Unmarried couples face unique legal challenges when it comes to estate planning. Without a formal legal framework, the emotional and financial complexities can become overwhelming. Proper planning is essential to ensure your partner is protected and their entitlements are secured.
Beneficiary designations on accounts such as retirement funds and life insurance policies take precedence over a will. Therefore, it's essential to keep these updated to ensure your partner benefits as intended. Failing to update could mean that your partner does not receive the financial support you intended to provide.
A Last Will and Testament is a foundational document in estate planning. Without it, state laws will determine how your assets are distributed, potentially excluding your partner. A will allows you to name your partner as a beneficiary and appoint an executor to administer your estate according to your wishes.
Creating a trust offers additional protection by shielding assets from legal challenges. It allows for a quicker and more private transfer of assets to your partner, bypassing the probate process. This can be especially beneficial for unmarried couples who want to ensure their assets remain within their control.
Estate planning is not exclusively for married couples. Without the legal benefits of marriage, unmarried couples must make extra efforts to protect their partner's future. Setting up a will, creating a trust, and updating beneficiary designations are crucial steps you can take today. Reach out to our estate planning firm to help establish these vital legal documents and secure your future together.
Quick Links
Contact Details
Phone: (985) 386-7600
Email: attorneys@dwlfirm.com
Address:
154 West Pine Street, Ponchatoula, Louisiana 70454, United States
All Rights Reserved | Drake Williams Law Firm | Privacy Policy