Often after the death of a spouse or a divorce, seniors find themselves in love again. But is marriage necessary?

For financial reasons, many older couples make the decision to live together, but not get married.

A partner who remarries stands to lose social security or a survivor’s pension. She (or he) may also lose alimony. If they have assets they are planning to leave to their children or grandchildren, a marriage could create legal problems for their heirs. Also there are provisions in the tax code that sometimes force married couples to pay more than if they remained single.

Something else to consider is potential medical burdens. Under the law, married people are responsible for the debts of their spouses, so potential medical burdens could also be a problem.

Americans have long been retreating from marriage. While more people of all ages are living together, the fastest growth of unmarried couples is among seniors. You should always have a Pre-Prenuptial if you are planning to live with someone to protect your assets. This is different from a Prenuptial Agreement, which is used to protect marital assets in case of divorce or death—but it is very important to have. The agreement should specify who is responsible for expenses and who will inherit specific assets. The agreement should protect both partners.

You may also want to have health proxies, giving each the right to make medical decisions for each other in case of an emergency when a family member can’t be contacted. This is also very important.