Overcome unwanted fear: Advantages of getting married

Marriage may scare the living daylights out of most men and some women, but the fact remains that marriage has a lot of hardcore benefits over cohabitations, bachelorhood and causal relationships. From financial and legal benefits to social and emotional comfort, a marriage can prove beneficial on many accounts. Here are some of the top reasons that you should consider about the benefits of being married before you swear off the institution for good.

You get alimony if you’re married

Unlike cohabitation, a spouse is entitled to financial recompense in the form of alimony or a divorce settlement in case a marriage breaks down. For unmarried couples living together, there are no such legal or financial obligations.

Combined ownership of assets

From the moment you are pronounced man and wife, you get joint ownership of all the assets owned by your spouse unless a prenuptial agreement specifies otherwise. Unmarried couples cannot claim ownership of their partner’s assets without a legal document supporting their case.

Support of a spouse

When you lose a job or suffer from a major illness, your spouse has a legal duty to support you. Unmarried couples cannot enjoy this benefit as a legal right.

Rights to property and inheritance

A legal marriage gives you right over your spouse’s property and home. When they die, you automatically get ownership of all their assets unless their will specifies otherwise. A couple simply living in cannot claim such benefits as their property and assets go to their legal heirs and next of kin. If you have spent a lot of time building up joints assets in cohabitation, in case your partner dies, you will have no claim over them. when transferring assets between partners, you have to pay no capital gains tax and when a partner leaves everything to the other partner, no inheritance tax is payable when one partner dies. Also, the right to live in the matrimonial home is reserved exclusively for a spouse if a partner dies and he or she cannot be displaced without it being specified in the deceased partner’s will.

Insurance benefits

Life insurance and other insurance benefits are bestowed upon a legal spouse in case a partner dies. Men can extend their health insurance benefits to their wives and children and getting joint insurance is also easier for married couples.

Employer benefits

In case of bereavement, illness or pregnancy, it is much more complicated for unmarried couples to get sick or bereavement leave or maternity leaves as compared to married couples.

Child custody and adoption

If you’re unmarried, there are no joint parental rights which make it much more difficult for unmarried couples to adopt. For an unmarried couple, child custody becomes an issue if they decide to separate since the mother gets the natural custody of the kids unless a court orders otherwise. If the mother dies, her next of kin get the custody of her children and the father has to undergo a lot of complicated procedures to secure custody if he wasn’t married to the mother of his children.

Legal rights of next of kin

If you weren’t married, family members of your partner who could be classed as next of kin and would have the right to say what happens to them and their assets in case of an emergency. A spouse is legally and automatically classed as the next of kin.

Rights to a partner’s benefits

Spousal veteran’s benefits, public safety officers’ death benefits, wrongful death benefits and state pensions are only offered to spouses and not unmarried partners from cohabitation.

Combined expenses

Unless you and your spouse live in different cities, being married allows you to combine a lot of your shared expenses. Rent, mortgages, insurance premiums, loans, grocery bills, cable, electricity and other amenities’ bills can be combined and paid for together. Some cellphone companies and rent plans allow you to accommodate a spouse within your existing expense at no extra charge.

Marriage increases financial stability

Right from the moment you say your I Dos, you claim joint ownership over the income and assets of your spouse. When an emergency occurs, you can rely on the individual savings of your partner to bail you out. You can share the cost of buying a new home or a new car with your spouse. Through retirement, Social Security credits can be earned and even if a partner decided to stay at home to raise the kids, they don’t have to worry about losing income.

Getting marries gets you favorable loan offers

Having the benefit of two incomes to back you up, you can get double the size of the loan that you can take out. Married couples are preferred as loan customers by banks and the cost of a loan can be distributed evenly on two incomes. Unmarried couples do not receive such benefits.

Getting married improves your credit score

Your spouse’s credit score can improve your rating as well. Even if you have a bad credit score, your spouse’s credit can help the family secure a sizeable loan which wouldn’t be the case for unmarried couples.

You always have a date for an event

The best thing about being married is that you don’t have to panic everytime an invitation asks you to list your plus one. Even though you can choose to show up at an even spouse-less, it’s always comforting to know that you always a date ready.

People generally see you as a success in life

A married couple is and has been at the centre of the society’s vision of socially successful people. Because of the financial stability that being married brings or even the fact that a spouse is your legal next of kin, being married gets you the stamp of approval from society for sure.

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