How marriage affects practical matters

When planning your wedding, it’s all too easy to get caught up in the romance of the occasion. And although it’s important to focus on your ‘happily ever after’, it’s also crucial to consider the practical effects of getting married. From planning your pension to maintain your credit score and balancing your finances, getting married can have an impact on every aspect of your life. Keep reading to find out more.


As @moneycouk says, ‘There was a time that making the leap from single life to married bliss came with a great range of tax incentives.’ These days, however, benefits are few and far between, so don’t bank on matrimony to boost your bank balance. One thing you can apply for after your wedding is Marriage Allowance. This allows you to transfer up to £1,250 of your personal tax allowance to your spouse if they earn more than you. This could save you up to £250 a year, but it’s only really beneficial if one partner earns less that £11,000 per annum.

Inheritance and tax-free gifts

There are some financial perks to getting married. One of the most beneficial is that getting hitched allows you to gift money to your spouse without paying tax on the cash. You’ll also be able to avoid paying inheritance tax on any money or assets that are left to your spouse when you die. This can save you a huge amount of money, especially if your partner was the main breadwinner or if most of your assets were in their name. If you don’t want to leave your money or assets to your spouse, you’ll need to write a legally binding will, otherwise everything you own will automatically pass to your other half when you die.

Credit history

If you apply for a joint credit card, current account, mortgage or other type of financial product together, then your credit history will become linked with the other person’s. Once you’re ‘financially associated’, you’ll have an impact on each other’s credit histories. If the person you’re associated with has a bad credit rating, this could have a negative impact on you. You don’t have to be married to be financially associated with another person. And in fact, saying your ‘I do’ won’t automatically link your credit rating with that of your spouse. However, if you intend to apply for a joint bank account or a joint mortgage once hitched, your spouse’s credit rating could have an impact on your finances, so make sure you talk about your financial situations before walking down the aisle.

Medical power of attorney

Another thing that will change when you get married is that your spouse will automatically become your medical power of attorney. This means that they’ll have to make decisions about your health and care if you’re unable to. Make sure you talk to your other half about your wishes so that they’re well-informed if circumstances change.

To find out more about getting married, and to find the venue perfect for your ceremony, explore our site or get in touch with a member of our team.

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Alice Bancroft-Turner

T: +44 1487 829 555

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