Asset Protection and Long-Term Care Planning for the Unmarried CoupleAsset Protection and Long-Term Care Planning for the Unmarried Couple

Increasingly, older adult couples are choosing to cohabitate without getting married. A recent study shows that roughly one quarter of the nation’s cohabitating couples are individuals over the age of 50.¹ The majority of these individuals have been married before. The reasons for choosing not to get married vary widely, but it isn’t uncommon for older adults to remain single to avoid negative consequences such as forfeiting a survivor’s pension or health insurance. While the choice to forgo marriage for many is logical prior to the need for long-term care (LTC), the choice not to marry can make paying for LTC and asset protection planning to pay for LTC costs challenging.

Early Planning

It’s critical for all planners, including elder and ...