What Non-Traditional Families Need to Know About Estate Planning in Illinois

Estate planning is crucial for anyone who is looking to secure their family’s financial future and ensure that their plans and desires will be honored. For non-traditional families, including LGBTQ+ couples and blended families, estate planning can present unique challenges and considerations. Understanding these nuances and taking proactive steps to address potential legal and financial concerns can help safeguard a family’s future. An experienced attorney can provide invaluable guidance in these matters to ensure that all of a family’s concerns will be addressed correctly.

Estate Planning Essentials for Non-Traditional Families

Non-traditional families often face legal and financial concerns that traditional families do not. Some key estate planning considerations these families may need to address include:

• Legal recognition: It is important to make sure the relationships between family members are legally recognized in order to protect inheritance rights. This can usually be done through marriage, although civil unions or domestic partnerships may also be an option in certain situations. For blended families or LGBTQ+ parents, adoption may be used to establish parent/child relationships and ensure that children will be able to receive inheritances from their parents.
• Guardianship for minor children: Blended families and LGBTQ+ couples with children should make sure their instructions for the guardianship of their children are clear in the event of the death of one or both parents. This can help avoid confusion about who will provide care for children in these situations, and it can protect the children’s best interests, regardless of what may happen in the future.
• Healthcare directives: It is important to ensure that a person’s needs will be met if they become incapacitated. Healthcare directives such as powers of attorney can authorize someone to make medical decisions in these situations. Non-traditional families should make sure these wishes are documented to avoid potential disputes among family members and prevent confusion for medical providers about how decisions will be made.
• Financial concerns: A power of attorney for property allows a person to name someone who will have the authority to manage financial concerns if they cannot do so for any reason. This can be particularly important for non-traditional families to ensure that financial decision-making will be handled correctly if a person becomes incapacitated.

Strategies for Protecting Your Assets and Wishes

Effective estate planning involves multiple types of legal documents and strategies. Non-traditional families may need to address the following concerns:

• Will and trust Documents: A last will and testament should be sure to reflect a family’s structure and ensure that assets will be distributed according to a person’s wishes. Trusts can also be used to protect assets and provide for the needs of different family members. Providing clear instructions in these documents can help prevent disputes and ensure that all members of a family will be provided for.
• Beneficiary designations: It is important to regularly review and update information about beneficiaries on retirement accounts, life insurance policies, and other assets. This is crucial for ensuring that assets will be transferred directly to chosen beneficiaries without the need to go through the probate process.
• Joint ownership: For non-traditional families, joint ownership of property and accounts with rights of survivorship can provide a straightforward path for transferring assets to a spouse or partner after the other partner’s death.
• Letter of intent: This document can provide guidance to the executor of an estate or a person nominated as the guardian of minor children, outlining the wishes of family members in personal terms. By clearly explaining a person’s instructions, this document can help families avoid confusion about what a person would have wanted.

Contact Our DuPage County Non-Traditional Family Estate Planning Attorney

For blended families and LGBTQ+ couples, estate planning offers a way to affirm relationships, protect assets, and secure a family’s future. The complexities of estate planning for non-traditional families underscore the importance of personalized legal guidance. At the Gierach Law Firm, our Naperville estate planning lawyer understands the unique challenges that may arise in these situations. We are committed to providing compassionate and comprehensive estate planning services to ensure that a family’s needs and goals will be properly addressed. Contact us at 630-756-1160 to set up a consultation and learn more about our estate planning services.