Coming Out Together Seminar Previews Legal and Financial Estate Planning For The Gay Community This Thursday

by Bambi Weavil

On August 20^th, Out Impact presents Coming Out Together, a special estate planning seminar for the gay community at Riverboat Landing (2 Market St.)  featuring special guests from the financial and law communities free of charge.  Special guests include Mitzi Kincaid of Kincaid and Associates, L.L.C.; Katie Medina, CSNA, Kopka & Medina Group, Merrill Lynch; Megan Kopka, CSNA, Kopka & Medina Group, Merrill Lynch; and Chip McLeod, CFP, CRPC of Merrill Lynch. Mitzi spoke with us recently giving us a preview of what gay men and women, singles and couples, should look for when planning their future legally and financially together:

What do you feel is the biggest misunderstandings in your experience with the gay community and estate planning?

Mitzi Kincaid:  I believe the gay community is very similar to other communities in that they do not have access to good accurate information about the choices available to them. I also think they do not fully understand estate planning or believe that if they do not have a great deal of money they do not need a will; exactly the opposite is true; they need a will perhaps more than anyone.

What kind of disadvantages do the gay community face in estate planning?

Mitzi Kincaid:  Laws in NC favor marriage between a man and a woman so we have to utilize contracts and legal methods to provide for the gay community since the laws typically do not favor them. Gift taxes can be a problem as well as seeing and providing input on health care decisions of a partner since they are not “family”. Gay couples should also have domestic partner agreements that describe how assets are paid for, and how they might be distributed if the partners are no longer together.

What kind of services do you offer with your practice?

Mitzi Kincaid:  We offer estate planning that includes wills, trusts, special needs trusts, business formation and planning, taxation and other general practice areas for everyone.

What can the gay community expect at the upcoming Out Impact presents Coming Out Together seminar?

Mitzi Kincaid:  We will be providing some good information on what you need in your estate plan and how you can use good financial and legal planning to avoid unnecessary financial and legal burdens. It will be a good time to speak to knowledgeable people about a variety of topics of interest to the gay community.

Why is working with the gay community important to you?

Mitzi Kincaid:  I believe the gay community is underserved and hope to be a trusted source of information and guidance in ensuring their wishes and needs are met. We all work hard for our money and we all deserve to distribute it the way we like regardless of our social status, or sexual orientation.

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This is a limited engagement with only 100 seats available. Beverages will also be provided from Front Street Brewery. Guests must RSVP to reserve their seating. For more information, please visit http://www.outimpact.com/events. To RSVP, e-mail estateplanning@outimpact.com with your name and phone number. For more information please visit http://www.outimpact.com/events or by calling (910) 538-4309.