I just recently had the chance to develop an estate prepare for a same-sex couple and discovered a number of efficient methods for making sure each partner could get inheritance and make health care decisions for the other just as if they were a married heterosexual couple. Really, now they are most likely better safeguarded than a lot of married heterosexual couples, because many couples do not have an estate plan or living rely on location.
Property protection methods and estate planning are necessary for same-sex couples who wish to leave an inheritance for each other or provide their partner decision-making power over their healthcare. Ohio laws do not give rights to domestic partners when it concerns wills and health care choices, regardless of their sexual orientation.
Asset Defense through Living Trusts, Irrevocable Trusts and LLC’s
Ohio laws provide partners and children priority over assets gone by will and no rights to same-sex partners. That suggests we had to develop an estate plan that will enable properties to pass from one partner to the other without a will and without going to probate court. Our Dayton, OH estate organizers discovered substantial advantages using trusts and LLC’s (restricted liability business) for possession protection and designating heirs.
Laws that use to wills and probate procedures do not use to trusts. Trusts are legal entities that define their own rules for how properties owned by the trust are dealt with, including who receives control of the assets under specific scenarios, such as incapacitation or death of the trust creator. Through a mix of living trusts, irreversible trusts and LLC’s, we were able to give each partner continued control of their assets during their life time and ensure that, upon death of one partner, the other partner would get the desired inheritance.
Ensuring Partners’ Medical Decisions through Medical Directives
Just as with wills, Ohio laws favor children and parents when medical decisions need to be made on behalf of an individual who is paralyzed. Domestic partners and same-sex partners have no authority to make medical decisions for an incapacitated partner unless particularly directed through legal documents. The files to have in place include:
u2022 Health care or medical power of attorney;
A healthcare/medical power of attorney empowers partners to make medical choices for each other if they are not able to do so themselves.
The HIPAA (Health Insurance Coverage Mobility and Accountability Act) permission will permit partners to get access to each other’s medical records. If one partner is hurt in a mishap and reaches the hospital unconscious or otherwise mentally incapacitated, the other partner will not be able to get updates on his/her condition or consult with medical personnel unless a HIPAA authorization is on file.
A living will, which is also referred to as an Advance Healthcare Directive, permits a person the chance to dictate which medical treatments or treatments he/she desires or does not want if they are not able to tell the physician themselves, such as whether to continue life assistance under certain situations.