Image:
When one partner of an unmarried couple dies, their estate becomes liable for IHT on any assets above the IHT allowance, according to Alcock, independent financial adviser at Continuum
As marriage is in decline and the number of over-70s cohabiting without getting married or entering a civil partnership is booming, large numbers of couples risk having to pay large inheritance tax bills should one pass away, according to national IFA firm Continuum.
The number of couples choosing to cohabit has increased massively over the past two decades, Continuum said. According to the latest figures from the Office for National Statistics (ONS), in 2002 t...
To continue reading this article...
Join Professional Adviser
- Unlimited access to real-time news, industry insights and market intelligence.
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters.
- Make smart business decisions with the latest developments in regulation, investing retirement and protection.
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes.
