As the life expectancy of people in the United States increases, there are more second and third marriages. Widows and widowers are increasingly likely to meet and decide that another marriage is a wonderful way to spend their remaining years. It is often a surprise to the children that Mom and Dad have lives of their own and choose to marry again.
Thank you to Peterson Hastings for posting this article by Jim Parker, Vice President, DFA Australia Limited:
By law, a number of tax provisions must be adjusted annually to keep pace with inflation. Before these numbers were adjusted for inflation, taxpayers automatically fell into higher tax brackets as their income rose with the cost of living. This was a stealth tax increase. Those taxpayers were paying more tax on the same "purchasing power." Now, the tax system includes some inflation adjustments to reduce the stealth tax increase.
Thank you to Elder Law Answers for this report: