Polychemy Blog

Legal Benefits of Marriage

Seriously, did you know that getting married means you could have a leg up in receiving benefits, rights and privileges under Social Security and estate laws, government benefits and eligibility for joint health insurance policies and family discounts from employers? Simply put, the perks of marriage are many and can simplify plenty of legal issues, which is why we consulted experts to further discuss 13 benefits of marriage.

Tax Benefits of Marriage Marital Tax Deduction Unlimited marital tax deduction is the biggest tax benefit a married couple can receive, Blank Rome LLP matrimonial lawyer and partner Dylan S. Mitchell says.

"If one spouse stays at home and the other has a high-paying job-or just a job-it benefits to file jointly." If you file taxes separately, you could potentially miss out on those benefits, such as getting to deduct two exemption amounts from your income and qualifying for various tax credits.

Financial Benefits of Marriage Social Security Benefits If either you or your spouse don't qualify for your own Social Security benefits, you can receive the other spouse's benefits.

"If one person spends a substantial amount of time on career and [the] other spends it on raising children, we will compensate the non-monied spouse in a prenuptial agreement by dividing assets fairly between the spouses should the marriage end." IRA Benefits An Individual Retirement Account can be used a few ways in the course of a marriage, including rolling over a deceased spouse's IRA to your own, or you can contribute to a spousal IRA, which is an account that lets an employed spouse contribute to an unemployed spouse's retirement account.

Legal Benefits of Marriage Legal Decision-Making Benefits If you're married, you can have the status as next-of-kin for hospital visits, which grants you the ability to make medical decisions in the event your spouse becomes sick or disabled.

The Emotional Benefits of Marriage While watching bridal TV shows or arriving home to stacks of RSVPs from friends and family is fun, there are many emotional benefits to being married.
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