Many people move in together before they get married and start combining their income and expenses.
Some couples will even buy a home, pets or other items together.
This could all end badly if there is a break up in the relationship.
Ingram discussed a number of things couples in this position can do, such as:
Estate duty/Donations tax planning
- Separate investment/bank accounts
For more detail listen to the interview in the audio below (and/or scroll down for quotes from it).
A lot of people say you have to test drive the car before you buy it.— Warren Ingram, Galileo Capital Financial Advisor
If you’re not married; you’re liable for donations tax if you leave it to the other party.— Warren Ingram, Galileo Capital Financial Advisor
I always counsel against sharing a bank account.— Warren Ingram, Galileo Capital Financial Advisor
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