I can’t think of any cons to getting married at your respective ages, only pros! The only cons I could think of is if one of you is receiving disability benefits—those could cease once you marry, if one of you draws an income. Typically, this affects couples who are very poor. I’m assuming that you’re not very poor? So …
The pros:
Should your partner go into long-term care, you will be able to keep the house and not sell it. Anyone who receives government assistance must sell real property when they enter long-term care, unless the have a private plan, and these are very expensive; usually, they do not end up paying for everything. My mother was able to keep the house because she was my father’s wife; had they not been married, we would have had to sell it.
Your Social Security benefits will increase; also, if your partner has a pension, you “inherit” that as well. Uncommitted partners cannot receive these benefits, by law.
Most assets passed from spouse to spouse pass through fluidly, without the need for probate. Also, wills bequeathing property, money and other assets from one unmarried partner to another are easily contestable by family, should they choose to contest.
If you or your partner has a medical crisis, one of you will be the primary decision-maker. This could be a pro or a con, depending on if you love your partner. If you don’t want to be responsible for your partner in this circumstance, you definitely should not marry.
Say you both enter the same retirement home or assisted living facility. I cannot attest to all facilities, but generally speaking, only married couples can house together. So it is likely that the two of you would be separated, unless your families are willing to work together to make sure that you stay together at the same residence.
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