Beyond the Will
By Lorie L. Burch
Law Office of Lorie L. Burch, P.C.
What other Estate Planning should GLBT Couples Consider?
Most, if not all, GLBT couples should consider having a qualified attorney draft their Wills to ensure that they will inherit each other’s property and act as each other’s executor. Without a Will to make such designations, a same-sex partner will have no right to control or inherit their partner’s property, even if such property is jointly owned. You may allow your partner to inherit insurance proceeds and bank accounts through beneficiary designations or rights of survivorship, but that will not address all of your property, especially real estate.
A Will is vital, everyone needs to have one. However, GLBT couples need additional planning to create rights for one another concerning medical decisions and visitation, financial decisions, and burial decisions.
The following is a list of essential documents to include in your plan along with your Will:
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Medical Power of Attorney - A Medical Power of Attorney designates an agent to make medical decisions if you are unable to make them.
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HIPAA Release - A HIPAA Release specifies who may have access to your medical records. Most individuals will name the same individuals as in their Medical Power of Attorney so that they may have access to your medical records if they have to make medical decisions on your behalf.
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Statutory Durable Power of Attorney (or Financial Power of Attorney) – This document designates an agent to make financial decisions and control property on your behalf. For example, if you are in an accident and are in the hospital, your agent could help pay your bills and manage your financial affairs in your absence.
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Appointment of Agent to Control Disposition of Remains – This document allows you to name an agent to make your funeral and burial arrangements. This document also allows you to specify your wishes regarding such arrangements.
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Declaration of Guardian in Event of Later Incapacity or Need of Guardian – This document allows adults to designate one or more individuals to be his or her guardian if s/he is declared incapacitated or incompetent. This document is extremely important for same-sex couples as a Guardianship would override your Medical and Financial Powers of Attorney. For example, your parent could get appointed as your guardian thereby voiding the medical and financial decision-making authority you gave to your partner.
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Living Wills and Directives to Physicians - A Directive to Physicians is the Texas document that is commonly referred to as a living will. This document instructs physicians to withhold or administer artificial life-sustaining procedures in the event of a terminal condition.
If you have children, a large taxable estate, difficult family of origin issues or an incapacity additional planning may be required. Therefore, it is extremely important that you consult a qualified attorney as well as other professionals when you are making these decisions and drafting these documents. No one’s circumstances and needs are the same. It is invaluable to have the knowledge and experience of an estate planning attorney who is versed in same-sex couples' issues to guide you through these complex decisions.
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Lorie Burch has a private practice that focuses on wills, trusts, powers of attorney, and other estate planning matters. Lorie believe in a thorough and comprehensive approach, particularly for GLBT couples who do not have laws to fall back on to enforce their rights. Lorie can be reached at 972-385-0558 or at www.burch-law.com.
Lorie Burch received the Chamber's 2007 Business Person of the Year Award.
READ THIS: Legal Disclaimer Please note that the information provided is for informational use only. This is not specific legal advice and no attorney-client relationship has been created. No representations or warranties are made regarding the applicability of the information conveyed to your situation.
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