On June 26th, 2015, the US Supreme Court made the landmark decision to legalize same-sex
marriage. Finally, after all couples are able to reap the financial, social, and legal benefits
of matrimony. But beyond being able to refer to your partner as “husband” or “wife”,
what are the actual benefits of getting married?
The US government has long encouraged marriage, partially because it led to higher birth rates,
but also under the belief that it would create a stronger country. Historically, marriage
promotion goes back to Ancient Rome, where penalties were imposed if you remained unmarried
past a certain age.
Today, there are about eleven-hundred federal benefits, rights, and protections given to
married couples. Before the Supreme Court decision, same-sex partners in civil unions
and domestic partnerships were only eligible for a few of those benefits, largely on a
state-by-state basis. For many this was a human rights issue, but it also had a huge
financial effect.
A married couple can file their taxes together, which means that their incomes are added up,
while the total amount necessary to enter a higher tax bracket is raised. For example,
single people are limited to about $90,000 dollars in income before passing the 25% tax
bracket. However, married couples can make up to $150,000 dollars before hitting 28%.
This is beneficial when one partner makes considerably less than the other, as has historically
been the case.
But today, many couples see similar incomes, which can actually lead to a tax penalty.
For example, if both of you earn $90,000 dollars a year, then filing together would actually
push you into the 28% bracket, while filing alone would keep you at 25%.
Being married also allows you to give gifts, money, and property to your partner without
having to pay state taxes, and the same occurs if you die and your partner receives your
estate. If you are unmarried, they will have to pay an estate tax on any property left
to them. Perhaps more importantly, those relying on their partner’s social security will
be unable to continue collecting it after their death, if unmarried. And this also applies
to similar government programs, such as healthcare, disability, and military spousal benefits.
Getting married is also important in case things go wrong. Often, hospital or jail visits
are restricted to immediate family only. And if a medical, legal, or financial decision
needs to be made while a spouse is unconscious or unresponsive, unless prior arrangements
have been made, an unmarried partner cannot make those decisions. At worst, if someone
dies and does not name their partner in the will, their partner will have no control over
their last wishes.
There are a number of other benefits to getting married, including immigration rights, and
interestingly, the right to refuse to testify against your partner in court. An unmarried
couple has no such legal marital confidentiality. Obviously, the government favors marriage,
and encourages it by providing exclusive benefits. Still, if marriage isn’t right for you,
there are a legal loopholes available to gain certain similar rights. But it isn’t as
easy getting married.
Some people still get married for what seems to be a much simpler reason: Love. But love
is not that simple, as this TestTube Plus playlist will show. Click to watch it now.
Thanks so much for watching our channel! If you want to keep watching more TestTube News,
be sure to subscribe. Have a great one!