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Hi, We purchased our house in 1987 and it is both our names. We have a joint bank account,He has two private pensions which have me as beneficiary if he dies and we have made a will. We are not married. I am 75 and he 79. Do we need to get married or we ok as we are?
If you have children - then being married could make a substantial difference to how much they eventually inherit.
If one member of a married couple dies and leaves everything to their spouse - then the surviving spouse wil be able to use their unused nil rate band and residential nil rate band.
you are wasting a big inheritance tax allowance if you don't marry or get civil partnered. BUT either of these will revoke an existing will so you will need to make new ones - you can do them in anticipation of marriage.