Should I Marry my Beneficiary to Avoid Inheritance Tax?

JadeMWW81

Hi all,

My question is far from romantic, it is more practical.

I have worked hard all of my life and I now own a property and assets.

I am an only child, I am single, i have no family (except my estranged mother, which I will come to later).

My best friend of 30 years will be the sole beneficiary. Everyone we know says we act like a married couple. I read an article saying if people are married, the inheritance tax carries over to the other person. He will be moving into my house as a tenant. He is not on the deeds to my house, or on the mortgage however, I suggested to him perhaps we should marry for inheritance tax purposes. 

We are both single, he has no intention for finding himself a wife, and I will not find a husband, so could it be a logical and practical idea for us to marry?

The only thing which would be different is we would have a marriage certificate.

If we were to marry would he then need to be put on the deeds, and or the mortgage, or would he automatically inherit my property without paying inheritance tax? 

He is the only beneficiary in my will.

i also read there are other benefits such as bereavement benefit available to a spouse if the other spouse were to pass away.

Incorpoated in my will it will also state my mother has absolutely no rights, and would not ever benefit from my death under the intestacy rules. If I have included this in my will as well as an additional letter, can she still contest my will? Would being married to my friend make any difference to this? 

Any advice on the above would be appreciated.

TheSpectator

Why not a Civil Partnership rather than 'full blown' marriage? Same result as far as the law and tax.

Lorian

Perhaps an option is a Civil Partnership.

mebu60

Have you made arrangements in your will should he pre-decease you? Could be even more pertinent if you are a beneficiary in his will. You will probably need to rewrite your current will upon marriage / civil partnership. There is also the prospect of divorce if married / in a civil partnership! 

GrumpyDil

And unless you are supporting your mother at the time of your death she won't have a decent claim on your estate. 

As you will have a will the intestacy rules do not come into play although a statement saying I leave 1p to my mother/father/husband etc used to be used as an indication that the testator had considered that individual and consciously left them a very token amount rather than having forgotten them.

That said, as you are so clear that you don't want your mother to receive anything I would suggest you make sure that you will leaves everything to a charity in the event that you die last. 

LightFlare

If for any reason you have a falling out and subsequently divorce - they may have a valid claim on what are currently your assets. (At least a proportion of them)

greyfox

Don't forget that your existing Wills would be void if you married (or, I assume, entered a Civil Partnership) so you each would have to make a new one "in anticipation".