Martin Lewis has issued a warning to unmarried couples living together across the UK as he urged couples to take action in an “unpleasant” chat.
The Money Saving Expert founder and cash-saving guru urged couples to have arrangements in place to help manage their finances when they die as he warned couples should protect themselves from the “3Ds: death, divorce and dementia”.
If couples don’t wish to tie the knot, Mr Lewis told couples to get a will or a civil partnership or some other contract to lawfully allow bereaved partners to inherit their partner’s assets.
The warning came in Martin Lewis’ latest MSE newsletter as he informed those who are not married or in a civil partnership have no status under inheritance law meaning people could lose out on their home and other assets they were expecting to inherit.
He said: “The financial and emotional cost to loved ones of ignoring this can be dire.
“So whether with parents or children, I’d encourage you to have the ‘unpleasant issues’ chat.”
More information and advice from Martin Lewis can be found on the Martin Lewis website.