Why It Is Important for Unmarried Couples to Do Estate Planning
A marriage certificate is not what makes you and your partner a couple. People who find love late in life often do so with the wisdom to know what they want from a relationship and which aspects of their previous relationships they do not want to repeat. You might have any of several reasons for not wanting to get married again. Perhaps you were widowed after a long, happy marriage, and your refusal to marry your new partner is your way of showing yourself and your children that no one will ever take your late spouse’s place in your life. Whether your previous marriage ended in divorce or with the death of your former spouse, you might have suffered constantly from conflict with your spouse’s relatives, and your refusal to marry your new partner might be a refusal to repeat the experience of in-law conflict. Despite your decision not to get legally married, you love your partner, and you want to provide financial stability for your partner even after you are gone. Therefore, the golden rule of estate planning applies to you and your partner as much as it does to anyone else, namely that if there is anyone in the world that you care about, you need an estate plan. For help building an estate plan that will provide financial stability for your unmarried domestic partner, contact a Dade City estate planning lawyer.
Make Your Succession Plan Official, Even If You Do Not Make Your Marriage Official
In your estate plan, you are the boss. Your estate planning documents are legally binding, and they can privilege whoever you choose. These are some ways that your estate planning documents can cement your life partner’s esteemed place in your life, even if you are not legally married:
- Your medical advance directive can designate your partner to communicate medical decisions on your behalf
- You can draft a power of attorney authorizing your partner to make financial transactions with your property
- You can own your house and other assets jointly with your partner
- Your partner can be a beneficiary of your will, the personal representative of your will, or both
- If you establish a trust, your partner can be a trustee or a beneficiary
- You can list your partner as a beneficiary of non-probate assets such as life insurance policies or transfer on death (TOD) bank accounts
If you do not do these things, then the probate court will treat your partner as a stranger. One of the worst possible outcomes is if you don’t write a will, and, according to the laws of intestate succession, your children or siblings inherit your house. They don’t like your partner, so they kick her out, despite the fact that she has lived there with you for more than a decade.
Contact a Florida Estate Planning Attorney About Estate Planning for Unmarried Couples
An estate planning attorney can help you revise your will so that your unmarried domestic partner will continue to get emotional and financial support from you after you are gone. Contact The Law Office of Laurie R. Chane in Dade City, Florida to discuss your case.
Source:
leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0700-0799/0732/0732.html
