Legal Implications of Marriage
Many people can forget that as well as being an emotional union of a couple, marriage is also a legally binding contract. That means that once a couple say “I do”, they are bound to each other under law as well as in the eyes of their family and friends.
When a couple get married, their assets are considered to be joint assets or liabilities. Once married, a partner can take on some responsibility for, or relinquish some control over, many things. These can include:
- Bank accounts
- Property
- Savings
- Pension funds
- Debts
- Inherited wealth
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