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Estate Planning for Same-Sex Couples in a Post-Trump Administration World

1h 30m

Created on June 22, 2017

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Overview

On June 26, 2015, the Supreme Court recognized the right for same-sex couples to marry in every state. Previously, it was up to each state whether same-sex couples could legally marry. Even so, such valid marriages under state law had only recently gained federal recognition.

Same-sex couples often have estate planning needs that are unique to the community. While they enjoy the same rights and benefits as opposite-sex couples, family dynamics and social stigma still play a part. Although there may not be a legal obstacle to  marry, same-sex couples need to evaluate the pros and cons when considering whether to wed.

With the patchwork of legal decisions granting same-sex marriage rights across the country and the Supreme Court finally applying those rights equally, married couples may have access to benefits that are retroactive, or have otherwise not been realized or captured. Scott E. Squillace, a Boston-based estate planning attorney, discusses practical estate planning tips for same-sex couples, whether  to wed from a legal, tax and financial planning perspective, capturing previously unavailable benefits, and the possibility of losing national marriage equality. 


Learning Objectives:  
  1. Achieve a basic understanding of the legal path to marriage equality
  2. Gain practical estate planning tips for  same sex couples
  3. Identify the pros and cons of marriage from a legal, tax and financial planning perspective
  4. Become aware of a potential “marriage bonus” or “marriage penalty” couples face when filing federal income tax returns
  5. Understand how various benefits may be retroactively available to married couples
  6. Appreciate the concern within the LGBTQ community that the current administration could set back marriage equality through the Supreme Court

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