Money saving expert Martin Lewis is urging couples who live together to have financial arrangements in place to help manage their assets after their death if they are not married. Martin, who has been offering useful financial tips to people struggling through the cost of living crisis, said that if people don't want to tie to knot, they should either get a will, civil partnership or some other form of contract to lawfully inherit their partner's assets.
In his latest Money Saving Expert newsletter, the financial guru said that people who are not married or in a civil partnership have no status under inheritance law. This means that a partner may be at risk of losing an asset they assumed they would naturally inherit if a loved-one was to pass away.
Having no inheritance status means that if one partner dies, the other may not get the house - even if they've lived in it for several years. Martin highlighted the importance of wills and encouraged readers to have the "unpleasant issues" chat with friends and family, reports The Chronicle.
