Subscribe to Guide
No Result
View All Result
Hamptons.com
  • Spotlight Magazine
  • Lifestyle
    • Featured
    • Entertainment
    • Arts
    • Community
    • Dining
    • Recreation
    • Trending
  • Events
    • Events Calendar
    • Post an Event
    • Gallery
  • Real Estate
    • Real Estate Features
    • Hamptons Real Estate Market Data
    • Search Real Estate
      • Open Houses
      • Search Sales
      • Search Rentals
    • Title Insurance
    • Happening In The Hamptons Podcast
  • Live Cameras
    • All Live Cameras
    • Live Weather Cams
    • Amagansett, Atlantic Avenue Beach
    • Bridgehampton, West Scott Cameron Beach
    • East Hampton Village, Main Beach
    • East Hampton Village, Main Street
    • East Hampton Village, Newtown Lane
    • Hampton Bays, Ponquogue Beach
    • Hampton Bays, Ponquogue Bridge
    • Hampton Bays, Shinnecock Fishing Dock
    • Hampton Bays, Tiana Beach
    • Long Island Aquarium | Coral Reef
    • Long Island Aquarium | Penguins
    • Long Island Aquarium | Shark Tank
    • Montauk, Downtown Circle
    • Montauk, Lars Simenson Skatepark
    • Montauk, Gin Beach & Inlet
    • Montauk, Sunset Beach & Inlet
    • Sagaponack, Sagg Main Beach
    • Sag Harbor, Foster Memorial Beach
    • Sag Harbor, Long Wharf Marina
    • Sag Harbor, Main Street (South)
    • Sag Harbor, Sag Harbor Bay
    • Sag Harbor, Windmill Beach & Bay
    • Shelter Island, South Ferry
    • Southampton, 39A to Montauk Hwy Merge
    • Southampton, Conscience Point Marina
    • Southampton Village, Coopers Beach
    • Southampton Village, Main Street (North)
    • Southampton Village, Main Street (Hildreths)
    • Westhampton Village, Main Street (East)
    • Westhampton Village, Rogers Beach
  • Public WiFi
    • Public WiFi Map
    • Public Wi-Fi Support
  • Spotlight Magazine
  • Lifestyle
    • Featured
    • Entertainment
    • Arts
    • Community
    • Dining
    • Recreation
    • Trending
  • Events
    • Events Calendar
    • Post an Event
    • Gallery
  • Real Estate
    • Real Estate Features
    • Hamptons Real Estate Market Data
    • Search Real Estate
      • Open Houses
      • Search Sales
      • Search Rentals
    • Title Insurance
    • Happening In The Hamptons Podcast
  • Live Cameras
    • All Live Cameras
    • Live Weather Cams
    • Amagansett, Atlantic Avenue Beach
    • Bridgehampton, West Scott Cameron Beach
    • East Hampton Village, Main Beach
    • East Hampton Village, Main Street
    • East Hampton Village, Newtown Lane
    • Hampton Bays, Ponquogue Beach
    • Hampton Bays, Ponquogue Bridge
    • Hampton Bays, Shinnecock Fishing Dock
    • Hampton Bays, Tiana Beach
    • Long Island Aquarium | Coral Reef
    • Long Island Aquarium | Penguins
    • Long Island Aquarium | Shark Tank
    • Montauk, Downtown Circle
    • Montauk, Lars Simenson Skatepark
    • Montauk, Gin Beach & Inlet
    • Montauk, Sunset Beach & Inlet
    • Sagaponack, Sagg Main Beach
    • Sag Harbor, Foster Memorial Beach
    • Sag Harbor, Long Wharf Marina
    • Sag Harbor, Main Street (South)
    • Sag Harbor, Sag Harbor Bay
    • Sag Harbor, Windmill Beach & Bay
    • Shelter Island, South Ferry
    • Southampton, 39A to Montauk Hwy Merge
    • Southampton, Conscience Point Marina
    • Southampton Village, Coopers Beach
    • Southampton Village, Main Street (North)
    • Southampton Village, Main Street (Hildreths)
    • Westhampton Village, Main Street (East)
    • Westhampton Village, Rogers Beach
  • Public WiFi
    • Public WiFi Map
    • Public Wi-Fi Support
No Result
View All Result
Hamptons.com
March 19, 2013

How Your Relationship Status May Affect Your Finances

Rocco A. Carrieroby Rocco A. Carriero
in Real Estate
Home Real Estate

Whether you said “I do” at the altar, entered a common law marriage, are in a domestic partnership or cohabit with your significant other, the laws about your financial rights and obligations vary by state, and sometimes even by city.

