Reply #5: Reasons for Cohabiting Seniors

[jody]

Cohabiting Seniors

Financial Reasons Seniors are Cohabiting
• Tax disincentives.
• Loss of military and pension benefits.
• Fear of incurring liability for partner's medical expenses.
• Credit rating protection.
• Separation of current debt.
• Ability to share expenses.
• Health insurance.
• Social Security benefits. There seems to be much confusion on this topic. Depending on your age, you may not lose Social Security benefits.
"In general, you cannot receive survivors benefits if you remarry before the age of 60 unless the latter marriage ends, whether by death, divorce, or annulment. If you remarry after age 60 (50 if disabled), you can still collect benefits on your former spouse's record. When you reach age 62 or older, you may get retirement benefits on the record of your new spouse if they are higher."
Source: Social Security Administration
• Asset protection.
• Alimony.

Personal Reasons Seniors are Cohabiting
• Anti-marriage attitude from previous unhappy marital experience.
• Lack of concern about what others think.
• Love and friendship.
• Children's inheritance concerns.