Month: April 2025

Gene Hackman’s Estate: A Wake-Up Call

Post author By Sara Thomas
Post date April 23, 2025
No Comments on Gene Hackman’s Estate: A Wake-Up Call

The recent passing of legendary actor Gene Hackman has revealed a complicated estate situation that is a powerful warning for everyone – married couples especially – regardless of net worth.

Whether you have significant assets or just want to ensure your wishes are honored during your lifetime and you don’t leave a mess of open loops, creditors, and pain for your loved ones, getting your estate plan done right so it doesn’t fail when the people you love need it is the answer. Unfortunately, many estate plans, even plans prepared by top lawyers and law firms, are ticking time bombs that will blow up when it’s too late. However, the proper estate planning process, which I call Life & Legacy Planning, can save your loved ones from the cost of failed planning.

This article will look at the lessons from the Hackman family estate plan. I’ll explore the importance of having a well-structured Life & Legacy plan, the risks of outdated documents, and key strategies to prevent inheritance disputes.

Let’s first explore what’s happened.

What Happened

Gene Hackman, the two-time Academy Award winner known for films like The French Connection and Unforgiven, and his wife Betsy Arakawa were recently found deceased in their Santa Fe, New Mexico home. Court documents reportedly reveal that Arakawa, 65, died on February 11 from Hantavirus pulmonary syndrome, a rare disease contracted through contact with mouse droppings. Hackman, who was 95, died a week later from natural causes related to heart disease and complications from Alzheimer’s disease.

The couple’s wills, dated from 2005, show they each intended to leave their estates to one another. Hackman’s will named Arakawa as the personal representative of his estate and the recipient of his “entire estate” as successor trustee of the Gene Hackman Living Trust. Similarly, Arakawa’s will specified that her estate would go to the trustee of Hackman’s trust if he outlived her.

Unlike many couples, who leave their assets to each other and don’t have a plan for what happens if they die together or close together, the Hackmans had contingency plans. Since Hackman and Arakawa are deceased, Julia L. Peters, named as the second successor personal representative in Hackman’s will, has taken over the duties of managing both estates. The first successor named in the wills, attorney Michael G. Sutin, is also deceased.

Court documents show that Peters, who works for a trust company, was appointed as the personal representative for both estates in March 2025. Peters filed appropriate paperwork to admit Hackman’s will to probate and begin the administration process.

The Simultaneous Death Problem Most Couples Ignore

Most married couples do precisely what Hackman and Arakawa did—they name each other as the primary beneficiary on everything: wills, trusts, life insurance policies, retirement accounts, and more. But what happens if you and your spouse die together or a short time apart? Chaos, delays, and assets potentially going to unintended beneficiaries can result. Your loved ones will almost certainly have to go to court, which is set up for conflict and can be very expensive. The best practice is to name backups or contingent beneficiaries so your plan works.

Arakawa considered this possibility in her estate planning. Reports indicate her will contained a provision that if she and Hackman died within 90 days of each other, her assets would go to a charitable trust, as she had no children of her own.

Blended Family Considerations

If you have a blended family, things can get complicated. With Arakawa and Hackman dying within days of each other, it may be challenging to sort out who the beneficiaries are. His plan says she receives his assets, and her plan says he receives her assets. This creates a loop that needs to be sorted out. If Arakawa’s assets go to a charitable trust instead of to Hackman’s estate, Hackman’s kids may receive nothing from her estate.

Hackman’s will acknowledges his three adult children from his previous marriage to Faye Maltese: Christopher Hackman, Elizabeth Hackman, and Leslie Allen. Court records show that notices regarding Peters’s appointment as personal representative were sent to all three children in March 2025.

While the publicly available documents don’t reveal how Hackman’s assets will ultimately be distributed among beneficiaries, Peters noted in court filings that after specific bequests to “identified beneficiaries,” the remainder of Hackman’s trust will be “distributed per the desires of Gene Hackman as expressed in the trust document.” The trust documents have not been made public, which is one of many reasons you likely want a trust to govern the distribution of your assets at the time of your death..

