Does An Unmarried Person Need an Estate Plan?

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Some unmarried people think that they do not need an estate plan, but there are actually many good reasons for them to make a will and take advantage of other estate planning tools. A Woodland Hills will attorney from our firm can help you figure out what kind of estate plan you should make and tell you more about how you can benefit from having a will. Read on, and then think about scheduling a meeting with our legal team.

Why Should an Unmarried Person Write a Will?

If you pass away without a will, it is said that you died “intestate.” This means that your family has to go through the probate process in order to get your assets. The probate court will decide where your money, properties, and other belongings end up.

This can be a problem for anyone, but it can be especially difficult for an unmarried person’s family to deal with. This is because the court might not recognize their partner as someone who should get top priority for receiving their assets. A will can allow you to leave your assets behind for your partner, even if you are unmarried.

A will also lets you choose a guardian for your children. If you do not have a will, then you are leaving this issue up to the courts. This can potentially lead to a custody dispute, lots of stress, and potential heartbreak for some of your loved ones.

Can an Unmarried Person Set Up a Trust?

You can set up a trust actually. This is a great option for unmarried people who have a significant amount of assets to pass down. A trust is more complicated than a will, but our estate planning lawyers can help you find the right kind of trust, set it up correctly, and choose a trustee to manage your estate.

A trust can help you avoid the probate process. It can also make the transfer of property a bit more private. These can often be good enough reasons to do the extra work that setting up a trust involves.

What Else Should You Do When Making a Will?

When making a will an unmarried person can also choose who gets their power of attorney, which means that they can make decisions on your behalf when you are no longer capable of doing so. There is a financial power of attorney and healthcare power of attorney. One person can take on both responsibilities or you can give the roles to two different people.

You can also write a health care directive that outlines your wishes for end-of-life care. You can leave instructions about what kinds of treatments you would want, if you would want to be left alive on life support, and more.

Contact Our Attorneys

When you are ready to make an estate plan of your own, contact the Law Offices of Yacoba Ann Feldman. Our experienced attorneys have helped plenty of unmarried clients create an estate plan that gives them and their loved ones peace of mind. Let’s get to work today.

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