Is it worth being married

margaretclare

Mark85 wrote: »

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.

We actually get this, since our marriage in 2002, because DH was born at the end of December 1934. We split the allowance between us to set against our individual incomes, pensions earned in previous employments before we ever knew each other. However, it's hardly an incentive to marry if you're not committed to marry for other reasons! I agree with Buffy the Vampire Bat. DH and I got married because we were in love - still are, in spite of our advanced age. It never occurred to us to consider if we might be better off not being married. It wasn't about that, not at all.

January20

Silly me thought people got married for love not for financial advantages...

margaretclare

January20 wrote: »

Silly me thought people got married for love not for financial advantages...

Well, the OP has not said why he got married in the first place, but must have seen something in it since he's stayed married to the same person for 40 years.

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.

That's the situation with a large number of people, the majority I would have thought.

A relative in Australia has just got divorced after more than 50 years but continues to live together and have a much better pension.

I don't know how this would work.

Does anyone know the situation in UK?

It doesn't sound as if many people do, going by the responses so far. Perhaps if you could tell us how it works in your relative's case, we might have a better idea. I myself have never heard of this being done - divorce usually works to the detriment of both parties, with all assets having to be put on the table and then split. I can't see how it would work to anyone's advantage. And why would you want to live together if divorced?

shelovestobuystuff

Is it worth being married?
Depends who it is too.

ceridwen

Feels to me like Crutch has had a "mad moment" and isnt "coming back here again". Oh well - I reckon he has read our "deliberations" on this.

halia

margaretclare wrote: »

It doesn't sound as if many people do, going by the responses so far. Perhaps if you could tell us how it works in your relative's case, we might have a better idea. I myself have never heard of this being done - divorce usually works to the detriment of both parties, with all assets having to be put on the table and then split. I can't see how it would work to anyone's advantage. And why would you want to live together if divorced?

We'd be better off if we were divorced and living in two seperate households, but then we're in a very different position to the OP.

January20

halia wrote: »

We'd be better off if we were divorced and living in two seperate households, but then we're in a very different position to the OP.

Financially, perhaps but what about emotionnally?

dawna_2

As a matrimonial lawyer, if I had a pound for every time I got asked this......

The short answer is usually you are better off in financial terms to be married.

Sometimes if you have two properties, there are occasions where it is better off if you both own a property each.

Sometimes you are better off on these occasions when you separate.

Mostly however, you are better off married. That is why the civil partnership rules were introduced, in order to give same sex couples the same benefits.

margaretclare wrote: »

this sounds like fraud to me.

No it is not.

You are only committing fraud if you say you are not married when you are, or you say you are not cohabiting when you are (the benefits people sometimes ask)

Benefit fraud is when you lie for example saying you are sick when you are not to claim sickness benefits or say you cannot look after yourself so that you can claim attendance allowance, or hide sums of money to avoid care home fees. They are all examples of benefit fraud( not exhaustive examples)

Debt_Free_Dreamer

On a personal note, money does not come into it. I am married because I want to be committed to my partner (not saying people who are not married are not committed, before everyone gets annoyed). It is just for me, marriage is a bigger deal than a 'piece of paper'

On a more legalistic note, I found this article on the web on the BBC web site.

Getting married can be a costly business but it could bring financial benefits. A money expert examines the advantages and disadvantages of tying the knot.

http://news.bbc.co.uk/2/hi/uk_news/4308313.stm


When a couple marry, they commit to sharing their life: "for better, for worse, for richer for poorer", and in two out of three cases until divorce they do part.

Many do not stop to consider whether they are better off financially when they are married.

Oldernotwiser

January20 wrote: »

Silly me thought people got married for love not for financial advantages...

But many couples stay unmarried for financial advantage; isn't that the same thing? The government used to encourage marriage by offering tax advantages, now the opposite is true.