A 73-year-old woman travelled across the Atlantic three years back to marry and live with his European husband, who is 76. She has a grandchild and grown-up children in the US from her previous marriage, who are financially well-off. The woman earns nearly twice his husband's pension because his ex-wives received a significant share. Given the higher income, she is fine covering most of their living expenses, enabling them to live a life doing the things they love. However, the man's decision to make his cousin's 10-year-old grandson the heir to the $1.8 million home the couple shares made her think if it is normal. In their 70s, the couple remains in exceptional health and expect to live another 15 years.
The Woman Has Already Decided To Share Apartment and Social Security With The Husband
The husband left the young heir his home, given that only he carries the family name forward. Meanwhile, the woman's estate is worth more than his, which she plans to pass on to her children, given her adequate wealth accumulated over the decades. Still, it bothered her that the partner bypassed her on the shared house despite leaving behind her old life and family and taking care of the bills. She told MarketWatch if they lived till they expected to, the young heir would be in his 20s by the time he inherited a fortune, which he wouldn't really require at that point in life. Her strong views could also be attributed to her allowing the husband to use one of her apartments lifelong, which he could rent out for income if she passes away first. Furthermore, she also decided to part with 50% of her Social Security benefits with him despite not being eligible for a widow's pension if he dies first.
Late Marriages Come With Their Own Benefits and Problems
Getting married late in life can save both partners money if either of them is enrolled in an employer-based health insurance plan. While you get to split costs and reduce expenses by living in one home rather than separately, couples can also jointly file tax returns in many US states to deduct double the amount than single filers. However, money problems can arise if a partner falls ill, given the steadily rising healthcare costs. Inheritance also becomes a point of friction, especially in this couple's situation, where the husband clearly wants the house to remain within the family.
The Husband's Decision Likely Won't Hurt The Woman In This Lifetime
The woman's courageous decision to move overseas away from her family at 70 and support his husband's lifestyle is a bigger sacrifice. Her financial decisions are also helping his husband save more, but it supports the lifestyle they both desire. It could be true that the husband would have saved much less if he had stayed single and covered all expenses himself. However, determining if the situation is beyond "normal" becomes difficult, given that they married very late. It is unlikely to hurt her financial stature despite parting with her Social Security, assuming she made money from rental apartments and her plans to move back to her family in the US if the husband passes away first. Still, they can change how they manage expenses, like slowly moving towards splitting bills equally. The couple could also change their property plans, like agreeing to offer each other's property for lifelong use if either of them passes away. Overall, they could focus on treating each other fairly by accepting each other's estate plans.