Estate Planning for LGBT Couples
Under federal guidelines, couples operating under the protections of marriage are eligible to pass on assets without facing gift taxes or other taxes. In combination with the fact that the $5.34 million estate tax exclusion is now portable (meaning that it can be passed on to a surviving spouse), there’s never been a better time for all couples to visit with their estate planning attorney.
Situations like this require careful planning and advanced estate planning knowledge, so you should find an attorney who is sensitive to the unique needs of every client. You may have a number of different needs with regard to estate planning, especially as it relates to wills, trusts, and powers of attorney. State specific laws also apply, so it’s imperative your documents line up with state requirements.
Especially if you intend to grow your family, it’s important to be involved in the process of evaluating your estate and ensuring that all of your documents match up with your wishes. Having things outlined in legal documents helps to clarify any concerns and give you the protection that you need. To learn more about your needs in planning, contact an estate lawyer today to talk options.