What A Common Law Marriage Does To Your Estate Plan
Common law marriage is still in practice in Alabama, Colorado, The District of Columbia, Iowa, Kansas, Montana, New Hampshire, Oklahoma, Rhode Island, South Carolina, Texas, and Utah and should be factored into your estate plan if you live in any of these states and it uses
An estate plan is preparing for who will get your properties when you die and the existence of a marital union can have a substantial influence on your estate plan. There does not need to be a formal wedding or marriage license to have actually a one acknowledged as one. A marriage that is considered typical by the law can have implications on an estate plan in numerous ways.
When there is no will in location the South Carolina Intestate Succession laws govern where your assets will go. The presence of a common law marital relationship really depends upon evidence that the couple cohabitated for a year and if they held themselves out as wed. This means proof and arguments determine whether the enduring member of the possible marital relationship gets no properties or all or half of the possessions. Evidence of the possible marriage and not the intent of the parties figure out where the assets will go. A long period of time live in partner of twenty years might be left with nothing since there was no proof of the marriage or the girlfriend or partner of a year might get whatever because they jokingly told a next-door neighbor they were married one time.
It is better to formalize the marriage or put in composing that there is no marriage to avoid any misunderstandings of the existence or not of a marital relationship that will be thought about common law. It is even a better concept to make your intentions of where you want properties to go understood by making a will. It is a good concept to understand the status of your relationships before you make your estate plan or opt for the state issued default intestate plan. You can mention in composing that you do not intend to be wed if you do not wish for there to be a common marriage in location. You can likewise formalize a marriage that may or may not qualify to be a marriage by getting a marital relationship license and making it official through the state. taking either of these actions will help clarify your marital status and put it into your hands and take it out of the hands of a probate court to decide for you and your significant other.