Supreme Court’s Same-Sex Marriage Decisions Effect On Estate Planning

As a result of the Supreme Court’s recent decision in Obergefell v. Hodges advisers of same-sex couples are going to want to update their client’s financial, tax, and retirement plans.  The decision will make it easier for same-sex couples to file joint tax returns.  Surviving spouses in same-sex marriages will be able to receive IRA retirement funds as a direct rollover.  Same-sex couples will now receive equal access to social security benefits and will also be able to transfer wealth to each other as spouses.  The Supreme Court’s decision will have a major impact on how same-sex couples plan for taxes, retirement, and inheritance. 

See Andrew Samalin, The tax, estate and retirement planning ramifications of the Supreme Court’s ruling on same-sex marriage, Investment News, July 1, 2015.