Cohabiting couples often assume that their assets and rights will be protected without formal estate planning. However, without legal documentation, partners may face significant challenges in securing inheritance rights, making financial decisions, and ensuring their wishes are honored.
Consequences of Not Having an Estate Plan
- Intestate Succession Laws Apply – Without a will or trust, state laws determine asset distribution – unmarried partners may not automatically inherit property, leaving assets to biological family members instead
- Delays in Asset Distribution – Probate proceedings can become lengthy and complicated – without clear instructions, partners may struggle to access shared assets
- Increased Costs and Legal Fees – The absence of an estate plan can lead to higher court costs and legal expenses – probate fees may reduce the overall value of the estate
- Potential Family Disputes – Without legal directives, relatives may contest asset distribution – disputes can create lasting conflicts and financial uncertainty
- Healthcare and Decision-Making Challenges – Without powers of attorney or healthcare directives, partners may be excluded from making medical or financial decisions in case of incapacity
- Guardianship Issues for Children – If children are involved, courts may decide guardianship without considering the wishes of the surviving partner
- Missed Tax Benefits – Estate planning provides opportunities to minimize taxes – without a structured plan, partners may lose potential tax advantages
Secure Your Future with Professional Estate Planning
Cohabiting couples must take proactive steps to protect their assets, inheritance rights, and decision-making authority. Establishing wills, trusts, and legal directives ensures financial security and prevents unnecessary complications.
For expert estate planning assistance, contact The Eastman Law Firm:
Contact Us Today
Name: The Eastman Law Firm
Address: 4901 W. 136th Street, Ste. 240Leawood, Kansas66224
Phone Number: (913) 908-9113
Website: www.theeastmanlawfirm.com
Estate planning empowers cohabiting couples to safeguard their financial future, protect their rights, and ensure their wishes are legally recognized.
