Any tax people here?
What are the financial benefits and problems with marriage vs. cohabitation over the span of 50 years or so?
“What are the financial benefits and problems with marriage vs. cohabitation over the span of 50 years or so?”
Upshot: if you’re in a very traditional marriage where the husband works and the wife stays home and takes care of the kids, marriage may work out to your benefit tax wise. If both husband and wife work and earn similar amounts, i.e. the norm, it’s a complete screwover. Your taxes are higher than if you had remained single. Plus if you have to dissolve the marriage, you’re gonna be in a whole new world of economic hurt. Especially if you were the husband.
Living with another person and sharing the bills is where you save the money in a marriage, not on the taxes. Essentially all of the property benefits of marriage can be attained through how you carefully structure wills and contracts, and how you structure property ownership.
That’s why I’m a strong proponent of religious marriage and skipping caesar’s license. Why buy into this godless farce when there’s a better alternative?