Gay lesbian financial planing

Same-sex couples should consider meeting with a financial planner to help with these decisions. You should discuss your specific situation with a qualified tax or legal advisor. Let's Connect Send us a quick message Financial services firms targeting the LGBT community need to make sure they also support the community in other ways, Nelson cautioned. Share Tweet Reddit Flipboard Email.
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Retirement is a struggle for gays and lesbians; bias can be financially costly

September 30, As Seen In. We all know the stereotype of the typical gay man …. November 30, As Seen In. August 14, As Seen In. As a result, same-sex couples have a smaller safety net than heterosexual married couples because they are not eligible to receive Social Security or pension survivorship benefits. On January 18, , the Internal Revenue Service "IRS" published administrative guidance in Notice , providing specific policy and procedures for retroactively changing the tax
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JHG Financial Advisors | LGBT Community Financial Planning

For instance, if both spouses are self-employed, it may actually be more beneficial to file individual returns. For many of us, the question of who will take care of us when we are "old" seems obvious. By using this site, you agree to the Terms of Use and Privacy Policy. Orman is also creator of a number of non-book products, primarily CD-ROM-based services that offer education and various financial services usually in conjunction with her books and writings. November 13, Alert.
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It's not possible to make generalizations -- you'll just need to do your own homework. As a result, same-sex couples have a smaller safety net than heterosexual married couples because they are not eligible to receive Social Security or pension survivorship benefits. But while the group overall is not ready to retire, gay baby boomers face challenges that make them even more vulnerable, experts say. Items in your estate that don't have beneficiary designations or are titled as "joint tenants with rights of survivorship" will flow through your will. How to stretch an IRA. There are many details that you'll need to pay attention to -- in particular, benefits that often occur automatically for married straight couples. Estate taxes were the focal point of the most recent appeals court ruling finding that DOMA is unconstitutional ; the case was brought on behalf of Edith Windsor of New York City, whose spouse, Thea Clara Spyer, passed away in
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