Estate Planning With Unmarried Partners

1. Call for a FREE Consultation 661-402-8534 Home About Estate Planning Business Law Testimonials Seminar Blog Contact Home Home > > Blog Blog > > Estate Planning With Unmarried Partners Estate Planning With Unmarried Partners March 20Estate Planning With Unmarried Partners 27 Request a Free Consultation First Name * First Name * It’s more common nowadays for couples to pair off without actually getting married. But It’s more common nowadays for couples to pair off without actually getting married. But marriage allows couples a streamlined approach to distributing their assets when they marriage allows couples a streamlined approach to distributing their assets when they die. Those who are married may not even need a specific estate plan in place. Their die. Those who are married may not even need a specific estate plan in place. Their assets would simply go to their spouse. Estate planning with unmarried partners, on the assets would simply go to their spouse. Estate planning with unmarried partners, on the other hand, can be a little trickier. In this article, we’ll take a look at estate planning for other hand, can be a little trickier. In this article, we’ll take a look at estate planning for unmarried partners. unmarried partners. First Last Name * Last Name * Last Email * Email * Phone Phone Estate Planning Matters More to Unmarried Partners Message Message Those who don’t prepare an estate plan have no control over how their assets are Those who don’t prepare an estate plan have no control over how their assets are distributed. When you die without a will, your assets are distributed according to what is distributed. When you die without a will, your assets are distributed according to what is called intestate succession. Typically, most of your assets will pass to a current spouse called intestate succession. Typically, most of your assets will pass to a current spouse while the rest of your assets will be distributed to your children, parents, siblings, or while the rest of your assets will be distributed to your children, parents, siblings, or whoever else is a blood relative. whoever else is a blood relative.    

2. Additionally, those who want to assign a health care proxy or a financial power of Additionally, those who want to assign a health care proxy or a financial power of attorney to someone close to them will need to specify this if they are unmarried. attorney to someone close to them will need to specify this if they are unmarried. I'm not a robot reCAPTCHA Privacy - Terms     SUBMIT For those who aren’t married, there is an absence in the law to effectively provide for For those who aren’t married, there is an absence in the law to effectively provide for life partners creates a problem. They require more detailed estate plans to ensure that life partners creates a problem. They require more detailed estate plans to ensure that their partners are adequately provided for. their partners are adequately provided for.     Archives This can be accomplished by drafting a legally valid will.  This can be accomplished by drafting a legally valid will.      March 2020 March 2020 While estate plans for unmarried couples are not significantly different than estate While estate plans for unmarried couples are not significantly different than estate plans for married couples, it is more important that an unmarried couple has an estate plans for married couples, it is more important that an unmarried couple has an estate plan in place since the default means of distributing assets do not necessarily plan in place since the default means of distributing assets do not necessarily accommodate unmarried couples. accommodate unmarried couples. February 2020 February 2020 December 2019 December 2019 November 2019 November 2019 Owning Assets Together October 2019 October 2019 September 2019 September 2019 One of the ways to ensure that certain assets pass directly to your life partner is by One of the ways to ensure that certain assets pass directly to your life partner is by owning these assets together. Of course, this won’t necessarily work for all assets, but owning these assets together. Of course, this won’t necessarily work for all assets, but large assets like real estate, vehicles, and certain luxury items can be owned together. large assets like real estate, vehicles, and certain luxury items can be owned together. Additionally, trusts can be set up for your spouse or dependants that are made payable Additionally, trusts can be set up for your spouse or dependants that are made payable directly upon your death. directly upon your death. August 2019 August 2019 July 2019 July 2019 June 2019 June 2019 April 2019 April 2019     March 2019 March 2019 You will need to put both of your names on the official title. But owning assets together You will need to put both of your names on the official title. But owning assets together is a great way to ensure those assets pass automatically to your loved one. If you or your is a great way to ensure those assets pass automatically to your loved one. If you or your partner brought a home into the partnership, you can re-title it to avoid probate. partner brought a home into the partnership, you can re-title it to avoid probate. February 2019 February 2019 January 2019 January 2019 December 2018 December 2018 Designating Beneficiaries for Bank Accounts and More November 2018 November 2018 February 2016 February 2016 Just because your life partner lives with you doesn’t mean that they’ll necessarily want Just because your life partner lives with you doesn’t mean that they’ll necessarily want to share ownership of all your assets. You may have separate bank accounts and a joint to share ownership of all your assets. You may have separate bank accounts and a joint bank account. Retirement accounts can’t always be shared. You’ll need another way to bank account. Retirement accounts can’t always be shared. You’ll need another way to ensure that these assets make it directly to your partner if you should die. ensure that these assets make it directly to your partner if you should die. What Our Clients Say Bank accounts, investment accounts, and retirement accounts can be assigned Bank accounts, investment accounts, and retirement accounts can be assigned beneficiaries in the event of your death. They would not pass through your will. You beneficiaries in the event of your death. They would not pass through your will. You simply need to designate a beneficiary by requesting a beneficiary designation form simply need to designate a beneficiary by requesting a beneficiary designation form from the account’s custodian. In the case of a bank account, you would ask the bank for from the account’s custodian. In the case of a bank account, you would ask the bank for the form to assign a beneficiary. the form to assign a beneficiary. Friendly and professional. ~ Tomas and Mary C., Lancaster Living Wills and Durable Power of Attorney You will need documents for assigning durable power of attorney to your partner. This You will need documents for assigning durable power of attorney to your partner. This includes the ability to make health care decisions on your behalf as well as the ability to includes the ability to make health care decisions on your behalf as well as the ability to manage your finances if you should remain alive but unable to do so yourself. manage your finances if you should remain alive but unable to do so yourself. Talk to an Attorney Concerning Your Estate Plan If you have any questions concerning estate planning with unmarried partners, call the If you have any questions concerning estate planning with unmarried partners, call the California estate planning attorneys at  California estate planning attorneys at Herbert Law Office Herbert Law Office today to learn more about how we can help.  how we can help.   today to learn more about    

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