The Life & Legacy Planning Difference

The Hackman case demonstrates several important estate planning principles, regardless of net worth, that anyone can learn from. I create plans for clients using the Life & Legacy Planning® process, which means your plan works when you and your loved ones need it to. All my Life & Legacy plans are comprehensive and customized to fit your particular family dynamics, your assets, and your wishes.

When you work with me, these are just a few of the strategies we can use that may make sense for you:

1. Name Contingent Beneficiaries for Everything

For every asset and document, we’ll name not just primary beneficiaries but also contingent beneficiaries. This includes your will, trust, life insurance, retirement accounts, transfer-on-death accounts, and any other assets with beneficiary designations. When you work with me, we start by inventorying all your assets so nothing gets missed, and all accounts that need beneficiaries are handled properly.

2. Include Simultaneous Death Provisions

If you’re married, we’ll include provisions in your will and trust that specifically address what happens if you and your spouse die simultaneously or within a short time of each other. The standard “120-hour rule” in many state laws may not be sufficient for your needs. We’ll also address what happens if any beneficiary you’ve named dies before you.

3. Create a Revocable Living Trust

A properly structured revocable living trust can provide more precise instructions for various scenarios and is often more flexible than wills are. Trusts also offer privacy, can save money on taxes, and can bypass the probate process, keeping your loved ones out of conflict and saving them time and money.

4. Include Special Provisions for Blended Families

If yours is a blended family, we will include customized strategies so your children are never accidentally disinherited.

5. Review and Update Regularly

Hackman’s will was reportedly last updated nearly 20 years before his death—a dangerously long period that would put anyone’s estate plan at risk.

If you want to ensure your plan works, it must reflect your life as closely as possible when something happens to you, whether death or incapacity. Thus, your plan must be reviewed at least every 3 years and after any significant life event such as the death of a beneficiary, marriage, divorce, or birth. Even if you haven’t had a significant life change, your assets may change – you inherit a significant sum, for instance – or the law could change. Any of these scenarios could put your plan at risk of failing.

Most attorneys will not review your plan with you regularly, so you have to remember to update your plan on your own. Not only that, you may not even be aware that your plan needs updating! On the other hand, my Life & Legacy Planning process includes reviews at least every 3 years. It’s built into my system for every client. This means that I take the burden off you so you don’t have to remember to review and update your plan. We can catch vulnerabilities in your plan before they become problems for your loved ones.

Your Next Step

As the Hackman case illustrates, effective estate planning isn’t just about creating documents—it’s about creating a comprehensive plan that anticipates any scenario, stays updated over time, and protects all the people you care about.

I support you to create a Life & Legacy Plan that works when you need it to work. That’s why I start with a Life & Legacy Planning Session, where we’ll discuss not just who gets what but what happens in complex situations like simultaneous deaths, incapacity, or beneficiaries who predecease you. We’ll also discuss what will work for your unique family situation, whether you’re part of a blended family, have children with special needs, or face other circumstances that require specialized planning.

Don’t leave your legacy to chance or create accidental disinheritances through incomplete planning. Together, we can create a plan that truly protects you and everyone you love most. Contact us today to get started.

This article is a service of August Law, a Personal Family Lawyer® Firm. We don’t just draft documents; we ensure you make informed and empowered decisions about life and death, for yourself and the people you love. That’s why we offer a Life & Legacy Planning™ Session, during which you will get more financially organized than you’ve ever been before and make all the best choices for the people you love.

The content is sourced from Personal Family Lawyer® for use by Personal Family Lawyer® firms, a source believed to be providing accurate information. This material was created for educational and informational purposes only and is not intended as ERISA, tax, legal, or investment advice. If you are seeking legal advice specific to your needs, such advice services must be obtained on your own separate from this educational material.

Tags Back-up Successor, Estate Planning, Gene Hackman Estate, Simultaneous Death

Uncategorized

Why Reviewing Your Trust Regularly Isn’t Optional—It’s Essential

Post author By Sara Thomas
Post date April 17, 2025
No Comments on Why Reviewing Your Trust Regularly Isn’t Optional—It’s Essential

You’ve taken the important step of creating an estate plan, including a trust—congratulations! This shows you care deeply about keeping your family out of court and conflict, ensuring your wishes are known and honored, and you do not want to leave behind a mess for the people you love. Great work. But you may not realize that an estate plan, a will, or a trust isn’t a “set it and forget it” type. Your estate plan is a living set of documents and tools that need regular attention to ensure they work when your loved ones need them and don’t fail at the worst possible moment.

