The recent U.S. Supreme Court decision in Obergefell v Hodges legalizing same sex marriage throughout the country will have profound ramifications for financial planning. It will, among many things, introduce several changes to estate planning laws that will affect same-sex couples. Understanding these changes will help you to prepare for the future and protect your interests.
Obergefell reconciled a great legal and political tension in the country regarding the status of same sex partnerships. Prior to the ruling, same sex couples could get married in some states but not others, and this arrangement created a complex patchwork that made estate planning (among other tasks) quite challenging for same sex couples and restricted their rights in many states. Obergefell clarified the situation and in many senses vastly simplified the planning landscape while hearteningly expanding rights. However, this “jolt” to the system has several implications with regard to estate planning issues for same-sex couples, including:
In light of these changes, same-sex couples who choose to marry should consider altering their estate plans in order to take advantage of their new rights. Please consider calling Gudorf Law Group at 1- 937-898-5583 to understand and explore your options.