What Are the Financial Benefits of Getting Married?
On this personal finance edition of Merryn Talks Money, we discuss why tying the knot in the UK can make sense for your bottom line.
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In this week’s personal finance edition of Merryn Talks Money, hosts Merryn Somerset Webb and John Stepek answer the question: what are the financial benefits of getting married in the UK?
It’s all about tax efficiency, says Stepek. That includes the marriage tax allowance perk, and that unused inheritance tax allowances can be transferred. They also discuss the advantage of inheriting a defined-benefit pension and your spouse’s Individual Savings Account allowance, and that marriage boosts capital gains allowance.
The other major benefit: peace of mind for a partner should someone die unexpectedly without a will.