Estate Planning for Same Sex Couples
Estate Planning for Gay and Lesbian Couples: Protecting Your Family and Your Finances
While gay and lesbian couples are increasingly accepted and supported in their decision to form life partnerships and raise families, it remains an unfortunate reality that they are not afforded the same tax benefits and protections under the law. Because of these inequities, estate planning is even more important for same sex couples.
When opposite-sex couples marry, whether they have a will or not, the spouse's claim to marital assets is protected by the "law of intestacy." That means the law ensures that the surviving partner will receive at least a portion of the other's estate.
Illinois inheritance law does not treat same sex couples the same way. A same sex partner would not be afforded any rights to his/her partner's estate unless the couple has prepared an estate plan. Similarly, a physician or financial institution is not required to honor the direction of a partner when it comes to important health care or financial decisions, unless an advanced directive has been drafted.
At Ciesla & Ciesla our estate planning lawyers understand the challenges that gay and lesbian couples face. We can help you prepare all the legal documents needed to protect your partner, your children, and your financial interests. We have experience drafting:
- Wills
- Living trusts
- Powers of attorney for healthcare and property
- Advanced healthcare directives
- Trusts, including irrevocable life insurance trusts, minor's trusts, and special needs trusts
We can also assist with cohabitation agreements and partner adoption proceedings (see our page on Family Law for Same Sex Couples).
At Ciesla & Ciesla, we care about you and your family. Whatever your goal, our estate planning attorneys are here to help you reach it. Contact us to schedule a consultation.
