Oceanside Estate Planning for Same-Sex Couples

With the legalization of same-sex marriage, same-sex couples have been able to plan their financial and legal matters more easily. However, the process of estate planning is always challenging, regardless of what your family looks like. Estate planning throughout Oceanside is known for its complexity, but you don’t have to work through this by yourself. Instead, an asset lawyer qualified in Oceanside estate planning for same-sex couples can be brought in to help you and your spouse keep your estate protected.

Our team at Paul V. L. Campo, Attorney at Law, recognizes how crucial estate planning can be for protecting your estate when you pass on. To prevent another party from seizing your assets when you pass away, you must go through the estate planning process. Fortunately, there are ways that same-sex couples can navigate this difficult process, and some processes are the exact same as for heterosexual marriages.

Understanding Estate Planning

Many couples don’t begin creating an estate plan until they start a family, but this process can be beneficial for many different reasons. You don’t need to have a huge estate to take advantage of the process, and each component of estate planning is critical for protecting what you own.

An estate plan protects you and your partner’s assets so your heirs can obtain them when you pass away. You can specifically assign the assets to an individual, known as a beneficiary, so they can take the assets when you pass on. Also, you can select someone else, known as an executor, to take charge of making decisions for the estate. For example, the executor can create healthcare directives and disperse assets when the individual passes on.

A solid estate plan may include a valid:

• Will
• Trust for certain assets
• Financial power of attorney
• Healthcare directive
• Beneficiary designations

These different components can take careful planning and attention to detail to decide, but a qualified estate planning lawyer can help you and your spouse streamline the process.

The benefits that same-sex couples can experience through high-quality estate planning include:

• Receiving all state and federal benefits during marriage while avoiding probate, protecting assets, and maintaining privacy. These benefits apply to same-sex couples who are married and when one person passes away, their assets won’t be at risk
• Ensuring that one person’s partner has the right to make several different decisions. Same-sex couples who aren’t married can still create a plan that allows each person to protect their partner’s assets if they become incapacitated, and they can also inherit their partner’s assets rather than risk them being sent through the probate process.
• Access to living trusts. Not to be confused with wills, living trusts allow a spouse or partner to manage their partner or spouse’s financial affairs, should they later become incapacitated. This prevents another party from interfering and obtaining access. Living trusts also guarantee privacy and prevent their assets from entering probate.
• Healthcare directive benefits. Healthcare directives allow a spouse or partner to make healthcare-related decisions if their spouse or partner passes on or becomes incapacitated. By establishing this directive, one can avoid the need for another party to make these decisions. Also, this allows an individual to make decisions that are right for their partner, as they are likely the person whom they trust most.
• Clear direction when distributing assets. Just like heterosexual couples, same-sex couples who go through the estate planning process can ensure that their assets are distributed exactly how they wish, and to whom they wish, when they become incapacitated.

The benefits of estate planning cannot be overlooked, yet the process itself is known to be complicated and time-consuming. To simplify it as much as possible, same-sex couples should meet with a knowledgeable estate planning lawyer who can answer any questions they may have.

What Happens When Same-Sex Couples Don’t Do Estate Planning?

If you and your partner neglect to go through the estate planning process in Oceanside, you may cost each other the assets that you’ve acquired throughout your life together. Regardless if you and your partner are married, California does not acknowledge common-law marriage, which can complicate matters when you pass on.

The most significant drawback to ignoring estate planning is what happens after death. For couples who are not married, including same-sex couples, you risk losing your estate entirely if your partner passes on. Even if you prove that you were in a relationship with your partner who recently passed, you likely won’t receive anything from their estate unless you went through the estate planning process.

Without estate planning, you may also not be able to be at your partner’s side when they become sick. This can be for reasons such as family prejudice. Also, if you aren’t married to your partner who is ill, you may miss spending time with them in their final days. Many couples believe that, for this reason alone, they should at least consider estate planning to mitigate as many complications as possible.

What Is Probate?

Probate involves transferring and distributing your assets to outside parties after you pass away. If you do not establish a trust or will, or if you weren’t married before passing away, your estate is reviewed by a probate court. The court then makes decisions on how the estate can be separated and distributed. Same-sex couples should take action to avoid probate altogether, as it could prevent a loved one from obtaining assets that were meant for them.

For example, if you wanted to leave your car to a sibling, you must describe this in a trust or will. When you pass away, if your spouse is still alive, they most likely can take ownership of this car until they pass on as well. Afterward, your car can then be given to your sibling, as described in your estate plan. However, if you never went through estate planning with your spouse, the car could enter probate.

In this instance, your car could be sent to an outside party, who can do as they wish with it. Probate is also known for being a lengthy and contentious process. While your loved ones can fight against probate with the help of legal aid, there’s no guarantee they’ll see the assets they feel they deserve. Rather than risk them losing what you worked hard for, consider meeting with an estate lawyer ahead of time.

Why Estate Planning Lawyers Are Essential

In today’s world, same-sex couples can legally marry, which is significant progress compared to many years ago. While certain aspects of estate planning, like financial and legal matters, have become easier to complete over time, other factors, such as wealth disparity and healthcare, can still impact couples of all kinds.

Some couples may opt out of estate planning due to financial concerns. Some estate planning lawyers may charge a large amount for their services, or the process of estate planning requires a large amount of time and money to navigate. However, many couples may not realize how much they could be saving as a result of the estate planning process, as it is designed to protect assets and avoid losing finances after a spouse or partner passes.

When you wish to create a trust or will, there are several steps you must follow accurately. While hiring an estate planning lawyer to represent you isn’t mandatory, the benefits that they can provide are too strong to ignore. Estate lawyers can look through all relevant legal documents and determine how to proceed. For same-sex couples in Oceanside, estate lawyers can take your situation into account and ensure that your rights are protected.

Unfortunately, some individuals may attempt to discriminate against same-sex couples, including in the legal system. Law firms such as ours attempt to defend these couples from discrimination and uphold the law. While it is disappointing that discrimination can still be present in estate planning matters, we’re prepared to fight against it.

Build Your Estate Plan Today

Couples who understand how important estate planning is for protecting your assets, finances, and rights may wonder how much it can cost to set one up. No lawyer charges the same amount for their services, and every couple’s situation is different. However, lawyers should always take the time to ask questions, determine a couple’s needs, and execute their plan. If you need the right legal representation for the job, we would be honored to help you.

The team at Paul V. L. Campo, Attorney at Law, is determined to assist you and your spouse or partner with creating a plan that keeps your interests and rights protected. We intend to evaluate your entire situation, calculate all your assets, and help you determine what should happen when you pass away. Rather than risk your assets entering probate for another party to claim, we can help you send your assets to the people you love and trust.

To learn more about what we can do, contact our offices in Oceanside today so we can schedule a consultation. Whether you need help with estate planning, trusts, HIPAA documentation, healthcare directives, nominations of guardians, or other similar plans, we’re here to help you.