Planning Beginner: Financial Aspects of Getting Married

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1.
When it comes to marriage, which of the following are generally considered to be financial responsibilities of marriage?
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All of the above. Each of these financial responsibilities is commonly expected of those who marry. Financial support for any children during the marriage is also expected.
2.
If you are married and your spouse gives you a gift, how much of that gift is subject to the gift tax?
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None of it. By federal law, gifts given to a spouse are exempt from gift taxes.
3.
The "marriage penalty" refers to _______.
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Filing taxes jointly and ending up in a higher tax bracket. This happened in the past because of the mismatch of tax brackets, but the 2018 tax law changed them such that the penalty occurs only in the two top brackets (most taxpayers are not in these brackets).
4.
The "marriage penalty" refers to _______.
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Filing taxes jointly and ending up in a higher tax bracket. This happened in the past because of the mismatch of tax brackets, but a recent tax law changed them such that the penalty occurs only in the two top brackets (most taxpayers are not in these brackets).
5.
If you are married and you die with a retirement plan that still has funds in it, your spouse typically receives those funds.
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True. Your spouse is first in line to receive them, unless you have specified otherwise with your spouse's consent.