The Martin Lewis Podcast Marriage & Divorce: Benefits of Marriage | Are prenups worth it? | How to divorce cheaply| Splitting pensions, mortgages & more
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Oct 28, 2024 Matthew Taylor, a divorce lawyer, Tamsin Cain, a financial advisor, Rachel Kelsey, a family law expert, and Ciarán Quinn, a Northern Ireland solicitor, dive deep into marriage and divorce. They unpack the real benefits of marriage beyond love, discuss the necessity of prenups, and explore how to navigate divorce affordably. The conversation reveals tips on splitting assets, handling pensions, and emphasizes mediation's role in resolving conflicts. This lively discussion offers invaluable insights for anyone facing the marriage or divorce journey.
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Marriage Tax Benefits
- Consider marriage for financial benefits like inheritance tax advantages.
- Married couples can pass on up to a million pounds tax-free to descendants.
Capital Gains Tax Benefits
- Utilize capital gains tax benefits by transferring assets to your spouse tax-free.
- This can help optimize tax rates if one spouse has a lower tax bracket.
Legal Protection in Marriage
- Marriage offers greater legal protection during separation than cohabitation.
- Married couples have broader claims for spousal maintenance and pension sharing.