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How did election change estate planning?

Implications of Trump win for gay couples

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estate planning, gay Republicans, gay news, Washington Blade

The outcome of the election could have implications for you — especially if you live in Virginia. (Washington Blade photo by Michael Key)

This is the seventh in a series of articles to help you understand what you do know, don’t know and should know about estate planning.

I had planned to end my series of columns by making the point that not just any attorney can handle estate planning for same-sex couples. However, I was worried that topic might sound self-serving. Yes, you do need to be thoughtful about selecting an attorney for this job. Same-sex couples have a range of issues that may not be familiar to some attorneys. We often have complicated past relationships and difficult family dynamics that a typical attorney may not understand. However, that is not the message that I want to leave you with.

Instead, the events of November should make it crystal clear that having any type of estate planning documents in place continues to be critical for same-sex couples. We are facing an uncertain future legal climate, especially for those folks who live in Virginia. I don’t mean to suggest that I think marriage will be overturned, but Virginia is the only one of our local jurisdictions that obtained marriage as a result of a court decision. Rather, I think this new uncertainty serves to highlight the message that I’ve given to friends, colleagues and clients over the years. That is, that the world changes at warp speed in ways that are frequently unpredictable. The person that you thought would make a great choice on your medical power of attorney may turn out to be the one who never visited you in the hospital after your surgery.  The nephew that you named backup on your financial power of attorney? He just filed for bankruptcy. The parent that you are so concerned about just confided how they had voted for the candidate that promises to appoint Supreme Court justices to overturn marriage, including your own.

More than ever we need solid wills, healthcare powers of attorney and financial powers of attorney. If you have a partner but you’re not married, having all of these documents in place and perhaps others is beyond critical. In neither Virginia nor Maryland do domestic partners have any rights to inherit from a deceased partner in the absence of proper documents. (In the District, the answer may be different.)

The single most shocking fact that I have learned in all my years of doing estate planning work is the number of couples that live in a home that is only owned by one of them. That remains the ultimate nightmare that can be avoided through careful planning.

I hope that you have been paying attention to my earlier columns in this series. They dealt with many of the issues about estate planning that people get dramatically wrong. If you’d like a copy of any of those, please e-mail me at  [email protected].

(This column is not intended to provide legal advice, but only general guidance that may or may not be applicable to your specific situation.)

Larry Jacobs has helped hundreds of same-sex couples and LGBT singles in the Washington area protect their assets and loved ones through partnership planning. He is a partner at McMillan Metro, P.C. and has practiced law for more than 41 years. He is admitted to the bar in Maryland, Virginia and the District of Columbia. Learn more at PartnerPlanning.com.

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Local scientific non-profit U.S. Pharmacopeia kicks off Pride month

Council member Glass helps raise Progress Pride flag

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USP leadership join Montgomery County Council Member Evan Glass in raising the Progress Flag at USP’s Rockville offices as part of a celebration to kick off Pride month. Pictured from left to right: Denver Weil, scientist; Anthony Lakavage, SVP Global Communications; Council member Evan Glass; Michael Schmitz, Director of International Advocacy; Laurel Faust, Principal Scientific Editor; Brandon Bickerstaff, Internal Communications Manager; and Medardo Perez representing the USP Equity Office.

Montgomery County Council Member Evan Glass, joined almost 100 staff members and their families at U.S. Pharmacopeia (USP) to raise the “Progress Flag” and kick off a month-long celebration of Pride at the scientific non-profit in Rockville and in their offices around the world.

USP leadership and Council Member Glass each shared personal stories of their own journeys in addition to recalling the evolution of Pride from a day of protest to a month of celebration. Laurel Faust, USP Principal Scientific Editor – Publications recalled how in the 1980s a task many in D.C. now take for granted, getting a security clearance for a job, involved pointed questions that could lead to termination, investigation, or both.

Pride is much more than gay rights – it is an intersectional issue that speaks to the importance of human rights, said both Council Member Glass and Brandon Bickerstaff, head of the USP Black Employee Resource Group. They each reminded the audience that Black trans women were the original targets of police brutality during the Stonewall Uprising that served as the catalyst to the Pride movement.

“USP recognizes that Pride month has evolved to become much more than a march, a celebration, or the commemoration of an anniversary,” said Anthony Lakavage, Senior Vice President, Global External Affairs & Secretary, USP Convention & Board of Trustees and eQuality Alliance Executive Sponsor. “It is a time that brings the LGBTQ+ and straight community together in the shared mission of advancing human rights and dignity.”

The day’s events were sponsored by the eQuality Alliance, USP’s LGBTQ+ Affinity Group, and the USP Office of Organizational Culture, Equity and Inclusion (Equity Office). USP’s Equity Office focuses on driving a more inclusive culture at the organization. The Equity Office encourages staff to participate in Affinity Groups, which comprise of employees who drive dialogue and educate staff about challenges faced by and the history these marginalized communities often share. USP’s Affinity Groups include those around race, gender, national origin, sexual orientation, Veterans’ status, disability and diverse minds & bodies. The groups enable staff to support one another, connect frequently, and contribute to each other and the organization at a high level, thereby instilling a more inclusive work environment.

Michael Schmitz, International Advocacy Director and Laurel Faust, Principal Scientific Editor – Publications, are co-leads of the U.S. Pharmacopeia Affinity Group.

