• Can married couples hold property?

    Yes. After marriage, there are many ways of owning property. They differ from state to state. Sole tenancy, which is when one individual has ownership. The property is passed on in accordance with the will at death. Joint tenancy, with the privilege of survivorship. Two or more people have equal ownership. The property is passed […]

  • After marriage, what are the tax implications?

    You are entitled to file a joint income tax return upon marriage. Although this simplifies the filing process, you will more than likely discover that your tax bill is either higher or lower than when you were single. It’s higher when you file together, as more of your income is taxed in the higher tax […]

  • Should I update my will when I get married?

    Definitely. When an important life event occurs such as marriage, it should be updated. If not, your spouse and other beneficiaries will not get what is meant for them at the time of your death.

  • Who needs to be notified if a spouse changes their name after marriage?

    All organizations that you had correspondence with while using your unmarried name should be notified. You can begin with the following list: The Social Security Administration Department of Motor Vehicles Post Office Investment and bank accounts Employer Voter’s registration office School alumni offices Credit cards and loans Club memberships Retirement accounts Subscriptions Passport office Insurance […]

  • Is more insurance necessary for married couples?

    In the case of death, life insurance will provide a form of income for your dependents, children or whoever is your beneficiary. Because of this, married couples usually require more life insurance than singles. Having someone dependent on your income will determine if you need to have life insurance. If someone such as a child, […]

  • How should unmarried couples protect their estate and financial holdings?

    Here are some important steps to take for couples that are unmarried: Draft wills. The chances of the intentions being followed through with after a death are greater if both partners make wills. Without wills, the probability of the unmarried surviving partner having no rights is more likely. Think about owning property together. This is a way […]

  • How does legal treatment differ between married and unmarried couples?

    Unmarried couples don’t: Inherit each other’s property automatically. Married couples have the state intestacy laws to support them if they do not have a will. Under the law, the surviving spouse will inherit (at the minimum) a fraction of the deceased spouse’s property. Have the privilege to speak for one another in a medical crisis. […]