Marriage is not for all couples. In many cases, couples will choose to stay life-partners, without officially getting married. If you are an unmarried couple, you may have questions about how involved you can be in the other’s medical, financial, and overall life decisions. Fortunately, New York offers various benefits for estate planning for unmarried couples, including collecting each other’s inheritance, social security benefits, joint taxes, and more. Despite not being married, you and your partner have the potential to obtain these benefits by creating an estate plan. Contact our experienced New York estate planning attorneys at the Law Office of Andres D. Gil, PLLC today to get started. Please continue reading to learn more about estate planning for unmarried couples in New York.
What is the role of a Durable Power of Attorney in estate planning for unmarried couples in New York?
Durable Powers of Attorneys are one of the most useful tools for unmarried couples. With Durable Powers of Attorneys, you can give your partner rights to make important life decisions on your behalf if you were to become incapacitated or unable to make those decisions on your own. By creating a Durable Power of Attorney, your partner can make end-of-life decisions regarding medical treatments or other medical decisions. They may also be able to manage finances in the event that you cannot.
What is a letter of instruction?
This is a tool that unmarried couples can use to document their wishes to be carried out upon their passing. These letters can contain detailed instructions that they leave for their partners including passwords or passcodes to safes or online accounts, where assets may be located or hidden, potential bills that need to be addressed, and more.
If you are interested in drafting a letter of instruction, it is in your best interest to speak with an experienced estate planning attorney that can ensure nothing is left out.
What is a digital estate plan?
Because technology has become so prevalent in our lives, you will also have to plan for your digital assets. Items like iPads, computers, and online accounts that contain sensitive information or intellectual property that is stored electronically will have to be planned for. The entirety of your estate cannot be accounted for unless you create a digital estate plan with it.
If you are an unmarried couple that is looking to create an estate plan, contact our experienced estate planning attorneys at the Law Office of Andres D. Gil, PPLC. We are committed to ensuring that you and your partner have your estates covered.
Contact our Firm
If you or a loved one needs assistance creating an estate plan and wishes to speak with an experienced attorney, contact the Law Office of Andres D. Gil, PLLC today.