Pride Month is a vibrant celebration of love, equality, and the rich tapestry of LGBTQ+ families. Here at The Autonomy Group, we believe that building a secure future for yourself and your loved ones is an essential part of living authentically and with pride.
Estate planning might not be the first thing that comes to mind during Pride festivities, but it’s a crucial step that ensures your legacy reflects your values and safeguards the well-being of those you cherish. Here, we explore why estate planning is particularly important for LGBTQ+ families and provide some key considerations.
Why Estate Planning Matters for LGBTQ+ Families
- Marriage Equality is Relatively Recent: While same-sex marriage has been legal nationwide since 2015, many LGBTQ+ couples may not have comprehensive estate plans established.
- Potential for Family Dynamics: LGBTQ+ families can have diverse structures, including chosen family, domestic partnerships, and adoption. Estate planning ensures all loved ones are protected according to your wishes.
- Estate Tax Considerations: With potentially complex family structures and potentially high net worths, estate tax planning becomes even more important. (Source: IRS (.gov) Estate Tax)
Statistics that Underscore the Importance:
- A 2021 study by Carrie Cotten ON found that over 30% of LGBTQ+ couples lack a will, leaving their estates vulnerable to legal uncertainties.
- Nearly 2 million same-sex couples live in the U.S., highlighting the growing need for estate planning tailored to their unique needs. (Source: Williams Institute)
- A recent survey by the Human Rights Campaign indicated that over 60% of LGBTQ+ adults with children haven’t designated guardians in their estate plans.
Key Considerations for LGBTQ+ Estate Planning:
- Wills and Beneficiary Designations: Ensure your will clearly reflects your wishes and that beneficiary designations on financial accounts and assets accurately represent your intentions.
- Domestic Partnership Agreements: These agreements may offer additional protections if you are not married, outlining shared assets and responsibilities.
- Power of Attorney and Advance Directives: Designate trusted individuals to manage your financial and healthcare decisions in case of incapacity.
The Autonomy Group: Your Trusted Partner
At The Autonomy Group, we understand that LGBTQ+ families have unique needs and aspirations. As a black-owned law firm serving North Carolina and South Carolina, we are committed to providing culturally sensitive and comprehensive estate planning solutions tailored to your specific circumstances.
We Offer:
- Experienced Team: Our team of legal professionals has extensive experience in estate planning, trust creation, and navigating legal nuances for LGBTQ+ families.
- Personalized Approach: We take the time to understand your family dynamics, goals, and values, crafting a plan that reflects your vision for the future.
- Compassionate Support: We understand the importance of building a secure future for yourself and your loved ones, and we guide you through the process with empathy and respect.
Free Resources:
Download our free guide, “Planning with Pride: An Essential Guide to LGBTQ+ Estate Planning” available on our website. This guide offers a detailed breakdown of key considerations for LGBTQ+ families.
Download here: https://taglegacyplanning.com/free-guides/
Contact Us Today!
Schedule a confidential consultation and let’s discuss how we can help you build a secure future that reflects your love and commitment to your chosen family. Together, let’s create a legacy that celebrates and empowers your loved ones for generations to come.
Call us at (803) 262-0442 or click HERE to schedule a Consultation.
For more information about our practice visit www.taglegacyplanning.com
