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Covestor Radio, EPN News, Investing, Retirement

Covestor Radio – Money Milestone: 3 Financial Questions to Ask Before Cohabitating

Posted: April 15, 2015 at 9:37 pm   /   by   /   comments (0)


Kimberly Clouse, Covestor’s Chief Client Advocate and Advisory Board Chair again joins Covestor Radio (Episode #30) to discuss the Money Milestone of moving in with someone.

Covestor Radio is a show about money milestones and investing for your future and brought to you by Covestor, an online marketplace for investing.

Listen to host Eric Dye & guest Kimberly Clouse discuss the following:

  • My impression is that the number of people living together is increasing; is that true?
  • What are some of the special considerations for couples who live together?
  • What are your thoughts regarding managing household expenses?
  • What about best practices for making a big purchase, like buying a home?
  • You mentioned earlier that living together is even more popular in the over 50 crowd.  Any special estate planning considerations for this group?

TIP: Given the complexity of — and nuances related to — a financial partnership between an unmarried couple, creating a legal agreement between the parties is probably wise. This domestic partnership agreement details each partner’s financial responsibilities and obligations in case of a “divorce” or death.

Some examples: Does the partner with a substantial income agree to pay a certain amount of maintenance to his partner for a specific period of time in the event of a breakup? Who lives in the jointly owned house after a breakup?

It is important to hire an attorney to draft this agreement as the laws that related to unmarried couples differ from state to state.

About Kimberly Clouse

Kimberly Clouse is Advisory Board Chair at Covestor, a registered investment adviser and an online marketplace for investing.

Passionate about empowering financial consumers, Kimberly works with individuals, families and foundations to help them navigate the increasingly complex world of investment advice and make more informed financial decisions.

She previously served as Managing Director at Athena Capital Advisors and Chief Executive Officer at Hale and Dorr Wealth Advisors. Earlier in her career, she worked for United States Trust Company, J.P. Morgan and Goldman Sachs.



Note: All opinions included in this radio episode are as of [March 26, 2015] and are subject to change. The opinions and views expressed herein are of Kimberly Clouse. All investments involve risk, the amount of which may vary significantly.

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