With fewer people now engaging in marriages and civil partnerships, and the cohabiting couple on the rise it is important to fully understand your rights and entitlements if you own a property but are not married.
It’s Hannah, Solicitor in our Tax, Trusts and Estate Team here again. Continuing our series of blogs on Cohabitation, this week my blog is about the impact living together can have on inheritance.
Many people are of the assumption that if you have been living with a partner for a number of years ‘as if you were married’ that you are entitled to the same financial provisions upon their death as if you had been a spouse or civil partner. This is not the case and is in fact one of the biggest misconceptions that we private client lawyers see most from clients.
If a person dies without a Will they are said to have died intestate and the intestacy rules will apply. This means that certain relatives and family members will be entitled to any money or property left, known as the estate.
As a spouse or civil partner if your partner dies without leaving a Will you are automatically entitled to the whole of your partners estate, if they have died leaving no children or grandchildren. If there are children or grandchildren you automatically receive all the personal property and belongings of your partner and the first £270,000 of the estate and half of the remaining estate.
If you are merely living together and are not married or in a civil partnership, then this is not the case. You are not entitled to inherit anything under the intestacy rules.
As an unmarried partner in order to inherit anything you must be able to prove that you were living with your partner in a marriage like relationship for at least two years immediately prior to their death, and that you relied on them financially or are now in need. If this is the case you can bring a claim for ‘reasonable financial provision’ under the Inheritance (Provision for Family and Dependants) Act 1975. Any award is likely to be far less than that which a spouse or civil partner would have received as well as considering the added mental and financial stress of bringing a claim in Court.
Whilst we are not saying everyone should get married, we do think it is important that people are aware of the implications outlined above.
The best way to protect and provide for an unmarried partner is to make a legally valid Will leaving provision for them on your death.
For more advice on Wills call me on 01663 743 344 or email me Hannah Mycock
