You’d be surprised at how many we meet who’ve never ‘got around’ to getting married, sometimes after many, many years of being together. Or those of fewer years, but with children, often both joint and previous. Being married can both complicate and decomplicate matters, of course, and money should never be the reason to do the deed. But you need to plan accordingly. You should always have wills, and wills which are up to date, as ‘common law’ usually protects no-one. Life cover should be in place and in trust if there are kids involved. And you should be aware, at least, that if Inheritance Tax is a concern, getting married, even at the last minute, can be an effective tax-planning strategy. As with many things, the real world moves far more quickly than that of the rule makers.
“Inheritance tax on course for record year of receipts (again) amid calls to scrap it”
Will he/won’t he abolish Inheritance Tax? The Pre-Budget rumour is still out there, perhaps ‘running it up the flagpole to see if it catches the wind’, or perhaps to distract from other rabbits which may be pulled from Jeremy H’s figurative hat.
