Would You Married Again if Your Husband Die
Is It Better to Remarry or Just Live Together?
- December 30th, 2016
Finding honey later in life may exist unexpected and heady, but should information technology pb to marriage? The considerations are much different for an older couple with adult children and retirement plans than for a young couple only starting out. Before deciding whether to become married or just live together, yous demand to look at your manor program, your Social Security benefits, and your potential long-term intendance needs, amid other things. Any you lot decide to exercise, you may want to consult with your lawyer to make sure your wishes will exist carried out.
Here are some things to recall virtually:
- Estate Planning. Getting married can have a big effect on your manor programme. Even if you don't include a new spouse in your volition, in most states spouses are automatically entitled to a share of your estate (commonly ane-tertiary to one-half). One mode to prevent a spouse from taking his or her share is to enter into a prenuptial agreement in which both spouses agree not to take anything from the other'south estate. If you want to exit something to your spouse and ensure your heirs receive their inheritance, a trust may be the best selection.
- Long-Term Care. Trusts and prenuptial agreements, however, won't necessarily go on a spouse from existence responsible for your long-term care costs or vice versa. In addition, getting married can have an effect on your or your spouse's Medicaid eligibility. If yous can afford it, a long-term care insurance policy may exist a good investment one time you remarry.
- The Family Home. Whether you are getting married or just living together, before combining households you lot will need to think most what volition happen to the house once the owner of the house dies. If the owner wants to keep the business firm inside his or her family, putting the house in both spouse's names is not an pick. On the other hand, the possessor may also not want his or her heirs to evict the surviving spouse once the owner dies. 1 solution is for the owner of the house to give the surviving spouse a life estate. Once the surviving spouse dies, the house will pass to the original owner'south heirs.
- Social Security. Many divorced or widowed seniors receive Social Security from their former spouses, and remarriage tin can affect benefits. If y'all are divorced after at least 10 years of marriage, y'all can collect retirement benefits on your former spouse's Social Security record if you are at least age 62 and if your onetime spouse is entitled to or receiving benefits. If yous remarry, you generally cannot collect benefits on your former spouse's tape unless your later on marriage ends (whether past death, divorce, or disparateness). Even so, if your are a widow, widower or surviving divorced spouse who remarries afterwards historic period 60, you lot are entitled to benefits on your prior deceased spouse'southward Social Security earnings record.
- Alimony. If you are receiving alimony from a divorced spouse, it will likely finish once you remarry. Depending on the laws in your land and your divorce settlement, alimony may end even if you lot only live with someone else.
- Survivor's Annuities. Widows and widowers of public employees, such as constabulary officers and firefighters, often receive survivor'south annuities. Many of these annuities end if the surviving spouse remarries. In addition widows and widowers of armed services personnel may lose their annuities if they remarry before age 57. Before getting married, cheque your annuity policy to see what the impact will be.
- College Financial Aid. Single parents with children in higher may want to reconsider before getting married. A new spouse'south income could affect the amount of financial assist the college student receives. Some private colleges may even count the combined income of a couple that lives together if they commingle their expenses.
For an article from Forbes magazine on remarriage, click hither.
Source: https://www.elderlawanswers.com/is-it-better-to-remarry-or-just-live-together-6736