I’m living with my partner, we aren’t married or in a civil partnership, do I need a will?
It’s a question many couples think about but often put off.
You may share a home, finances, and a life together, so it can feel natural to
assume that everything would pass to your partner if something happened to you.
However, the legal reality in the England and Wales is quite different. Let’s
look at some of the considerations.
What happens if you don’t make a will?
If you die without a will, your estate is distributed under
the rules of intestacy. These rules follow a strict legal order that does not
include unmarried partners. Your partner could be left with financial
uncertainty at an already emotional time, particularly if they were relying on
shared income or assets.
If you die without a will, your estate is distributed under
the rules of intestacy. There are different rules in England & Wales,
Scotland, and Northern Ireland, but in all three jurisdictions they follow a
strict legal order that does not include unmarried partners. Your partner could
be left with financial uncertainty at an already emotional time, particularly
if they were relying on shared income or assets.
Your property may be more vulnerable than you think
Property can be a big area of concern. If you own your home
as tenants in common, your own share of the property does not automatically
pass to your partner. This can leave
your partner wondering what might happen to them with no right over your share
of the home. This could lead to disputes
and your partner needing to sell the home.
Don’t forget inheritance tax
Another, often overlooked, issue is inheritance tax
(IHT). Married couples and civil
partners benefit from a spousal exemption, meaning assets can pass between them
without the immediate concern of inheritance tax. Unmarried couples do not
receive the same protection. This means that even if you leave everything to
your partner in a will, inheritance tax could still be a factor depending on
the size of your estate. Without planning, your partner may face an unexpected
tax bill at an already difficult time.
Blended families need extra care
If either or both of you have children from previous
relationships, it is even more important to look at planning ahead. Without a
will, your children are entitled to inherit your estate under the rules of
intestacy, potentially leaving your partner with little or no financial
security.
On the other hand, leaving everything to your partner
without careful planning could unintentionally affect what your children
eventually receive. A carefully drafted will allows you to balance both, which
would ensure the protection and support of your partner, whilst also providing
for your children in the way that you would want.
Peace of mind starts with a will
If you’re living with your partner but aren’t married or in
a civil partnership, a will is one of the most important documents you can set
up. It ensures that your partner is protected, considers the needs of any
children from previous relationships, and helps you plan for potential
inheritance tax issues.
Most importantly, it gives you peace of mind knowing that
your wishes will be carried out in the way you choose and the life you’ve built
together is properly safeguarded.
It is so important to have an initial conversation to see
where you stand and what your options are.