Domestic Partner Estate Planning
With the divorce rate on the rise many people are choosing to live together without getting married.
Arizona does not recognize common law marriage so if you choose to cohabitate and not get married you will not have any rights with regard to your partner.
For example, you will not have any right to assets accumulated or debts incurred, no right to inherit and no right to make medical decisions or burial arrangements for you partner.
So, if you choose a domestic partner relationship there are steps you can take to provide your partner with the legal right to inherit, care for you if you are sick and manage your finances, in the event you are unable.
Some of the important documents would include your Last Will and Testament, a Revocable Trust, Financial Power of Attorney, Heathcare Power of Attorney with Living Will and possibly a Beneficiary Deed.
There are laws in place for those that choose to marry. For those that choose not to, you have to take action to create a plan to care for yourself and your loved one.
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