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4 estate planning considerations for LGBTQ+ individuals

On Behalf of | Jan 29, 2025 | Estate Planning | 0 comments

Estate planning is important for avoiding future catastrophe if you become unable to make decisions for yourself or have not planned for what happens to your property when you die. Estate planning can be tailored to your needs, and LGBTQ+ individuals may have good reason to consider their estate planning options. In particular, without proper estate planning, non-spouse partners could be excluded from decision-making and inheritance.

If you haven’t made your estate plan yet, here are four things to consider.

  1. Estate planning helps when you are not married

Married couples enjoy certain benefits, such as shared ownership of most marital property and protections for making emergency medical decisions. Since Pennsylvania eliminated common law marriage after 2004, unmarried couples cannot automatically receive these benefits.

Estate planning documents can give you and those closest to you many of the protections of married couples, including who can use your funds to pay your bills or who can work with your doctors if you can’t do so yourself. An estate plan can offer guidance on your wishes and ensure that they are carried out by those you trust the most.

  1. Making medical decisions

It is important to consider who will make medical decisions if you become incapacitated. Through a medical power of attorney, you can designate your partner or someone else as your medical agent. Without an authorized agent or guardian, Pennsylvania law dictates that one’s closest relatives can make decisions when you are incapable of making those decisions yourself.

  1. Making financial decisions

Likewise, a financial power of attorney can be used if someone needs access to bank accounts or to make other financial transactions, such as when dealing with real estate. Unlike medical decision-making, if you don’t choose an agent, your friends or family may need to seek guardianship over you to manage your finances, which involves notifying your closest relatives.

  1. Dying intestate

If you do not have a Will, you are considered to have died “intestate.” Property that passes into your estate would then pass to your lawful spouse and children, including adopted children. If you do not have a spouse or children, then it will pass to your parents or other next of kin. Depending on your situation, this may not be what you want.

Without an estate plan, your wishes may ultimately be decided by courts or the government instead of you. It is important for everyone, including LGBTQ+ individuals, to know your options and build an estate plan that works for your life circumstances.

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