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The Marriage
Test
By Johnette Duff
Love should not blind a couple to
the realities of their legal status of husband and wife, for they are
bound by an unwritten contract of marriage governed by the laws of the
federal government, the state they live in and the decisions of the
judiciary. Every bride and groom must learn that the state is at the
altar with them.
You would never sign a contract
without reading it or seeking an attorney's advice. Those about to
marry, however, have never been told how important the fine print is. No
options are offered, no negotiation allowed, and no warranties extended,
express or implied, when you say "I do".
If all the terms were fully
disclosed, who knows if you would sign on the dotted line without
further negotiations? Take the test below to evaluate your knowledge of
the marriage contract.
The Marriage Test
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Do you know how state law
controls the property you acquire during your marriage?
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Do you know what interest the
state says your spouse has in the income-producing (i.e. interests,
dividends, rents) assets you owned before marriage?
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If your spouse died without a
will, do you know if your state would require you to share your
marital estate with his parents or siblings?
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Do you know how debts or
obligations your spouse has before marriage can impact your pocketbook
after marriage?
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Do you know if your marriage is
the victim, or potential victim, of the "marriage penalty tax" in the
Internal Revenue Code?
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If you move into a home that one
of you already owns, do you know what the tax ramifications of
transferring title to a new spouse could be?
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Do you know what interest your
state says your spouse has in any inheritance or personal injury award
you receive?
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If you move to another state
after your marriage, do you know how the assets you own can be
affected?
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If you and your spouse executed
a will in one state but moved to another, do you know what potential
impact this could have on your estate plan?
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If this is a remarriage for
either of you, do you know how benefits from a prior marriage, such as
alimony, social security benefits, pensions, retirement benefits,
medical insurance, will be affected by your new legal status?
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If you or your spouse have
children from a prior marriage, did you know that some states
differentiate between children of a current marriage and children from
a prior marriage when someone dies without a will?
You may believe the idea of a
premarital agreement is unromantic, but marriage itself is a contract
between man, woman and the state. Often, it isn't until death or
dissolution of the relationship that couples find how intrusive the
state-controlled marriage laws can be.
The state's marriage contract is
influenced by old-fashioned assumptions about the American family,
assumptions that have little basis in today's reality. No matter how
distasteful this control is, our intimate personal relationships are
regulated by duties and responsibilities determined by the legislatures
and the courts.
Marriage, even in the midst of the
changes in our society today, is here to stay. For those whose faith in
the institution of marriage remains hopeful, the secret to success is
knowledge of the legal and financial ramifications of the union.
An understanding of how assets
acquired in marriage are owned, both during the marriage and upon death
or dissolution, is fundamental. The fifty states are divided into
separate and community property states. However, within each state, the
rules vary widely and are continually reevaluated as society demands.
Do you know what the laws of your
state are? If not, check out loveandthelaw.com for an inexpensive and
easy way to find out.
The love and the law newsletter is
written by Johnette Duff, Attorney at Law* Copyright 2004 by Johnette
Duff Ms. Duff is licensed in the State of Texas
www.loveandthelaw.com
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Author's Byline Johnette Duff is
the author of "Living Together?, Marriage 101 and Love After 50" She is
an Attorney and is licensed to practice in the state of Texas. Johnette
has helped thousands of individuals understand matrimonial law and
family law issues. Visit her site to find out how she can help you.
http://www.loveandthelaw.com or
johnetteduff@aol.com |
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