Committed but unmarried couples would be wise to make financial plans like married couples do. For example:
* Discuss retirement goals, debt, and beneficiary arrangements.
* Bank accounts, credit cards, and investments should be designated as yours, mine, and ours.
* A cohabitation agreement can say who gets what if you split up.
* Designating your partner as your healthcare proxy and providing a durable power of attorney will guarantee that decisions can be made for you. A will is essential.
Rick Good spent ten years in the newspaper business, including with The News & Observer (Raleigh, NC) and The Greenville News (Greenville, SC). He co-wrote, with Melinda Coleman, Rutledge to Riley: Governors of South Carolina, 1776–Present (Published by The Greenville News), and is the author of Mind Games Trivia #1 (Amazon). He has recently spent 15 years creating original trivia content through Sounds Good Mobile Entertainment and continues that with his new company, SGME Software. He edits The Smart Reader’s money, real estate, and business coverage.
