How Estate Planning Protects Unmarried Couples
In California, unmarried couples can take advantage of current legal protections by creating an estate plan.
Under current law, unmarried couples do not have the same rights as married couples, which makes it especially important for them to have an estate plan that designates a significant other as a beneficiary. Some options that unmarrieds need to consider include:
- Naming your partner as a beneficiary of a life insurance policy;
- Leaving your partner personal property in your will;
- Establishing a trust to receive IRA and pension benefits, with your partner as beneficiary;
- Designating your partner as beneficiary of "payable on death" accounts, including bank and investment accounts;
- Naming your partner as your agent for financial and healthcare durable powers of attorney and giving them access to your healthcare records via a HIPAA authorization form.
Through California estate planning, unmarried partners can protect one another as well as provide for any children they have together.
The Flanigan Law Group provides Southern California residents with personal attention for estate planning, administration and litigation legal services. When disputes between families, arise, they are very successful in resolving legal estate issues quickly and efficiently while preserving financial and emotional resources. Contact the Flanigan Law Group at 949-450-0042.