Articles
Passing on Retirement Benefits
The subject of passing on retirement benefits is extremely difficult for gay men and lesbians. Many company plans expressly provide that the benefits can only be passed to a surviving spouse or natural or legally adopted children. This may, however, vary with the types of benefits.
Minimizing Estate Taxes
Almost any transfer of assets, whether by gift during your lifetime or bequest upon your death, can have both state and federal tax consequences. At death, all of the assets you own are transferred to your beneficiaries for tax purposes. Through careful planning, you can ensure that you qualify for significant tax-relief provisions.
Choosing Your Estate Trustee
Trustees are the people who make your estate plan operate according to your wishes. When you choose a trustee, be sure that it’s someone who will carry through your wishes.
Estate Planning Legal Documents
A brief summary of the legal documents generally used in estate planning.
The Costs of Estate Planning
The cost of estate planning can range anywhere from $250 to $5,000, depending on the lawyer, and the details and size of your estate. However, it’s important to note that these costs are minor compared with what can happen without proper planning. GLBT people, in particular, tend to run a higher risk of having their plans challenged by your family of origin.