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Inheritance Tax Made Simple by Andrew Komarnyckyj

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2.12 Will arrangements for couples living as partners

This section addresses the very specific needs of those couples who are living as partners but are unmarried and not in a civil partnership.

If one partner dies, leaving his entire estate to the surviving partner, the estates of both partners will be bundled together on the second death, but will have only one nil-rate band available to offset against IHT. (The first nil-rate band will have been used up on the first death, as nil-rate bands can only be transferred between spouses and CP.) The result could be an unnecessarily high charge to IHT on the second death.

Example 1

Ted and Joyce are an unmarried couple who own money, property and assets amounting to £350,000 each. Ted dies ...

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