To understand how your relationships status and living situation impacts your legal rights and obligations, consider consulting with reputable financial, legal and tax professionals in your area. With that in mind, here are some important things you should know:

  • Only select states recognize common-law marriage. One of the most common myths about common-law marriage is that if you live with someone for a certain length of time— often believed to be seven years—you are considered married under the law. This is not true everywhere in the U.S. In the states that do allow common-law marriage the circumstances vary, as do the financial implications. If you think you may be eligible to enter a common-law marriage, do some research to see if it applies to you in your state and what the implications may be.

  • Since most states don’t recognize the rights of unmarried couples that cohabit, many couples enter cohabitation agreements. Designed to protect couples from an unfair distribution of assets and property, these agreements describe individual financial and household responsibilities and assign debt to one or both individuals. They are also becoming increasingly popular among cohabitating elderly couples who want to define their financial responsibilities for their partner’s medical care and other expenses.

  • If you live in a common-law marriage state and don’t want to be legally married, document your intentions. Meet with your lawyer to create a written record of your desire to remain independent from each other. If you don’t take this step and your living situation meets your state requirements for common-law marriage, you are considered legally married in every way. For example, if your relationship ends, you are required to get a divorce. Or if one of you dies, your assets automatically pass to the other.

  • Domestic partnerships may occur between same-sex or opposite sex couples. Again, the definitions and rights vary by state or even by cities within a state. Even if your state doesn’t recognize domestic partnerships, your city may have ordinances that allow domestic partners who meet certain criteria the opportunity to secure voluntary employer benefits and a limited form of legal recognition to protect their families.

    Once you become familiar with your legal rights and obligations as an unmarried couple, you can take steps to financially protect yourself—and your partner. Start by discussing:

  • Whether your assets will be shared or separate: Couples who live together face financial vulnerabilities that married couples do not when it comes to shared checking accounts, credits cards and other investments. Often it’s easiest—and smartest—to keep your assets separate and split bills and other joint expenses down the middle. But regardless of how you choose to manage your finances, documenting your decisions with a written legal agreement is the best way to protect yourself—and your credit score – if the relationship doesn’t stand the test of time.

  • Who will pay for property purchased together: Before you buy a home, decide if you will be joint tenants in which ownership is equally shared or tenants in common in which you each have a distinct percentage of ownership. Unlike joint tenancy, if your co-owner dies, you don’t have rights to their share of the property. Instead, their share becomes part of their estate and their will or state intestacy laws will determine how it’s distributed. Also consider who owns what when making other big purchases together like a vehicle or small business.

  • Who will inherit assets in the event of death: As an unmarried couple, your assets don’t automatically pass to your partner in the event of your death. If you have assets you want your partner to inherit, properly document your intentions in writing to help ensure your wishes are carried out. If you don’t, state and federal laws will dictate who gets what— and typically it’s your next of kin or your estate. Also, if your significant other is the desired recipient of your retirement funds and life insurance policies, be sure to list him or her as the beneficiary. Keep in mind that your beneficiary designations override the directives of your will, so it’s critical to keep them current.

    Again, since the legalities governing marriage, common-law marriage, cohabitating and domestic partnerships are complex and vary by state, please consult reputable legal, tax and financial professionals in your area for more information on how to protect yourself, your significant other and your assets.

  • Sign up for our weekly newsletter!

    Get the top Hamptons events and latest scoop!

