It can be difficult to bring up the potential needs one may have in the future or what one wants to happen to his or her assets after passing. A conversation about estate planning can be complicated and emotional, which is why many avoid it. In reality, Florida adults of all ages need some type of legal and financial plan for the future, and it is critical to discuss this with a partner as soon as possible.
A difficult conversation
Estate planning is particularly important for long-term couples that are not married yet have an established financial history together. If there is no will, the death of one of the partners may leave the other without a rightful claim to certain types of assets, money and accounts. A will can clearly outline what one wants to happen to property, including specific directions for the care and provision of a partner.
The rules for inheritance are complicated, and lack of a will could make the settlement of an estate difficult. Even if two partners have been together for decades, the other partner may not have a right to inherit the property of the other. This exposes a partner to the potential for financial struggles and other complications, especially if he or she was dependent on the other.
It’s never too early to start
Domestic partners should not delay in having the critical discussion about their estate planning needs. It may be helpful to work with an experienced Florida estate law attorney to ensure the interests of each partner are protected. A complete estate plan can provide peace of mind for a couple and their loved ones.