Unmarried couples, especially in their later years, often face unique challenges when it comes to protecting their relationship legally and financially. Without the protections that marriage provides, your partner may be excluded from key decisions about your health, finances, or estate—and could even face legal battles to claim assets you intended for them.
At Vick Law, we understand these concerns and provide comprehensive estate planning solutions to give unmarried couples peace of mind. Whether you’re choosing not to marry for personal, financial, or practical reasons, we’re here to help you build a legal safety net for your relationship. Through thoughtful estate planning, we’ll ensure your partner is protected, your wishes are honored, and your shared life together is safeguarded.
Why Estate Planning Matters for Unmarried Couples
For married couples, inheritance laws and spousal rights often automatically protect a surviving spouse. Unmarried partners, however, are not granted these protections by default. Without a clear estate plan, a partner may be left out of important decisions or face legal battles to claim assets.
Creating an estate plan ensures that your partner has access to your assets and authority in medical and financial matters. Estate planning allows you to formalize your relationship’s importance in a legally binding way, regardless of marital status.
Essential Estate Planning Tools for Unmarried Couples
Last Will and Testament
A will is the foundation of any estate plan and is especially critical for unmarried couples. By specifying your partner as a beneficiary, you ensure that they receive the assets you want them to inherit. State intestacy laws apply without a will, meaning assets could pass to your next of kin—potentially excluding your partner entirely.
In addition to outlining inheritance, your will can specify other key details, such as guardianship of children or pets, providing further legal clarity.
Living Trust
A living trust provides an additional layer of security by allowing assets to transfer directly to your partner without going through probate. In a trust, you can designate your partner as a beneficiary, and the assets within the trust pass to them automatically upon your death. Trusts offer privacy and often streamline the inheritance process, allowing your partner quicker access to assets without the delays and public exposure of probate.
Durable Power of Attorney
A durable power of attorney (POA) allows your partner to make financial and legal decisions on your behalf, if you become incapacitated. This document is essential for unmarried couples, since partners are not automatically granted financial authority like spouses. A POA allows your partner to manage your finances, access accounts and handle legal matters, ensuring that they can support your interests during difficult times.
Healthcare Proxy and Advance Directive
A healthcare proxy and advance directive enable your partner to make medical decisions on your behalf if you cannot do so. Without these documents, an unmarried partner may have no legal say in your healthcare. By designating your partner as your healthcare proxy, you empower them to make decisions that align with your preferences, such as treatment options or end-of-life care. An advance directive further clarifies your medical wishes, reducing the burden on your partner in critical moments.
Beneficiary Designations
Ensure that your partner is listed as a beneficiary on key accounts, such as retirement plans, life insurance policies and bank accounts. Beneficiary designations take precedence over wills, meaning these assets pass directly to the named person, bypassing probate. Regularly reviewing and updating these designations is essential to avoid potential conflicts or unintended beneficiaries.
Property Ownership Options
For unmarried couples, jointly owning property can provide added security and simplify the transfer process. Options include:
- Joint Tenancy with Right of Survivorship (JTWROS): This ownership structure automatically transfers property ownership to the surviving partner upon one partner’s death, bypassing probate.
- Tenancy in Common: Each partner owns a defined share of the property, which can be left to any beneficiary. This option provides flexibility but requires additional planning to ensure that your partner inherits your share.
Discussing these options with an estate planning professional can help you determine the best arrangement for property ownership based on your needs and goals.
How Vick Law Can Help
At Vick Law, we understand that every relationship is unique and requires a tailored approach to ensure your partner’s security. From drafting wills and creating trusts to establishing durable powers of attorney and healthcare proxies, our personalized solutions protect your partner and provide clarity in uncertain times.
Don’t let your relationship go unprotected because you’ve chosen not to marry or remarry. Estate planning isn’t just about the assets—it’s about ensuring your loved ones are cared for and your wishes are honored. Call Vick Law today to schedule a consultation, and let us help you secure your future together.
Key Takeaways
- A will is essential for unmarried partners: Naming your partner as a beneficiary in your will ensures that they inherit your assets.
- Trusts provide privacy and avoid probate: A living trust allows assets to pass directly to your partner without delays.
- Power of attorney grants financial authority: A POA ensures that your partner can handle financial matters if you’re incapacitated.
- Healthcare proxies safeguard medical decisions: Designating your partner as a proxy ensures that they can make critical health choices for you.
Reference: J.P. Morgan (Sept. 12, 2024) “Retirement and Estate Planning for Unmarried Couples”
