Transcript for Episode 10

Published June 23, 2022 

 

In this episode of Your Active Wealth, host Ben McGloin, head of advice, planning & fiduciary services at BNY Mellon Wealth Management, speaks with Lee-ford Tritt, professor of law and director of the center for estate planning at the University of Florida College of Law, on some of the key wealth planning issues facing LGBTQ+ couples today.  The conversation sheds light on the benefits of different types of trusts, how second-parent adoption and blended families factor into estate planning, why changing pronouns may call for more flexible wills and more. According to Tritt, while many LGBTQ+ couples have intricate estate planning tools like GRATs, GRUTs and IDGTs, they tend to overlook essentialities like health care proxies, living wills and durable power of attorney. Tritt also shares helpful tips and tools that can make their estate plans more efficient, regardless of marital status.

 

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