Couples

Cohabiting Seniors – Numbers on the Rise

According to a new Census, it seems that in the United States there are more and more senior couples who are deciding to cohabitate together without being married. Unfortunately, these couples, who once believed in the idea of marriage, who once were happy in a married relationship, are facing a lot of problems and disapproval from the behalf of their children, because they have decided upon living together without being married.

One of the main reason for which there are so many senior couples who are cohabitating is because marriage is, by far, the most impractical thing to do, especially due to finances. But there are also a lot more reasons for which seniors decide that marriage is no longer for them.

Why Decide to Cohabitate instead of Getting Married?

First and foremost, seniors decide that cohabitation is better than marriage because of financial reasons. For one, both of them can lose their military and pension benefits and their health insurance can suffer. There are also many seniors who are afraid of losing their Social Security benefits. Although there is a law which states that marrying before the age of 60 can make people lose their benefits, regardless of how the previous marriage ended, be it a divorce or death. Even so, if you are over 60, you should be at peace, because the rule does not apply to seniors over the age of 60.

Aside of the financial reasons, senior couples may also have to deal with some personal issues. For instance, they may be concerned about what other people may think about them getting married again. Others may have had a bad experience in their previous marriage and they do not want to get married again. While most seniors decide to cohabit because they love each other and they feel that they are friends.

Tips for Cohabitating Seniors

First of all, when you decide to move in together, make sure you let your children know that your new relationship will not compromise their inheritance. If you want things to be great, make sure you update your wills and that you leave your assets separately. Keep your bank accounts and brokerage accounts or whatever types of accounts you may have separate. You can also sign a cohabitation agreement and maybe you can also discuss with your children about getting a longer health insurance plan, just in case.

It is important for you guys to also keep two separate households. You know how seniors get when they have to change their home. Instead of going through the hells of moving, you can consider keeping both households. It is a good way of making sure that you still have a place to live if anything goes wrong. Seniors who find themselves feeling alone usually turn to cohabitation. This does not mean they are necessarily in love, but that they feel lonely and it is good to have someone around, to talk to and to spend time with.

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