With the recent Supreme Court ruling, the federal government’s discrimination of LGBT marriage is a thing of the past. Same-sex couples are now afforded equal benefits. What does that mean for same-sex couples and estate planning in Ohio, and why does it matter?
It means terms such as “significant other”, “friend” or “acquaintance” are no longer needed. Instead, LGBT couples are now able to use the term spouse. In addition, government entities must also afford LGBT couples the same benefits as opposite sex couples with regard to medical insurance, FMLA, retirement and investment accounts, and homestead property, to name but a few. In death, a same-sex spouse’s name can now be listed on a death certificate.
If you’re a member of the LGBT community, don’t forget that despite this monumental decision, you still need to get basic legal documents in place. Powers of Attorney, Advance Health Directives and Wills are a good place to start. An analysis of your financial situation should be similarly addressed. While marriage has its privileges, LGBT couples must also be wary of the disadvantages. If your spouse is facing a nursing home crisis, your financial future is also in jeopardy. Considering ways to protect your assets is critical to avoid losing it all to a nursing home.
At AlerStallings, we can prepare your Financial and Health Care Power of Attorneys that will allow you to name your same-sex spouse to act for you when you no longer are able. You can also enact a new Last Will and Testament naming your same-sex spouse as the primary beneficiary of your Estate.
Our attorneys are well-versed and ready to assist the LGBT community in taking the first step to protect themselves and their hard-earned money from a nursing home financial crisis. Give AlerStallings a call today at one of our nine offices to schedule a consultation.