LGBTQ Estate Planning in Atascocita, TX
Safeguarding Your Assets in a Same-Sex Relationship
Since 2015, same-sex marriage has been legalized in Atascocita, TX. This has led to the introduction of new legal protections for the LGBTQ community residing in Texas. Despite this, discrimination against same-sex couples persists in certain parts of the state.
To safeguard your family and yourself, it’s advisable to engage an LGBTQ estate planning attorney. They can assist with asset distribution should you face an untimely or unexpected demise. The validity of your marriage should never be called into question, nor should you face challenges passing your estate to your spouse. Our attorneys at the Law Office of Bryan Fagan, PLLC are committed to ensuring that your estate remains within your family.
Estate Planning Solutions for LGBTQ Families in Atascocita
Estate planning can help you tackle potential issues related to the recognition of your marriage or partnership. If you’re in a partnership, having a well-structured estate plan ensures that health and financial decisions will be entrusted to your partner, thus sidestepping probate.
Key estate planning services for LGBTQ couples to ensure future security for your family include:
- Living trusts – Assign your spouse/partner as your trustee to manage your financial and health affairs if you become incapacitated
- Asset protection
- Medical power of attorney
- Child protection planning – Select who will look after your children upon your death
Vital Estate Planning Tips for LGBTQ Couples
Step one: Consult your lawyer for a strategy review. It’s essential that you and your spouse/partner diligently review your estate planning strategy with a lawyer and complete all required paperwork. Checking these documents to ensure the language used (wife/husband/spouse versus partner/boyfriend/girlfriend) complies with Texas law is also beneficial.
Step two: Establish parentage for your children. If you have a child in a same-sex marriage or partnership, the non-biological parent should consider adopting the child. This prevents potential custody disputes over your child, so it’s advisable to set this adoption into motion as soon as possible.
Step three: Decide if a prenuptial agreement suits your needs. Prior to the legalization of same-sex marriage in Texas, LGBTQ couples could freely decide how much of their assets they wanted to give to their partner. Federal law now mandates that at least one-third of your estate must be passed on to your spouse. If this doesn’t align with your preferences, consult an attorney.
Securing Your Estate as an LGBTQ Couple
As an LGBTQ individual, you and your spouse/partner may face unique estate planning challenges compared to heterosexual couples. It’s important to understand the existing protections and the disadvantages you need to address, especially now that same-sex marriage is legal in Texas. This includes understanding how estate planning operates for those in domestic partnerships, civil unions, and other arrangements.
Establishing an estate plan as an LGBTQ couple can be complex. Engage a dedicated and experienced estate planning attorney to guide you through this process.
Contact us today at (713) 581-3839 or submit a contact form on our website for assistance with your LGBTQ estate plan.