Thompson Law, P.C.

Estate & Business Planning Attorneys in Sioux Falls, South Dakota

605-362-9100
Estate Planning Attorneys in South Dakota
  • Home
  • Our Firm
    • About Our Firm
    • Our Team
    • Client Testimonials
    • Employment Opportunities
  • Services
    • Asset Protection & Business Planning
    • Elder Law & Medicaid Services
    • Estate Planning Review
    • Estate Planning Services
    • Family-Owned Businesses & Farms
    • Succession Planning
    • Incapacity Planning
    • IRA & Retirement Planning
    • Legacy Planning
    • Pet Planning
    • Special Needs Planning
    • Trust Administration & Probate
    • Estate and Gift Tax Figures
  • Resources
    • Professional Resources
    • Estate Planning Seminars
    • Estate Planning Articles
    • DocuBank
    • Newsletters
    • Frequently asked questions
      • Estate Planning FAQ’s
      • Trust Administration & Probate Frequently Asked Questions
      • LGBT Estate Planning Frequently Asked Questions
      • Frequently Asked Questions for Families Without an Estate Plan
      • Legacy Wealth Planning FAQ’s
  • Events
  • Reports
    • Advanced Estate Planning
    • Basic Estate Planning
    • Estate Planning for Niches
    • Trust Administration
  • Contact Us
  • Blog

Is a Living Trust a good idea for a LGBT person?

January 30, 2019 by Carolyn Thompson

Yes. If you’re part of the Lesbian, Gay, 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 minimize or eliminate estate taxes. Further, it provides privacy from prying eyes. … [Read more...]

Do unmarried couples have to plan more than married couples do?

January 30, 2019 by Carolyn Thompson

Yes. The default in state law, called “intestacy,” is designed with married couples in mind. If a married couple dies without any estate plan, the survivor will get a good portion of the assets left behind. However, if you’ve not married, or you are in a state that does not recognize domestic partnership or civil union, your survivor would get nothing. Instead, the family of origin of the partner who died would get anything in that partner’s name, including bank accounts, real estate, etc. … [Read more...]

Are my estate planning documents a matter of public record?

January 30, 2019 by Carolyn Thompson

Only your Will is a matter of public record. Your Revocable Living Trust and your Powers of Attorney are not public. Therefore, by using a Revocable Living Trust you can maintain the privacy of your wishes. Prying eyes of co-workers and neighbors will not have access to the details of your estate plan. … [Read more...]

Is there a tax if I give some of my property to my spouse or partner?

January 30, 2019 by Carolyn Thompson

Maybe. Federal law allows married couples to give each other an unlimited amount of property without gift tax during life or estate tax at death. Federal law does not recognize non-marriage relationships. However, each person gets to give up to his or her tax exclusion during their lifetime to anyone they want. But, any use during lifetime reduces the amount available for transfers at death. In addition, anyone can make a gift to any other person, called the Annual Gift Tax Exclusion, without … [Read more...]

Will my spouse or partner be appointed guardian of my minor child?

January 30, 2019 by Carolyn Thompson

Unless your spouse or partner has adopted your minor children, a court would decide what would be in the child’s best interest. Typically, your family of origin and that of the child’s other biological parent are given preference by the court. However, in your last Will, you can nominate your spouse or partner to be the guardian for your minor child. The court will then give weight to your suggestion while weighing what is in the child’s best interest. … [Read more...]

Can I make decisions about my spouse or partner’s remains?

January 30, 2019 by Carolyn Thompson

Yes, if you are married or in a registered relationship and in a state which recognizes that relationship. However, if you’re either, i) not married or in a registered relationship, or ii) you are in a state which does not recognize that registered relationship, then default state law allows your partner’s family of origin rather than you to make those decisions. However, if your spouse or partner designates you as agent under their Health Care Power of Attorney, then you would be able to make … [Read more...]

How can I be sure that I will be allowed to visit my spouse or partner in the hospital or assisted living facility?

January 30, 2019 by Carolyn Thompson

If you are married or in a state that recognizes civil unions or domestic partnerships and you register as such, proof of such registration would be sufficient. Otherwise, you would need to have your spouse or partner designate you as agent under their Health Care Power of Attorney. The agent also can limit other visitors. … [Read more...]

Can my spouse or partner make medical decisions for me if I’m sick?

January 30, 2019 by Carolyn Thompson

If you are in a marriage, registered domestic partnership, or civil union, recognized by the state in which you live, your spouse or partner can make those decisions for you. If you are not in a registered relationship, or that relationship is not recognized by your state, then state law would recognize your family of origin to make those decisions. However, you can override state law and give your spouse or partner the authority to make such decisions by signing a Health Care Power of Attorney. … [Read more...]

Can my spouse or partner handle my financial affairs if I am incapacitated?

January 30, 2019 by Carolyn Thompson

No, you have to do estate planning in order to allow your spouse or partner to have that authority. Specifically, by designating your spouse or partner as agent under a General Durable (Financial) Power of Attorney, he or she can make decisions on your behalf regarding financial matters. … [Read more...]

I’m married, why do I need to plan?

January 30, 2019 by Carolyn Thompson

There are many important reasons to create an estate plan, such as avoiding probate, minimizing taxes and providing creditor and divorce protection for beneficiaries. … [Read more...]

  • 1
  • 2
  • Next Page »

News Categories

  • Video
  • Legal Education
  • Estate Planning
  • Event
  • Coffee with Carolyn
  • Estate Planning
  • General

Follow Us

  • Facebook
  • LinkedIn
  • YouTube

Free Estate Planning Worksheet

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.
  • This field is for validation purposes and should be left unchanged.

Thompson Law, P.C.

Thompson Law, P.C.
5027 S. Western Avenue
Sioux Falls 57108
Phone: 605-362-9100
Fax: (605) 362-9101

Office Hours

Monday8:00 AM - 5:00 PM
Tuesday8:00 AM - 5:00 PM
Wednesday8:00 AM - 5:00 PM
Thursday8:00 AM - 5:00 PM
Friday8:00 AM - 12:00 PM

Map/Location

cathompson_sidbr_map
Footer Logo

The information on this website is for general information purposes only. Nothing on this or associated pages, documents, comments, answers, emails, or other communications should be taken as legal advice for any individual case or situation. This information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.

Privacy Policy | Terms of Service | Disclaimer | Site Map | Powered by American Academy of Estate Planning Attorneys

© 2019 Thompson Law, P.C., All Rights Reserved.

Copyright © 2019 · Thompson Law, P.C. - Silver on Genesis Framework · WordPress · Log in