There has been an increase in urgent marriages last year as people save big Inheritance Tax Bills. Statistics have found that more couples are choosing to marry prior to one of the couple dying.
There has been a significant increase in cohabiting couples living as common law husband and wife in recent years. Unfortunately many of these common law spouses think that their shared assets will receive the same legal protection as couples that are married. This is incorrect as unmarried couples individual assets will not pass freely to their partners upon death, leaving their Inheritance Tax problems and possibly forcing the sale of their home to fund the tax bill.
Comedian Ken Dodd married his partner of 40 years Lady Anne Dodd just before he died. The marriage prevented his estate having to pay over £2 million in Inheritance Tax as it was predicted his estate was worth around £7.2 million.