A Valentine's Day proposal could lead to a money boon for you in many ways!
Family law isn’t all doom and gloom, we also enjoy helping you plan for life’s wonderful events like getting married! Finances are one of the most important topics and stressors during marriage, which is why prenuptial agreements have become been growing in popularity with the rise of dual income households.
Ten (Financial) Perks to Getting Married!
1. Being on your spouse’s health insurance! (Healthy was listed first by Benjamin Franklin in his timeless wisdom for being healthy, wealthy and wise)
2. Filing jointly on taxes! (PSA: Talk to your accountant before getting married 😉)
3. Multi-car auto insurance discounts 🚗🚗 (On average, married couples spend 6% less per year on car insurance)
4. Additional Social security (you can claim up to 50% of your spouses benefit if your marriage lasts at least ten years - they still get 100% of their own too! 😮)
5. Unlimited marital tax deduction (You can transfer an unlimited amount of assets to your spouse at any time, free from tax. That also includes leaving assets in your estate to your spouse without estate or gift tax subjection.)
6. Exclude up to $500,000 of gains realized on your residence from taxation if you’ve lived in the property for at least two of the last five years (might be necessary in this housing market!!)
7. Two people living together and sharing all their expenses can live more cheaply than two people maintaining separate households.
8. Your spouse’s employer may offer benefits to you, such as dental or vision insurance.
9. Employment Protections under the California Family Rights Act and Family and Medical Leave Act
10. 1,138 federal statutory provisions classified in the United States Code in which marital status is a factor in determining or receiving benefits, rights, and privileges!!
This article is a service of Baron Family Law, Personal Family Lawyer®. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That's why we offer a Life and Legacy Planning Session™, during which you will get more financially organized than you’ve ever been before, and make all the best choices for the people you love. You can begin by calling our office today to schedule a Life and Legacy Planning Session and mention this article to find out how to get this $750 session at no charge.
All of our Life and Legacy Planning Sessions are happening virtually these days, and we can make the whole process quite easy and affordable for you and the people you love. You can begin by calling our office at (916) 905-0024 or scheduling online to book a planning session and mention that you received this e-mail to get this $750 session at no charge.
