Is a Living Trust a good idea for a GLBT person?
Yes. If you’re part of the Gay, Lesbian, Bisexual, and Transgender community, a Living Trust offers protection for your estate, as well. It will completely eliminate a living probate, a death probate and you can pass $3.5 million in 2009. The amount reverts to $1 million in 2011 after a brief repeal of the tax in 2010. Further, it allows you to override the laws that fail to recognize the importance of your domestic partnership.
