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Couples: LGBT, other Non-Traditional, and Traditional

The definition of family now embraces many different configurations, including, but not limited to: step-parents, single parent households, adoptive parents, same sex partners with and without children, foster parents, grandparents or aunts and uncles caring for children, and adult children living with and caring for their parents. Every family has its own financial needs and concerns. Today’s non-traditional families desire peace of mind when it comes to protecting and passing on assets to future generations.

IRS recognizes marriaged based on state of the ceremony 20130916IRS

“When Divorce Unravels Your Retirement Plans” 20111224WSJ
This article discusses changes in lifestyle, health insurance and credit issues that should be anticipated.

“Illinois to let civil-union couples file tax tax returns” 20111129CST
Starting in January, Illinois will allow couples who obtained civil-union licenses this year to file joint state income tax returns

“Marriage, civil union or neither?” 20112026CT
This article discusses some of the pro and cons of marriage, civil unions or neither for heterosexual couples.

“A To-Do List for the Surviving Spouse” 20110829YF
A very good resource.

“Gay Marriages Bring Thorny Tax, Financial Questions” 20110725MW
It is important to identify the legal and tax complexities to to be able to plan for how they should be dealt with.

“Headaches for Same-Sex Couples” 20110709WSJ
This article highlights the income and estate tax complications for same-sex couples.  The Defense of Marriage Act of 1996 doesn’t recognize same-sex marriage, even if it is recognized by the states where they were married.  For now, same-sex couples need to be aware of the differences and see that there financial and legal planning is up to date.

“Same-Sex Couples And The Marriage Penalty” 20110219WSJ
Same-sex couples income tax treatment differs among the states.  This results in different US income tax consequences which vary among the states.

“I Love You, You’re Perfect, Now Sign Here” 20100703WSJ
This article discusses why baby boomers are increasingly turning to prenuptial agreements. The article provides some pointers to preparing the agreements.

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