You get to get married to your best friend and celebrate with a joyous and fun filled wedding day and that's the best! However, being married to your best friend isn't the only perk that comes with tying the knot! There are a few legal benefits that come along with your new spouse! Today for Wedding Wednesday we will be talking about a few of those benefits!
Health Insurance Benefits
When you are married, you can be on each other's health insurance plans. This comes in handy if one of your employers does not offer health insurance.
As a married couple, you become your spouses next of kin and legally have the ability to make medical decisions if your spouse becomes incapacitated. In the unfortunate event of death, you have the right to make the decision on where they will be buried and how they will be laid to rest.
Social Security Benefits
As a married couple, you may be entitled to receive your spouses Social Security benefits. If you are 62 years old or are caring for a child that is eligible to receive Social Security benefits and you do not have any of your own, then you can receive your spouses benefits if they have any.
Depending on your income, you may be able to save some moolah by filing your taxes jointly! There are some benefits that are offered to married couple filing jointly so be sure to ask your accountant and decided what is best for the two of you.
As a married couple, you can capitalize on the unlimited marital deduction. This falls under the US Federal Estate and Gift Tax Law. Basically it means that you can transfer an unlimited amount of assets to your spouse at any time, including at death, without having to have that amount taxed.