Why Unmarried Couples Should Consider Making a Will and Lasting Powers of Attorney

Understanding the Legal Risks of Cohabitation Without Marriage

The proportion of couples living together – or cohabiting – has been steadily increasing since 2011. In fact, almost a quarter of adults in the UK now live with their partner but remain unmarried. This presents some challenges in respect of the law which can be unhurried in its reaction to the realities of modern life.

How Marriage Offers Legal Protection

Despite often being seen as an archaic and outdated institution, marriage confers some not insignificant legal benefits. For example, a married person is entitled to a ‘statutory legacy’ of £322,000 from the estate of their late spouse if they die intestate(without a Will). Furthermore, there are substantial tax benefits to being married – in terms of Inheritance Tax, marriage may confer up to an additional £500,000 in tax reliefWhilst perhaps unromantic, these practical benefits of marriage cannot be understated.

The Risks for Unmarried Couples Without a Will

It must be said that the law is not kind to unmarried couples who die without leaving a Will. The “rules of intestacy” which govern the administration of an estate where a person dies without leaving a will make no provision for a cohabitee or so-called ‘common law spouse’, regardless of how long they have lived together or if they have children. Any cohabitee or ‘common-law spouse’ would need to make a claim under the Inheritance (Provision for Family and Dependents) Act 1975 in order to receive anything at all. At a time of tragedy and emotional turmoil, litigation is quite simply the last thing that you would want your loved ones to be forced into and, yet, it may be necessary for their ongoing financial security.

How Making a Will Can Protect Your Partner

Until such a time as the law catches up to modernity, this can be easily avoided by making a Will which benefits your partner, ensuring that your wishes are carried out even after you are gone. At Browell Smith & Co., our experts are able to meet with you to determine your needs and then prepare the necessary paperwork to give you peace of mind about your financial future.

Don’t Overlook Lasting Powers of Attorney (LPAs)

Couples who live together but remain unmarried should also consider making Lasting Powers of Attorney (LPAs). These documents allow you to appoint people to act as your attorneys, giving them the requisite legal authority to make decisions in respect of your finances or your health and care if you are unable to do so yourself. This may be as a result of illness or an accident.

Speak to ourWills & Probate Solicitors

By appointing a solicitor you are able to ensure that your wishes in respect of your finances or your health and care are carried out when you are no longer able to decide for yourself. Without creating LPAs, your partner may be unable to access money held in your sole name, or to be involved in decisions during a medical emergency or long-term care planning. Making LPAs can be tricky but, at Browell Smith & Co., we can help you to smoothly navigate the complex form-filling and registration process.

Call us on 0191 691 3417 or request a callback to speak with one of our friendly, expert solicitors today.