“The Stonewall Legacy Project: LGBTQ Professionals Launch Initiative to Support Aging Community”
LGBTQ financial advisors, estate planning lawyers, and other professionals have come together to launch The Stonewall Legacy Project, a groundbreaking initiative aimed at addressing the unique challenges faced by older LGBTQ adults in the realm of estate planning and philanthropy. Led by planner Laura LaTourette, the project is named after the historic 1969 Stonewall Uprising and seeks to provide a central resource for LGBTQ individuals seeking specialized financial and legal services.
According to LaTourette, the aging Stonewall Generation is facing specific obstacles related to their identity, particularly in light of ongoing political efforts to restrict LGBTQ civil rights. In response to these challenges, the project aims to create a directory of professionals who understand the needs of LGBTQ clients and are equipped to provide tailored services. By building a strong national philanthropic committee, the project seeks to empower the LGBTQ community to proactively support its own causes and initiatives.
The project’s steering committee, which includes advisors, lawyers, and nonprofit organizations, is working to raise awareness about the importance of estate planning for LGBTQ clients and the significance of leaving assets to LGBTQ organizations. By inviting professionals to sign a pledge committing to this mission, the project hopes to amplify the impact of planned giving within the LGBTQ community and foster a culture of support and advocacy.
Experts interviewed for the project, including financial advisor Jana Davis and wealth advisor Barbara Bilello, emphasize the importance of proactive estate planning for LGBTQ clients. They highlight the need for specialized services that take into account the unique challenges faced by LGBTQ individuals, such as the scrutiny of their relationships and the importance of protecting their assets from government interference.
As more large RIAs and wealth management firms invest in units specifically targeting LGBTQ clients, the project aims to provide a valuable resource for advisors and clients alike. By offering insights on key areas of estate planning for LGBTQ individuals and promoting awareness of the importance of planned giving, the project seeks to empower the LGBTQ community to secure their financial futures and support causes that are meaningful to them.
In conclusion, The Stonewall Legacy Project represents a significant step forward in addressing the financial and legal needs of the LGBTQ community, particularly older adults who may face unique challenges related to their identity. By providing a platform for specialized services and promoting a culture of philanthropy and advocacy, the project aims to empower LGBTQ individuals to take control of their financial futures and support causes that align with their values.