If you are married and comfortable with your spouse assuming ownership of any property that you share together you may feel as though estate planning is not necessary for you.
In reality, taking this approach is a mistake because there are a lot of details to take into consideration, especially if you are concerned about the eventualities of aging in addition to the simple transfer of assets.
The above having been stated, there are indeed certain protections that are built-in when you are legally married with regard to asset transfers and medical decision-making. People who are in long-term committed relationships who are not married in the eyes of the law do not enjoy these safeguards.
When you think about domestic partnerships same-sex unions often come to mind, and it is indeed important for gay couples to execute the appropriate estate planning documents even if they are legally married at the present time.
But there are others who choose to live together without getting married for their own reasons. These individuals must also record their wishes in a legally binding manner because they have no status under the accepted rules of intestate succession.
Many people don’t know where to begin when they consider the subject of estate planning, and this is understandable. If you are ready to devise a plan for the well-being of those that you love, simply take action right now and get in touch with a licensed and experienced Hartford estate planning attorney set up an informative consultation.