Think about it this way: Would you still wear the same clothes you bought ten years ago without checking if they still fit? Probably not. Similarly, your estate plan, including your trust, must be reviewed regularly to ensure it still “fits” your current life situation, assets, the law, and wishes. Let’s explore why regular estate plan reviews are crucial and how often you should check in on your plan.

Life Changes and Your Trust Should, Too

Life rarely stays the same for long. Since you created your trust, you’ve likely experienced changes in your personal and financial life. Each of these changes can impact how effective your trust will be in protecting your assets and providing for your loved ones.

Consider significant life events like marriage, divorce, or the birth of children or grandchildren. These milestones fundamentally alter your family structure and potentially your wishes regarding who should benefit from your estate. For example, if you’ve recently welcomed a new grandchild, you should include them as a beneficiary. Or if you’ve gone through a divorce, you’ll likely want to remove your ex-spouse from your trust.

Your financial situation evolves as well. Perhaps you’ve purchased new property, started a business, or received an inheritance. These assets need to be appropriately incorporated into your trust. Otherwise, they may go through probate, defeating one of the primary purposes of having a trust in the first place.

Even changes in your relationships can necessitate updates to your trust. The person you appointed as a successor trustee five years ago might no longer be the best choice. Without regular reviews, your trust may not accomplish what you intend, potentially leading to conflict among your loved ones or assets being distributed in ways you never would have wanted.

Laws Change, Even When Your Wishes Don’t

Even if your situation has remained relatively stable, the legal and tax landscape constantly evolves. These changes can significantly impact how your trust operates and its effectiveness in protecting your assets.

Tax laws, in particular, frequently change with new administrations and shifting political priorities. For instance, the Tax Cuts and Jobs Act of 2017 doubled the federal estate tax exemption, dramatically changing estate planning considerations for many families. If your trust was created before this change, it might contain no longer necessary or beneficial provisions under current law.

State laws governing trusts and estates also change regularly. These modifications can affect everything from how your trust is administered to the rights of beneficiaries. Without regular reviews, your trust might not take advantage of beneficial new laws or run afoul of new requirements.

By reviewing your trust periodically, you can ensure it remains compliant with current laws and takes advantage of any new beneficial provisions. This proactive approach helps protect your assets and your loved ones from unexpected legal complications.

How Often Should You Review Your Trust?

Given the importance of updating your trust, you might wonder how frequently you should review it. While there’s no one-size-fits-all answer, some general guidelines can help you determine the proper schedule for your situation.

Review your trust every three to five years as a baseline, even if you don’t think anything significant has changed. This regular schedule helps ensure you don’t overlook gradual changes that might have occurred in your life, your assets, or the law.

However, certain life events should trigger an immediate review, regardless of when you last updated your trust:

Marriage, divorce, or the death of a spouse
Birth or adoption of children or grandchildren
Death of a named trustee, guardian, or beneficiary
Significant changes in your financial situation
Moving to a new state, as trust laws vary by state
Substantial changes in tax or estate planning laws

The Consequences of an Outdated Trust Can Be Severe

Failing to review and update your trust regularly can lead to serious consequences that undermine your initial reasons for creating it. These consequences can range from financial losses to family conflicts that proper planning could have avoided.

One of the most significant risks is that assets you’ve acquired since creating your trust may not be adequately funded into it. Trust funding—the process of transferring assets into your trust’s ownership—is crucial for avoiding probate. If you’ve purchased new property, opened new accounts, or acquired valuable assets without transferring them to your trust, these items will likely go through probate despite your efforts to avoid it.

An outdated trust can also result in unintended beneficiaries receiving your assets. If you haven’t updated your trust after significant life changes, your assets might go to people you no longer wish to benefit—or might not go to those you do want to include.

