There sure are a lot of people clamoring to get married lately! We're both happy we're married, and married couples, studies have shown, generally are in better health than unmarried couples.

But is marriage truly beneficial financially? Frederick Hertz, Oakland, Calif., attorney and co-author of two Nolo books, "The Legal Guide for Lesbian and Gay Couples" and "Living Together: A Legal Guide for Unmarried Couples," says too many couples overlook a chief consequence of marriage.

"Marriage is about taking money from the high earner and giving it to the low earner -- both during marriage and upon dissolution," Hertz said. "The biggest mistake people make is they focus on tax issues as opposed to focusing on alimony."

Alimony refers to the payments from one spouse to the other for the benefit of the spouse who is receiving the payment. "The biggest economic consequence of marriage is having to support an ex [spouse] in the event of divorce. This has a much greater impact than taxes!"

Hertz said more than half of couples marrying today are apt to get divorced. The other chief financial mistake people make in considering marriage, he says, is ignoring the potential of joint liability for marital debt. "Certainly, there is joint liability for marital debt," he said. "In some states, there also is joint liability for premarital debt."

Exactly how you can protect yourself from creditors if your spouse charges up a storm, he says, varies according to state law. Thinking of giving a house down payment to a married child? Such innocent gifts, he says, are huge areas of dispute if a marriage breaks up. Particularly if the gift is wired to an escrow account, you have no paper trail to prove whose money it truly is.

Despite all these issues, "Overall, the tax system strongly favors married couples," he said. It's true that marriage has gotten a bum rap tax-wise due to what he calls the "myth" of the "marriage penalty." This penalty refers to added income tax that married couples with similar earnings may suffer compared with single taxpayers. This controversial tax wrinkle is being phased out.

Even so, Hertz says the marriage penalty affects income taxes of only a small number of married couples. "If you look at all taxes -- property taxes, Social Security benefits and estate taxes -- married couples are strongly favored over unmarried couples!".....

More financially favorable news about marriage. Upon formation of a marriage, its dissolution or the death of a spouse, assets may be transferred from one spouse to the other -- exempt from most state and federal taxes, he says. "This is a great advantage!" .....

Social Security also generally favors married couples. That's because you are eligible to collect a spouse's Social Security benefits. However, if you were collecting Social Security benefits from a deceased spouse or ex-spouse, you need to examine whether you could risk losing those benefits if you remarry. The convoluted rules on this issue are available at www.ssa.gov. Click on "marriage, divorce and name changes.".....

You also might wish to stay clear of marriage if you're impoverished and think you might need to go into a nursing home. A spouse's added assets could disqualify you for free nursing home care through a state program and/or Medicaid.

"You can't just get divorced on March 1 and get government benefits on March 2 either," he warned. Most states have a specific "look back" period over which they may evaluate your assets.

Hertz says recent moves in some states to make state marriage laws applicable to same-sex couples could doubly complicate financial situations. "You have to think of them as married for state purposes, but unmarried for federal purposes," he said. "It is important to recognize at this point, we don't know whether same-sex partners who marry are going to obtain federal recognition. It is doubtful they will in the short run. Many of the tax advantages straight couples get in marriage will be denied to same-sex couples."