LGBTQ+ Estate Planning Attorney in Tracy, CA
The Best Estate Planning Attorneys
Embrace inclusivity and plan your future with Bakerink, McCusker & Belden’s LGBTQ+ estate planning services in Tracy, CA. At our firm, we understand that estate planning is a deeply personal journey, and we are proud to provide tailored services that cater to the unique needs and concerns of the LGBTQ+ community. Your future deserves careful consideration and legal protection, and our compassionate team of attorneys in Tracy is here to support you every step of the way. Whether you’re considering wills, trusts, healthcare directives, or other essential aspects of estate planning, we are dedicated to helping you secure your legacy with confidence and inclusivity. Start planning for tomorrow today. Contact us for a consultation and let us assist you in building a secure future that reflects your wishes and values. Your journey to peace of mind begins here.
Important Legal Developments Relating to Same-Sex Couples
In 2013, the U.S. Supreme Court’s United States vs. Windsor decision granted legally married same-sex couple’s equal benefits as opposite-sex couples under income, estate, and gift tax laws, including the marital deduction. The subsequent 2015 ruling in Obergefell vs. Hodges affirmed same-sex couples’ constitutional right to marry, mandating nationwide recognition of valid same-sex marriages. LGBTQ couples with estate plans predating these rulings should seek counsel from an informed estate planning attorney to assess and, if necessary, update or create new estate plans, ensuring they can access the same tax advantages long available to opposite-sex couples. Velasco Law Group can provide expert guidance in this regard.
Concerns for Same-Sex Couples Who Are Not Legally Married
A same-sex couple not legally married in California or another state but instead in a domestic partnership registered in California or cohabiting without legal recognition won’t enjoy the same federal tax benefits extended to legally married couples. While there may be valid reasons for not pursuing legal marriage, it’s crucial to comprehend the consequences of this choice. Effective estate planning can ensure that non-married same-sex partners have the necessary legal rights for making healthcare decisions and accessing visitation rights, especially in healthcare facilities, and that their assets are distributed according to their wishes upon death. However, for federal income tax, estate tax, and other purposes, these relationships do not receive recognition from the federal government, resulting in the forfeiture of numerous significant tax advantages available to married couples.
Estate Planning for Single LGBTQ+ People
While significant changes in estate planning have centered around same-sex marriage, it’s equally vital for single individuals to engage in proper estate planning. Neglecting to establish an estate plan can lead to legal heirs inheriting assets upon one’s death, irrespective of their supportiveness during the individual’s lifetime. Our attorneys take a holistic approach, examining each client’s asset portfolio, including those passing through beneficiary designations like IRAs, annuities, and retirement plans, to craft a meticulously considered estate plan. This plan ensures that the client’s assets are distributed according to their desires, benefiting the chosen individuals or charities.
Contact Bakerink McCusker & Belden Today
In Tracy, CA, Bakerink, McCusker & Belden is committed to fostering an inclusive and supportive environment for LGBTQ+ individuals and couples as they navigate the important journey of estate planning. Your unique needs and concerns deserve a personalized approach, and our experienced team of attorneys is here to provide just that. Don’t postpone securing your future any longer. Take action today to protect your legacy and ensure your wishes are respected. Contact us now for a consultation and let us guide you through the process of LGBTQ+ estate planning with care and expertise. Your future, your legacy, and your peace of mind are worth it. Connect with us today to begin your path to a secure and well-planned future.