Family conflict is another potential consequence of an outdated trust. Unclear or outdated provisions can leave your loved ones arguing over what you intended. These disputes can damage family relationships and lead to expensive, time-consuming litigation.

Tax consequences can also arise from an outdated trust. Changes in tax laws might mean your trust no longer effectively minimizes estate taxes. Without updates to address these changes, your beneficiaries might face larger tax bills than necessary, reducing their inheritance.

Finally, reviewing your trust doesn’t always mean you must make changes. Sometimes, you’ll find that your current trust still perfectly reflects your wishes and circumstances. Even then, the review process is valuable for refreshing your understanding of your plan and giving you peace of mind.

Don’t Leave Your Family’s Future to Chance

Your trust is more than just a legal document—it reflects your care for your loved ones and your desire to provide for them even when you’re no longer here. By reviewing your trust regularly, you demonstrate that same care and foresight. You also save your loved ones from confusion, conflict, and costly legal proceedings during a difficult time.

I’m here to support you in this ongoing process. Reviewing legal documents isn’t high on anyone’s list of favorite activities. Still, I work to make the process as simple and painless as possible and build it into my ongoing service once we work together. Don’t leave your family’s future to chance. Schedule a plan review with me today and ensure your created plan will work exactly as you intend when your loved ones need it most.

Estate Planning

Beyond the FDIC Safety Net: Protecting Your Cash When Your Savings Exceed Insurance Limits

Post author By Sara Thomas
Post date April 9, 2025
No Comments on Beyond the FDIC Safety Net: Protecting Your Cash When Your Savings Exceed Insurance Limits

Imagine this: You’ve spent decades carefully saving money, building a comfortable nest egg representing years of hard work and discipline. One morning, you’re sipping coffee and browsing the news when headlines about a bank failure catch your eye. Your stomach drops as you realize a significant portion of your savings could be at risk because you’ve got an account in cash that exceeds the FDIC insurance limits.

This scenario isn’t just a theoretical worry—it’s a very real concern, as we have seen banks fail. The Federal Deposit Insurance Corporation (FDIC) serves as our financial safety net, offering protection of up to $250,000 per depositor, per insured bank, for each account ownership category. But what happens when your cash savings exceed that safety net? How do you ensure your entire financial legacy remains protected?

Understanding FDIC Insurance: Your Financial Safety Net

The FDIC was born from the ashes of the Great Depression when thousands of banks failed, and countless Americans lost their life savings. Today, it is one of the cornerstones of our banking system’s stability. Think of FDIC insurance as a financial life preserver—it’s not something you think about until you need it, but you’ll be immensely grateful it’s there when the waters get rough.

Here’s what to know: FDIC insurance isn’t just a blanket coverage of $250,000 per person. It’s more nuanced and more generous than many realize. The coverage extends to $250,000 per depositor per FDIC-insured bank for each account ownership category. These categories include single accounts, joint accounts, certain retirement accounts, and trust accounts.

Let me break this down with a practical example. Imagine Maria has the following accounts at First National Bank:

A personal checking account with $100,000
A joint savings account with her husband containing $300,000
An Individual Retirement Account (IRA) with $200,000

Is Maria fully protected? Let’s see: Her personal account falls under the single ownership category ($100,000, fully covered). The joint account with her husband receives up to $250,000 for each owner (Maria’s $150,000 share is fully covered). Her IRA falls under the retirement account category (her $200,000 is fully covered). Maria has $450,000 protected by FDIC insurance at this one bank.

Does this coverage arrangement make you think differently about how your accounts are structured? Have you considered how your current banking setup aligns with these protection categories?

When Your Savings Exceed FDIC Limits: Strategic Approaches

Many of us dream of having “too much money” for FDIC insurance to cover fully—it’s a good problem to have! But it’s still a problem that needs solving. When your financial reserves take you beyond the FDIC safety net, it’s time to get strategic about protecting those hard-earned dollars.

