Ah, love after 60. It’s like a fine wine—aged, complex, and hopefully free of unnecessary legal headaches. But if you’re wealthy and considering moving in with your sweetheart in the Grand Canyon State, you might want to do a little legal tango first. Enter: the cohabitation agreement, the prenup’s laid-back cousin.

What’s a Cohabitation Agreement, Anyway?

For the uninitiated, a cohabitation agreement is a legally binding document between two lovebirds who shack up together but don’t plan on getting legally hitched. Think of it as an insurance policy for your love nest—minus the pesky “till death do us part” bit.

Unlike marriage, where state laws generously step in to divvy up assets and debts should things go south, cohabitation offers no such safety net. If you split, you could be facing a situation where your partner walks away with half of your prized golf club collection, your favorite art collection, and—heaven forbid—your beloved Labrador, Mr. Whiskers. (Yes, you named him ironically.)

Why It’s a Must for High-Net-Worth Couples

Let’s face it: At 60-plus, you’ve likely spent decades building your wealth. Maybe you have kids, grandkids, or a thriving cactus collection. The last thing you want is financial uncertainty due to a breakup.

Without a cohabitation agreement, a long-term partner could claim financial support, argue for a stake in shared property, or even battle over joint investments. Arizona doesn’t recognize common-law marriage, but that doesn’t mean your assets are immune from legal drama. A solid agreement spells out who owns what, who gets what, and—just as crucially—who doesn’t get what.

What to Include in Your Agreement (Besides a Sense of Humor)

1. Property Ownership: If you buy a house together, outline who owns what percentage. If one person is footing the bill, clarify that too. No “but we both picked out the curtains” arguments here.
2. Expenses & Bills: Are you splitting the mortgage and utilities? Will one person cover groceries while the other funds extravagant dinner dates at that steakhouse you both love? Get it in writing.
3. Debt Responsibilities: If one partner has a penchant for online shopping or questionable investment schemes, make sure you’re not on the hook for their bad habits.
4. Estate Planning & Inheritance: If you want your assets to go to your children instead of your live-in honey, make sure your will, trust, and cohabitation agreement align. A good estate plan works hand-in-hand with this agreement.
5. Pet Custody: Because we all know that the real heartbreak in any breakup is deciding who gets to keep the dog. Or the cat. Or the prized koi fish. (Hey, no judgment.)
6. Living Arrangements & Breaking Up: Even though we don’t want to think about it, break ups can happen.  In the unlikely scenario your relationship doesn’t last, it could be helpful to identify how that happens: who has to give notice? When does the other party need to move out?  Does one party help the other party with moving expenses?  Or even monthly payments to assist with that party’s transition?

The Romance Factor

Now, I know what you’re thinking. “Wow, nothing says ‘I love you’ like signing legal paperwork.” But here’s the thing—cohabitation agreements are actually a grand gesture of respect. They show that you value transparency, fairness, and each other’s financial well-being. Plus, nothing kills a love story faster than an ugly legal battle over the vacation home in Sedona.

Final Thoughts: Is It Worth It?

In a word? Absolutely. If you’re over 60, financially comfortable, and ready to cohabit, getting a legally sound cohabitation agreement in Arizona is one of the smartest moves you can make. It helps preserve your assets, prevents disputes, and—best of all—keeps your relationship focused on love rather than legal limbo.

So, before you move in with your silver-haired soulmate, have an honest chat about a cohabitation agreement. It may not be the most romantic conversation, but neither is arguing over who gets to keep the espresso machine. And if all goes well, you’ll never need to use it—just like that extended warranty you always forget about.