    What's Happening in the Hamptons

    Related Posts

    Big Voices, Small Stage: The Soho Sessions Returns to Amagansett with Maren Morris and Yola
    Real Estate

    Exploring Hampton Bays with Vincent Pescatore

    August 22, 2025
    Veteran Hamptons Agents Jennifer Brew and Charlotte Sasso Join Saunders & Associates
    Real Estate

    Veteran Hamptons Agents Jennifer Brew and Charlotte Sasso Join Saunders & Associates

    August 22, 2025
    Hamptons Real Estate Market Data – Week of 8/12/2025
    Real Estate

    Hamptons Real Estate Market Data – Week of 8/12/2025

    August 23, 2025

    Search Articles

    No Result
    View All Result

    LOCAL EVENTS

    Events

    25
    Aug
    25
    Aug
    -
    25
    Aug

    Hampton Jazzfest & LTV Studios Present Bill O’Connell

    August 25 @ 06:00 PM - August 25 @ 08:00 PM
    LTV Studios 75 Industrial Road Wainscott, NY, 11975
    25
    Aug
    25
    Aug
    -
    25
    Aug

    Hamptons Jazzfest & LTV Studios Present: The McIver Piano Jazz Series

    August 25 @ 06:00 PM - August 25 @ 08:00 PM
    75 Industrial Road, Wainscott, NY, 11975
    25
    Aug
    25
    Aug
    -
    25
    Aug

    The Perlman Music Program Alumni Octet

    August 25 @ 06:00 PM - August 25 @ 07:00 PM
    Jewish Center of the Hamptons, 44 Woods Lane, East Hampton, NY 11937
    25
    Aug
    25
    Aug
    -
    25
    Aug

    The Center at West Park Presents One-Night-Only Staged Reading of All the President’s Men

    August 25 @ 07:00 PM - August 25 @ 10:00 PM
    Guild Hall, 158 Main Street, East Hampton, NY 11937
    25
    Aug
    25
    Aug
    -
    25
    Aug

    A Miserable Evening with Jackie Hoffman at Bay Street Theater

    August 25 @ 08:00 PM - August 25 @ 10:00 PM
    Bay Street Theater
    Load more listings
    Next Post
    Volunteers Needed For Construction Of Iron Point Playground In Flanders

    Volunteers Needed For Construction Of Iron Point Playground In Flanders

    • @wagsandwalks @themontaukbeachhouse 

Puppies + Pilates + @montaukila = The Perfect Day

Check out our Events Calendar for more events! (link in bio)

