Skip to Content

We are a Veteran Owned Business, providing 20% discounts for Veterans, First Responders, Elementary and High School teachers. Please contact us to set up a phone or Zoom meeting. Taking care of you and your family, It's What We Do!

How do I make sure there is an inheritance leftover for family once my partner dies?

Posted on Wed Oct 14, 2015, on LGBT Estate Planning

From our “Ask a Question” Mailbag: Philadelphia LGBT Trust Planning for the Future

Most Recently Updated July 22, 2018.

“I want to leave my long time partner my house. However, at his death I want it sold so the money can pass to my nieces. How can I make sure this happens?”

Philadelphia LGBT Trust Planning for the Future

Philadelphia LGBT Trust Planning for the Future

This is a common issue with LGBT couples. Often, one partner owns the house and—though they want their partner to be able to live in the house until the partner’s death — there is a concern about putting the house into the surviving partner’s name.

One option that often works well is to form a trust in your will into which the house passes at your death. If drafted correctly, the partner can live in the house, but the house itself is then sheltered from the surviving partner’s creditors and other future legal “complications.” At the surviving Partner’s death, you can then spell out in the trust what happens to the house.

There are other options, but the best way to sort out what answer best fits your situation is to have a free consultation. We can review your assets and your concerns about your Partner and you can then decide which, if any, of the options satisfy your specific situation.

More Planning Questions?

The trust document is only a piece of the Estate Planning process. By all means, if you want to learn more, please read my more detailed article, Estate Planning Everything You Need to Know.

In Conclusion: Philadelphia LGBT Trust Planning for the Future

I hope that this article was helpful in explaining trusts. Further, I included links to even more detailed information on my website so you can learn more. Therefore, please contact me and let me know how I did. Certainly, your comments and questions are welcome!

Let our Estate Planning lawyers help walk you through what can be a confusing process. To begin with, call to speak to one of our experienced estate planning lawyers.  By all means, our lawyers are ready to answer your questions. In fact, feel free to contact our office for a free consultation. Ultimately our goal is to make the process as painless as possible!

Wills, Trusts, Probate, and Estate Litigation, It’s All We Do!

 

Tags:

Estate Planning, Estate Planning Attorney, Estate Planning Lawyer, LGBT, LGBT Estate Planning, Pennsylvania, Philadelphia, Trusts

Peter KlenkPeter Klenk

What Our clients are saying

Klenk Law Logo
Stars

Ronald W.

Peter and his staff are very responsive and always willing to help my clients and in a cost efficient manner.

Klenk Law Logo
Stars

Brandon. L

Peter was excellent. He explained everything very clearly and is super friendly. My wife and I originally tried using a lawyer through group legal coverage, but unfortunately the old adage - "you get what you pay for" - applied to the other lawyer, and we decided to go with a real professional.

Klenk Law Logo
Stars

Sharon A.

We recently used Peter's firm to update our wills and trusts. We found he and his staff to be well-informed, professional and highly efficient. And equally valuable, Peter explains the law in terms that a layperson can readily understand.

Klenk Law Logo
Stars

Rocco D.

I have worked with Peter Klenk & his associates for some time now and I have found them to be ultra-qualified, knowledgeable and diligent about their work. I highly recommend them.

Klenk Law Logo
Stars

Tom Mettinger Sr.

Integrity, exceeding the client's expectations. In-depth knowledge of the law

Let us put our expertise to work for you.

Free consultation within 24 hours.