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Study: One in ten LGBT workers experienced discrimination at work

LGBTQ employees of color were more likely to report being denied jobs and verbal harassment at work as opposed their white counterparts

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bullying in the workforce, gay news, Washington Blade

LOS ANGELES – A new study by the Williams Institute at UCLA School of Law finds an estimated 46% of LGBT workers have experienced unfair treatment at work at some point in their lives, including being fired, not hired, or harassed because of their sexual orientation or gender identity.  

An estimated 9% of LGBT employees reported experiences of discrimination in the past year, despite the U.S. Supreme Court’s 2020 decision in Bostock v. Clayton County, which extended employment non-discrimination protections to LGBT people nationwide. Approximately 11% of LGBT employees of color reported being fired or not hired because of their sexual orientation or gender identity in the last year.

Using survey data collected in May 2021 from 935 LGBT adults in the workforce, researchers examined lifetime, five-year, and past-year discrimination among LGBT employees.

Results show that over half (57%) of LGBT employees who experienced discrimination or harassment at work reported that the unfair treatment was motivated by religious beliefs, including 64% of LGBT employees of color and 49% of white LGBT employees.

“Employment discrimination and harassment against LGBT people remain persistent and pervasive in 2021,” said lead author Brad Sears, Founding Executive Director at the Williams Institute. “Passing the Equality Act would ensure that LGBT people—particularly transgender people and LGBT people of color—are allowed to participate fully in the workplace as well as other public settings.”

ADDITIONAL FINDINGS:

Discrimination

  • 30% of LGBT employees reported experiencing at least one form of employment discrimination (being fired or not hired) because of their sexual orientation or gender identity at some point in their lives.
  • 29% of LGBT employees of color reported not being hired compared to 18% of white LGBT employees.

Harassment

  • 38% of LGBT employees reported experiencing at least one form of harassment (including verbal, physical, or sexual harassment) at work because of their sexual orientation or gender identity at some point in their lives.
  • LGBT employees of color were significantly more likely to experience verbal harassment than white employees.
    • 36% of LGBT employees of color reported experiencing verbal harassment compared to 26% of white LGBT employees.

Religious Motivation

  • Of employees who experienced discrimination or harassment at some point in their lives, 64% of LGBT employees of color said that religion was a motivating factor compared to 49% of white LGBT employees.

Avoiding Discrimination

  • Half (50%) of LGBT employees said that they are not open about being LGBT to their current supervisor and one-quarter (26%) are not out to any of their co-workers. 
  • Many LGBT employees reported engaging in “covering” behaviors to avoid harassment or discrimination at work, such as changing their physical appearance and avoiding talking about their families or social lives at work.
    • For example, 36% of transgender employees said that they changed their physical appearance and 28% said they changed their bathroom use at work to avoid discrimination and harassment.

Read the report

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Business

Time to dust off your pre-pandemic budget

We can no longer rely on closures to restrict us from spending money

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With pandemic restrictions lifting, we’ll all be spending more on going out in 2021 than we did last year.

D.C.’s first ‘mostly open’ weekend shows there is a year’s worth of socializing built up. It was amazing to feel the energy of the District roar back to life. From long lines outside bars to literal dancing in the streets – this is the city we all came to love. Now that the physical hangover may have subsided, you should prepare for the financial hangover. If you were lucky to keep your full pay and position through the pandemic, data tells us most of you were paying down debt.

The first thing everyone needs to do is dust off that old pre-pandemic budget. Sadly (or really luckily), we can no longer rely on health restrictions to naturally restrict us from spending. If you need a refresher, start with your post-tax income. From there, subtract ‘fixed’ or required expenses, like rent, and the balance is what you get to play with. Some may ask why I don’t use gross income (aka the before tax income) like many financial institutions do for credit applications. Frankly, it’s because net income (aka the money you actually receive) is the most practical number to budget daily life with. It’s what you can tangibly use to live.

Now as you develop your budget, return to using an app like Mint to take some of the work out of it. If you prefer to retain some level of privacy, many banks offer their own version of ‘spending trends’ that you can use to put together a more simple budget. This time the challenge is a bit different – we are all ‘restarting’ our social lives. So instead of having to ‘cut’ things, we can better prioritize what we actually want to do. Still – it is not easy or fun to have to choose, but every dollar you don’t spend today, will be there for the next rainy day.

Finally, so many of our friends and family lost their jobs or had their wages cut during the pandemic. Expanded unemployment benefits helped, but anyone trying to budget for life in D.C. knows that choices had to be made and often rent/utilities took a back seat to eating. Luckily, a state-run, but federal program will help people pay back rent and utilities, so they can focus on getting back to work. In D.C., this is called StayDC, but each jurisdiction offers a similar program.

Be prepared to do a little homework, you will need proof of income (or lack thereof) and documentation of the late payments. Finally, your landlord will need to complete separate forms, but it is in their best interest to receive those funds, so don’t let them drag their feet. The program will cover back rent to April 2021, three months of future rent, and past utilities. Do not delay, nor feel any shame by participating – this is the key to your long term success and, frankly, is a drop in the bucket compared to other spending priorities.

I hope this helps and I wish everyone a much more fun and prosperous 2021.

Information contained herein is for informational purposes only and should not be considered investment advice or recommendations. Advice may only be provided after entering into an advisory agreement with an advisor.

Alex Graham is a Principal at Graham Capital Wealth Management, a registered Investment Advisor located on K Street.

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