Financial Planning Reconsiderations for Same-Sex Marriage Couples

In June, the U.S. Supreme Court made changes to the Defense of Marriage Act that has greatly impacted the financial planning of same-sex marriage couples.

By Ingrid Case, Financial Planning Magazine:

Among the planning issues affected by the high court ruling are:

* Transferring property to a spouse during a client’s lifetime without owing federal gift tax.

* Inheriting property from a spouse without paying federal estate tax.

* Filing federal taxes jointly.

* Receiving a spouse’s Social Security benefits.

* Receiving pension survivorship benefits.

* Receiving spousal benefits without owing taxes on the benefit value.

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Davis & Hodgdon Associates has been assisting businesses and individuals in the Burlington Vermont Metro area for more than 20 years. If you have any questions or concerns please feel free to call 802.878.1963 or email [email protected].

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