Will Advice Please

BobQ

g6jns wrote: »

Some friends of mine were in very similar circumstances. Obviously new wills would be sensible but that does not overcome the potential tax liabilities. What my friends did was to have a registry office wedding in a town well away from where they lived. Just two witnesses and nobody need be any the wiser. If you do this still make the wills with the appropriate clauses before the wedding and they will still be vald afterwards.

To be clear, wills are invalid after a marriage unless you explicitly state in the will that it is written in anticipation of a forthcoming marriage.

I think this is what g6jns was alluding to.

AngelOfTheNorth

OP you should also check what entitlement your partner has to your pension if you predecease her. They don't all pay out to unmarried partners, especially the older ones. You and your OH are potentially in quite a vulnerable position. I'd use this as an opportunity to get all your financial affairs in order and make sure the other has as much legal protection as possible.

Regarding tenancies, if you have a joint tenancy you have equal shares, and when one joint tenant dies their share goes to the other. It's if you're tenants in common that you might run into trouble.

g6jns_2

BobQ wrote: »

To be clear, wills are invalid after a marriage unless you explicitly state in the will that it is written in anticipation of a forthcoming marriage.

I think this is what g6jns was alluding to.

Yes it is despite my typo! Such wills have to specify the exact person the testator is marrying not just that they are planning to marry.

g6jns_2

AngelOfTheNorth wrote: »

I don't understand why you wouldn't just make wills tbh.

Because of the IHT advantages.

AngelOfTheNorth

g6jns wrote: »

Because of the IHT advantages.

What IHT advantages are you thinking of by remaining unmarried?

Mojisola

AngelOfTheNorth wrote: »

What IHT advantages are you thinking of by remaining unmarried?

The advantages are gained by getting married.

AngelOfTheNorth

Yes, that was my thought. So I was wondering what IHT advantages OP and his partner are enjoying by remaining unmarried and without wills?

G6JNS

AngelOfTheNorth wrote: »

Yes, that was my thought. So I was wondering what IHT advantages OP and his partner are enjoying by remaining unmarried and without wills?

There are none as far as I can see.

NarkT_Ov

AngelOfTheNorth wrote: »

OP you should also check what entitlement your partner has to your pension if you predecease her. They don't all pay out to unmarried partners, especially the older ones.

She gets a 52% pension should I die before her until she dies. It's written into my pension agreement.

Best we both bang our heads together then and get a WILL sorted asap.

Tuesday_Tenor

AngelOfTheNorth wrote: »

Regarding tenancies, if you have a joint tenancy you have equal shares, and when one joint tenant dies their share goes to the other. It's if you're tenants in common that you might run into trouble.

Strictly speaking, joint tenancy isn't concerned with shares.

Joint tenancy: you each own 100% of the property, but in joint names. When one of you dies the other continues to own 100% but now in their sole name.

Tenants in Common: you each own a specified share of the property. Usually 50% each. When you die, your 50% is part of you estate and you can leave it to whoever you like in your will, not necessarily the co-owner.
If you don't leave a will your share of the property will be inherited according to the laws of intestacy.