Estate Planning for Unmarried Couples
In these modern times a lot of couples are deciding to forego the traditional marriage route and opt out for a declaration of love and just decide to live together until death (or infidelity) do they part.
But even unmarried couples have the same estate planning goals as married ones do. No doubt each person wants to provide for the other immediately upon death. Or would want the other one to takeover for them financially should they become incapacitated. In most cases of course you can achieve this through a well thought out estate plan. However, not being married does make things a bit more complicated. You’ll need to specifically list all types of real property and assets, especially expensive ones, into the estate plan. Relatives of the deceased partner may be out there and want a piece of the estate. And the laws of intestacy will be on their side without a strong estate plan to shield your partner from them.
If you are in a relationship that you don’t want branded with a marriage stamp, it would be very wise to consult with a professional Estate Planning Lawyer as there are many legal documents and agreements that will need to be drawn up in order to protect your assets from being distributed to anyone other than your partner.
*This blog entry was not written by an Attorney and should not be constituted as professional legal advice.