There are a number of important documents and a few rules that you need to be aware of:
- Cohabitation Agreement – An agreement between unmarried couples which sets out the future relationship, including financial matters such as who owns what and in what proportions
- Pre/Post Nuptial Agreement – Agreements between married partners that sets out what each party brings into the marriage from a financial point of view.
- Declaration of Trust – Also known as a Deed of Trust, it is a legally binding document that recognises the financial arrangements between property owners and other parties that may have an interest.
- PETs – These are gifts that are potentially exempt from tax provided that the person making the gift does not die within a specified period of time (seven years) so as to prevent the gifts from being a means of avoiding Inheritance Tax.
- Loan Agreement – As you might expect this is an agreement that sets out the terms of a loan.
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