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Marriage used to be merely an economic exchange. A bride was “given away” by her family along with some sort of dowry. Or a groom's family. Marriage is in the news again. With the Supreme Court deciding who is worthy of being married, it seems worth taking a moment to think about. Wondering whether you're better off financially single or married? Both circumstances have pros & cons - see these tips to make the most of your situation.

Tax perks of marriage include the marriage allowance, plus advantages relating to capital gains tax CGT and inheritance tax IHT. Nimesh Shah, a partner at Blick Rothenberg, says: However, the take-up has been low, the allowance is worth very little in real terms and it has been costly to administer for Pros of being married.

He adds: Similarly, a married couple can only have one main residence for capital gains tax purposes. Ian Dyall, head of estate planning at Tilney explains: This option is not available to unmarried couples, as movement of assets between co-habiting couples is a disposal for capital gains purposes and would negate the pros of being married of.

Therefore if martied partner is left a house that far exceeds this value, for example, they could end up having to sell it.

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Mr Dyall says: There are other inheritance tax advantages of marriage. For example, if you give money or assets to someone during your lifetime it pros of being married be classed as a potentially exempt transfer and, should your death occur within seven years from the date of the gift, your beneficiary may be liable to inheritance tax.

However, a gift to your spouse or civil partner is not a potentially exempt transfer and would be ignored for inheritance tax purposes altogether. The financial pros and cons of marriage.

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Moira O'Neill. What to read. Dementia sufferers more likely to fall victim to financial abuse.

Scams round-up: May was a huge month for personal fraud and scams in the UK. Unfortunately, it was not…. My father is planing to remarry and i would like to have a better understanding of how this could impact of my mothers inheritance.

Pros of being married

It is my understanding that they had a tenancy in common pgos when my mother passed she wanted her half to come to her 3 children. My father has remained in the property and is now planing to sell.

He has said that he has thought about using my mothers half to purchase another property where he and his new wife will live and on his death it will come to us. How long pros of being married she remain in the property on his death?

Not to say that the only way to be a moral person is to get married, but living a married life involves a lot of challenges. When people get. Marriage is a lifetime commitment that many people enter into with a specific set of hopes, expectations and dreams. Although lots of people are happy with their. Marriage used to be merely an economic exchange. A bride was “given away” by her family along with some sort of dowry. Or a groom's family.

She does not plan to sell her property which i believe her son will remain living in? How does getting married benefit them as i feel there is some manipulation keralite girls her side? Does marriage mean that either spouse then takes on any financial problems which may be unknown beforehand? Another potential con pros of being married a marriage - is the reduced Occupational pension you receive if you happen to get divorced!

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For the less than 10 yr. Hello Amanda, Firstly I would like to state I am no expert. However, as far pros of being married I am aware your father would need to protect you legally by putting in a prenuptial agreement that the money he has used that was your mothers would be given to you upon his death.

If he does not do this his new wife would inherit. She may be more happy to do this than you would think as if she dies first your father would inherit the property and her son would be entitled to pros of being married. You can always call your local citizens advice for free reliable information.

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Hope you get it sorted Amelia. Your.