Financial wellbeing for couples entering marriage later in life: how to deal with your assets

Rebecca Christie Assistant Solicitor at Hunters Solicitors

Kate McGahey ACSI Senior Private Banking Executive at Weatherbys Bank

Now that 2018 has arrived wedding season will be upon us before we know it and it is no longer just a young couples’ game.

Recent data from the Office of National Statistics shows that the number of older women marrying or remarrying has increased in recent years. The data highlighted that the marriage rate for women over the age of 65 has increased by 56%. This perhaps suggests that for some marriage is as much about financial wellbeing as it is about love. Married couples for example have guaranteed inheritance rights in the event that one partner dies without a will and/ or gain a double inheritance tax threshold of £650 000.

Perhaps the biggest financial consideration facing men and women who decide to marry in later life (as well as younger couples who stand to inherit assets from previous generations) is the extent to which their existing assets may become part of the new marriage’s matrimonial assets if...

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