North Palm Beach Estate Planning Lawyers
Helping Unmarried Couples Plan for the Future
Estate planning is often mistaken for a task reserved for wealthy individuals with extensive assets and multiple beneficiaries. However, planning for the financial future is vitally important for everyone regardless of financial or marital status. Unmarried couples, in particular, must take practical steps to plan for the future and protect their best interests. Failing to properly prepare for life’s unexpected turns can lead to devastating personal and financial consequences. At Kitroser Lewis & Mighdoll, our dedicated and experienced North Palm Beach estate planning attorneys take the time to listen and understand your unique situation and help you determine the best course of action for your future. Don’t wait until it’s too late to get the legal guidance and support you need to prepare.
Unmarried couples must take specific legal steps to protect their best interests
Married couples are seen as a united entity under the law. There are specific legal statutes in place concerning property division and healthcare decision-making rights for married couples. Unfortunately, these same protections are not extended to unmarried couples.
Marriage is not for everyone and cohabitation is far more accepted now than in past decades. Recent statistics indicate that many couples are purposely choosing to forgo marriage. However, when an unmarried couple is separated, either voluntarily or through the death of one party, there are no legal protections to fall back on. Florida, because it is not a community property state, provides no legal protection for unmarried couples. There are several different areas that must be considered during the estate planning process including:
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Property: Wills, trusts and living wills are the best way to protect your assets and retain control over who gets what in the event of one party’s death or a couple’s separation. This includes any residences, land holdings, bank accounts, cars, artwork, etc. Planning ahead can prevent disputes regarding separate property that often lead to expensive and lengthy litigation. For couples with significant assets and children by previous relationships where possible conflict over assets and income can be anticipated, the selection of a professional trustee should be considered.
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Healthcare: Unexpected tragedies can happen in the blink of an eye. If an unmarried individual is incapable of making their own healthcare decisions that responsibility then goes to a proxy according to an order of priority beginning with a patient’s adult child, parent, sibling and so on. Establishing a healthcare surrogate or conferring healthcare decision-making powers through a power of attorney document is the best way to ensure that you determine who has the ability to make decisions on your behalf.
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Family planning: Choosing a guardian for your child or pet in the event of your death is one of the most important tasks in estate planning. There are many different family structures and dynamics that can lead to contentious legal battles, particularly between families of an unmarried couple, when you fail to plan for the unexpected.
Proactive estate planning is the only way to ensure your wishes are carried out to your specifications.
Contact a leading North Palm Beach estate planning lawyer for comprehensive legal advice and representation
Estate planning can seem like a daunting and complex task. At Kitroser Lewis & Mighdoll our accomplished North Palm Beach estate planning attorneys provide reliable legal guidance in a compassionate environment. Our primary goal is to put your needs first and develop the best legal strategy based on your specific circumstances. To discuss your options during a consultation, call us at 561-721-0600 or send an email.