Planning for Unmarried Couples
Unmarried couples are not afforded the same legal rights as legally married couples.
In the event of a disability, without proper documentation, an unmarried person may not be able to take care of his or her partner and make important medical and financial decisions on his or her partner’s behalf.
Without the execution of a valid will, an unmarried person’s probate assets under Florida intestacy law will go to the next of kin and will not be inherited by his or her partner.
Devising an estate plan is of further importance because unmarried partners are not eligible to receive the gift and estate tax marital deductions that are provided to spouses.
Therefore, at a minimum, unmarried partners who view themselves as a family unit may execute a basic estate plan which includes the following documents:
- Revocable Living Trust and Pour Over Will
- Durable Power of Attorney
- Designation of Health Care Surrogate with HIPAA Provisions
- Living Will
- Pre-Need Guardianship Designation
- Grantor Retained Interest Trust (GRIT)
To learn more about planning for unmarried couples and advanced estate planning techniques that may benefit you and your loved ones contact Eric S. Kane, P.L. at (305) 937-7280.
The law office of Eric S. Kane, P.L. is located in Aventura, a municipality in Miami-Dade County, and serves clients throughout Miami, Miami-Dade County, Broward County, Palm Beach County, Martin County, Monroe County, Collier County, Lee County and all of Florida’s 67 counties.