Think of managing large deposits like a farmer who doesn’t plant all their crops in a single field. If a storm hits one area, the entire harvest isn’t lost. Similarly, spreading your financial assets across multiple institutions creates resilience in your financial portfolio. Here are several approaches to consider:

Multiple Bank Strategy: Dividing Your Financial Pie

The most straightforward approach is to spread your funds across multiple FDIC-insured banks. Each bank will provide separate insurance coverage, effectively multiplying your protection. For example, if you have $750,000 in savings, you could place $250,000 in three different banks, ensuring complete FDIC coverage.

This strategy is a bit like not putting all your eggs in one basket—a time-tested approach to risk management that remains relevant in our digital banking age. The downside? Managing multiple accounts across different institutions requires more time and attention. You’ll need to track various account numbers and passwords and potentially deal with varying banking platforms. On top of that, if you have a revocable living trust, you want to ensure each account is tilted in the name of your trust and not in your name.

Utilizing Different Ownership Categories: Maximizing Protection at One Bank

Another approach involves strategically using different ownership categories within the same bank. A married couple, for instance, could have individual accounts ($250,000 coverage each) plus a joint account (another $500,000 in coverage, $250,000 for each person). Here’s what that could look like:

Husband’s individual account: $250,000
Wife’s individual account: $250,000
Their joint account: $500,000
Husband’s IRA: $250,000
Wife’s IRA: $250,000

That’s a total of $1.5 million protected at a single institution! This approach offers convenience but requires careful planning and clear documentation of ownership. If you have a revocable living trust, I must review your options with you here to ensure your accounts are correctly titled both for FDIC coverage and for your trust/estate planning purposes.

Certificate of Deposit (CD) Laddering: Timing Your Protection

CD laddering involves purchasing certificates of deposit with varying maturity dates. This provides a steady stream of maturing funds and can be structured across multiple banks to maximize FDIC coverage.

Imagine building a ladder where each rung represents a CD at a different bank. As each CD matures, you can decide whether to reinvest at the same bank or move funds elsewhere based on current interest rates and your coverage needs.

This approach is like planting different crops that harvest at different times of the year—you’re constantly collecting something, and no single weather event can wipe out your entire yield. If you go this route again, I want to ensure your CDs are properly titled in the name of your living trust.

Considering Credit Unions: An Alternative Safety Net

Credit unions offer an alternative to traditional banks with similar protection through the National Credit Union Administration (NCUA). The NCUA’s share insurance fund protects deposits up to $250,000, comparable to FDIC coverage.

For some, credit unions offer a more personal banking experience, competitive rates, and lower fees. They can be an excellent component of your deposit-spreading strategy.

As you consider these options, ask yourself: How is my current banking arrangement structured? Could I be vulnerable to losing uninsured deposits if my primary bank were to fail? How much complexity am I willing to manage to ensure maximum protection?

Looking Beyond Traditional Banking: Additional Options

Sometimes, thinking outside the traditional banking box can provide security and opportunity. Cash management accounts offered by brokerage firms often spread your deposits across multiple banks automatically, maximizing FDIC coverage without you having to manage multiple accounts directly.

For more significant sums, Treasury securities offer the backing of the full faith and credit of the US government and can be effective protection, so long as you believe the US won’t default on its loans. If you are concerned about the US debt crisis and whether the US will default on its loans, Treasury securities would not be a good option for you.

Remember that protection is only one consideration. You’ll also want to consider accessibility, convenience, and how your deposits fit into your broader financial and estate planning goals. After all, what good is protection if it makes your financial life unwieldy or prevents you from using your money effectively?

Bringing It All Together: Creating Your Protection Plan

Protecting your financial legacy isn’t just about security today—it’s about ensuring that the fruits of your labor will benefit you and potentially your loved ones well into the future. Just as you wouldn’t build a house without a solid foundation, you shouldn’t build wealth without ensuring it stands on secure ground.

The first step is to assess your current deposit situation. Make a list of all your deposit accounts, their balances, and ownership structures. Then, assess how much of your money currently falls outside FDIC protection. This clarity will help determine how urgently you need to restructure your accounts.

Next, consider which of the strategies we’ve discussed best fits your personal situation. Do you value simplicity and would prefer the multiple-bank approach? Or perhaps you’d like to keep your banking relationships consolidated and maximize coverage through different ownership categories.

