Asset Protection for Partners

Unmarried partners often work together to build assets and property during their lifetime together.  However, those assets may not transfer to your partner upon your death.  A Florida estate planning attorney can help you establish a plan to ensure your partner is taken care of and vice versa.  Not having a properly prepared estate plan can result in assets going into probate upon death of either party and not going to the partner.  Probate is often a lengthy and costly process.  You will want to avoid this if at all possible.

As Florida estate planning lawyers, we can offer advice and suggestions on ways to ensure your wishes are carried out upon your death.  Our next series of articles will discuss some ways unmarried partners can protect their assets.

Joint Property

In most cases, jointly owned property transfers to the surviving party. Assets that only list one party as owner may be subject to probate and/or be contested by the deceased partner’s family upon death.

Beneficiary

Whomever you designate as a beneficiary on your bank accounts, retirement accounts, investments, life insurance etc. will receive these assets upon your death. If you wish for these to be transferred to your partner, be sure to name them as your beneficiary.

Our next article will discuss more ways you and your partner can protect your assets.

Pittman Law Office is comprised of a team of Florida estate planning attorneys, probate lawyers, and qualified staff to handle all of your estate planning needs.  We are the preferred estate planning law firm serving The Villages and surrounding areas.  Give us a call to learn more or to schedule a consultation today!