Wednesday, April 25, 2012

The Cohabitation Effect, Part II:

Our prior post on cohabitation addressed young couples living together prior to marriage.  This post (and linked article) addresses cohabitation for older individuals, many times after a divorce earlier in their lives.  Presently, estimates show that the number of people over age 50 who are living together romantically has more than doubled from 1.2 million in 2000 to 2.75 million in 2010.  Realistically the cause of this increase can be reduced to two related explanations:

1.      Some individuals have been married before and either don’t want to deal with the possibility of another divorce or simply have a “been there, done that” attitude towards marriage; and

      2.      Couples who want to share living expenses without the commitment of marriage.

Just as with younger individuals, the older cohabitating couple not contemplating marriage may want to consider a cohabitation agreement. In fact, in many circumstances the older couple would benefit more as it is likely they will have accumulated assets such as a home, vehicles, and other significant tangible and intangible assets that should be protected in the context of a committed, but not married, relationship.   

If you have any questions concerning cohabitation agreements, feel free to contact us at 317.DIVORCE orclick here to contact us online.

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