Affordable Estate Planning for LGBTQ+ Individuals & Families with Mitch Mitchell

In this episode of Everyone's Talkin' Money podcast, we're covering affordable estate planning for LGBTQ+ individuals and couples with Mitch Mitchell, Associate Counsel of Estate Planning at Trust & Will. Our money system in this country is outdated and antiquated and, by far, does not meet the needs of LGBTQ+ individuals and families. When it comes to estate planning and making sure that your assets get passed to who you want, things can get even more complicated if you’re in the LGBTQ+ community. Different states have different laws, and figuring it all out is hard. You'll Learn:

What makes estate planning for LGBTQ+ individuals so challenging

What are the essential estate planning documents you need

How much estate planning costs (and how to make it more affordable)

How do you handle estate planning if you have kids, are adopting, or using a surrogate

Why the home-buying process can be tricky for LGBTQ+ couples and individuals

Links Trust & Will How to Find an Estate Planning Attorney article How To Connect with Shannah:

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Time stamps [00:01:05] Estate planning faces unique challenges. Mitch Mitchell discusses essential documents, costs, and issues for LGBTQ+ individuals. The episode covers adoption, surrogacy, and home buying. LGBTQ+ estate planning necessitates caution and creativity. Further progress is needed in achieving equality. [00:03:31] LGBTQ+ families face legal challenges in parenting [00:08:07] Challenges passing legislation in a politically charged environment [00:11:01] Choose your own plan, especially LGBTQ+ [00:14:57] Importance of having a will and trust [00:17:19] Choosing executor, setting up a trust [00:24:20] "In Texas, trusts can help avoid probate" [00:25:47] Marriage, property, and legal agreements for LGBTQ+ [00:28:51] Prepare in advance for LGBTQ+ parental rights [00:34:16] Traditional attorney route can be expensive. Trust and Will offer affordable options [00:38:24] Important to understand property ownership and inheritance [00:42:59] Estate planning advice, LGBTQ+ individuals, TrustandWill.com Learn more about your ad choices. Visit megaphone.fm/adchoices