WEALTH PRESERVATION
Planning for Non-Traditional Families

Non-traditional families are two or more people in a relationship that is not recognized either by the federal or state government as a marital relationship. With statistics showing that non-traditional families make up a substantial amount of the population it is unfortunate that there are so many obstacles to overcome in arranging for loved ones to be cared for when they are gone. A major obstacle is that in 1996 President Bill Clinton signed the Defense of Marriage Act which allows States to refuse to recognize same-sex marriages that occurred in other states, and has had the effect of the Federal Government only recognizing marriages between a man and a woman. As a result of this and other legislation proactive planning is crucial to accomplish the aims of such unmarried couples to ensure their loved ones are cared for in the future.

A Living Trust is often the best option for unmarried couples because it provides for disability planning, ultimate control and allocation of assets, creditor protection, and minimizes the chance for challenges from family members (who often don’t approve of alternative relationships), and avoids court involvement in the event of disability and or death.

By using Trusts and other estate planning tools an experienced estate planning attorney can ensure your assets go to those you love with as little as possible taxation.