two moms in a same-sex relationship, one holding their child

Why Are LGBTQ+ Couples Less Likely to Have Estate Plans?

A significant number of adults don’t have estate plans in place, but especially those of whom are part of the LGBTQ+ community. Why could this be the case? Our team at DebnamRust, P.C. explains why this discrepancy exists and how we can help close the gap.

Reasons Why LGBTQ+ Couples May Be Hesitant to Estate Plan

Many things may influence the lower rates of estate planning within the LGBTQ+ community—first, concerns about complications. LGBTQ+ estate planning has some differences from heterosexual couple estate planning. Some individuals may fear that the process will be too complicated or stressful and don’t move forward with estate planning.

Another concern may be judgmental legal counsel. Some LGBTQ+ couples may be hesitant to reach out to a law firm for fear of being judged or rejected. At DebnamRust, P.C., we pride ourselves on being inclusive and compassionate - we welcome clients of all backgrounds at our firm.

A reason that holds many individuals back, regardless of sexual orientation, is discomfort. Many people feel uncomfortable talking about estate planning, as it requires individuals to consider life after they have passed away. It is a major topic, and it is understandable that it causes some anxiety. However, it is necessary to plan ahead.

Why LGBTQ+ Estate Planning is Especially Important

Some LGBTQ+ specific issues make estate planning of the utmost importance. First, LGBTQ+ individuals need to account for specific needs such as: Naming their beneficiaries, guardianship for children who are not biologically related to their parents, handling assets collected prior to their marriage or partnership, and more.

Additionally, LGBTQ+ should have a thorough and valid will in case of familial disputes. Unfortunately, some individuals are still not accepting of their family members who are in the LGBTQ+ community. These same individuals may try to contest the decedent's will to keep assets out of the hands of their same-sex partner. A well crafted will can help protect your partner should this situation arise.

Get Started Estate Planning Today with DebnamRust, P.C.

Our team understands the hesitancy that some individuals have about estate planning. However, we emphasize the importance of having a legal and detailed estate plan. It benefits not only yourself, but also your partner and other loved ones. Our kind and compassionate attorneys are ready to guide you through the process and ensure your estate plan is set up exactly as you wish. Reach us online or by phone at (214) 758-8681 today for an initial consultation.