LGBTQ+ Estate Planning In New York
The U.S. Supreme Court legalized same-sex marriage in 2015, in its decision in Obergefell v. Hodges. However, court decisions can be reversed or overruled; if this happens, many LGBTQ+ spouses may find themselves locked out of several legal processes predicated on marriage. Estate planning is a major legal field in which blood relatives are presumed to be closest to an individual – and if your rights are not secure and your spouse becomes incapacitated, you may be cut out of some of the most important decisions a person can make.
Make Your Plan Quickly
Some may wonder why estate planning would be necessary, especially if they are young and in good health. In reality, an estate plan is never a bad idea for anyone; disability and death do not discriminate based on age or position. However, LGBTQ+ people may have another reason to create an estate plan at an early point: without an estate plan, a person’s assets devolve to their blood relatives, or to the state if they do not have any.
A same-sex spouse has rights in New York now simply by virtue of their marriage, but there may come a day where they do not. An estate plan, with a healthcare proxy and other instruments designed to protect your finances and family, can solidify your spouse’s place in your life even if your marriage ever becomes a thing of the past. In most cases, neither a hostile state nor a bigoted family member can contest a valid estate plan if the courts are not on their side.
Planning Provides Protection
While everyone’s financial and familial status differs, one of the major aims of your estate plan should be protecting the rights of your spouse. The intent of the executor (the person who executes the document) matters a lot in New York law; for example, if you name your spouse as your healthcare proxy, your word is law as long as your spouse meets the criteria (being a legally competent adult over the age of 18). If your spouse is named as the successor trustee in your living trust, your choice will be accepted unless your spouse is personally unfit.
One other potential advantage to a living trust is that it helps to avoid the probate process, and in New York, the probate process is generally public record. LGBTQ+ couples may want to keep their business private, making a trust all the more appealing. This goes double for families with young children, particularly if grandparents are hostile; this way, you have greater peace of mind in how to plan for the future of your spouse and children.
Contact A Putnam County Estate Planning Attorney
Especially in this tumultuous day and age, it is a good idea for LGBTQ+ couples to have an estate plan in place, to ensure that they are guaranteed their rights as spouses. A Putnam County estate planning attorney from Meyer & Spencer, PC can help you get it right. Contact our office today at (845) 628-0009 to schedule a consultation.
Source:
supreme.justia.com/cases/federal/us/576/644/
