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Writing wills 'can offer protection for unmarried couples'
Practice area: Wills, Estate Planning & Probate
Unmarried couples have been advised of the potentially key role a will can play in protecting the financial security of a surviving partner.
A new report in the Guardian has highlighted the fact that those in cohabiting relationships can often be left out of pocket or facing
inheritance tax should their partner die intestate.
This is due to the fact that estates will pass automatically to the next of kin if a person is unmarried, unless they have provided a will to specify otherwise.
The newspaper warned that such a state of affairs could result in a surviving partner being forced to challenge the family's position in court in order to claim their share of the estate.
Couples were also warned that cohabiting partners will face further
inheritance tax charges if they inherit a primary residence, thus further demonstrating the importance of writing a will to
estate planning.
This comes after Ark
Financial Planning earlier this month stressed that
wills are a "simple" step which people can take towards ensuring their loved ones are provided for.
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