When one spouse dies, his or her estate passes to … If you don't handle pressure well and try to keep your life as relaxed and stress-free as possible, getting married might not be your favorite thing. If you’re a widow getting a survivor’s pension, for example, you could lose that income by getting married. Across the board, however, divorce is costly, with a survey by Nolo reporting that divorces cost on average $15,500 — $12,800 in attorney fees alone. Most of these horrible reasons to get married will probably seem obvious and maybe even a little ridiculous. Read:Â 30 Biggest Tax Problems for Married Couples. if you’re not carefulÂ — or communicative, 30 Biggest Tax Problems for Married Couples. If you would rather spend your time advancing your career instead of your relationship, keep on being a total boss—there's nothing wrong with choosing your passion over marriage. Next: Why it’s better to stay single when it comes to car insurance, Car insurance is already expensive as it is. The Pew Research Center reported in 2010 that only half of Americans are married. Some people long for finally being able to call themselves a wife or husband, and others gag a little every time they hear it. And as we’ll see next, the result is far from peachy. Is it better to stay single to avoid astronomical legal fees? But marrying a partner whose track record with cars is lacking could mean higher premiums. Unfortunately, there are times when managing money as partners can be harmful. Of course there are many other financial considerations beyond taxes. Plus, the fear of divorce simply looms over our heads because, frankly, we're still surrounded by it. It basically becomes a second job. If you're in a relationship and the two of you know you want to be together for the rest of your life, why do you need a binding legal document to make that a reality? When both members in a marriage report high earnings, their tax return is skyrocketed into a higher bracket, meaning they pay much more in marriage penalties than both single filers and average-earning married couples. His work has appeared on MSN, Yahoo Finance, Fortune, Forbes, CBS and U.S. News. Higher earned income levels will increase your monthly repayment bills simply because of your spouse’s added income. It’s also important to seek financial counsel from a tax or legal professional.”, “I don’t think marriage makes as much a sense as it used to,” said Kim Shepherd, CEO of Decision Toolbox, a recruitment products and services company, noting that the dynamics of married couples have changed in the past few decades with more working women than ever. You might really care for your partner, but getting married means becoming family with their family too. “In 2015, the AMT exemption for Married Filing Jointly (MFJ) is $83,400 and filing single is $53,600. Many older people are choosing to live together and not get married due to financial reasons. All Rights Reserved. A Pew survey in 2010 showed that four out of ever 10 millennials actually viewed marriage as obsolete, particularly when it comes to having a family. Next: The downsides of “what’s mine is yours”, You could be forced to pay for your partner’s money problems. In addition, if there are children to consider you can expect your costs to go up substantially. If you remarry after age 60 (50 if disabled), you can still collect benefits on your former spouse's record. If there's really nothing excitement about marriage to you and it's mostly just what you feel like is the next step in the progression of your relationship, don't hit the altar.