Kyle Young, First Vice President Investment Officer and Accredited Domestic Partnership Advisor , Wells Fargo Advisors, LLC in Short Hills, N.J., addresses the unique financial challenges faced by same-gender partners.
Last year was a time of great change for many lesbian, gay, bisexual and transgendered couples. For the first time in history, the ability to marry became a real option, opening the door to a number of new financial- and estate-planning opportunities. Along with my colleagues, we were asked to assist in advising the readers of Fair360, formerly DiversityInc through the U.S. Supreme Court cases in 2013 and to provide our thoughts on how those cases financially impacted LGBT couples who decided to marry. Based on the success of those articles, we have again been asked to continue this dialogue into the new year.
As more and more LGBT couples take advantage of this newfound ability to marry, it will quickly become clear that many new financial-, tax- and estate-planning opportunities now exist.
