Unfortunately, however, if you fail to recognize that there is a relationship and concerns associated with these two unmarried individuals, you could run the risk that your significant other has zero rights and could be removed financially and personally from your life. There are three key documents that unmarried couples should consider. These include:
- A Health Care Proxy in which you are able to designate another individual to make decisions on your behalf if you become incapacitated.
- A durable power of attorney which allows another individual to step in and manage your finances if you become incapacitated.
- A will or living trust that allows you to form the basis of your estate plan. Either one or both of these documents may be important for you.
Consulting with a knowledgeable estate planning attorney is the first step to determining what documents and strategies may be used by an unmarried couple to protect their interests in the future.
As your needs evolve, having a relationship with an estate planning attorney in Massachusetts can make it easier for you to update your documentation. With marriage, divorce, or the birth of a new child, your estate plan needs to grow as you do.