Estate Planning for Same-Sex Couples in 4 Steps

When creating an estate plan for same-sex couples, there are 4 important steps that an Estate Planner should follow: 

• First, make sure to have all of the basic estate planning documents completed. 
• Second, remember to review all of the designated beneficiaries.  Make a list of accounts and beneficiary designations to put with other estate documents.
• Third, put into joint ownership property like “cash, investment accounts and real estate assets.” 
• Finally, think about creating a revocable trust (often called a “living trust”). This would allow assets to be kept in the trust while retaining control. 

See Katie Williams, 4 Key Steps to Creating a Formal Estate Plan for Same-Sex Couples, Nashville Business Journal, April 24, 2015.  

Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.