With Sandra Block, Senior Associate Editor – Kiplinger’s Personal Finance
Podcast: |
Love and marriage don’t always go hand-in-hand – sometimes it’s the fear of commitment but many-a-times, the decision to not get married is rooted in personal finance despite 1,138 tax breaks, benefits and protections for married couples. This is especially true for older couples in second or third marriages who have children, alimony or other commitments from multiple marriages – and are just not comfortable diving into another marriage. For example, the number of people over 50 – living together but not married – doubled between 2000 and 2010… and it’s not because it’s no longer taboo but because of factors such as healthcare costs, social security, estate planning, etc.
Sandra Block walks us through the extra steps unmarried couples need to take to protect their financial interests, legal rights and inheritance issues – while cohabiting and when things go bad… such as the death of a partner or a break-up.
