We Are Whelchel & Carlton, LLP

The importance of an estate plan for unmarried couples

On Behalf of | Oct 3, 2024 | Estate Planning

Among the many reasons why some couples in long-term relationships choose not to marry is that they don’t want to deal with all of the documentation and bureaucracy that comes with becoming legally married. 

There are, however, some documents that committed, unmarried couples should consider putting in place to protect each other and themselves if something happens to one of them. 

Protecting your partner financially with a will 

It’s wise for all adults to have a will to designate, among other things, how they want their assets distributed when they die. If someone dies without a will (intestate), assets are distributed according to state law – to spouses, children, parents and other relatives. 

There’s no mention in the law of non-related beneficiaries. By having a will, you can designate which of your assets you want to leave to your partner. You can’t just assume that your family will take care of them. 

Giving your partner authority in a medical crisis

Another time where you risk having your partner left out because you aren’t married is if you suffer a catastrophic injury or illness. By designating them as your health care agent and giving them power of attorney (POA) over your health care if you’re unconscious, you can help prevent conflicts with your family over when to end life-sustaining care if there’s no hope of recovery.

It’s also crucial to draft a living will (advance directive). This lets you detail your wishes regarding under what circumstances you would want to be kept alive. This document gives your medical team and your partner important guidance. 

Certainly, no two couples are alike. That’s why it’s wise to get experienced estate planning guidance to help determine what documents you and your partner need to help you look out for one another.