This Pride month, we wanted to highlight a couple of areas that could be especially important for the LGBTQ+ community to consider when looking at their estate planning.
Will Making
The assets of anyone who dies without a Will are dealt with under the law of intestacy. This means that your assets pass to your family members in a set order which you can see by following this link: Intestacy – who inherits if someone dies without a will? – GOV.UK (www.gov.uk)
So if you are not married or civil-partnered then your loved one may have to make a claim against your family in order to benefit from your estate. It’s easy to prevent this situation and we can’t overstate how important a proper Will is for everyone. In there you can include:
- Who will be in control of winding up your affairs: “your executors”
- Who will inherit your assets: partner, friends, family, charities for example
- Who will be guardian of children under-18: especially important if your partner does not have parental responsibility for the children and you want them to continue to care for the children in the event of your death
- How your funeral arrangements should be conducted to celebrate your life and wishes
Lasting Powers of Attorney (LPAs)
Another vital area to consider. Many people assume that if they become ill and lack capacity to make decisions that their partner can automatically step and in and assist with finances and welfare choices. Without the right documentation this isn’t true, even if you are married or civil-partnered. So we strongly advise all our clients to have LPAs in place specifying who should look after such decisions in those circumstances.
Your LPAs should include guidance on how those decisions should be made, but ultimately the most important choice is for you to select the people that you know and trust to do the right thing for you.
These might seem like tricky matters to think about during a Pride month that is rightly dedicated to celebration and history, but you will find that all of our lawyers can make these difficult topics easy to navigate, and they will tailor their advice just for you.
Call our team on 0800 118 1500 or read more about creating a Will/LPA at: https://www.talbotslaw.co.uk/site/for-you/your-future/
Love,
Talbots