In June 2015, the U.S. Supreme Court ruled that the Constitution guarantees the right to same-sex marriage which affords them most of federal privileges available to traditional couples. Same-sex marriages are now recognized as families by the state and federal government. Accordingly, they are granted the same benefits with respect to estate planning, guardianship of minor children, and health care proxy designations.
Because of the Court’s ruling, same-sex married couples are now on even ground with other married couples as it concerns federal taxes and most federal benefits.
Use Estate Planning to Protect Yourself and your Family
Our firm helps members of the LGBT community plan, protect and preserve their rights and estates in a wide range of circumstances, including:
- Setting up Revocable Living Trusts to maintain privacy, name disability Trustees and avoid probate.
- Setting up Irrevocable Life Insurance Trusts for asset protection purposes
- Setting up Medicaid Trusts
- Drafting Health Care Proxies, Durable Powers of Attorneys and Living Wills
- Where children are involved, obtain and review birth certificates and adoption orders
- Protecting custody of the family’s minor children
- Protecting the survivor’s right to manage the finances of the family
- Protecting family members’ rights to make medical decisions for each other and their minor children.
- Protecting family members’ rights to make financial decisions
- Ensuring that state probate laws do not override the family’s wishes regarding inheritance
- Correctly designating beneficiaries on life insurance and other policies
- Minimizing the impact of estate taxes and income taxes on the surviving partner
- Minimizing will contests by family members over bequests and other estate documents
- Granting the right to make burial decisions to the surviving partner over other blood relatives
Licensed in New York and New Jersey. Contact our firm for a consultation.