For Gay Couples Estate Planning Can't Wait
April 26, 2012 By Frank & Kraft, Attorneys at Law
A lot of people tend toward procrastination, and of course most of us live busy lives and you do have to prioritize the things that are immediately relevant. Since passing away is firmly entrenched at the bottom of most people's to-do list it is not uncommon for individuals to put estate planning on the back burner.
This is not a good idea for anyone because you never know what the future has in store for you and estate planning is done for the benefit of your family. But in fairness, there are laws of succession in place.
So if you are married and you were to pass away intestate or without a will your spouse would be first in line to inherit your resources. Your spouse would also be the individual who medical professionals would ask about medical decisions if you were to become incapacitated.
Gay couples are in a different situation. If your union is not legally recognized your partner would not be protected by these rules of succession. Therefore, it is especially important for people who are involved in domestic partnerships to make sure that they have executed all of the appropriate estate planning documents.
Procrastination when you are legally married and have some basic protections is one thing. But when you are not, going through life without a legally binding estate plan in place is simply not an option. If you are presently unprepared, now would be a good time to pick up the phone and arrange for a consultation with a licensed, savvy Indianapolis estate planning attorney.
ABOUT THE AUTHOR: Paul Kraft
Experienced estate planning attorneys Indianapolis IN of the Frank & Kraft Attorneys at Law offers estate planning and business planning resources to residents of Indianapolis IN.
Copyright Frank & Kraft, Attorneys at Law
More information about Frank & Kraft, Attorneys at Law
Disclaimer: While every effort has been made to ensure the accuracy of this publication, it is not intended to provide legal advice as individual situations will differ and should be discussed with an expert and/or lawyer. For specific technical or legal advice on the information provided and related topics, please contact the author.
So if you are married and you were to pass away intestate or without a will your spouse would be first in line to inherit your resources. Your spouse would also be the individual who medical professionals would ask about medical decisions if you were to become incapacitated.
Gay couples are in a different situation. If your union is not legally recognized your partner would not be protected by these rules of succession. Therefore, it is especially important for people who are involved in domestic partnerships to make sure that they have executed all of the appropriate estate planning documents.
Procrastination when you are legally married and have some basic protections is one thing. But when you are not, going through life without a legally binding estate plan in place is simply not an option. If you are presently unprepared, now would be a good time to pick up the phone and arrange for a consultation with a licensed, savvy Indianapolis estate planning attorney.
ABOUT THE AUTHOR: Paul Kraft
Experienced estate planning attorneys Indianapolis IN of the Frank & Kraft Attorneys at Law offers estate planning and business planning resources to residents of Indianapolis IN.
Copyright Frank & Kraft, Attorneys at Law
More information about Frank & Kraft, Attorneys at Law
View all articles published by Frank & Kraft, Attorneys at Law
Disclaimer: While every effort has been made to ensure the accuracy of this publication, it is not intended to provide legal advice as individual situations will differ and should be discussed with an expert and/or lawyer. For specific technical or legal advice on the information provided and related topics, please contact the author.
