Is it worth being married

Crutch757

I have been married over 40 years (to the same person) but wonder if there is any financial advantage to declaring myself as being married. Neither my wife or I are eligible for any state benefits and both pay tax. A relative in Australia has just got divorced after more than 50 years but continues to live together and have a much better pension. Does anyone know the situation in UK? Certainly this Government is doing its best to destroy the institution of marriage.

ceridwen

I wouldnt know the financial ins and outs of married v. living together in your situation.

BUT......I would take it very amiss indeed if I was your wife and you suggested divorcing for financial reasons.....I just wouldnt believe it wasnt a "divorce divorce" and be very upset/angry indeed at the thought. Even if you managed to persuade me that it wasnt a "for real" divorce - I would still be thoroughly upset about the thought.

From the length of time you have been married to each other I would imagine that you are both middle-aged now (ie the age group in which health problems often start) and it is very much the best idea from that point of view to be officially married too - so there is no query about who is your next of kin.

margaretclare

I agree with ceridwen. If being married/staying married is simply a matter of 'how much better off' then perhaps you should think about it a little more. Don't forget that in a divorce following long marriage (anything over 20 years AFAIK) you might lose a lot. The idea of a 50/50 split is a starting-point.

You ask about 'a much better pension' but you don't give any information about what pension provision you both have to start with. Are you retired already, or about to? When you say you're not eligible for any state benefits do you include state retirement pension or do you just think of means-tested benefits like pension credit?

FWIW I am happily married for the second time to a man who knows exactly the heartache, financial loss and trauma of a divorce, having been through it twice. I don't know if we'd be better off (in money terms) married or not married. It's not something we ever contemplate, nor would we.

calleyw

How are you going to be better off. All assets such as company pensions and the house will be split in a divorce.

The benefit people ain't stupid and look at loads of things to see if you are relationship. Just because you have got the piece of paper to say you are divorced. Will not cut ice if you are still living in the same house.

I am sorry but this beggars belief that some one would want to pay to get divorced so they can get an extra few quid in benefits

Yours


Calley

margaretclare

I agree with Calley above.

DH and I weren't very well-off at all 10 years ago when we first got together. Married 6 years, we're doing better because we work together, discuss all financial matters, make decisions jointly and deal with money matters openly and amicably.

I obviously don't know the details of your relative's divorce in Australia, but if it was done purely to 'get a much better pension' then this sounds like fraud to me.

In any case, marriage is about much, much more than the money aspect.

miserly_mum

Margaretclare has taken the words out of my mouth. Your relatives in Aus won't be so well off if they get snared and have to pay it all back.

Even though they are divorced they would still be classed as cohabiting/living together as if married.

Buffy_the_Vampire_Bat

Well I married for love and stay married for love, so for me marriage is worth it. The financial ins and outs of marriage don't come into it for me.

shelovestobuystuff

I think there are additional tax allowances but only for the over 75,s:p

beer_tins

I'm getting married later this year and have not considered the financial side of it. That really is not a good reason to get married (or not) IMO. I do agree with you on the point that the government does nothing to encourage marriage. The number of couples tying the knot has dropped to it's lowest ever level since records began (despite more people) and is still falling. On the positive side, more of those couples are now staying together, which I hope bodes well for me and my wife to be!

Mark85_2

Married couple allowances are available if one of the spouses were born before April 1935 and it acts as a tax reducer, 10% if I remember correctly.

Lita_Ford

I saw the other day that marriedpeople on average live longer than single people so it might be a financial minus if you have to pay for all those extra years.