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Did You Know?

Wedding facts

 

These might not be the most romantic statistics about marriage but worth knowing all the same:

  • If one of you dies, unlike couples who live together, the living spouse will not be liable to inheritance tax on your property.
  • Only a husband and wife, or a couple who have signed a civil partnership, can pass money between them free of inheritance tax.
  • Pensions of married couples transfer to their living spouse upon the death of one of them. This isn’t the case for couples who live together.
  • Laws around capital gains tax mean that you can transfer assets such as property or shares from wife to husband and vice versa. If you are not married, it is treated as a sale with tax implications.
  • The Church hopes that marriages will last for the rest of a couple’s life, but should it fail, leaving a marriage, as opposed to a relationship in which you live together, protects the woman particularly from a financial point of view and legally regarding children. Couples who live together have fewer rights when separating and there are no clear rules about allocation of assets and money.

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