The number of short notice marriage applications, often referred to as ‘deathbed marriages’, jumped 14% in 5 years, rising from 1,420 to 1,612 in just five years, according to analysis by TWM Solicitors, a leading private wealth and family law firm.
TWM explains that the short-notice marriages are taking place to ensure that the couple can maximise tax benefits available, therefore minimising any inheritance tax (IHT) that might otherwise have been owed.
If the couple remains unmarried, then the surviving partner could face a 40% IHT bill on the assets that they inherit from their partner. This IHT bill could lead to a major drop in their standard of living. Marriage – or civil partnership – avoids this by allowing assets to pass IHT-free.
Normally, couples must wait 28 days after giving notice to marry. Short-notice marriages allow couples to marry immediately, often where one partner is seriously ill.
In the last year alone, short-notice marriage applications have risen from 1,567 to 1,612. Without being in a marriage or civil partnership, cohabiting partners risk losing IHT exemptions, pension rights, and other financial benefits, potentially leaving them with a 40% IHT bill on inherited assets.
Short-notice marriages allow couples access to tax benefits, including:
- IHT exemptions for spouses
- Additional Permitted Subscriptions to one’s own ISA allowance based on the value of a spouse’s ISA(s)
- Exemptions from capital gains tax (CGT) on gifts
- Tax rebates on pension contributions
- Transferable allowances from a spouse (even if the couple’s combined assets fall within the IHT nil-rate band, increases in wealth before the second death can make it valuable to have secured transferrable allowances).
David Lunn, Managing Associate at TWM Solicitors, says: “Marriage and civil partnership unlock powerful tax benefits that are simply not available to cohabiting couples. When serious illness strikes unexpectedly, many couples feel forced into a last-minute wedding to protect their partner financially. That urgency often means there is no time to update Wills, pensions or other estate planning, which can leave families exposed.”
David Lunn adds: “People should be aware of the significant tax benefits that marriage or civil partnership brings. It is also vital to keep Wills, pension nominations and other arrangements regularly updated so families can be confident that their wishes will be carried out and tax reliefs secured.”
