
Modern families are becoming more complex with every passing year. Now more than ever, it’s common for people to live in a long-term committed relationship without getting married. A report by the U.S Census Bureau has shown that the number of adults in unmarried relationships has gone by 29% since 2007. Roughly half of them are younger than 35 years. Since intestate succession laws protect lawfully wedded couples, the need to have an estate plan for unmarried couples is more important than ever. If you or your partner dies or become incapacitated, your assets will automatically pass on to your parents, children, or kin. If you are an adult in cohabiting relationship, you should look for an estate planning law firm Virginia Beach for consultation.
Why should unmarried couples consider having an estate plan?
Estate planning allows a person to manage their estate and assets when they die or become …