Crash Course: Estate Planning II

We learned last week why estate planning for the GLBT community is so important, and we learned about some things we need to have a solid plan. This week, we’ll discuss some other estate planning topics to think about.

A Living Trust allows you and your partner to pre-arrange your giving and avoid some probate inconveniences. Here’s how it works:

You and your partner put all assets into the trust and become both the trustees and primary beneficiaries of the trust.

At the death of the first partner, all property belongs to the surviving partner automatically.

At the death of the surviving partner, all property in the trust passes as designated in the trust, eliminating the need for probate.

Living Trusts are private; probate records are public.

Living Trusts can be less expensive because they avoid the costs of probate court.

Property in a Living Trust is accessible right away; most assets are not distributed in a probate action for six months.

Living Trusts avoid Kentucky Inheritance Tax assessed on non-relatives (including partners who have no legally-recognized relationship.

Best of all, nothing changes in the day-to-day living; you (and your partner) still manage the assets.

Other Issues for GLBT partners to consider:

Real Estate – You must state that there is a survivorship interest or there is none (without it each person owns ½ of the real estate).

Personal Property – Titled property and financial accounts should be in joint names.

“Beneficiary” accounts (life insurance, pensions, etc.) – These do not pass through the probate court unless the beneficiary is your estate – make sure your beneficiary designation is current.

That’s it for this week. We’ll see you next week when we discuss adoption and parenting.

In fairness,
Your KFA Team.

Crash Course: Estate Planning for the LGBT Community

This week’s Crash Course lesson is on estate planning - something that most people think about, but are somestimes slow to take care of doing. Why worry with estate planning at all?

· Under current law in Kentucky, you and your partner have no legally-recognized relationship.

· You have no legal right to information should your partner become hurt or disabled.

· You have no legal right to make medical decisions should your partner become unable to do so.

· You have no legal right to inherit from your partner at his/her death.

· If you do not make certain decisions, a court will appoint someone to make decisions on your behalf. That person may not know or follow your decisions.

Now that you know why it’s so important to the GLBT community, what estate planning do you need to do?

· Power of Attorney - allows someone to make non-medical decisions and/or handle your affairs should you become disabled.

· Authorization to obtain medical information - allows someone to obtain medical information about you at any time because Federal law prohibits medical providers from releasing medical information without your written consent.

· Living Will/Health Care Surrogate - allows someone to make medical decisions should you become unable to do so. You get to decide what “end-of-life” decisions you want. You get to decide how those decisions are followed.

· Last Will & Testament - declares how you want your property to be distributed at your death. You can make it known if you want to be cremated. You can provide for someone to care for your minor or disabled children (assuming another natural or adoptive parent doesn’t already have that right.)

HOMEWORK: More and more of us in the LGBT community are taking estate planning seriously and proactively making future plans rather than just thinking about them. Do you have a story to tell about this or would like to recommend a LGBT friendly attorney? Please, feel free to share.

That’s it for this week. We’ll see you next week when we discuss adoption and parenting.

In fairness,
Your KFA Team.

Crash Course: Inclusive Hate Crimes Laws

This week’s lesson is on inclusive hate crimes laws. Merriam-Webster defines hate crimes as those “motivated by hostility to the victim as a member of a group.”

HATE CRIMES ARE MEANT TO CAUSE FEAR AND INTIMIDATION TOWARD A GROUP.

The facts...

*Kentucky hate crimes laws include sexual orientation, but not gender identity.

*Federally, hate crimes laws do not include sexual orientation or gender identity. However, nearly 70% of Americans according to a 2007 Gallup poll support expanding current laws.

*The National Sheriffs’ Association, the International Association of Chiefs of Police, and the U.S. Conference of Mayors all support expanding hate crimes laws to include sexual orientation and gender identity.

*According to the Federal Bureau of Investigation (FBI), anti-gay hate crimes are the 3rd most frequent kind of hate crimes in America only following race and religion.

Hate crimes laws do not affect religious freedoms. For example, current proposed federal legislation to expand protections refers to physically violent acts and intentions to hurt or intimidate certain groups of people, not to speech or non-violent expression.

Hate crimes can be horribly brutal. In 2002, Gwen Araujo, a 17-year old transgender student, was brutally murdered by four men who beat her with a shovel, a frying pan, and a barbell; partially strangled her; and buried her alive in the desert-just because she was transgender. There are far too many examples of these brutal crimes, among them the murders of Matthew Shepard and PFC Barry Winchell.

Expanding federal hate crimes laws to include sexual orientation and gender identity will ensure gay and transgender citizens the protections afforded us all on the basis of race, religion, ethnicity and national origin.

HOMEWORK: Retelling the stories of hate crimes can be extremely painful. We’re not going to ask anyone to do that. However, we’ll toss this week’s lesson up on the blog site as normal and open it up for comments if you have them.

In fairness,
Your KFA Team.

Sources: www.merriam-webster.com, www.partnersagainsthate.org, www.sfgate.com, and www.lgbtmap.org.