Many people do not realize, but they can, and should, create an estate plan, even if they are unmarried. Estate planning is important, regardless of your marital status. If you are in a relationship, you and your partner can still create an estate plan together in order to secure your future. Read on to learn more about estate planning as an unmarried couple.
Can I Create an Estate Plan With My Partner if we are Not Married?
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. As a result, it is important to create an estate plan, which may allow you access to some of these benefits, even if you are not married.
What is a Durable Power of Attorney?
One of the most important documents to create is a Durable Power of Attorney. By creating this document, you can give your partner the ability to handle certain aspects of your life, in the event that you become unable. Many people establish powers of attorney so that their loved ones to handle their financial affairs. Additionally, 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.
What is a Letter of Instruction?
Another document you may want to create is a letter of instruction. This 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. You can address a wide array of issues in this letter, which is why it’s so important you draft one.
If you and your partner are not married, but you still wish to create an estate plan together, it is important to reach out to an experienced attorney. Our firm is here to walk you through the estate planning process and ensure that your future is secure. Contact our firm to speak with a skilled estate planning attorney.
Contact our Firm
Working with an experienced estate planning attorney, such as Jaci Feldman of the Woodland Hills, California, Law Offices 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.