We hear this story often. Your lifelong partner passed away, and you have found someone else with whom to share your life. But in many cases, this new-found love will never result in marriage.
For some, the reason may be financial. In other cases, a decision to forego marriage may be a result of keeping children and grandchildren happy. Whatever you decide, here are some things to consider.
On the financial side, a second marriage for a surviving spouse could have serious implications. One of the biggest considerations is losing the pension or Social Security benefits from the deceased spouse.
Additionally, there may be new financial burdens to consider – the potential costs of a new companion’s future health or nursing home expenses.
On the personal side, you may love your new companion but desire to keep a degree of privacy.
Another consideration on the personal side is the reaction of adult children. In some situations, children encourage this new relationship. But in other cases, they may express opposition. This opposition may be the result of emotional considerations. But it may well be part of a desire to protect their financial standing. It’s certainly important to consider all of this.
Should you look at all of these considerations and decide to cohabitate or marry, there are legal considerations that must be taken into account. These considerations will vary based on whether or not you choose to marry.
It’s imperative that all of your legal and health documents reflect any change in your living situation. The best way to do that is with the help of a qualified elder law/estate planning attorney.