Same-sex estate planning
There are some unique circumstances that same-sex couples face when estate planning. These often make most couples shy away from estate planning. However, it is still one of the best ways for you to ensure your assets are in the right hands in the event of your death.
While same-sex marriages are legal, you will still have to face the patchwork of state laws that got implemented years before. You must, therefore, ensure that all past relationships remain in the past. This will guarantee that the assets flow to the other spouse after death. Couples who break up and do not dissolve their marriages often find themselves in a tough place.
If you have kids, the will is crucial. It allows everyone to understand what you want. There is a lot of confusion in situations where there are kids out of wedlock, and there is no clear direction on how the assets should get divided. It is also a good idea for same-sex couples to give their spouses a power of attorney. It is a good idea because it helps your partner to handle your health and finances when you are unable to.
If you plan to leave your estate to your kids, you must make the adoption part of your estate planning. Since, in most cases, only one parent is related to the child, step-parent adoption is necessary. This way, it will be clear that those are your kids.
Never assume that you can wing it. DIY estate planning is not a good idea for shttps://studygroom.com/the-determination-of-an-effective-strategy/ame-sex couples.