Today, an increasing number of couples are choosing to remain unmarried or delay marriage for a variety of reasons. While estate planning is important for everyone over 18 years of age, it is particularly important for unmarried couples because they do not have the same protections that spouses do under Minnesota law.
Without an estate plan in place, your unmarried partner will not inherit any of your property. This is because if you do not have an estate plan in place, Minnesota law dictates who will inherit your property and blood relatives of any degree will inherit over an unmarried partner no matter how long or committed your relationship. In addition to issues of inheritance, an unmarried partner may also have more difficulty managing a disabled partner’s financial affairs and health care.
Because of the increased importance of estate planning for unmarried couples, every unmarried couple in a long-term, committed relationship should have at least three documents:
1. Will or Trust: A Will or Trust will allow you to leave some or all of your property to your unmarried partner and appoint them to manage and administer your property when you die.
2. Power of Attorney: A Power of Attorney will allow your unmarried partner to manage your financial affairs and
3. Health Care Directive: A Health Care Directive will allow your unmarried partner to make health care decisions for you if you are unable to do so because of an illness or injury.
Because estate planning is so vital for unmarried couples, it is important to speak to an experienced estate planning attorney about your unique situation. To speak with an experienced estate planning attorney, contact Tentinger Law Firm at 952-953-3330 or use our quick contact form.