Love Later in Life: What Seniors Should Know Before Tying the Knot

Romance doesn’t retire. More and more older adults are finding companionship, whether through marriage or by living together, and in some cases, both trends are rising at the same time.

According to the National Center for Family and Marriage Research at Bowling Green State University, the percentage of U.S. adults aged 65 and older who are married increased slightly, from 54.3% in 1990 to 57.4% in 2022. At the same time, many are choosing not to walk down the aisle. A Pew Research Center report from 2017 showed the number of adults aged 50 and older who live together without marrying grew by 75% between 2007 and 2016, from 2.3 million to 4 million.

These numbers may seem contradictory, but together they tell a story of seniors choosing love and companionship in the way that fits their lives best.

Whether you’re thinking of saying “I do” or simply moving in with someone special, there are some unique things to think about as a senior.

Marriage and Your Money

Getting married in your later years isn’t just about love. It also comes with financial questions that need careful answers. Remarrying after a divorce or the loss of a spouse can change how your Social Security benefits work.

If you receive survivor benefits from a deceased spouse, those payments may end when you marry again, unless you’re 60 or older (or 50 if disabled), in which case you can still claim survivor benefits even after remarriage. Alternatively, if your new spouse has a stronger Social Security record, you may qualify for a higher benefit based on their earnings.

Pensions and retirement accounts may also change. Some pension plans reduce or cancel payments if the surviving spouse remarries. Rules vary from one employer to another, so it’s important to check with your plan administrator to see how a new marriage could impact any benefits you’re currently receiving.

Health insurance is another issue. If you’re covered under a former spouse’s insurance or retirement plan, getting remarried could end that coverage. Likewise, Medicaid eligibility or long-term care plans might be affected by your new household income or asset levels.

Marriage and Your Legacy

Marriage affects more than monthly income, it can also reshape your plans for passing down property, savings, or heirlooms. If you don’t have a prenuptial agreement, your new spouse may have legal rights to your estate even if you intended most of it to go to children or grandchildren from a previous relationship.

In many states, spouses are legally entitled to a portion of the estate, even if the will says otherwise. That’s why updating your will, trusts, and beneficiary designations is critical after marriage. It’s also a good idea to review powers of attorney and medical directives to ensure your wishes will be honored.

Living Together Without Marriage

For some couples, living together offers love without the legal strings. Cohabiting can protect Social Security or pension benefits and may simplify financial arrangements, but it can also leave fewer protections if one partner becomes seriously ill or passes away.

Without a marriage license, your partner may not have automatic rights to make medical decisions, access financial accounts, or inherit property unless you specifically name them in legal documents. That means healthcare proxies, durable powers of attorney, wills, and cohabitation agreements are especially important.

Conversations That Matter

Love at any age is a gift, but it’s even better when built on clear communication. Whether you’re planning a wedding or simply making room in the closet, take time to talk openly about your finances, family expectations, and future plans.

Ask questions like:

• How will we handle household expenses?
• What happens if one of us needs long-term care?
• Do we want a joint bank account?
• Who will inherit our home or assets?

These conversations may feel awkward at first, but they can prevent misunderstandings and heartache later.

Whether you’re choosing to marry or cohabit, one thing is clear: the golden years can still shine with love, laughter, and meaningful connection. Just be sure to understand the fine print before writing your next chapter.