What estate and financial planning steps are particularly important for unmarried couples?
The following steps are particularly important for unmarried couples: • Prepare wills. If both partners make out wills, the chances are that the intentions expressed in the wills will be followed after one partner dies. If there are no wills, the unmarried surviving partner will probably be left high and dry. • Consider owning property jointly. Owning property jointly with right of survivorship is a way of ensuring that property will pass to the other joint owner on one joint owners death. Real property and personal property can be put into this form of ownership. • Prepare a durable power of attorney. Should you become incapacitated, the durable power of attorney will allow your partner to sign papers and checks for you and take care of other financial matters on his or her behalf. • Prepare a health care proxy. The health care proxy (sometimes called a “medical power of attorney”) allows your partner to speak on your behalf when it comes to making decisions about medical care, should
