15% saying they ended their relationship amicably. Comparatively, Utahns had the highest percentage of amicable breakups in America with a whopping 79% of respondents saying this was the case.
You can see a breakdown of results across America with this interactive map:
Do you consider yourself to be ‘in the loop’ with what your partner's financial affairs? USAWillGuru.com’s research also discovered that in fact, nearly one-fifth (18%) of respondents admit they do not know what their partner has included in their last will and testament.
Equal expectations: 85% of people say that if they included their spouse or domestic partner as a beneficiary in their will, they would expect the same from their significant other.
Respondents were also asked who they plan to include as beneficiaries in their last wills & testaments and close to 3/4 said they would pass their assets on to their family. 21% said they would gift proceeds to charity and just 2% said their assets would go to their friends.
It is well known how close Americans are to their pets. So it was unsurprising that over 1 in 10 pet owners (12%) said they have included provisions for their pets in their wills. While it is not possible to leave physical assets to your furry friend, you can put measures in place to ensure your pet is adequately cared for after your death.