What was much more common years ago was where the man controlled the money and so often all of the assets were in the man’s name where he would suffer in particular Income Tax and Capital Gains Tax. We still see today a minority of married couples who still operate in this way and it is such a waste of money.
There are so many legitimate tax breaks that are permitted by using both spouses tax allowances and tax planning tools to save Income Tax and Capital Gains Tax.
I could tell you so many stories where so much money is simply thrown away.
Trevor Downing FPMI FPFS
