January 2 1 .2000» j i l t ■ ■ » 19
To paraphrase a lyric from Donna Summer, "W e work hard for the money"
— so let's not squander it! From investing to estate planning to buying a home,
Just Out offers a few tips to take to the bank
DOLLARS
& SENSE
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Whether you yearn for a bungalow In 97214
or a cabin over yonder, here are some tips to ponder
by
O riana G reen
ne of the biggest decisions any queer couple
makes is to buy a home together. Luckily,
there are many resources available to
smooth the process and aid in securing that
little slice of heaven.
The Portland metro area abounds in gay-friendly
real estate agents, mortgage brokers and attorneys
who can add that extra bit of expertise to ensure you
get the result you want. It could be especially helpful
to work with a queer agent if you’re unfamiliar with
the area and want to live in a welcoming neighbor
hood.
ner owns a joint tenancy with right of survivorship—
which means when one partner dies the other retains
full ownership.
Another method is to create a trust that owns the
house and other properties. The partners can be the
trustees and also the beneficiaries. When one partner
dies, the terms of the trust dictate that the property
shall be maintained for the benefit of the surviving
partner. This option is especially good for estates
worth more than $600,000. Since the trust owns the
property, the dying partner’s estate is not subject to
federal taxes.
P H O T O S B Y M A R TY DAVIS
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Setting roots
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Floyd Sklaver (right) and partner Mark Acito living “ la vida domestica’
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When Mark Acito and his partner, Floyd Sklaver,
relocated here from New York, they were happy to
have some help finding a more secluded location after
they looked at suburban homes that to them “just felt
too exposed, too June Cleaver-might-live-here.”
O f course, others might prefer a location close to
one of the city neighborhoods known for a high homo
density or an area rife with queer-owned businesses.
One tip they offer is to examine voting demo
graphics of a prospective neighborhood as a rough
gauge of prevalent attitudes. Acito says he and his
partner bought in the most Democratic area, and “as
it turns out, we have very liberal neighbors, who are
now among our closest friends,” he adds with relief.
“In terms of consciousness-raising we’re always
right there changing people’s opinions,” he adds.
In fact, Acito’s experiences as a gay man living in
deepest suburbia led directly to the creation of his
comic strip, “The Boys Next Door.”
ut wherever you buy, do consider your options
for protecting each partner’s investment.
a
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B
Lake Perriguey, a Portland-based gay attor
ney, offers some fairly simple tips. When pur
chasing property together, be sure to have the prop
erty deeded and the title recorded so that each part-
Perriguey also counsels queer couples to consider
getting POD (pay on death) forms from their banks
and to fill out beneficiary directive forms on all retire
ment accounts. This ensures that funds will automati
cally transfer at death to the person named on the
form. This is one of the easiest steps to take and does
not require a lawyer or even a notary to carry out.
Another suggestion is for both partners to draft
living wills giving power of attorney to each other so
that, in case of debilitating illness, medical and legal
decisions can be carried out.
These are just general suggestions— you should
consult your own attorney— but they are offered in
hopes of spurring some of you to take action to pro
tect your investments before it’s too late.
nother facet of home buying to keep in mind
is that it’s rarely a linear process. Being open
to serendipity and downright miracles can
have a big impact on the whole experience.
Take the case of Daniel Dale and his partner,
Michael Byerley, who first rented a house from a gay
man and over a decade invested $20,000 in the prop
erty— repairing and improving it, and creating a fabu-
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