Love is blind?

Or maybe its sight isn’t as good as it was, it is slightly deaf or has forgotten where it put its car keys.

Love is certainly blind when it comes to age and I see lots of clients who are getting together in their 50s, 60s, 70s and beyond. But don’t be rash. It is important to balance the interests of all concerned as well as maximising the benefits and allowances available.

Here are some examples-
Talk openly with each other and your families. Do not ignore it. Whatever your children might say, they will be worried that things might turn out badly and that can put unnecessary stress on a relationship. If dad dies and everything goes to his new Wife, dad’s children will be justifiably peeved.
Over the brush or under the cosh? Should you marry or cohabit? It can make a huge difference for pension rights from private and state pensions. Some recognise cohabitation but many don’t and you might be throwing away a useful income for the survivor by refusing to tie the knot. Inheritance Tax allowances are easier and might be higher for one or the other if you are married.

Consider a cohabitation, pre-nuptial or post-nuptial agreement - living together and getting married can lead to unplanned financial consequences so work out your intentions now and get them down in writing.

Make a Will to provide a fair and flexible balance. For example, give your new partner the right to live in your house but protect its value for your family after their day or if they need care. Leave a fund to provide an income for their needs but keep the capital for your children.

Think about Trusts. These can be in your Will or you can use lifetime Trusts to wrap your assets up during your lifetime and if you are in good health, they can also help if you need long term care.

Look at property ownership- Joint assets pass to the survivor if you don’t declare a tenancy in common. But don’t think Tenancy in Common is all you need, you still need to make sure your Will is up to date. If you are married, your half share in your house is likely to pass to your spouse if you have not made a Will, however you hold the title.
Look at Pensions and life insurance- make sure you have nominated your partner as a potential dependant for your pension and look at life policies to make sure they go where you want them, in the most tax efficient way possible.

There is a lot to think about but get it out in the open and get it right and everyone will live happily ever after. For good advice, contact the team for your free appointment. 

You’re in safe hands

Trust our team of local experts to provide the best advice on a wide range of legal and financial issues whenever you’re facing a life change and need the best support.

0800 389 2939

Our team are available Monday to Friday 9am - 5pm

Find Your BranchMEET THE TEAM

She'll be glad you planned ahead

Organising your finances today, while planning for the future can be a challenge. We’ll put the kettle on – and take the pressure off.


You'll know when it's time to talk

From making a will, to matters of business law our qualified solicitors can offer advice and guidance. Pop in for a chat or call us to make your free appointment.


Sign up for our newsletter

Your details

Signing up to our newsletter will place you on our weekly property guide, providing you with the latest properties for sale and industry news.
You can unsubscribe at any time. We value your privacy and will not share your details.

© Poole Townsend 2017 - 2022. All rights reserved.
Poole Townsend solicitors Ltd (Company no:10964550) is a company registered in England and Wales with its registered office at 69-75 Duke Street, Barrow in Furness, LA14 1RP. A list of directors is available at the registered office address. Authorised and regulated by the Solicitors Regulation Authority number 647087. We are independent financial advisers authorised and regulated by the Financial Conduct Authority. VAT registration number :154365563.

Poole Townsend Estates Ltd. (Company No: 10960705) is a company registered in England and Wales with its registered office at 69-75 Duke Street, Barrow in Furness LA14 1RP. A list of directors is available at the registered office address. Regulated by the Council of Licensed Conveyancers to provide Conveyancing services. (Firm no: 3438) VAT registration number 288092466. Our Estate Agency is a member of the Property Ombudsman scheme.

Poole Townsend Estates Ltd Property Client account has client money protection, to view our Client Money Protection Certificate please click here. To view our Equality and Diversity Data please click here. The Propertymark Conduct and Membership Rules can be found here.

Professional Indemnity Insurance – please contact Martin Oates at the address above if you require details of cover held.

Registered with the Information Commissioners Office for data protection purposes (ICO No: ZA494153 & ZA331395)


Book Your Free Valuation

Fill out the form below and we'll get in touch to arrange your free valuation.

Your Details

We value your privacy and will not share your details.