Addressing the Unique Financial Issues Faced by Same-Sex Couples

Much has changed for same-sex couples since the U.S. Supreme Court ruled in 2015 that states must legally recognize same-sex marriage. By giving same-sex couples equality with heterosexual couples in the eyes of the law, the decision afforded them access to more than 1,000 legal benefits, rights, recognitions and protections, many of which have a bearing on their financial lives, from the ability to file joint tax returns to the right to share Social Security benefits to access to an unlimited estate tax deduction on the transfer of wealth between a deceased spouse and his or her surviving spouse.

Despite now being on equal legal footing with their heterosexual counterparts, at least with respect to marriage, same-sex and LGBTQ couples, married or not, continue to face a unique set of financial issues. Here’s a look at four areas where these issues can be particularly challenging, with suggestions from financial professionals on how to address them.
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