#wagsandwalks #animaladoption #adoptdontshop❤️ #dog #montauk #montaukbeachhouse #montaukila #pilates
    • Check out the Top Hamptons Events This Weekend! ⁠
⁠
✨ 50th Annual Hampton Classic Horse Show⁠
📅 Sun, Aug 24 – Sun, Aug 31, 2025 | 8am–5pm⁠
📍 240 Snake Hollow Rd, Bridgehampton, NY⁠
🐴 One of the largest outdoor horse shows in the U.S., a premier summer destination for competitors & spectators.⁠
⁠
⁠
🎶 Apollo in the Hamptons⁠
📅 Fri, Aug 22, 2025 | 6pm⁠
📍 Si Si, 295 Three Mile Harbor Hog Creek Rd, East Hampton, NY⁠
Experience the essence of the legendary Apollo Theater with DJ Cassidy, Doug E. Fresh & more!⁠
⁠
⁠
🦈 50th Anniversary of JAWS Celebration – Montauk⁠
📅 Sun, Aug 24, 2025 | 12pm–7pm⁠
📍 Shark Bar Montauk, 2167 Montauk Hwy⁠
Screening, live music with Molly Scheider, themed cocktails, shark merch 🦈 — all to benefit Hayground School.⁠
⁠
⁠
😂 Chelsea Handler at WHBPAC⁠
📅 Fri, Aug 22, 2025 | 8pm⁠
📍 WHBPAC, 76 Main St, Westhampton Beach, NY⁠
A night of comedy with Chelsea Handler!⁠
⁠
⁠
🎵 The Knocks at Surf Lodge⁠
📅 Sat, Aug 23, 2025 | 4pm⁠
📍 The Surf Lodge, 183 Edgemere St, Montauk, NY⁠
The Knocks bring their signature groove to the Hamptons.⁠
⁠
⁠
🌅 Generation S.O.S – Live From Water Mill Fundraiser⁠
📅 Sun, Aug 24, 2025 | 5pm–8pm⁠
📍 Water Mill, NY⁠
Featuring Jason Biggs, Luke K, & MC Sophie Sumner.⁠
⁠
⁠
🇬🇷 Mykonos Nights at Calissa⁠
📅 Fri, Aug 22, 2025 | 10pm⁠
📍 Calissa, 1020 Montauk Hwy, Water Mill, NY⁠
End-of-summer vibes with DJs, drinks & dancing.⁠
⁠
⁠
👜🐶 Bark Jacobs by Marc Jacobs at The HUB⁠
📅 Sat, Aug 23, 2025 | 11am–7pm⁠
📍 The HUB, 2183 Montauk Hwy, Bridgehampton, NY⁠
Shop Marc Jacobs & get your pup’s portrait or initials hand-painted on your accessories.⁠
⁠
⁠
🐾 Wags & Walks’ Party Cruise⁠
📅 Sun, Aug 24, 2025 | 3pm–5pm⁠
📍 Easy Breeze Cruises, 462 W Lake Dr, Montauk, NY⁠
Cruise Montauk waters with cocktails & adoptable pups.⁠
⁠
⁠
🎨 5th Annual Celebrating Creatives of Color⁠
📅 Sat, Aug 23, 2025 | 11am–5pm⁠
📍 The Church, 48 Madison St, Sag Harbor, NY⁠
Showcasing artists & authors of color, with works available for sale.⁠
⁠
Check out more events at Hamptons.com (Link in Bio)⁠
.⁠
.⁠
#hamptons #weekend #hamptonsclassic #jaws #montauk #apollotheater⁠
    • The Southampton Animal Shelter Foundation held its “Sweet 16th” Unconditional Love Gala, a premier Hamptons event celebrating compassion, community, and animal welfare at a private estate in Bridgehampton. The Unconditional Love Gala is SASF’s largest fundraiser of the year, with proceeds directly supporting the shelter’s mission to provide care, rehabilitation, and forever homes for homeless animals. ⁠
⁠
Check out the full gallery at Hamptons.com (Link in Bio)⁠
.⁠
.⁠
.⁠
.⁠
#animalshelter ⁠
#fundraiser #hamptons #southampton
    • Make sure you check out the sunset music series before the end of August. For more info on dates and times check out the Wölffer website.

#sumsetmusic #winestand #wölffer #rosé
    • Hilary Matt Interiors is a residential design firm started and located in New York City with projects spanning across the country, including in the Hamptons and East End.⁠
⁠
Hilary, principal and founder, is known for a bold aesthetic that is comfortable and livable. She always keeps her clients at the forefront so they can express themselves as individuals through their spaces. After starting out in the fashion industry, Hilary felt a call to interior design where she has been bringing her unique approach and style to every space as the brand continues to grow.⁠
⁠
Hilary spoke more about her background, how each HMI project differs from one another, and why the Hamptons is such a special place to her. She also shared her top 5 interior design tips as inspiration.⁠
⁠
Can you discuss your background and how you got started with interior design?⁠
⁠
HM: I studied business and apparel merchandising. After graduating, my first job was at a women’s contemporary showroom in NYC. I had always loved fashion and wanted to be in the industry. After a year, I realized it wasn’t quite what I expected. I had always been interested in interior design, so I took a leap of faith and accepted a job as an assistant to an interior designer. I was initially nervous to leave fashion, but I figured I could always return. I ended up loving it and worked with her for eight years, learning the ins and outs of the business. I also took classes on weekends and evenings to learn computer programs, scaling, and other essential skills. After leaving that position and having my first son, I started my own company, which has snowballed into what we are today.⁠
⁠
⁠
Read the full interview at Hamptons.com (Link in Bio)⁠
.⁠
.⁠
.⁠
.⁠
#hilarymatt ⁠
#hilarymattinteriors ⁠
#hamptons ⁠
#interiordesigner⁠
#hamptons lifestyle⁠
#interiorstyling⁠
#design
    • Comedian Des Bishop took the stage at Westhampton Beach Performing Arts Center this week and delivered laugh after laugh. A native New Yorker, Des moved to Ireland in his teenage years, which ultimately inspired his start in comedy and a successful career that has spanned three decades.⁠
⁠
His comedy is full of observational humor and nostalgia, whether it be about his many cross-cultural experiences, an ever-changing societal landscape, and his own personal stories growing up. Des brings energy and a unique perspective to every show, evident at his Westhampton show, the place he has spent all his summers since the 90s.⁠
⁠
Des spoke more about his background, how his experiences have shaped his approach to comedy, his connection with the East End, and his WHBPAC show.⁠
⁠
Can you tell us a bit about your background and how you first got into comedy?⁠
⁠
DB: Well, my background is a little complicated, but the quick version is I grew up in Queens, flunked out of St. Francis Prep at 14, and ended up going to Ireland to boarding school in 1990. It was a crazy, life-changing experience, but it definitely saved my education and ultimately inspired a comedy career that in the early days focused a lot on being an outsider looking in. It’s hard to know if I ever would have tried stand-up if I hadn’t been in Ireland. I got sober at 19 and it was a comedian I knew from that world that pushed me to try stand up. Once I got on stage that was all she wrote. I was addicted.⁠
⁠
Read the full interview at Hamptons.com (Link in Bio)⁠
.⁠
.⁠
.⁠
.⁠
.⁠
#desbishop #comedy #westhampton #whbpac
    Facebook Twitter Instagram Youtube
    Hamptons.com

