Same sex couples are saying “I do” from the white sandy beaches of Panama City all the way to the Southernmost point of Key West. As of January 6, 2015, Florida became the 36th state to allow same-sex marriage.
As they celebrate their new matrimony, Wild Felice and Partners provides same-sex couples with key information to ensure that each partner is taken care of. The laws have changed; therefore the estate planning and asset protection plans have to change as well.
One of the options use to protect the assets of both partners is referred to as Tenancy by the Entirety. A Tenancy by the Entirety is a designation that only married couples can use and offers excellent asset protection benefits, including the following:
Benefits of Tenancy by the Entirety:
- Both spouses have an undivided interest in the property, with full rights to occupy and use it. As a result, neither spouse can transfer property without the other spouse allowing it.
- If one of the spouses gets sued or incurs a liability, creditors and lawyers cannot go after his/her property because both spouses own the property simultaneously.
- If one spouse dies, the other spouse automatically takes sole ownership of that property.
The lists of benefits could go on and on but we understand that you are in the throes of matrimonial bliss!
Wild Felice and Partners is dedicated to helping you understand the laws and make a seamless transition into your new marriage. As a legal couple in the state of Florida, we highly encourage setting up a free consultation to ensure that you and your spouse are protected.
Click here for a free consultation: http://wfplaw.com/Contact-Us.html