The official marriage thread

That seems to me that it touches on whether your marriage abroad would be recognized in the US or not, regardless of whether you did anything to make it official. If it would be recognized as valid in the US, then I think you could be in trouble if audited and IRS found out about it since even married to a NRA spouse living abroad, you’re expected to file as married, filing separately. The single and HOH filing status should not be available if marriage would be recognized in the US. It’s probably a low risk though.

But anyway, that’s a good list of financial reasons against marriage for high income earners with similar incomes.

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Over the life of the loan, I assume?

I think he means he has a 1.1MM mortgage, and he is able to deduct the mortgage interest on this loan.

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I thought similar, but if you read it, it says “$1.1M worth of mortgage interest” so I wasn’t sure how to take that.

Maybe he deducts 1.1m of interest monthly. It’s just a really big loan.

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We had a local ceremony back home with friends and family and no legal paperwork was filed. There is no concept of “common law marriage” in CA and marriage is a legal status. This was the same issue same sex couples had. Plenty were married in ceremonies, but they could not obtain “legal status” in the eyes of the IRS.

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Single/MFJ can only deduct $1.1MM of mortgage interest. However, unmarried taxpayers who co-own a home are each entitled to deduct mortgage interest on $1.1 million of acquisition and home-equity indebtedness. See Ninth Circuit’s decision in Voss, 796 F.3d 1051 (9th Cir. 2015).

Obviously, this generally isn’t a big deal, but in HCOL areas such as CA, it is very conceivable that we could run into this issue and most likely will with out next house purchase.

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Ah, so you were citing a benefit that is afforded to you, via your situation, not that you actually pay that much in interest. I see.

100% correct. Consider that you had a decades-long nationwide movement by same-sex couples to obtain legal benefits of marriage. Were there symbolic reasons for this? Sure. But if there were not significant legal benefits granted to married couples, such benefits wouldn’t have been pursued so fiercely.

Everything is great until it isn’t. Should you get divorced, it will turn your life upside down and inside out. With the divorce rate around 52% for a first marriage, over 66% for a second marriage and over 72% for a third marriage.

Not trying to be Dwaynie Downer, but this is reality.

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Greatness, where are you getting these stats? Thanks.

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Some stats:

http://www.divorcestatistics.info/divorce-statistics-and-divorce-rate-in-the-usa.html

http://divorce.com/divorce-rate/

There are two old threads from FWF that are relevant here. These are the archived versions.

Benefits of Marriage - what are they?
For those who are married with separate bank accounts, how do you handle expenses?

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Made me laugh out loud… “More than half of all marriages end in divorce – not counting the ones that end in murder, suicide and psychiatric facilities.”

[YouTube - Men, Math and Marriage]

You can replicate a lot of the benefits of marriage via contract, but not the really important ones, basically anything that requires the government to treat you as married. We went through a lot of this before gay marriage was legalized

I should know, every thread on the internet about marriage end up with the 50% divorce rate stat and it’s always the same people who cite them. go figures.

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I understand why everyone is focused on the financial side (this is FD after all), but I don’t think you can boil marriage down simply to numbers on a spreadsheet. For many people there is a business side AND an emotional side.

Like it or not, in many circles marriage is the norm for long term relationships. Sure you can tell everyone you know to pound sand when they try to start a conversation about when you are going to marry your 10+ year GF/BF. But you will quickly run out of friends… At least in my area, you can have a nice, non-extravagant wedding for $10k. At that point it’s just a nice party for family and friends.

Find the right partner instead of trying to fit a bad one into a financial contract.

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I given up on caring what other people think about me a long time ago. If you’re just getting married just to have “friends”, well, that’s not a very wise choice.

Just remember, the person you marry is not the person you divorce. Just because one party is happy, doesn’t mean the other one is happy too. Thus, get ready for a butt pounding (financially) when the unhappy party all of a sudden files for divorce.

Good luck with your roulette wheel.

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Many people? I would hope that’s the case for nearly everyone!

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We got married in 1992 and spent $1500 total. That’s fifteen-hundred dollars, to make it clear I didn’t leave off any zeros. We paid for it ourselves, no financial help from either side. We didn’t have a lot of money at the time. We weren’t trying to make our wedding into something to impress everyone else.

The number of guests was around 60. We had a sit-down dinner in a private room at a local restaurant that we’d scoped out ahead of time. No alcohol to keep the costs down. The food was much better than at other catered weddings we later attended in fancy halls. We had only minimal flowers, bride, groom, matron of honor, best man, church altar. Standard size wedding cake. No music. We had pictures taken at a photography studio that was a couple of doors down from the restaurant. The rest of our wedding /reception pictures were taken by our guests who made copies for us. My BIL shot some video during and after the ceremony. I had a nice, brand-new wedding dress that cost $189. It looked as good as any that add a zero or two to the price.

The only thing I’d do differently today is leave some of the guests off the list. We were somewhat “pressured” by family on both sides to invite “so-and-so”. Weddings are supposed to be about the couple getting married, not the guests. It’s not the couple’s job to impress them, either.

Even $10K sounds extravagant to me today, for a wedding. I worked with a woman who had spent $10K just on her wedding dress. I couldn’t see the sense in it.

My neighbor’s daughter just got married last month. Last year my neighbor was sharing some of her stress with me over the potential costs. They were paying for the wedding, totally. I’m not sure why. Daughter has been living away from home for several years and is about 25/26. But I digress.

Guests were to include cousins that my neighbor hadn’t seen since childhood and, therefore, the bride-to-be had never met. I asked point blank, “Why invite them?” She felt obligated to, because “they’re family.” Quote for just the reception was about $10K, maybe for a couple of hundred guests.

Just my opinion, but I think too much money is spent on weddings to impress guests. Or to please them. Or to brag to others about how much was spent.

Or out of pressure from family to invite bride’s deceased mother’s cousin who hadn’t been seen by said mother since childhood, because bride’s maternal grandmother wants her sister there and thinks that her sister would appreciate having her daughter there also. Or grooms step-mother’s 2 brothers announcing loudly at a funeral that they were looking forward to our wedding, when they weren’t originally going to be on the guest list. With SO, wife, and 2 kids, that multiplied the guest list some. Yes, this happened to us. Though groom did put his foot down when step-mother tried to get him to invite her nephews. :smirk:

In hindsight, we could have eloped. :smile:

Speaking of the emotional side of marriage, one’s wedding planning is an excellent place for each party to the marriage to start asserting themselves against this sort of thing.

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