Some couples aren’t aware of how they can effectively double their inheritance tax threshold and what they need to do.

In 2007 the chancellor effectively doubled the inheritance tax threshold for married couples and civil partners. I say he ‘effectively’ doubled it because it wasn’t a straightforward raising of the level at which married couples have to pay inheritance tax, instead what he announced was that married couples and civil partners would be able to transfer their inheritance allowance when they died so they could shelter up to twice the inheritance tax allowance (currently £325,000). But many people are confused about how this works.

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Around a third of those who die don’t have a will and the Law Commission’s proposals would mean that if you die, your partner could inherit property you leave.

Have you got round to writing your will yet? If not, you’re not alone. Millions of us don’t bother with a will, either because we don’t think we need one or because it all feels a bit too depressing to think about. The problem is that many of those who haven’t drawn up a will think they’ll be better protected by the law than they actually are; particularly couples who live together. At the moment, you’re not automatically entitled to anything if your partner dies without a will. Now the Law Commission is planning to change that. But are the proposals workable?

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You need life insurance if you have joint debts with your husband or partner or children who are financially dependent on you

If you don't have any debts with your partner and don't have children (or they're grown up and don't depend on you financially), you can save money by not buying life insurance. But if you do have a joint mortgage or other debts, you probably do need some life insurance. There are different types of life insurance and some types of policy are more expensive than others.

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