St. Paul And Minneapolis Lawyers Drafting Estate Plans For Same-Sex Couples

Until recently, same-sex couples could not marry in the state of Minnesota. As a committed life partner, you still may not feel the need to legally wed. However, it is important to remember that although emotionally and financially committed to one another, unmarried life partners lack the many protections afforded to married couples.

At PFB Law, Professional Association, we help same-sex couples throughout the Twin Cities and surrounding suburbs create estate plans that bestow many of the rights married couples enjoy on unmarried life partners.

Wills And Trusts For Same-Sex Partners

Married individuals are automatically granted inheritance rights in the state of Minnesota. When one spouse passes away, his or her assets pass directly to the surviving spouse. However, unmarried couples do not enjoy these rights.

At PFB Law, Professional Association, our attorneys help unmarried couples bestow inheritance rights upon each other through wills and trusts. By creating a will, you can direct all, or some, of your assets to your life partner. Depending on the nature of your assets, and your estate planning goals, a trust may be helpful to ensure your assets are protected and managed for the benefit of your partner.

Same-sex married couples face new challenges. If you and your spouse have large estates, combining them through marriage may subject you to state and federal estate taxes. Estate tax planning techniques such as interspousal gifts, marital deduction planning and trusts may be necessary to safeguard your assets against heavy estate taxes.

Estate Planning Lawyers For Same-Sex Couples In St. Paul And Minneapolis

Another challenge unmarried couples face is the ability to make financial and health care-related decisions on each other's behalf. Unless all of your financial accounts are held jointly, one partner will not have access to the other's financial assets in the case of an emergency. In addition, unwed couples have no right to make medical decisions and funeral arrangements in the event of their partners' incapacitation or death.

At PFB Law, Professional Association, we create powers of attorney and health care directives that ensure unwed partners have the legal right to access funds and make important health-related decisions for their partners.

Contact our St. Paul law office at 651-968-1022 or toll free at 866-561-3419 for help creating an estate plan that protects you and your same-sex partner's financial, property and health care interests.