Many remain single for reasons not because they
are loveless or unlovable -- as many would say. Some just choose to be single
because the economy and employment situation across the world is in dire shape.
But these three reasons prove that marriage -- well-avoided for possible
financial disasters -- still has plenty of fiscal merit.
Tax Breaks
According to Express UK, the UK's Marriage
Allowance allows couples to save up to £220 annually and even support the lower
earner with a £1,100 cap transfer annually -- if the lower earner has an income
of less than £11,000. Tax breaks are pretty useful and £220-£1,100 is not bad
an amount at all.
No IHT
Marriage in the United Kingdom also doubles the
IHT allowance to £650,000 from £325,000 individually according to Express.
Also, couples owning properties valued at about £600,000 do not need to pay
additional IHT at all. If they were single and owned the same property, they
would be paying back £110,000.
Pensions
Marriage also guarantees the partner receives
the pension benefits of the married husband or wife should anything happen to
them. Cohabitation makes pensions an entirely troubling scenario for the
partner who is not legally entitled to claim any benefits under the name of the
husband or wife.
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