Pro: Tax-free Death Inheritance
We have to think about death, but it’s a natural part of life- more specifically, we loathe to think about the death of a loved one. But you should know that by tying the knot, you’re actually making a good financial decision in case of this unfortunate circumstance.
That’s because the money left to a spouse is not taxable at death, if that spouse is an American citizen. The money you or your spouse could receive is unlimited.
If either of you has life insurance and either of you passes away, the other does not have to pay taxes on a life insurance payout, either. This is because it is not considered taxable income.
1 thought on “Is Getting Married the Most Financially Responsible Move?”
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