In the wake of the recent Supreme Court decision affirming the right of same-sex couples to marry, it is time to discuss some legal and economic factors a couple might consider (in addition to the religious, societal, and emotional ones) when thinking about whether they should tie the knot: Taxes: Married couples typically get a reduction in taxes. However, if the two would-be spouses have similar incomes, they may incur the dreaded “marriage penalty” and end up paying more in taxes. ...
Marriage By Mail?
We recently received a call inquiring what the alternatives are for getting married in Idaho, if any. Take, for example, two people who live in different states, can’t travel for some reason, but still want to marry. In Idaho (as with most states), before you can get married, you have to apply for a marriage license. (Marrying without a license is a misdemeanor and is punishable by a fine of between $50 and $200.) According to Idaho law, the county recorder must issue a marriage license ...
Should We Get A Prenup?
I’ve been asked about premarital or prenuptial agreements — what they do and who might need one. A prenuptial or premarital agreement, as the name implies, is an agreement entered into by two people who are planning to get married. Although certainly not the most fun or romantic aspect to planning a marriage, a “prenup” is a topic many couples should discuss. (I prefer the term “premarital agreement,” so that’s what I’ll use for the rest of this post.) A premarital agreement is ...
