Joint mortgage & Not married.

[Hyland]

Joint mortgage but we are Not married.

Don't remember the terminology but it was set up so that if one of us dies it would automatically transfer over to the other.

However i am wondering, does this mean that the surviving partner would be left with a tax bill?

the cases that you refer to are very complicated and each case spin on the very peculiar facts. In one case, the court case was dragged out by a charity, in whose much broader interest it was to make a point. It was a very unusual incidence. The farm one was also quite specific.

Unless other family members are on an allowance from your partner or depend on him for some other financial benefit, there is no claim at all. It's expensive to make one and therefore only worthwhile if there is a lot of money at stake, which since you get the house and the insurance may not be relevant. It is defintely worth writing wills. They are not routinely torn up and disregarded.

Yes joint ownership of property.

Where it just remains the sole property of surviving partner as opposed to inheriting it.

I just wasn't sure that because we aren't married, whether they would still see half of property as being taxable under such circumstances.

Very confusing coz it sounds like one of the same thing but clearly isn't

Thanks springbreak

Similar situation in being joint tenants and whilst.the house would be mine or partner's, the means of paying off the mortgage wasn't IHT free - well the death in service was but the death benefit policy wasn't so we had to sort that as part of the financial planning.

Svalberg

The means of paying off the mortgage you say wasn't IHT free

Are you referring to life insurance and you being taxed on that? because of not being married.

Death in service is this job related?

Death benefit policy wasn't you said so what did you have to do, to sort it?

Default is usually Joint Tenants (where the spouse inherits whole property on death of other) - you can check this easily though with Land Registry.

Definitely write a will....

We had to set up a trust for the life assurance, - the death in service money would be tax free to the nominated beneficiary. We review it regularly as we're overpaying the mortgage.

Yes, sorry, the death in service is a sum (4 times salary) that pays out to OHs nominated person(s) in the event of death whilst still employed. If nobody was nominated, it would go into the estate and be taxed. If someone is nominated, it's not part of the estate & doesn't attract tax.

And the death in service is part of OHs remuneration package. As I'm self-employed, I don't get it automatically so the financial advisor & accountant had to set something up so that the house didn't have to be sold if I died. OH would own the whole house, but also the whole remaining mortgage & things would be tight on 1 income.

Okay - I would still advise getting married (a very quick and cheap registry office do) because there are lots of legal aspects that are easier if you do that: clarifies who is "next of kin" for hospitals, helps with inheritance, and even means the survivor of you can arrange the funeral not be over-ruled by the others family.
I would also advise writing wills. They will distribute the personal estate as you each wish, but also should have provision for what would happen to your daughter if you both died at the same time (eg a car crash).

That would just feel awkward - hey lets get married because it just makes everything less complicated!

Been together 8 years now and i think he has quite a negative view on marriage.

So i would feel like i was tricking him into it. If he wants to marry, I want it to be because he's asked and the other stuff is just a bonus.

Good friends of mine got married because he was going on a long sailing trip - and he decided it was the sensible thing to do (otherwise his mother might have got the house).
Get legal advice and talk to a lawyer about drawing up wills and other ways to protect yourselves - that might just persuade him. It's not tricking, it's protecting his child and the mother of his child.
Would he want you to be barred from having any input to his funeral? Or even being not allowed to even attend. And this does happen.

Totally hearing you all regarding organising a funeral or being able to attend.

Next of kin for medic emergencies/operation and so on.

Just saddens me to marry for these reasons rather than love.

Like I'm cheating myself.

From being proposed to and having the man I love, want to marry me.

Doesn't he love you? That would mean you have bigger issues.

I think you still have the Disney Princess view of marriage. But with a child...
And if he doesn't see marriage as Romantic in the same way, then you need to at least protect yourselves and your child. In whatever legal ways work best for you.

Ha ha he loves me, wouldnt be here otherwise.

I was married before, so if we were to marry, I didnt want to do the asking.

Nothing to do with fairytale princess'

I really think you both need to talk about this and see what you each really feel and want. And take some steps to protect yourselves and your DD.
It could be he: doesn't think you want to get married again
or doesn't think it's important (having never thought of the consequences of dying intestate)
or has a strong objection to marriage - in which case get some other legal protections in place
or...
You have taken some steps in the way you bought the house, and in having a child together. But you do need to get some more in place for the sake of your child.