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Estate Planning for Cohabitating Couples

Attorney in Raleigh NC: Cohabiting Couples

Hello! Thanks for joining us. In today’s post, our attorney in Raleigh NC is going to finish up the discussion on cohabiting couples and their right to an estate plan. Below, you’ll find a few ways to deal with a situation that all couples, married or unmarried, could face at some point during their relationship.
Ended Relationship. When two people are married, there are several things that should be done by law before the union is ever considered “legally ended.” Those that are not married have an easier time ending their relationship, as there are fewer legal matters to at
However, married couples who choose to divorce will have certain legal rights to belongings, property, and other assets that the couple might have owned jointly. Under North Carolina law, equitable distribution of marital property, alimony payments and post-separation support are given a fair ruling in court. Cohabiting couples that share property or assets do not have these rights.
There are a few options cohabiting couples have in terms of the disposition of assets in the event their relationship ends. A property ownership agreement can be put in place to outline the distribution of assets. During a separation, unmarried co-parenting couples might have complications concerning custody of the children, as well as child support. These and other issues can be partially managed in advance, with a domestic partnership agreement.
Marriage offers legal protections that cohabiting couples aren’t offered without creating and annually reviewing an estate plan. This estate plan will ensure that the needs of each partner and/or children are provided in the event of an untimely death.
No one plans for an untimely death.  It’s important to protect your assets, children and loved ones in case the unthinkable should occur.  Contact our estate planning attorney in Raleigh NC for help creating your estate plan.
To make sure your estate plan contains everything that you consider to be of value and is updated regularly, contact Eldreth Law Firm, PLLC, attorney in Raleigh NC. We will work with you to make sure your estate plan is accurate and up-to-date.

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