Legal Question in Tax Law in California
Assets shared; not married; how to protect just in case
My significant other and I have acquired some considerable assets in the last 2-3 yrs. Everything is in my name for his IRS purpose, until they are resolved. If something happens to me, I would him to have the assets; but protected; would a limited partnership agreement or a trust do this. Need to know; I have a long term illness and want to plan accordingly.
Thanx
Asked on 9/08/99, 4:25 pm
1 Answer from Attorneys
MYRON LEWIS
MYRON LEWIS
Re: Assets shared; not married; how to protect just in case
Several options:1. Marry the person 2. Creat a Will, w/him as the Beneficiary 3. Create a Trust
The Lmtd. Ptship. is a poor idea.....Good Luck w/your plans...act now!!!
Answered on 9/09/99, 12:38 pm
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