California Unmarrieds, Singles and LGBT People Should Check Out Changes in The Domestic Partnership Laws
AB 205, signed into law by Governor Gray Davis in 2003, became effective on January 1, 2005. The regulations under AB 205 changed certain legal relationships between existing registered domestic partners. Registered domestic partners now have the same rights and obligations between themselves as do married spouses under California law, with only limited exceptions. Registered domestic partners are now subject to some California community property laws retroactive to the date you registered as domestic partners. Also, after January 1, 2005, in many if not most cases, a court procedure comparable to dissolution of marriage is required in order to terminate a registered domestic partnership.
People who are or wish to become registered domestic partners in California are strongly advised to see an attorney to discuss their legal rights and responsibilities under AB 205.
Having And Holding Property whether as a single person or as an unmarried couple needs closer attention than it's usually given when buying property together, or wanting to "share" the property owned by one of you. Learn about the various advantages and disadvantages of holding property with someone to whom you are not married: Joint Tenancy; Tenancy in Common. There are potential tax consequences to each title.
Living Together Contracts are necessary in order to regulate unmarried domestic lives. Unmarried couples should draw up a living together agreement early on in the relationship; you may amend it over time. This is especially important where there are differences in wealth, income, property holdings ; how you pay for the things you purchase; and your monthly/annual household expenses. A "living together agreement" helps you break up with less financial and legal hassling.
Financial Security Is Often Overlooked between unmarried partners, and among singles as well. Read a little to learn what the issues are, and see a financial adviser if only to put your "estate" into perspective. Unmarried couples may either suffer the consequences of the Tax Code and traditional insurance products, OR take advantage of both. Unmarrieds do not get each other's Social Security at the death of a partner, as do married couples; and some retirement benefits (government employees) are marriage-bound as well. Check out life insurance policies to take care of your lover or loved one(s) upon your death.