Many couples in long-term relationships assume that because they’ve been together for a set amount of time, they are given the same legal rights as married couples. While in some states this may be true, in Georgia, common law marriage is not recognized. This means that even though you and your partner might share finances, own property, or even have children together, you are still not considered legally married unless you have obtained a formal marriage license.
How does this factor into estate planning? Well, for couples in long-term relationships, without a properly executed plan, you might face serious risks. If you or your partner pass away, it will be Georgia’s intestate laws that determine how their property is distributed. Unfortunately, in most cases, a long-term partner that is not legally married, will inherit nothing. Their assets may be passed to their children, parents, or even other, distant relatives. Even if you owned a home together, it may still be subject to complex legal challenges. In the event that you or your partner become incapacitated, you may have no authority to make medical or financial decisions.
These things may lead to lengthy court proceedings, family arguments, and emotional turmoil for couples who assumed their shared life provided protection.
With a properly executed estate plan, you and your long-term partner can ensure the other is taken care of in the event of loss. You can also ensure that they are the ones who can speak and make decisions for you in the event of incapacity. For anyone in a committed relationship in Georgia, assuming that a shared life automatically offers legal protection is risky. Proper estate planning is the only reliable way to protect long-term partners and secure peace of mind.
