Legal Documents for Unmarried Couples Living Together

If you're in a committed relationship but have skipped the wedding, there are definite steps you can take now to assure your legal rights are honored. Legal and financial experts recommend that committed but unmarried couples consider making the following legal documents part of their portfolio:

Powers Of Attorney
A "durable power of attorney" and (sometimes called a "durable power of attorney for health care") will give your partner the right to handle your finances and health care decisions in the event of an accident or illness that leaves you incapacitated. This can prevent disputes with family members, who otherwise might be legally entitled to make these decisions.

Wills
Without a will, your entire estate will go to your relatives, not your partner. So if you're intending for your partner to receive even a portion of your estate, it's important to say so in a will.

Letters of Instruction
A "Letter of Instruction" lays out your wishes for burial or cremation, and can name your partner as the person responsible for making any decisions not covered by the letter of instruction.

Federal Estate Tax Planning
A married couple can benefit from federal estate tax laws that allow them to leave unlimited assets to each other free of federal estate tax implications. Unmarried couples must plan more carefully how to allocate sizable estates. It's important to see an estate planning lawyer who understands tax laws.

Beneficiary Changes
You're allowed to name a beneficiary on many accounts, such as:

•Individual retirement accounts
•Life insurance policies
•401(k) accounts
•Some stock accounts

Beneficiary designations on these accounts override your will, so it's important to make sure the money in these accounts is going to the appropriate beneficiary, either your partner or someone else.

Eric M. Gansberg is your #1 source for legal representation regarding the rights of unmarried couples in New York and Staten Island. He has the background and experience to make sure that your needs and interests are met first. Choose Eric M. Gansberg for all your attorney needs!