Love, Money, and the Law: The Conversations Couples Avoid

By: Austin Warehime

Love and Money

February tends to focus on relationships. It is the month of Valentine’s Day! Cards, dinners, and thoughtful gestures get attention this time of year. What rarely gets attention are the practical conversations that matter just as much over the long term — conversations about money, property, and legal expectations. This column is going to give you a “quick hits” of legal issues to think about in your relationships.

In my experience, most legal problems between couples do not start with conflict. They start with assumptions. In many cases, both people believe they are on the same page. It is only later — sometimes years later — that they discover they were not.

One of the most common misunderstandings involves joint bank accounts. Many couples assume that adding a spouse or partner to an account is simply a matter of convenience. Sometimes it is. But legally, joint ownership can mean full ownership rights for both parties. It may also affect what happens to those funds if one person dies, becomes incapacitated, or faces creditors. What feels like a simple administrative step can have long-term consequences that were never discussed.

Property raises similar issues. In our region, land and homes often carry emotional and generational significance. Adding a spouse or partner to a deed may feel like the natural thing to do. However, the way property is titled can determine what happens in the event of death, divorce, debt, or disagreement. Once ownership is changed, reversing it is not always simple. Before altering a deed, it is worth understanding exactly what rights are being created.

Unmarried couples face a different set of risks. Many people assume that living together for a certain number of years creates legal protections similar to marriage. In Ohio, that assumption can be dangerous. Cohabitation alone does not automatically provide inheritance rights, property protections, or decision-making authority in a medical emergency. Without proper planning, a long-term partner may have far fewer legal rights than expected.

Second marriages and blended families require even more clarity. It is common for individuals to want to provide for a current spouse while also protecting children from a prior relationship. Without clear planning, those goals can unintentionally conflict. A surviving spouse may have rights that override informal promises made to children. Conversely, outdated estate documents may leave a current spouse in a vulnerable position. These situations are rarely the result of bad intentions. They are the result of plans that were never updated to reflect new realities.

Beneficiary designations are another overlooked issue. After a remarriage, people often update their wills but forget to change life insurance policies, retirement accounts, or payable-on-death designations. Those forms typically control who receives the asset, regardless of what a will says. An outdated beneficiary form can undo careful planning in an instant.

Couples who own businesses together face additional complexity. Whether it is a small contracting company, a farm operation, or a family-run storefront, ownership structure matters. Are both spouses equal owners? What happens if one becomes unable to work? Is there a written agreement addressing succession, disability, or sale? Many small businesses begin informally and operate on trust. That trust is valuable, but written clarity protects both the business and the relationship.

None of these topics are especially romantic. That may be why they are often postponed. Yet avoiding the conversation does not eliminate the risk. In fact, silence tends to magnify it.

The goal is not to anticipate divorce or conflict. It is to reduce uncertainty. Clarity is kindness. And we should all strive to be kind to those we love. A short, practical discussion about accounts, property, beneficiaries, and expectations can prevent confusion later. In many cases, couples discover they are largely aligned but had simply never discussed the details.

February is a reminder that relationships deserve attention. Flowers and dinners are one way to show that. Honest conversations about money and legal planning are another. While they may not be traditional romantic topics, they are often the ones that protect a family’s stability the most.

Good planning is not about mistrust. It is about clarity. And clarity is one of the strongest foundations any relationship can have.