Calculis: “No such thing as common law marriage”

Calculis, the independent financial advisory, has said today that the idea of a common law marriage is a myth as it is not legally recognised, as many people believe.

Director of Calculis Alex Pegley said that many people who live together think they have the same rights as a married couple but don’t realise they could be subject to things such as inheritance tax.

According to Advicenow, most people think that they become law husband and wife with the same rights as a married couple after they have been living together for a few years.

However, in reality such couples have hardly any rights compared with married or civil partners but they often only find out this is the case when they separate or when one partner dies.

To avoid being stung by inheritance tax, Mr Pegly advises couple to talk to a financial advisor, saying: “It doesn’t have to mean giving assets away; have a chat see what you can do without losing access to your capital.”

Tags: husband and wife, law, Relationships, alex, law husband, director, Mr Pegly, Marriage