Those of us who appreciate collecting classic cars value the dedication and the passion of finding just the right vehicle to complete a collection. Even if you’re not in the market for a vintage vehicle, you’ve no doubt seen a collection parked in a driveway or barn that brought back some memories. Many people have similar relationships they’ve developed over time with a particular person. They’ve gathered priceless memories together and in many cases have built a life together. However, unlike a classic car, the law does not ascribe “value” to a partnership that exists out of the registry of state and federal entities. For those who have invested their lives in meaningful partnerships, it may come as a surprise to learn that their relationship may not be recognized by some states as a legal union, such as a legal marriage.
Are You Married? Do You Know? Within the United States, there are a number of states that allow legal unions. In places that have or have ever had common law marriages, a unique set of requirements must be met to establish such a union. Those who practice marital law will tell you that the requirements vary from state to state and that those who hold valuable assets like classic cars should shop around to find out which law is best for them. Those living with a partner in a state such as Arkansas must understand this question is not always easy to answer. Sometimes, even the law has a hard time making the determination. After all, there are more rules than players on the team when it comes to marriage, including: Instruction – the couple must be willing to enter into the union. Consent – the couple must agree to be married. Cohabitation – the couple must reside together. Intent – the couple must represent as a married couple to others.
Like Collecting Cars, Be Mindful of the Money Of course, not everyone understands such marriage requirements as found in states that recognize common law marriage. And, that’s okay. So long as you can value your relationship, don’t assume the state will do the same for you and your partner. And, as the value of a classic automobile relies on several factors such as make, model, and age, the same is true of a marriage. Namely, the laws in your jurisdiction, and how such laws relate to other places you may call home or where you or your spouse may own valuable assets.
Stick to the Basics (Right?) In some jurisdictions, such as Georgia, the previously mentioned requirements of intention and representation of the relationship may be all that is needed to validate your relationship as a legal marriage. That is, of course, until the break-up or dissolution occurs. Then, marriage and non-marriage jurisdictions differ from each other even more so. The support of your legal assets during such a situation depends on how such state laws and their fellow states value a relationship. Of course, most of us know great pairings such as steak and potatoes, as well as longtime partners in crime, but we often forget how such combos relate to state of residence for legal purposes. And, you certainly should not forget the price-things can get pretty steep if you fail to plan ahead when it comes to drafting an estate plan or a pre-nuptial agreement. That being said, an estate plan is like any car in the garage-it needs regular maintenance. Without proper documentation and the input of your attorney, the value of your estate may not be what you thought even though everyone else covets your prized possession. So, don’t let your legal partnership or estate planning efforts go to rust without professional review and consistent advice. Like preserving the value of a classic automobile, make sure your relationship is durable before you hit the road.