Martin Lewis issues urgent warning to couples who live together but aren’t married
Attention couples who are living together but aren't married, it's time for some relationship advice from Martin Lewis.
Well, more of a warning really, and he's still sticking to the money part of things which he knows about.
In this economy if you've got that special someone it makes sense to be living with them so you've got two incomes on one household.
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However, just living with the love of your life isn't enough according to the Money Saving Expert, as on Tuesday's (21 November) edition of The Martin Lewis Money Show Live as he explained unmarried couples were missing out.
However, his warning to couples living together without being married ended up being more than a little bit morbid, though no less important.
Speaking on his show he talked about what might happen to couples should the worst happen to one of them, and the lack of legal protection without marriage.
Lewis explained that without being married the situation over inheritance should one of you die would be entirely in the hands of the government.
He said: "If you’ve got assets, do a will, that way you decide where the money goes.
"A special point to anyone who is co-habiting, you’re not married, you’re not a civil partner.
"If you have been living together for 30 years and you’ve got nine children, it still means nothing in the law when it comes to a will. Your partner wouldn’t get anything."
The Money Saving Expert also urged those who were married to make sure they knew what their will said, particularly if they were separated from their spouse and with a new partner.
He warned that if you were married to one person but separated from them and in a relationship with someone else then an old will leaving it all to your spouse would leave your new beau high and dry.
Lewis said that everywhere in the UK besides Scotland revoked your will when you got married and some people might not know that.
Dying without a will could also cause some issues, as the Money Saving Expert gave the example of someone passing away in England without writing out what they wanted to give to their nearest and dearest.
Lewis said someone popping their clogs in England would end up with the first £320,000 going to their spouse and anything else would be split between the spouse and the kids which might not have been what they wanted.
Basically, go and get a will, or if you have one already it never hurts to check that it's up to date and says what you want it to.
Because you never know what might happen.
Topics: Martin Lewis, Money, UK News
Joe Harker