How Should a Couple Decide Where to Retire?
Q: Dear Bruce,
My partner and I are planning for retirement. We had thought about moving to Florida, but the state’s anti-gay adoption law makes us wonder if we’d feel welcomed there. Some of the other Sun Belt states also have less-than-perfect records on gay, lesbian, bisexual and transgender issues. Should we be thinking about state laws pertaining to older folks, in addition to the climate, when deciding where we will spend our golden years?
Sincerely,
Jeff
A: Dear Jeff,
As GLBT individuals, we do have more issues to consider when selecting a community for retirement. Laws concerning wills, powers of attorney, same-sex unions and estate planning documents vary from state to state.
I encourage you to contact an attorney with experience addressing the needs of GLBT clients and seek his or her input as to how the law of your new state will affect your lives.
Here are some examples:
- If you have a domestic relationship or partnership agreement, it should be reviewed in light of the laws of the state where you plan to retire.
- The requirements for durable power of attorney for financial affairs can differ from one state to another.
- The ability to exercise a durable power of attorney for health care is allowed in some states, while in many others the statutes are silent.
- Likewise, most states have living will statutes, but only half the states have statutes on surrogate decision-making.
- State laws vary on how a guardian can be appointed and the procedures for doing so.
- The eligibility standards and benefits provided by Medicaid are determined by each state (in accordance with federal minimum requirements).
In addition to legal considerations check out the Eldercare Locator, a public service of the U.S. Administration on Aging. The service links those who need assistance with state and local area agencies on aging, as well as community-based organizations that serve older adults and their caregivers. Contact these organizations to identify senior services geared toward GLBT elders in the community you are considering.
Although not all contingencies can be anticipated, deliberate planning for your future needs is a good beginning for a successful retirement.
Best wishes,
Bruce J. Lederman
Lederman is a principal at Wealth Fortified Resources, Ltd., Chicago, Ill.
July 27, 2004