CFP

Estate Planning For Non-Traditional Relationships - Answer Key

1. B

Community property and tenancy by the entirety are between spouses and will not meet the needs of same-sex relationships. Tenancy in common is probated, so intestate laws will kick in and overlook the partner in the relationship. Joint tenancy with rights of survivorship is the only property title listed here that will take care of Jim in the event of Jeff's death.

2.
C

Tenancy by the entirety is for spouses only. Annuities pass by contract, so you should inform Rebecca to obtain the primary beneficiary change forms from her annuity insurance company. Listing the annuity in the will takes second hand to beneficiary designations.

3.
C

Prenuptial marriage certificates would not be a good recommendation at this time. However, should they change their minds and consider marriage down the road it might be a viable consideration since they both have children from previous marriages. All the other documents should be considered.


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