Love is undoubtedly the most profound and cherished thread that weaves us all together, and there are many different ways to express our love to the people who mean the most to us. Often when we think of showing our love, we think of bouquets of flowers, surprise gifts, and meaningful notes. But an often overlooked – and incredibly meaningful – way of showing your love is to put that love into a plan for the future.
While estate planning may seem like a realm of financial jargon and legalities, it is, at its core, a tangible expression of your care for those closest to you.
In this blog, we’ll look at why adding your partner to your Will and estate plan as a whole isn’t just a romantic gesture but the ultimate act of love.
Providing Care and Protection
Estate planning is typically associated with financial matters and legal technicalities, but at its core, it’s an expression of love for those we hold dear. It’s about not leaving a mess for the people you love. It’s about providing comfort and security to your loved ones long after you’re gone. And, when you include your partner in your estate plan, you are solidifying the foundation of your love and commitment, ensuring they are cared for when you can no longer be there in person.
One of the most tangible ways to demonstrate your love is by securing your partner’s legal and financial future through thoughtful estate planning. While a Will, Trust, and other estate planning documents are valuable, if they are not properly counseled, regularly updated, and combined with additional planning tools (such as a Kids Protection Plan® if you have minor children), your loved ones could be left with an expensive mess.
If you are married, your spouse already has some rights in the event of your incapacity or death, but that does not mean they have automatic access to your accounts, or even to make your health care decisions for you the way you would want. If you are not married, your unmarried partner or partners would have no rights to anything in the event of your death or incapacity. Truly the greatest gift you can give your beloved is a documented, well thought out plan.
Avoiding Legal Complications
Love conquers many things, but we have to acknowledge that legal matters often require a bit more than just sentiment. Without a well-counseled, prepared and updated estate plan, your partner might find themselves entangled in legal complications when it comes to inheriting assets if something happens to you. In fact, if you and your partner aren’t married, they won’t inherit anything at all!
By including your partner in your Will and overall in your comprehensive estate plan, you get to ensure they’ll receive what you would want them to in the event of your loss. You also spare them the stress of navigating legal intricacies during an already emotionally trying time.
Protecting The Life You Built Together
Maybe you and your partner have made the decision that marriage just isn’t for you, or maybe you’re putting off marriage plans just for the time being. In either case, having a plan in place isn’t something you want to put off until you’re older. Chances are good that you’ve already begun to build a life together that’s worth protecting.
Whether it’s the charming house you turned into a home or the vintage car you spent countless road trips in, shared assets are more than just possessions – they’re a part of your shared history. Including your partner in your estate plan ensures that these shared treasures are passed on smoothly, preserving the memories you built together.
And if you have children with your partner, Life & Legacy Planning takes on an even greater significance. If your partner isn’t biologically related to your children and hasn’t legally adopted them, there is no legal guarantee that your partner would be able to care for your children or even visit them if something happens to you.
Creating a Kids Protection Plan® or your kids in your estate plan is an act of profound love and responsibility. By ensuring your partner has legal authority in matters of your children’s well-being, you’re displaying a commitment to everyone’s future happiness and security.
Helping You Show The One You Love Just How Much You Care
Love binds us together – but proper estate planning, and specifically Life & Legacy Planning® puts the love you have for your partner and your family into action. It’s not just about assets and legalities; it’s a declaration of your commitment and a promise to provide for your loved one even when you’re no longer physically present.
After all, in matters of the heart, there’s no gesture more profound than securing a future together.
If you want to show your partner just how much you love them, contact us today to learn more about our Life & Legacy Planning® process to get started.
This article is a service of Davidek Law Firm, PLLC. We don’t just draft documents; we ensure that families and business owners make informed and empowered decisions about life and death, for themselves and the people they love.
