There are new realities to deal with in estate planning, as families become increasing varied in their dynamics. The Raymond James Point of View names several of those new realities, including the legalization of same-sex marriage, the general increase in non-married couples, and the steady divorce rate.
One modern family estate planning situation that has the potential to turn into a “dilemma” has to do with what Point of View calls “accounting for the kids”. “These days, children can become part of a family in seemingly endless ways” in addition to “traditional” situations; the Raymond James authors observe, including:
- adoption (by both heterosexual couples and same sex adoptive parents)
- in vitro fertilization
- implantation via surrogate
- foster parenting
- posthumous reproduction (father dies after a child is conceived but before it is born)
At our Indianapolis estate planning and elder law firm, we help clients create an individualized estate plan in every one of these “non-traditional” situations. Fortunately, today a full range of legal options can be explored, options that were not available even a generation ago.
Adopted children, by law, are to be treated the same as biological children, but since that has not always been the case, at Geyer Law, we carefully review older estate planning documents to see if new language needs to be inserted.
Assisted Reproductive Technology
Contracts are usually put into place before such procedures are done; still, there is the potential for surrogate mothers or sperm donors to claim rights under the estate unless these issues have been properly addressed in parents’ estate planning documents.
Since Rebecca W. Geyer & Associates practices law in the state of Indiana, we should point out that there are certain important and detailed differences in the way our courts consider certain nontraditional family matters. Just two examples include:
- Surrogacy arrangements have two separate aspects: contract enforceability and parentage establishment with the court, therefore there are two separate legal processes involved.
- LBGT individuals can adopt the child of their same-sex partner and can also be named on the birth certificate.
At Geyer Law, our goal is always to combine expertise in the law with highly individualized and compassionate recommendations. The times they are a-changing, and estate planning must accommodate those changes.