Estate planning important for same-sex partners in Maryland

Posted by Angela Holliday Hansen Esq. | Sep 25, 2013 | 0 Comments

It is never too early for Maryland residents to begin planning for who will receive their assets upon their passing. In fact, considering estate administration before reaching the age of 40 is crucial, regardless of the level of wealth. The process is particularly important for individuals who are in same sex partnerships as without a will, assets may end up going to next of kin, instead of one's life partner.

Before beginning the estate planning process, it is important that individuals have a "what if" conversation with their partners and with other family members. By doing so, individuals can establish exactly what they want and possibly eliminate squabbling following their passing. Laying out wishes while one is still alive will allow others to see the rationale behind decisions. The discussion should encompass all basic estate components, including a will, a living will, life insurance and durable power of attorney. The latter document is particularly important for those in same-sex relationships as some hospitals will not allow life partners to make decisions unless a legal document exists.

Consulting a certified financial adviser is an educational step that individuals can take prior to drafting estate documents with attorneys. By doing so, individuals can then efficiently use their time when consulting with estate attorneys. Taking this step can be crucial for individuals under 40 or for those whose resources are limited.

Knowledgeable estate planning attorneys in Maryland may be able to explain the meaning and importance of matters such as probate, tax responsibilities, estate administrators and trustees. Estate planning lawyers may also be able to give clients advice on what legal instruments will best fit their situation regarding same-sex partnerships.

About the Author

Angela Holliday Hansen Esq.

Angela Holliday Hansen, Esq., is a former big firm corporate attorney who now practices family law in Rockville Maryland. Ms. Hansen oversees complex estate administration and drafts...

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200 A Monroe St
Suite 310

Rockville, MD 20850
301-690-0383
Mon, Tue, Wed, Thu, Fri: 09:00am - 05:00pm

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