Same-Sex Married Couples Essential Tax and Estate Planning to Protect Assets

Same-Sex Married Couples Essential Tax and Estate Planning, Same Sex couples need to take important steps to protect assets and assess other potential risks. Below is a partial list. Be sure to check with your advisors.

Same-Sex Married Couples

Update all key legal documents to identify as a “spouse”
Check beneficiary forms on all plans and IRAs – primary and contingent beneficiaries
Check beneficiary forms for employer benefits, life insurance, annuities
Update wills and trusts – check provisions for children – guardians

Have proper documents for end of life decisions

Living Wills and Health Care Proxies
HIPAA Authorizations – The Health Insurance Portability and Accountability Act of 1996 (HIPAA) Privacy and Security Rules

Provides access to personal health information
Powers of Attorney should be updated

Beneficiary review is a must – and be sure to know what Per Stirpes and Per Capita mean
Spousal rollovers may be a better option for spouses who inherit after age 59 ½

Update online accounts

financial websites
email accounts
social media accounts
storage accounts such as those for documents, music or photos

Same-Sex Married Couples Essential Tax and Estate Planning

When you are ready to confirm you’re all set – consider giving us a call. Our team will help you and your spouse.

Call our toll-free line and mention this posting – 866-589-9366.