More Cautionary Measures for Un-Married Couples

You may be one half of a couple and you may not be married. If that is the case, you might want to take some measures to make sure that you stay financially solvent if ever things do not work out for the better. There has been a study that showed that married couples are more likely to plan out their finances than those couples who are not married. That is a bad move for un-married couples since everyone has to be vigilant about their finances especially in times like these. No one can afford to be lax anymore and you might argue that you trust your partner and that is brilliant. But that is no excuse to be lax when it comes to your financial future. Below are some financial situations that you might want to know about in case you are one half of an un-married couple.


First thing you should do is keep your personal checking account separate from an account that you use to draw cash for common expenses from. You could also avoid being joint investors in any big assets like a yacht, or a car or maybe even just a tiny cottage. It might be a small cottage but the cost may not be small at all. If you do insist on buying joint assets, make sure you sign your name as a joint owner along with your partner's name.


As your relationship matures and your assets and incomes grow along with it, you could consider hiring a family lawyer to help you figure out what to do with your assets and how they will be divided in the unfortunate event that your relationship comes to an end. This is a very real possibility and you cannot let romance cloud your judgment. There are even some people who become so dependent on their partners financially that they become financially insolvent if the relationship ends. If you have a partner that convinces you to quit your job with promises that you will be taken care of, make sure you make your partner sign a legal document that reinforces that promise.