Regardless of your state’s laws regarding same-sex marriage, same sex couples can and should start protecting themselves and their future with vital estate and financial planning.

Legalizing same-sex marriage within state laws gives same sex couples equal inheritance rights in those states. However, if a state has not legalized same-sex marriage it is important for same sex couples in those states to provide for each other through carefully crafted estate plans.

Recently, the Nashville Business Journal published “4 key steps to creating a formal estate plan for same-sex couples.”

The list includes:

  • Create the basic documents – The first step is to create the basics such as wills and powers of attorney.
  • Review and adjust beneficiary designations – Life insurance and retirement account beneficiaries need to be adjusted.
  • Consider Joint Ownership – Couples can hold important property jointly so the surviving partner will automatically inherit the property. Think personal residence.
  • Consider using a trust – Trusts can be used to make sure property is divided the way that you see fit.

Of course, it should go without saying that all of the above should be done with the assistance of an estate planning attorney for the best results.

Do You Need To Speak With An Attorney About Estate Planning?

If you need to speak with an experienced estate planning lawyer please contact us online or call us directly at 800.756.5596 to claim your space at one of our free, informative seminars. Your attendance will qualify you for a discount for our estate planning services. We proudly serve clients throughout California with offices in Torrance, Newport Beach, Orange, Woodland Hills and Pasadena.

Philip J. Kavesh
Nationally recognized attorney helping clients with customized estate planning guidance for over 40 years.
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