Implementing your chosen strategy doesn’t have to happen overnight. You can make changes gradually, perhaps as CDs mature or as you receive new funds to deposit.

Securing Your Financial Legacy for the Future

I don’t just draft documents; I help you ensure you make informed and empowered decisions about life and death for yourself and the people you love. Understanding and addressing FDIC insurance limits is crucial to protecting your financial legacy.

That’s why we start with a Life & Legacy Planning® Session, where together, we’ll explore how your assets fit into your broader financial picture and help you get more financially organized than you’ve ever been. Then, I’ll support you in creating a Life & Legacy Plan that ensures your hard-earned assets are positioned to support your loved ones well into the future.

Schedule a complimentary 15-minute consultation to learn more. Contact us today to get started.

Tags Asset Protection, CD Laddering, Credit Union, Estate Plan, FDIC, Multi-Bank, Personal Family Lawyer

Estate Planning

Til Death Do Us Part? Why Unmarried Couples Must Have An Estate Plan That Works For the People They Love

Post author By Sara Thomas
Post date April 3, 2025
No Comments on Til Death Do Us Part? Why Unmarried Couples Must Have An Estate Plan That Works For the People They Love

Love in the 21st century takes many forms, and for many couples, “forever” doesn’t always include a marriage license. While a deeply personal choice, being unmarried adds layers of legal and financial complexity that can’t be ignored, especially when protecting your assets and loved ones.

Imagine this: you’ve built a life with your partner, maybe even bought a home and had children together. You share bills, dreams, and a future. But without the legal protections of marriage, what happens when one of you passes away? And what happens if one of you becomes incapacitated first?

Some of the questions you should be asking:

Who makes medical decisions for you or your partner? Without marriage or legal protections, you likely won’t be the person you want.

Who inherits what? Again, it will not likely go how you want without marriage or legal documents.

How would your children be provided for? It all depends on who the biological parents are and the line of “blood” relationship unless you’ve got an estate plan in place to ensure your children are cared for by the people you want, not who the law would choose.

How can you avoid a court process and potential conflict during an already emotional time?

The Legal Reality for Unmarried Couples

Unlike married couples, who automatically receive certain legal protections, unmarried couples must take deliberate steps to ensure their wishes are honored. In the eyes of the law, unmarried partners are essentially legal strangers, regardless of how long they’ve been together or how intertwined their lives may be.

This legal disconnect becomes starkly apparent in moments of crisis. If you’re hospitalized, your partner may be denied visitation rights or the ability to make medical decisions on your behalf. If you pass away without proper planning, your partner could be left with nothing – not even the home you’ve shared for decades.

According to a recent survey by Caring.com, only 24% of Americans have a will. This omission leaves millions of Americans vulnerable to painful legal and financial complications that can compound grief with unnecessary hardship. And it’s completely avoidable.

The Unmarried Couple’s Estate Planning Checklist

Here’s a closer look at some key areas where unmarried couples need to be especially proactive in their estate planning:

✔ Home Sweet Home, But Whose Name is on the Deed?

Many unmarried couples purchase a home together. However, the surviving partner might face significant challenges without a will or living trust that clearly outlines ownership and inheritance wishes. Here’s why:

Intestacy Laws: If you die without a will, your state’s intestacy laws dictate who inherits your property. These laws typically favor spouses and blood relatives, meaning your unmarried partner will be left with limited or no rights to the home you shared.

Tax Implications: Inheritance laws for married couples often come with tax benefits that unmarried couples don’t receive. The surviving partner could face a hefty estate tax bill, potentially forcing them to sell the home to cover the costs.

Title Matters: How you title your property significantly impacts what happens after death. Joint tenancy with rights of survivorship offers some protection, but this approach doesn’t address other estate planning concerns and may have unintended tax consequences.

✔ Providing for Your Children

Having children together adds another layer of complexity for unmarried couples. Here’s how a lack of proper estate planning can create significant hardship:

Guardianship Concerns: If one parent passes away, the surviving parent might not automatically have legal guardianship rights (especially if that person isn’t the biological parent, as is often the case with same-sex couples). In extreme cases, this could lead to legal battles with other family members or even state intervention.

