By Charisse Jones | USA TODAY
A growing number of American couples are skipping the walk down the aisle, deciding to live together instead. But that doesn’t let them off the hook when it comes to financial planning. In fact, a road map for their money may be even more necessary.
As of March 2012, the U.S. Census Bureau reported that 15.3 million unmarried heterosexual individuals were involved in live-in relationships. That was 6.5% of all adults, 18 and over, in the U.S.
“There is a trend in this country of cohabitating couples choosing not to formally tie the knot. But those folks shouldn’t be fooled into ignoring the importance of having a cohabitation agreement and estate plan in place. When it comes to providing for your significant other, and perhaps protecting your assets, there is no substitute for memorializing your wishes in a signed document regardless of whether you say ‘I do.’ ”
~Kaine Fisher
