How Should Unmarried Couples Approach Estate Planning in Palm Beach County?

According to numerous reports, many modern couples view marriage as an outdated concept. Young couples are especially dismissive of this tradition, and a majority of them say that it is not necessary for a happy, committed relationship. If you agree, you might want to consider how this philosophy could affect your estate planning needs. How should unmarried couples approach estate planning in Palm Beach County?

Understand What Might Happen if You Die Without a Will 

First, unmarried couples should take a moment to review what might happen if they pass away without a valid Last Will and Testament. In the legal world, this is known as “dying intestate.” When you die intestate, the probate court follows a very specific set of guidelines called “intestate succession.” In the absence of a Will, your assets will be distributed according to these guidelines.

So why is this a problem? Intestate succession automatically gives most of your assets to your spouse – but only if you have one. If you die without a spouse, your assets could pass to other family members. These might include your parents or your children. This might be completely against your wishes, and a Will can provide you with greater control over what happens in this situation.

Understand What Might Happen to Your Children 

Unmarried couples may also face certain issues regarding their children if they pass away without proper estate planning tools. For example, you might have started a committed relationship with a woman who already has children. For all intents and purposes, you might have become the “stepfather” of these children.

If the mother passes away, however, your right to act as the legal guardian of these children may come under scrutiny. With no biological relationship to the children, you do not have the same rights as a biological father. Since you never married the mother, you also have no rights as a stepfather.

While adopting the children is an obvious way to address this issue, the mother could also choose you as their legal guardian if she passes away. This is a relatively simple step from an estate planning perspective, and you can discuss it further with a qualified attorney.

Society Is Geared Toward Married Couples

 There are many other examples of legal issues that unmarried couples might encounter. Modern society is geared toward unmarried couples. There are numerous tax implications, healthcare benefits, property rights, and retirement benefits specifically designed to benefit spouses. To discuss the specific issues that might affect your family, consider a consultation with an estate planning lawyer.

 Can an Estate Planning Attorney in North Palm Beach Help Unmarried Couples?

An estate planning attorney in Stuart can help couples whether they are married or not. While online research may provide some guidance on this subject, each couple has unique goals and priorities when it comes to estate planning. As a result, it may make sense to discuss your situation alongside Kitroser Lewis & Mighdoll. We can guide you toward peace of mind – so schedule your consultation today to get started.

Sources:

 thehill.com/changing-america/respect/equality/4107946-2-in-5-young-adults-surveyed-say-marriage-an-outdated-tradition/#:~:text=Though%2C%2085%20percent%20also%20reported,way%2C%20according%20to%20the%20poll.

bbc.com/news/world-us-canada-43899553