Special Estate Planning Concerns for the LGBT Community
Estate planning is necessary for anyone who has property or assets they want to hand down later, as well as helpful for establishing health care directives, any necessary trusts, and more. This is important no matter what your sexual orientation is, and like most, you may find that you are having trouble initiating the process due to numerous concerns. Perhaps you don’t feel like you have enough money to necessitate an estate plan, or maybe the whole process just seems too intimidating to deal with. You may have little spare time due to a busy schedule, and just keep putting the task off—or, you may not want to contemplate the idea of death and how to divide assets, as well as planning for any type of unfortunate incapacitation.
While estate planning can be complex for anyone, depending on the type of assets and property you possess, if you are part of the LGBT community, you should consider other special concerns as well when putting together a plan. Enormous strides have been made in the US, and in Georgia, culminating in the right for same-sex couples to marry; however, there are still specific legal issues that must be considered to protect yourself and your family as you plan your estate.
The highest priority should be given to creating a will, as without one, your partner may be left out of the estate overall. Because the biological family is still often given preference over the life partner, you should take extra precautions in estate planning and setting up guardianships, all of which can be outlined by a skilled attorney like Stephen M. Scriber.
You will also need to consider the following basics as they apply to the LGBT community:
- Succession planning – Choose wisely in selecting someone to act in your place after death or if you became incapacitated. Consider all you are responsible for now, from children to extended family members, your spouse or partner, your business, and more.
- Tax planning – While there are usually not estate or inheritance taxes in Georgia, your estate planning attorney should review the entire scope of your assets regarding any tax issues.
- Completing important documents – This includes documents such as the will, advance directive for health care, and paperwork regarding guardianships and trusts. If you and your same-sex partner are not married, you may want to outline permissions in the advance health directive for them to be at your side, as well as claim your body and have it prepared for burial later.
- Assigning an executor – This should be a trusted and competent individual to serve in your place for managing your assets after you are gone, handling the entirety of your estate and distributing property as designated by you.
Because estate planning needs for the LGBT community can be more intricate, please contact Scriber Law Group for a free consultation where we can answer your questions and offer further information. We will handle your case with honesty, integrity, and sensitivity. We also help clients with the following:
- Domestic partnerships
- Wills & Power of Attorney
- Name Changes
- Birth Certificate Amendments
Please call (404) 939-7562 or contact us online for a free consultation.