Over the past few decades, relationships have changed in big ways. In 1970, nearly 7 out of 10 adults were married—today, that number is closer to 5 out of 101. More couples are choosing to live together without marrying, with cohabitation rising from just 1% in 1970 to nearly 9% at its peak in recent years2. The rise in cohabitation is particularly evident among younger adults, with 78% of those under 30 viewing it as acceptable even without plans to marry3.
These relationships can include both same-sex and opposite-sex partners and can span every stage of life. For example:
- An elderly couple, both widowed, may live together to share companionship while preserving pension or Social Security benefits.
- A younger couple may raise children together, share finances, and own property, but choose not to marry for personal or philosophical reasons.
- A same-sex couple may continue to cherish their long-standing domestic partnership as a meaningful symbol of commitment and shared history, even after marriage equality.
As a family member, you may see how committed your loved one’s relationship is—but what you may not know is that domestic partnerships don’t carry the same protections as marriage. In fact, married couples are granted access to over 1,100 federal laws and benefits that domestic partners are typically excluded from. And that gap can have serious consequences for your loved one’s financial security and legacy.
The Biggest Risk: Inheritance and Asset Protection
Unlike marriage, domestic partnerships don’t automatically grant inheritance rights. If your loved one passes away without a will or estate plan, their partner may not inherit the home, savings, or possessions they built together—even if they’ve shared a life for decades. Instead, state laws typically prioritize biological relatives.
That can mean:
- The surviving partner may be forced to leave the home they lived in.
- Family members inherit property or assets by default, unintentionally leaving the partner with nothing.
- Long-standing wishes expressed verbally aren’t legally recognized.
How Families Can Help
As a relative, you can play an important role in encouraging your loved one to take protective steps:
- Create a will or trust to make sure assets go where they’re intended.
- Set up beneficiary designations for bank accounts, retirement plans, and insurance policies.
- Establish a durable power of attorney and healthcare directive so medical and financial decisions are honored.
- Clarify parental rights if children are involved, since domestic partners don’t automatically share custody rights.
Supporting your loved one in making these decisions can prevent confusion and conflict later—and provide clarity for everyone involved.
Why It Matters for Families
Domestic partnerships can be loving, stable, and deeply committed, even without the title of marriage. But because they don’t automatically provide the same legal safeguards, a little extra planning is often needed. By helping your loved one take these steps, you can give them reassurance knowing their wishes will be honored and their partner will be cared for.
Sources:
- U.S. Census Bureau. “Families and Living Arrangements: 2022.” U.S. Census Bureau, 24 Sept. 2024, https://www.census.gov/newsroom/press-releases/2024/families-living-arrangements.html.
- Wharton Budget Model. “Change in American Families: Favoring Cohabitation over Marriage.” University of Pennsylvania Budget Model, 19 Feb. 2025, https://budgetmodel.wharton.upenn.edu/issues/2025/2/19/change-in-american-families-favoring-cohabitation-over-marriage.
- Pew Research Center. “Key Findings on Marriage and Cohabitation in the U.S.” Pew Research Center, 6 Nov. 2019, www.pewresearch.org/short-reads/2019/11/06/key-findings-on-marriage-and-cohabitation-in-the-u-s/.
Any opinions are those of Anna O’Shea and not necessarily those of Raymond James. While we are familiar with the provisions of the issues presented herein, as Financial Advisors of RJFS, we are not qualified to render advice on legal matters. You should discuss legal matters with the appropriate professional.
