Marriage is not for everyone. If you and your partner would like to ensure that your hard-earned and cherished assets are put in good hands after your passing, it is important to build an estate plan. In California, there are many options for estate planning for unmarried couples. If you are considering an estate plan with your partner, contact our experienced California estate planning attorneys at The Law Offices of Yacoba Ann Feldman today to get started.
What are the benefits of creating an estate plan with my partner if we are not married?
Married couples have access to various benefits like Social Security, joint tax filing, hospital visits, and more. Unfortunately, these benefits are not automatic to unmarried couples, but if you create a comprehensive estate plan with an experienced California estate planning attorney, you may have access to these benefits. By creating an estate plan, you are able to secure your future knowing that your partner will be responsible for your wishes.
What is the purpose of a durable power of attorney?
One of the most important tools is a durable power of attorney. By creating this document, your partner inherits the authority to handle certain aspects of your life in the event that you are unable to do so. Many people use powers of attorney to delegate their financial affairs to their loved ones. Additionally, people may appoint their partner as a healthcare proxy which gives them the ability to make important life-or-death medical decisions, if one arises.
What is a letter of instruction?
An additional document you will want to use during the estate planning process is a letter of instruction. This is a tool that can be used to list any information you think your significant other would need to know regarding the access and distribution of your assets upon your passing. For example, you may include passwords or passcodes to online banking or a safe, or tell your partner where assets are located. You can include whatever you deem necessary in this letter, which is why it is very beneficial to draft one.
If you and your partner are not married but would like to create an estate plan, it is in your best interest to retain the services of an experienced estate planning attorney at The Law Offices of Yacoba Ann Feldman today.
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.