This year’s Supreme Court decision legalizing same-sex marriage has brought about major changes to estate planning for same-sex couples. There are still some bureaucratic hurdles that same-sex couples might face. It is important to make sure that all financial and testamentary documents like trusts and wills are updated to reflect the changes in the law. If a same-sex couple is thinking about getting married they should plan ahead carefully instead of rushing the decision. Getting a pre-nuptial agreement is a very important estate planning decision. It is also a good idea to apply for a Federal tax refund for health insurance payments made by a spouse. Same-sex couples should seek out the advice of competent estate planners to help decide on all of these important issues.
See Melissa Montgomery-Fitzsimmons, A Checklist for Advising Same-Sex Clients, Financial Planning, August 21, 2015.
Special thanks to Jim Hillhouse for bringing this article to my attention.
