SAME-SEX ESTATE PLANNING

The following is a basic list of each estate planning that every Sarasota or Manatee County Florida same-sex couple and domestic partners should have:

Florida Will and/or Revocable Trust: Without a Florida Will or Florida Revocable Trust, you risk having your assets pass to family members instead of your same sex partner. A Florida Revocable Trust will also keep your affairs private because it will avoid probate, unlike a Will, which becomes part of the public record.

Florida Advanced Health-Care Directive: This document appoints an agent, your same sex partner, to make medical decisions on your behalf should you become incapacitated. The Florida documents also provide for visitation, which can be denied unless you're a spouse or family member, in a hospital. In addition, your Florida same sex partner will be empowered under the Health Insurance Portability and Accountability Act to obtain medical information about you.

Florida Durable Power of Attorney for Finances: This document designates your Florida same sex partner as your attorney-in-fact to make financial decisions on your behalf if you are unable.

Florida Domestic Partner Agreement: This document is a living-together or property-sharing agreement. It will spell out each partners responsibilities and which partner gets what in the event of a split or death.

Beneficiaries: Be sure to review your beneficiary designations on retirement accounts, stock options, life insurance and any other assets. You can designate your partner as the beneficiary upon death. Because Florida law does not recognize same sex marriages and relationships it is important to put everything in writing in order to protect your legal rights.

SAME-SEX BENEFITS

For some purposes, such as with the IRS and federal income estate and gift tax rules, a same sex couple will be considered as married, as long as their marriage is recognized in the jurisdiction where the ceremony and licensing took place, notwithstanding that the couple may live in a state that does not recognize their marriage, such as Florida. 

For many purposes, however, a same sex married couple will not be considered as eligible to receive married couple rights if they reside in a state that does not recognize their marriage. An example of this is Medicaid eligibility. Presently the Medicaid statutes do not require the states that administer the Medicaid program to recognize a same sex marriage. The same applies for social security and the Family and Medical Leave Act.