Are there any financial implications of getting married?

Yes, there are several financial implications of getting married in California. Most notably, when two people marry, their incomes may be combined for the purpose of determining eligibility for various public benefits, such as Social Security retirement benefits or purchasing insurance through the Affordable Care Act. Additionally, married couples may combine their taxes, resulting in a tax break due to the marriage penalty. Unfortunately, it can also mean a slightly higher tax bill for some couples if one person’s income is significantly higher than the other’s. Married couples in California can also inherit all of each other’s assets in the event of one partner’s death, which may be beneficial or disadvantageous depending on the circumstances. For example, if one spouse is the sole heir to a large estate, their marriage could trigger a large inheritance tax, which could be expensive for the surviving spouse. Finally, California has a form of property ownership known as community property, which stipulates that all assets acquired during the marriage belong to both partners, regardless of whose name is actually on the title. This means that married couples must split any assets, such as a house, if the couple divorces.

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Are there any financial implications of getting married?

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