Planning For Unmarried Couples

Making marriage available to same sex partners has become a subject of daily national debate. It is unclear which, if any, states will ultimately take this historic step [Massachusetts appearing poised to be the first]. It is similarly unclear what measures the federal government will take to block such steps and whether any such marriage ultimately authorized by a state would be binding for federal or local tax and inheritance purposes.

In light of the growing number of committed unmarried couples, both same and opposite sex, and the mounting questions over which, if any, "benefits of marriage" should be made available to them, a reexamination of basic estate planning principles under existing law would seem timely, if not overdue. In particular, from the planner's perspective, it is relevant to contrast the pitfalls and opportunities that are currently presented.