Inheritance Complications: Without a will or trust, your children might not automatically inherit your assets as intended. Again, intestacy laws could mean your assets are divided in ways you wouldn’t have chosen, potentially leaving your children with inadequate financial support.

Blended Family Challenges: If either partner has children from previous relationships, the potential for conflict multiplies. Without clear documentation, children from previous relationships may find themselves at odds with the surviving partner, creating painful family rifts during an already difficult time.

✔ Beyond the Home: Protecting All Your Assets & Minimizing Taxes

Unmarried couples often accumulate significant assets—bank accounts, investments, retirement funds, etc. Without a plan:

Ownership Disputes Can Arise: If it’s unclear who owns what, it can lead to legal battles between surviving partners and family members of the deceased.

Unnecessary Tax Burdens: Unmarried couples often miss out on tax advantages available to married couples, potentially leading to a larger tax bill for the surviving partner.

Retirement Account Complications: Retirement accounts like 401(k)s and IRAs require specific beneficiary designations. Without these, your partner may have no claim to these assets, regardless of your intentions.

✔ Healthcare Decisions and End-of-Life Care

Perhaps the most immediate concern for unmarried couples is handling medical emergencies and end-of-life decisions:

Medical Decision-Making: Without healthcare directives, your partner may have no legal right to make medical decisions if you become incapacitated.

Hospital Visitation Rights: In some healthcare facilities, only family members can visit intensive care patients. Without proper documentation, your partner could be denied access during critical moments.

Funeral and Burial Decisions: Legal next of kin typically make funeral arrangements. Without documentation stating your wishes, your partner may have no say in how your remains are handled, even if you’ve discussed your preferences extensively.

✔ Digital Assets and Modern Considerations

In our increasingly digital world, estate planning must also address digital assets:

Access to Online Accounts: Your estate plan must specifically address digital assets, from social media to cryptocurrency, to ensure your partner can access them.

Business Interests: If you own a business, clear succession planning is essential to prevent disruption and protect your partner’s financial interests.

Pets: While many consider pets family members, the law views them as property. Specific provisions must be made to ensure your beloved pets receive proper care.

Don’t Leave Your Future to Chance

Estate planning isn’t just for the wealthy or the elderly – anyone who wants to protect the people and assets they cherish most. Creating a legally sound estate plan for unmarried couples is not just a good idea – it’s essential. But a traditional estate plan, DIY plan, or cheap legal plan isn’t sufficient. Instead, you need a Life & Legacy Plan.

I can help you create a tailored estate plan for your life and legacy. I’ll guide you to understand all the complexities and design a personalized plan that makes it all as simple as possible so that when one of you becomes incapacitated or dies, the survivor will have all the support they need without any of the mess. This includes:

Clearly Addressing Ownership of All Assets and Avoiding Probate: I’ll work with you to determine the best way to handle the transfer of all jointly and separately owned assets—including your home, bank accounts, investments, retirement accounts, and personal property—in a way that minimizes tax burdens, avoids probate court, and ensures a smooth and seamless transition for your surviving partner. This means your loved ones can focus on healing and honoring your memory, not battling legal complexities.

Establishing Guardianship and Financial Provisions for Children: If you have children together or separately, I will work with you to legally designate guardians, establish trusts if needed, and ensure your children’s financial well-being is protected. If you have children from previous relationships, I will take extra care to minimize or eliminate potential conflicts between your children and your surviving partner, ensuring a smoother transition and honoring your wishes.

Planning for the Incapacity of Either Partner: I’ll establish powers of attorney and healthcare directives so your partner can seamlessly manage your affairs and make medical decisions if you cannot do so yourself.

Your Next Steps for Peace of Mind

Don’t wait until it’s too late – take proactive steps today to protect the ones you love. Schedule a consultation with me to get started. Together, we can build a plan that provides clarity, security, and peace of mind for you and your family, no matter what the future holds.

Tags Estate Plan, Estate Planning, Personal Family Lawyer, Unmarried Couples

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