Money Without Matrimony: The Unmarried Couple's Guide to Financial Security

by Sheryl Garrett

Love isn’t always followed by marriage!What do you have in common with Oprah Winfrey, Stedman Graham, Goldie Hawn, Kurt Russell, Elton John and David Furnish? They, like you, are part of an unmarried couple and either legally can’t or have chosen not to get married.But that does not mean that you can’t share financial and other obligations with your partner. Money Without Matrimony answers the questions unmarried couples have when developing plans to secure their financial futures
• Pros and cons of merging your finances
• Determining ways unmarried partners should own property
• Strategies to ensure that your wishes will be carried out under all circumstances
• The importance of partnership agreements and other legal documents for unmarried couplesAuthors and Certified Financial Planners™ Sheryl Garrett and Debra A. Neiman guide you and your partner through the necessary steps to protect each other from potential financial ruin in much the same way that federal laws help protect married couples.If you are one half of an unmarried couple, you owe it to you and your partner's financial future to read Money Without Matrimony .

Genres: Finance, Personal Finance, Nonfiction

288 pages, Paperback

First published June 1, 2005

Reviews

[Cherie · Rating 5 out of 5]

This book has been the MOST valuable book on cohabitation (more specifically, domestic partnership) that I have come across. It is exactly what I wanted in that it basically does a side-by-side comparison of all the financial and legal differences between marriage and domestic partnership. Even though it is nearly 15 years old, I actually ended up taking notes because there is so much valuable and translatable information that’s covered. I also love that this book is extremely progressive - not only covering your average 20 or 30-something heterosexual couple, but also senior couples, and same-sex couples.

The book lays out insurance, shared expenses and finances, shared possessions, retirement planning, end of life planning, children, breakup contingencies, and a lot more. It breaks down where planning may differ between different types of couples, gives loads of examples, and provides many other resources for continued research.

The best thing about this book is that it uses common language so you don’t need any expertise to understand what is being explained. My favorite part of the book is how it addresses hangups about domestic partnerships and domestic partnership agreements - basically saying they’re no less valuable than a traditional marriage and prenup.

I would love if this book got updated to cover today’s legal and economic state of things. If it ever is, I’ll be the first in line to buy a copy!

[Anne · Rating 5 out of 5]

I need to go out and buy this book, because I'm going to keep going back to it over and over again. Not only is it filled with practical information explained clearly, it's written in a judgment-free voice. It's just assumed that the reader has his or her reasons for not being married, and "can't" is just as valid as "won't." I'm hoping there's a newer edition in the works, since the laws are changing so rapidly.

[Megan · Rating 1 out of 5]

It’s really hard for me to recommend this to anyone, as it perpetuates some pretty big myths - if you marry someone with terrible credit, your good credit will NOT be affected. If you marry someone with lots of debt, it does NOT become attached to you and is therefore legally now your problem.

If you open a credit card in your name and your name alone, that’s your debt and yours alone.

With basics like that so off the mark, I have trouble taking the rest of it seriously.

[Erin · Rating 4 out of 5]

This book has a great set of recommendations for how to protect yourself and your loved ones when living with someone else (roommates, significant others, etc.). I found it exceedingly helpful and clearly written.

[Mary · Rating 5 out of 5]

This book is a MUST for unmarried couples (old, young, heterosexual, gay, those with children). Covers how to legally protect your and your partner's assets, children, etc. if you are not married.

[Laura Fingal-Surma · Rating 4 out of 5]

The text itself was at times repetitive but there's a lot to think about in here.

[Anne · Rating 3 out of 5]

I'm worried I might be accidentally common law married.

[Tim · Rating 2 out of 5]

Didn't really find it all that helpful, but I also didn't read the entire thing. For me, it's more helpful to discuss these things with someone knowledgeable.

[Allison]

Not a bad book, just not what I was really looking for.