Estate Planning for the LGBTQ Community
Estate Planning is critical to ensure that upon your death, your assets are distributed in the manner which you desire. This is especially important within the context of the LGBTQ community where unfortunately there can still be high levels of conflict between LGBTQ individuals and their families. Additionally, significant changes to the law which legalized same-sex marriage across the country make it even more important to revisit or review existing estate plans as the legal act of marriage can have significant estate and tax considerations.
Process of Estate Planning
One of the most significant concerns raised by clients in the process of Estate planning is their desire to ensure that their children are well-taken care of in the event of one parent’s death. A properly drafted Estate plan is critical in LGBTQ families where one parent may not be the legal parent of the children or where one partner may wish to provide for their partner’s children in a trust but where they have not been legally adopted.
Additionally, if a person dies without a properly executed Estate plan, the law of the state where they resided will step in to guide the distribution of their assets. California law names spouses and blood relatives as intestate successors which means that blood relatives will stand to inherit even in circumstances where there may be an estrangement or discrimination between the deceased and their biological family.
Estate Planning for LGBTQ Community
Lastly, Estate planning is necessary to minimize conflict upon a death so that an estranged family does not have the opportunity to meddle or interfere with the affairs of the deceased. Through the use of properly drafted Trust, the assets of the Deceased can be distributed efficiently and privately without the need for court intervention and in a process where the access to information can be limited to the beneficiaries.
Contact Kushner Legal Today For Estate Planning Needs
Kushner Legal is proud to assist members of the LGBTQ Community with their Estate Planning needs. Contact Kushner Legal today to schedule a consultation.