Very important Blog Anthony.One may be in a relation for many years and be left in the cold.  If you do not have a Will, your property goes according to the laws of intestate succession.  What this means is.  Your property goes first to your spouse and your children.  If you not have a spouse or children, it goes to your parents.  If your parents are deceased, it goes to your siblings, and so on.  If you are in a same sex relationship you need a will and a health care directive.  Otherwise, your partner will get nothing. Even with a joint tenancy with right of survivorship, one would need still a will for your personal property inside the house, from furniture to personal items to be transfered to your partner. Thank you for the information.A most most important blog. People in a same sex partnership or hetero sexual couples should really look at this carefuly.A bookmark.

Lloyd Thanks for the comment and for stressing the need for a will - important for everyone regardless of age, sexual orientation, financial position, etc.

TulsaMetroRealtor.com

Hi Anthony, Thanks for posting this. It is very important when we are worknig with unmarried couples purchasing together that they are made aware of their options. And when in doubt, have them seek legal advice. I agree with Lloyd that a will is a must.

Anthony...

Now see. By the time I get here Bubba has already come and gone and left my comment for me to read. LOL.

Geez...Oh! I know...When in doubt give the Lawyer the money. Wink. Wink.

TLW...ROAR!

A key part of forming a partnership is to document the nature of the dissolution of that partnership, via a "pre-nup," whether it is a business partnership or personal relationship.  Some of the dissolution is covered in State Laws, but that is a terrible first line of planning, IMO.

It is common to be the first one to mention to people that they need to consider the ramifications of their form of ownership and relationships.  I see issues often when working with married or divorced Sellers, and that can be during the denouement of a relationship.  In  North Carolina, the watchword is "One to Buy, Two to Sell."   Also, leads to interesting conversations in any situation involving a married couple with only one name on the deed.

"It's MY house according to the deed.  S/he isn't on any of the paperwork.  Heck I owned it with my EX, late husband, etc."  Well, S/he is on a marriage certificate, right?  S/he has SOME sort of interest, and you might consult your attorney for confirmation.

Met an "investor," who wanted me to list and he would sign for his brother.  Even had a POA. 

ME:  "What about your sister-in-law?  Do you have a POA for her too?"

HIM:  "Don't need one.  She isn't on the deed."

ME: "She's on the note, and they're married, right?"

HIM: "Yeah, but she's not on the deed.  She don't need to sign."

At loggerheads, we parted.  I have this "One to Buy, Two to Sell" conversation routinely, usually with better results.  But it is a little stickier with FSBO Sellers who already begrudge the existence of Realtors.

I'm very happy you posted this. I'm currently in this situation with clients. It's the second time I've been involved in this situaiton with gay clients. It's important knowledge.

Anthony,

Thanks for the post. I agree with Lloyd, we have been empowered with the knowledge and it is incumbent upon us to use it in educating our customers about their options and the ramifications.

I cannot stress enough the need for this kind of planning.  My partner and I had been together eleven years and we had not taken care of any of this - no wills, power of attorneys, etc.  Then, in 2002, Dennis was involved in a severe automobile accident.  On the afternoon it happened, I was working in the garden when someone from his office called and told me to get to the hospital.  I didn't even change clothes.  Got to Barnes Jewish Hospital and told them that I was Dennis' partner, and I wanted to see him.  They told me they were working on him and for me to wait.  I waited for what seemed an eternity; actually it was at least an hour, probably longer, I don't remember.  No one came to get me or tell me what was going on.  Finally, I went to the desk nurse and threw a holy fit.  They did finally let me go in as they were preparing to take him into surgery.  They had gone through his wallet and somehow got his Mom & Dad's phone number.  They live two hours away and were both sickly themselves.  They called them to get permission to do the surgery, scaring them horribly, when I was sitting in the waiting room.  I would have known nothing about what was going on had I not made a scene at the desk.  I could have at least given them the information they needed, but they didn't even ask...

Dennis' skull was crushed, and he had developed a blood clot on his brain.  During the surgery, they removed the clot and inserted three steel plates to hold his skull together.  What a horrible night.  Most of Dennis' family came up, my sister and her husband, and a number of friends came to be with me.  An uncle of Dennis' showed up before his Mom, and the doctors actually conferred with him, rather than talking with me.  If I hadn't been so terrified that Dennis would die, I would have been furious.  Finally, about 3:00 am, I was exhausted and slept for a couple of hours on the hospital waiting room floor (have you ever noticed how uncomfortable the chairs are?).

This is how wonderful Dennis' family is;  the next day, Dennis' mom and sister signed Dennis' power of attorney over to me.  I had called our attorney and she had gotten the paperwork together.  She had told us before that we needed to do this, but we had always been too busy.

Dennis did come home at the end of the week.  I was scared to death.  He was in a lot of pain.  He did not remember anything about the wreck, did not know where he was.  I had to have someone stay with him during the day, so I could get some work done.  I was afraid he would wander off and not know where he was.  There was also the fear that he would have seizures (thank God he never did). 

That was a tough year.  Dennis was unable to work for most of it.  He suffered severe headaches daily, and he also had to deal with the pain of leg/hip nerve damage.  He endured physical therapy for months.   He had memory loss, and still does not remember the wreck to this day.  He still deals with headaches, although not as severe as the first year.  He will most likely have them the rest of his life. 

As soon as he was able to, we had our wills, powers of attorney, medical directives completed.  One copy of each is in each vehicle, as well as the safe.  Our executors each have a copy.   I've presented it to the hospital on several occasions since, and there's not been a bit of trouble.  We have told everyone we know about the importance of taking care of the paperwork to protect yourselves.  Don't end up in the situation we were in.  Luckily, we have families who support us and our relationship; others may not be that lucky.  This April 19, we will have been together for 16 years...

Dennis pulled through the surgery

Would like information from Weekend Today Show May 5, 2007 concerning unmarried couples and real estate. There was a list of four or five points for the couple to consider, like a partnership agreement, that I think would be helpful before a purchase. Does anyone have all the suggested documents and agreements? Thank you. Carolyn Angelo

Carolyn  There are actually companies out there that sell "packages" of legal forms for use by GLBT couples such as RainbowLaw.  However, I'd recommend seeking the advice of an attorney rather than trying to DIY.  To find out what laws apply in your state visit HRC.org.