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125 Clairemont Ave., Suite 550,
Decatur, GA 30030

404-549-5001

The Unique Estate Planning Concerns of Non-Married Life Partners

estate planning concerns - and non-married life partners atlanta ga

Estate planning concerns abound, always with unique nuances and considerations.

These nuances and considerations can be more intricate when it comes to non-married life partners.

The divorce rate is the lowest it’s been in a decade. The number of people getting married is also at record lows. But what may be contributing to both of those statistics is a number that’s up and continuing to climb. This is the number of unmarried life partnerships.

This population group faces unique estate planning concerns and challenges.

Unmarried partners do not have the same legal privileges as married couples. In fact, if one of the partners should become incapacitated, ill or die, without properly executed estate plan documents, the surviving partner will not be entitled to anything. They may not even be able to visit their partner in the hospital.

But there are things far more important than the dispersal of assets and other belongings (though this is also important).

Having a health care proxy, advance medical directive or living will, and a financial power of attorney top that list. Without these two important documents, if you or your partner becomes unable to make medical decisions or take care of financial matters, there might not be anyone to do so.

If a couple is married without estate planning documents, there are Laws of Intestacy  These laws ensure the the surviving spouse will receive a minimum of ½ (if not all) of couples’ assets. Of course, in a blended family, things could be different. But surviving partners in unmarried couples do not get the same recognition as spouses or family members.

All unmarried couples who are together for life need to find an estate planning expert who understands their unique estate planning concerns. And who knows how to properly execute the correct documents.

The growing number of unmarried partnerships makes planning more urgent. You should name both a healthcare proxy and a financial power of attorney. Without these documents, partners may lack legal authority to make decisions.

The COVID-19 pandemic highlighted this risk. Many unmarried partners faced sudden loss without legal rights. They could not make medical or financial decisions for each other.

Choosing not to marry is a personal decision. However, you should still put legal protections in place. These steps help protect both you and your partner during life and after death.

If you or a loved one is in a committed partnership, contact our office at 404-370-0696. We can help you create a plan that protects both partners.

   

Looking to find an experienced estate lawyer in the Georgia area who is skilled in asset protection and estate plan preparation? Shannon Pawley is an attorney in Georgia with expertise in estate planning and asset protection. Shannon can provide assistance with creating an estate plan to include making a will and how to establish a trust properly. If you have questions about asset protection or questions about making an estate plan, reach out to Shannon and she will be glad to help answer all the estate planning questions you might have!

 

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