    Saunders Broadcasting Corp.

    Phone: 631-613-8440
    Email: [email protected]
    Facebook: Facebook.com/HamptonsOnline
    Twitter: @Hamptons
    Instagram: @HamptonsOnline

    About Us | Contact Us

    Hamptons.com

    • Lifestyle
    • Events
    • Real Estate
    • Live Cameras
    • Public WiFi

    Subscribe

    Sign up for our weekly newsletter!

    Get the top Hamptons events and latest scoop!

    © 2025 Hamptons.com | All rights reserved
    Saunders Broadcasting Corp.
    Terms & Conditions | Privacy Policy | About Us | Contact Us

    No Result
    View All Result
    • Spotlight Magazine
    • Lifestyle
      • Featured
      • Entertainment
      • Arts
      • Community
      • Dining
      • Recreation
      • Trending
    • Events
      • Events Calendar
      • Post an Event
      • Gallery
    • Real Estate
      • Real Estate Features
      • Hamptons Real Estate Market Data
      • Search Real Estate
        • Open Houses
        • Search Sales
        • Search Rentals
      • Title Insurance
      • Happening In The Hamptons Podcast
    • Live Cameras
      • All Live Cameras
      • Live Weather Cams
      • Amagansett, Atlantic Avenue Beach
      • Bridgehampton, West Scott Cameron Beach
      • East Hampton Village, Main Beach
      • East Hampton Village, Main Street
      • East Hampton Village, Newtown Lane
      • Hampton Bays, Ponquogue Beach
      • Hampton Bays, Ponquogue Bridge
      • Hampton Bays, Shinnecock Fishing Dock
      • Hampton Bays, Tiana Beach
      • Long Island Aquarium | Coral Reef
      • Long Island Aquarium | Penguins
      • Long Island Aquarium | Shark Tank
      • Montauk, Downtown Circle
      • Montauk, Lars Simenson Skatepark
      • Montauk, Gin Beach & Inlet
      • Montauk, Sunset Beach & Inlet
      • Sagaponack, Sagg Main Beach
      • Sag Harbor, Foster Memorial Beach
      • Sag Harbor, Long Wharf Marina
      • Sag Harbor, Main Street (South)
      • Sag Harbor, Sag Harbor Bay
      • Sag Harbor, Windmill Beach & Bay
      • Shelter Island, South Ferry
      • Southampton, 39A to Montauk Hwy Merge
      • Southampton, Conscience Point Marina
      • Southampton Village, Coopers Beach
      • Southampton Village, Main Street (North)
      • Southampton Village, Main Street (Hildreths)
      • Westhampton Village, Main Street (East)
      • Westhampton Village, Rogers Beach
    • Public WiFi
      • Public WiFi Map
      • Public Wi-Fi Support

    © 2025 Hamptons.com | All rights reserved
    Saunders Broadcasting Corp.
    Terms & Conditions | Privacy Policy | About Us | Contact Us