Pride Month: Estate Planning for LGBTQIA+ Families

As Pride Month begins, we celebrate the progress made toward equality while acknowledging that LGBTQIA+ individuals, couples, and families still face unique legal challenges. Despite the landmark decision in Obergefell v. Hodges that established marriage equality nationwide, gaps in legal protection remain that can affect everything from healthcare decisions to inheritance rights. Having proper estate planning is not just important—it's essential for ensuring your wishes are honored and your loved ones are protected.

The Evolving Legal Landscape for LGBTQIA+ Families

While significant legal advancements have been made for LGBTQIA+ individuals and families, the legal landscape remains complex and varies by state. Marriage equality was a tremendous step forward, but it didn't solve all the legal challenges faced by the community.

For example, in some states, legal recognition of non-biological parents in same-sex relationships can be tenuous without proper documentation. Healthcare directives might be questioned if estranged biological family members challenge a partner's right to make decisions. Assets without proper beneficiary designations could end up with distant relatives instead of long-term partners.

Many LGBTQIA+ adults in the U.S. are in committed relationships or raising children. They are also often less likely to have estate plans in place compared to their heterosexual counterparts, leaving them particularly vulnerable to legal complications.

Relying solely on marriage equality for protection is insufficient. Without comprehensive planning, you risk leaving crucial decisions about your health, assets, and loved ones to a system that may not align with your wishes. But with proper Life & Legacy Planning, you can create legal safeguards that respect your unique family structure and ensure your voice is heard.

Traditional Estate Planning vs. Life & Legacy Planning

Traditional estate planning typically focuses on creating basic documents like wills and powers of attorney. While these documents are important, they may not address the unique considerations of LGBTQIA+ individuals, couples, and families, and can even provide a false sense of security that results in a failure of the documents when they are needed most.

For instance, a standard will may distribute assets according to your wishes, but it doesn't prevent the probate process—a public proceeding where estranged family members could contest your decisions. Traditional planning also tends to be transaction-based, with minimal updates over time, despite changing laws, assets, and life circumstances.

In contrast, Life & Legacy Planning takes a more comprehensive approach. This planning methodology considers not just your financial assets but your entire legacy—including your values, experiences, and hopes for future generations. It's designed to evolve with you throughout your lifetime, adapting to changes in your relationship status, family structure, and the legal landscape.

Key Elements of Life & Legacy Planning

• Education: Understanding what would happen to you and your loved ones if you become incapacitated or die without a plan.

• Asset Inventory: A thorough inventory of your assets—not just financial assets but also intangible assets like values and life lessons you want to pass on.

• Healthcare Decision-Making: Comprehensive planning to ensure your chosen advocate can speak for you without unnecessary legal hurdles.

• Regular Updates: Ensuring your plan is reviewed and updated as laws change and your life evolves, so it works when you and your loved ones need it to.

  
  

Most importantly, when you work with me to create your Life & Legacy Plan, we’ll take into account the unique challenges you and your loved ones might face, creating robust protections tailored to your specific situation.

Essential Protections for LGBTQIA+ Individuals and Families

For LGBTQIA+ individuals and families, certain legal protections are particularly crucial. Let's explore the key elements that should be part of your Life & Legacy Plan:

Healthcare Documents

• Healthcare Power of Attorney: Ensures your chosen person can make medical decisions if you cannot, preventing biological family members from overriding your partner's authority.

• Living Will: Specifies your wishes regarding life-sustaining treatment, sparing your loved ones from having to make difficult decisions without guidance.

  
  

Financial Protection

• Financial Power of Attorney: Allows your designated representative to manage your finances if you become incapacitated. Without this document, your partner or chosen family might have no legal right to access your accounts to pay bills or manage your affairs, even if you've been together for decades.

  
  

Inheritance Planning

• Trusts: While marriage provides some inheritance rights, a comprehensive trust can offer stronger protections. Trusts can help avoid probate, provide privacy, and ensure your assets pass to your chosen beneficiaries regardless of potential challenges from family members.

  
  

Protecting Non-Traditional Families

• Legal Parentage: For same-sex couples with children, additional protection is critical. This might include adoption paperwork, parenting agreements, or guardianship designations to ensure your children remain with your partner or chosen guardian if something happens to you.

  
  

Digital Legacy Planning

• Digital Assets: In today's digital world, your online presence and digital assets need protection too. Properly documenting access information and your wishes regarding social media accounts, cryptocurrencies, and digital files is increasingly important.

  
  

Creating Your Life & Legacy Plan

Creating your plan begins with finding the right advisor, someone who understands the unique considerations of LGBTQIA+ individuals, couples, and families. As a Lawyer, I specialize in creating comprehensive plans that address not just the standard elements of estate planning but also the specific concerns of the LGBTQIA+ community.

The process starts with a Life & Legacy Planning Session, during which we'll discuss your family structure, goals, and concerns. I'll explain what would happen to your loved ones and assets under current law if you became incapacitated or passed away without a plan. Then, together, we'll design a plan that reflects your wishes and provides maximum protection for your family.

Once your plan is in place, we'll meet regularly to review and update it as needed. Laws change, life circumstances evolve, and your plan should adapt accordingly. This ongoing relationship ensures your plan remains effective and relevant throughout your life.

How to Get Started Now

Pride Month is a time to celebrate identity, love, and family in all its diverse forms. It's also an ideal opportunity to ensure those you love most are legally protected. By creating your Life & Legacy Plan with me, you can have confidence that your wishes will be honored and your loved ones will be cared for, regardless of how laws or attitudes may change in the future.

Take the first step toward comprehensive protection for yourself and your loved ones. Schedule a complimentary 15-minute call and get started today.

Internal Resources for Further Reading:

• Protecting Your LGBTQIA+ Family: A Pride Month Guide to Estate Planning for Non-Biological Parents

• Estate Planning Strategies for Same-Sex Couples

• Estate Planning Pitfalls – 3 Mistakes That Could Make Your Estate Plan Worthless