For the Love of Your Partner . . . Plan Now
February 1, 2010
Gina M. Barry, Esq.
Times have changed, and many committed couples are now choosing to delay marriage, sometimes indefinitely. Although they are not married, they present themselves as a married couple would. They live together. They raise children together. They share their assets and their debts. While this arrangement may allow the happy couple to live in bliss while each partner is alive and well, trouble begins when one or both of the partners lose their competency or pass away. Your partner, which is essentially a boyfriend or a girlfriend, does not have the same legal rights as would your husband or wife. In fact, their legal rights are usually no more than a stranger would have. Fortunately, with proper planning, you can provide your partner with appropriate legal rights even if you are not married.
The first potential issue to be addressed is incapacity. If you lose your capacity, your partner will have no power to handle your financial affairs unless you have executed a valid Durable Power of Attorney. A Durable Power of Attorney i...
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by:
Gina M. Barry
Prime
February 2010
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