Unmarried Couple
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Please note, we have changed the names to ensure our clients' privacy.
Details
Lauren and Steve have dating for some time and things are getting serious - they've just bought a house together thanks to some help with a deposit that was loaned to them by Lauren's parents. We wrote Wills for Lauren's parents a few years ago who recommended that Lauren and Steve get in touch with us to do the same on the basis that unmarried couples do not inherit from each other without valid Wills being in place. They were keen to leave assets to each other and then split between their families on second death with the one proviso that Lauren's family were to receive the outstanding balance on the loan for a deposit back on Lauren's death.
At Pattison James Associates, we specialise in advising unmarried couples such as Lauren & Steve and put in place the appropriate planning gifting all assets to each other and their respective families whilst ensuring that on Lauren's death, her family would receive the outstanding balance on the loaned deposit back. We were also able to refer them to Pattison James Associates Financial Services Ltd who reviewed their life insurance requirements and provided policies that enabled funds to be in place to repay their mortgage and the family loan should either die during the term. These policies were also written into Trust at no additional cost thereby avoiding inheritance tax on any life insurance payout.Book your Will writing appointment online now and allow us to fully advise you on the most appropriate way to achieve your wishes.