Considering potential legal and financial needs in the future can be a complex process for any adult in any type of family situation. However, LGBTQ+ families in Louisiana may benefit from additional assistance when creating estate plans due to unique challenges they may face. While potentially complicated, it is always beneficial to be prepared for the future and plan for contingencies.
Protecting loved ones
One of the main benefits of estate planning is to provide protection for loved ones. Unmarried LQBTQ+ couples could find themselves in a difficult position if one partner dies without a will. Having a will means each partner will have a say over what happens to his or her property, and certain documents can also name a specific person to make important legal and financial decisions in case of incapacitation.
Dying without a will, also called dying intestate, means that state laws will determine what happens to the estate of the deceased. For same-sex couples who are unmarried, this can be incredibly difficult. It could mean one partner will not receive anything from the deceased partner’s estate. Lack of health care planning could mean a partner will not have a say in important medical decisions.
Planning is for everyone
Estate planning is for everyone. However, Louisiana LGBTQ+ families may find it beneficial to work with an experienced attorney who can help them make smart decisions for the future that suit their unique needs. They may find it helpful to start this process with an evaluation of their estate and goals.