Marriage Makeover: Same-Sex Couple Edition

While I’m providing roadmaps, I wanted to make sure that you same-sex couples out there can find the planning aspects that affect your relationship in one place. As I said before, the impetus for this blog came from the exciting progress that we’ve made with marriage equality and its impact on financial planning for same-sex couples.

Some key things to remember:

Congrats! You can get married: Because of the Supreme Court ruling in The United States v. Windsor, same-sex couples are entitled to all federal rights and protections offered to legally married spouses, if they marry in a state that recognizes same-sex marriages.

Consider arguments for and against marriage: You don’t have to get married just because you can. You need to weigh the pros and cons for your situation and consider the financial ramifications of tying the knot.

Government agencies may view your marriage differently: Some federal agencies recognize your marriage based on where you marry, while others only give benefits based on where you live. Make sure to know which scenario applies to you.

You will experience some growing pains: Trying to implement these new rights has caused some growing pains. Keep tabs on the  rules that apply to you and your new marriage and know when other protections no longer benefit you.

States still have the right to deny the validity of your marriage:  The federal government may recognize your marriage, but some states may not. Know your rights in these states and protect yourself as much as possible through proper financial planning

I will continue to add to this list when writing future posts. I hope it provides an efficient way to navigate the current legal and financial patchwork.