More people have been choosing to get married in recent years.

Marriage is seen as the ultimate way to show commitment to a loved one.

Not only is a proposal a romantic gesture but getting hitched also brings attractive financial benefits at a time when living costs are on the rise.

In 2012, the provisional number of marriages increased by 5.3 per cent to 262,240 in England and Wales.

In 2011 and 2012, the largest percentage increase in the number of marriages was for people aged 65 to 69, rising by 25 per cent and 21 per cent respectively.

Of course we should marry for love, but it is worth knowing the financial benefits and tax allowances available as man and wife, or civil partners.

Inheritance tax (IHT) is the biggest financial benefit of marriage, defined by Saga is a one-off levy that needs to be paid to the government when someone has died, and is based on the value of the estate they leave behind.

Everyone has an IHT allowance of £325,000, which means you can inherit assets up to this amount before paying tax.

The tax charge on inheritance is 40 per cent, so any way of saving money is helpful.

Being married also means you can inherit assets including a home from a spouse without having to pay IHT - you cannot get this if you were just cohabiting and instead would face a tax charge if inheriting from a partner.

Additionally, if a husband, wife or civil partner dies and their estate is below the IHT threshold, the remaining amount can be transferred to the surviving spouse.

This even applies if that person remarries.

Married couples can also gift items such as money, property and possessions to each other without IHT.

It is not just assets that you can inherit from your spouse tax-free, if a husband or wife dies their spouse automatically becomes eligible for their pension.

Once in retirement, a widow can receive a spouse’s drawdown benefits tax-free.

From April this year you will also be able to inherit annuities tax-free if your partner dies before they turn 75.

There are plenty of financial benefits when both partners are alive.

If you earn below the tax threshold, currently £10,000 and increasing to £10,600 in April, you will be able to transfer £1,100 to your partner from April.

This is known as the married couple’s allowance and can help reduce your tax bill.

It is being introduced in April 2015, but only if neither couple is a higher rate taxpayer. You will have to claim for it by registering at www.gov.uk/marriage-allowance.

Everyone has a capital gains allowance that they can earn each year from the sale of assets.

If you earn more than that in a year you would face a CGT bill of either 18 or 28 per cent, depending on the type of taxpayer you are.

But married couples can share their allowance and spread gains between them to reduce their tax bill.

This can save money on any returns you get when you are selling shares or holdings in funds, or a buy-to-let property.

Remember, money should not be the motivating factor when getting married, but it is worth using these allowances to ensure your finances are as happy as your marriage.