It is always a good idea to create an estate plan, no matter your financial circumstances or means. However, if you are currently unmarried, though your significant other is your life partner, you must draft an estate plan to ensure you retain at least some of the benefits inherently granted to married couples.
Married couples have access to Social Security benefits, joint tax filing, hospital visits, and more. Unfortunately, these benefits are not all automatic, even if you cohabitate with one another and are life partners. If you would like to know more about what drafting an estate plan can do for you, read on and reach out to our experienced firm about your legal options going forward:
What is a Durable Power of Attorney?
A Durable Power of Attorney essentially allows your partner to make certain key life decisions for you, should you ever become unable to handle these affairs on your own. For example, many people create powers of attorney to give their loved one the right to make crucial medical care decisions for them if incapacitated. Additionally, many people establish powers of attorney for their loved one to handle their financial affairs, should they become unable. Lastly, you may appoint your partner as your healthcare proxy in an Advance Directing for Health Care, which puts your partner in charge of life-or-death medical decisions, should one arise.
Should I create a digital estate plan?
You should absolutely begin reviewing and documenting all your digital assets if you have not already. These assets can include online accounts, iPads, tablets, intellectual property, login information, and more. To ensure you include all your assets in your digital estate, ask our knowledgeable firm for assistance. We are happy to help.
What should I include in a letter of instruction?
Your letter of instruction is where you list any information you think your significant other would need to know regarding the access to, and distribution of, your assets upon your passing. For instance, you may seek to tell your partner the combination to the safe, or tell your partner where certain assets or located. The truth is, you can address a wide array of issues in this letter, which is why it’s so important you draft one.
Contact our experienced California firm
Working with an experienced estate planning attorney, such as Jaci Feldman of the Woodland Hills, California, Law Office of Yacoba Ann Feldman, will ensure that you are taken care of when you need it most. Do not delay. Estate planning is a more urgent matter than you may think. You never know what the future holds. Contact The Law Offices of Yacoba Ann Feldman to schedule a consultation today.