This month, a Supreme Court ruling means that civil partnerships will now be available to heterosexual as well as homosexual couples. But it’s not just couples who are after this alternative to marriage; Catherine and Ginda Utley, sisters who live together, have recently made headlines when calling out for civil partnerships to be made available to siblings too.
Why? Civil partnerships, like marriages, receive special inheritance tax treatment. On death, anything passing to your spouse or civil partner will be “spouse exempt” meaning that no inheritance tax is payable.
Whether such a proposal will be entertained remains to be seen but for couples now interested in civil partnerships, consideration should be given to estate planning (to make use of the spouse exemption) and new Wills (as existing Wills are automatically revoked on entering into a civil partnership).
For estate planning or help making a new Will, contact Wansbroughs at firstname.lastname@example.org
, 01380 733300 or www.wansbroughs.com.