Marriage Changes Everything: What You Need to Know About Money, Property, and Legal Rights

My adult daughter and her long-time boyfriend recently sat at our kitchen table, casually discussing the idea of getting married. “If we tied the knot,” they shrugged, “nothing would really change.”

As a parent—and someone who’s lived through the legal, financial, and emotional realities of marriage—I wanted to say: Marriage changes everything.

From the outside, a wedding looks like the joyful culmination of a love story. But once the vows are spoken and the license is signed, marriage becomes a powerful legal contract that reshapes nearly every part of your life—from your bank accounts to your medical rights.

One of the biggest shifts couples face after marriage is how the law treats their money. You’re no longer just individuals—you’re a financial unit.

Shared Assets and Debts

In most states, anything earned or acquired during marriage is considered marital property. In community property states like California, Arizona, or Texas, income and debt are split 50/50—regardless of whose name is on the account.¹

Joint Accounts and Loans

Many couples open joint bank accounts or apply for loans together. This simplifies budgeting but also means shared legal responsibility for repayment.

Credit Scores

Each spouse keeps an individual credit score. However, joint accounts—like mortgages, credit cards, or car loans—affect both credit histories.

Insurance Benefits

• Spouses can join each other’s health insurance plans, often at lower premiums.

• Marriage also makes it easier to name your partner as a life insurance beneficiary.²

Marriage changes how you file taxes—and how much you owe.

Joint Filing Benefits

Married couples filing jointly get a larger standard deduction. They may qualify for credits like the Earned Income Tax Credit or Child Tax Credit.³

Marriage Penalty or Bonus

Depending on income, couples may pay less or more than they would filing separately. High-income couples often face penalties, while lower-income couples may benefit.⁴

Estate and Gift Tax Savings

Spouses can transfer unlimited assets to each other without triggering taxes.⁵ This is a key tool for preserving family wealth.

Buying a home together is a major milestone—but marriage changes how ownership works.

Shared Ownership Rules

If both names are on the deed, decisions like selling require both signatures. In divorce, courts help decide how to split the proceeds.

Community Property States

In places like California, Texas, or Arizona, even if one spouse pays the mortgage, both own the home equally.

Equity and Appreciation

If one spouse owned the home before marriage, any increase in value during marriage may be considered marital property.

Retirement Accounts Count Too

Pensions, 401(k)s, and IRAs earned during marriage are often shared assets.⁶

Marriage gives spouses automatic inheritance rights, but without proper planning, things can go wrong.

Inheritance Without a Will

If a spouse dies without a will, the surviving partner usually inherits most or all of the estate.⁷ But state laws vary, and blended families may face disputes.

Update Your Beneficiaries

After marriage, update retirement accounts, insurance policies, and wills. Otherwise, ex-partners or parents might receive assets instead of your spouse.

Wills and Trusts

A will provides clarity and avoids conflict. You can include instructions for property division, guardianship of minor children, and charitable gifts.

Advance Directives and Power of Attorney

These documents give your spouse legal authority to make medical and financial and decisions if you’re incapacitated.

Marriage grants automatic medical rights that unmarried partners often lack.

Next of Kin

Spouses can make medical decisions if their partner is incapacitated.⁸

Hospital Visitation

Married partners are guaranteed visitation rights—even under strict policies.

Family Medical Leave

Under FMLA, you can take unpaid leave to care for a sick spouse without losing your job.⁹

Bereavement Leave

Many employers offer paid leave for the death of a spouse—something rarely extended to unmarried partners.

Marriage connects you to a shared safety net of government protections.

Social Security and Medicare:

You may qualify for benefits based on your spouse’s work history, including survivor benefits.¹⁰

Veterans and Disability Benefits:

Spouses may be eligible for benefits tied to military service or employment.

Marriage isn’t just about rights. It also comes with responsibilities.

Spousal Support (Alimony)

Courts may require one spouse to support the other after divorce, especially if one was a stay-at-home parent.

Equitable Property Division

Divorce laws aim to divide assets fairly, though “fair” doesn’t always mean “equal.”

Prenuptial and Postnuptial Agreements

These contracts let couples set financial terms in advance—especially useful when wealth levels differ.¹¹

Marriage changes how the world sees you—and how you see yourself.

Name Changes

Marriage simplifies the process of adopting a shared last name.

Social Identity

Couples are often viewed as a unit—socially, professionally, and emotionally.

At its core, marriage is about love, commitment, and building a life together. But it’s also a legal and financial partnership that demands awareness and planning. Marriage works best when couples enter it with open eyes—ready not just for romance, but for long-term commitment and responsibility. So are you ready for this grand adventure called marriage?

¹ California Courts. (n.d.). Property and debts in a marriage. Judicial Branch of California. https://www.courts.ca.gov/1039.htm

² MetLife. (2025). Marriage and insurance benefits. https://www.metlife.com

³ Internal Revenue Service. (2024). Publication 501: Exemptions, standard deduction, and filing information. U.S. Department of the Treasury. https://www.irs.gov/publications/p501

⁴ Mengle, R. (2025, July 31). 10 tax benefits of marriage. TurboTax. https://turbotax.intuit.com

⁵ Northwestern Mutual. (2025, April 28). 5 tax benefits of marriage you should know about. https://www.northwesternmutual.com

⁶ U.S. Department of Labor. (2024). Retirement benefits. https://www.dol.gov

⁷ Nolo. (2025). Inheritance rights of spouses. https://www.nolo.com/legal-encyclopedia/inheritance-rights-of-spouses.html

⁸ Nolo. (2025). Legal rights of next of kin. https://www.nolo.com/legal-encyclopedia/legal-rights-of-next-of-kin.html

⁹ U.S. Department of Labor. (2024). Family and Medical Leave Act (FMLA). https://www.dol.gov/agencies/whd/fmla

¹⁰ Social Security Administration. (2024). Benefits for spouses. https://www.ssa.gov/benefits/retirement/planner/applying7.html

¹¹ American Bar Association. (2024). Prenuptial agreements. https://www.americanbar.org/groups/family_law/resources/family-law-topics/prenuptial-agreements/

¹² U.S. Citizenship and Immigration Services. (2023). Marriage-based immigration. https://www.uscis.gov/family/family-of-us-citizens/marriage-based-immigration