• News
  • Life
  • TV & Film
  • Beauty
  • Style
  • Home
  • News
    • Celebrity
    • Entertainment
    • Politics
    • Royal Family
  • Life
    • Animals
    • Food & Drink
    • Women's Health
    • Mental Health
    • Sex & Relationships
    • Travel
    • Real Life
  • TV & Film
    • True Crime
    • Documentaries
    • Netflix
    • BBC
    • ITV
    • Tyla Recommends
  • Beauty
    • Hair
    • Make-up
    • Skincare
  • Style
    • Home
    • Fashion
    • Shopping
  • Advertise
  • Terms
  • Privacy & Cookies
  • LADbible Group
  • LADbible
  • UNILAD
  • SPORTbible
  • GAMINGbible
  • UNILAD Tech
  • FOODbible
  • License Our Content
  • About Us & Contact
  • Jobs
  • Latest
  • Topics A-Z
  • Authors
Facebook
Instagram
X
Threads
TikTok
Submit Your Content
Martin Lewis issued warning to couples living together in the UK

Home> Life> Money

Updated 13:38 30 Aug 2023 GMT+1Published 13:31 30 Aug 2023 GMT+1

Martin Lewis issued warning to couples living together in the UK

The Money Saving Expert gave advice to those who live with their partner but aren't married to them

Jess Battison

Jess Battison

Martin Lewis gave a firm warning to couples who live together in the UK.

The Money Saving Expert said there’s a few financial complications if you live with your partner, but you’re not legally bound together.

Yes, in case you can’t see where this one’s going, the money man encourages marriage as a remedy.

Marriage may seem like the most natural progression if you’ve dated and lived together for several years but the concept is also viewed by some as outdated and unnecessary.

However, Lewis previously urged co-habiting couples who haven't yet tied the knot to reconsider for the sake of making future legal issues easier to deal with.

Advert

In a previous Money Saving Expert newsletter, Lewis drew attention to the complications which can arise if partners who live together aren't married.

While the idea of marriage may seem a bit old fashioned, Lewis explained it can be handy to at least enter a civil partnership or write a clear will or contract so your partner can have easier - and lawful - access to all your assets should you pass away.

Inheritance law not only comes with a whopping great big tax on anything the deceased owns, but also means a partner has no status unless they are in a civil partnership or married to their significant other.

Martin Lewis.
David M. Benett/Dave Benett/Getty Images

Advert

This means if your partner did pass away, you may end up with nothing. For example, even if you'd both shared a flat for years, it's not rightfully yours and you have no status to claim it unless legally tied to them.

The conversation isn't exactly the easiest one to have and after a long day at work when you probably want nothing more than to sit in front of the telly and catch up with the latest Gogglebox.

However, Lewis stressed just how necessary it is to deal with such 'unpleasant issues' and to be as 'blunt' and 'candid' as possible.

If you get the chat out of the way and come to some sort of solution - whether it be a will, marriage or civil partnership - it means your significant other (or child or whoever you want to leave your belongings, money or property to) will have legal access to your 'estate'.

Advert

On the slightly less morbid - but still depressing - note, Lewis also advised partners to draw up a 'cohabitation agreement' which can make financial matters easier if you and your partner go your separate ways while still both alive.

Lewis gave the advice to couples who live together but aren't married.
RDNE Stock project/Pexels

The Money Saving Expert stated: "If you live with your partner, but are neither married nor in a civil partnership, you may want to consider drawing up a 'cohabitation agreement' in addition to writing a will.

"While a will determines what happens to your assets and belongings once you die, a cohabitation agreement spells out what happens if your relationship breaks down – so a bit like a will for the living."

Advert

Such an agreement can also protect from financial abuse and is 'strongest if both partners have had independent legal advice and haven't signed under duress'.

Appointing a Power of Attorney is also important in case you end up being diagnosed with an illness such as dementia or you suffer from a stroke and subsequently don't have the mental capacity to make decisions yourself.

So you may as well take the bull by the horns, get the conversation over with and get back to Gogglebox in no time.

Featured Image Credit: David M. Benett/Dave Benett/Getty Images/Pexels

Topics: Martin Lewis, Money, Life, Sex and Relationships

Jess Battison
Jess Battison

Jess is an Entertainment Journalist with a love of all things pop culture. Her main interests include keeping up with the Twitter girlies, waiting for a new series of The Traitors and losing her voice at a Beyoncé concert. She graduated with a first in Journalism from City, University of London in 2021 and has previously worked at MyLondon.

X

@jessbattison_

Advert

Advert

Advert

Choose your content:

7 hours ago
11 hours ago
12 hours ago
13 hours ago
  • Instagram/@khloekardashian
    7 hours ago

    Doctor breaks down what happens when you stop having sex for 3 years following Khloé Kardashian’s NSFW admission

    Dr Tracy King, a chartered clinical psychologist, has told Tyla exactly what happens year by year when you stay away from doing the deed

    Life
  • Getty Stock Images
    11 hours ago

    New study reveals debilitating condition has tripled in a decade among Gen Z

    The number of 16–24-year-olds reporting symptoms has more than tripled in the past decade

    Life
  • Getty Stock Images
    12 hours ago

    Doctor reveals 6 ‘hidden signs’ of ADHD that appear in adults

    Dr Ali Ajaz, a consultant psychiatrist, has taken to TikTok to outline the handful of symptoms associated with the condition

    Life
  • Disney+
    13 hours ago

    Biohacker Bryan Johnson reveals simple technique he's using to 'sperm wash'

    The American is attempting to find ways for humans to live longer, healthier lives

    Life
  • Martin Lewis issues warning to families using air fryers instead of ovens
  • Martin Lewis tells holidaymakers not to shop at Zara in the UK
  • Martin Lewis urges anyone who is earning less than £60,000 to do 10-minute check
  • Martin Lewis 1p challenge can see you save £600 before next Christmas