David Helverson, CRPC, is a Financial Advisor who holds the Accredited Domestic Partnership AdvisorSM Designation with Wells Fargo Advisors, LLC, in Chicago. He addresses the financial challenges that same-gender partners face. Reach David at david.helverson@wfadvisors.com and https://home.wellsfargoadvisors.com/david.a.helverson1.
According to the latest information from FreedomtoMarry.org, same-gender couples now have the freedom to marry in 32 states plus Washington, D.C. Moreover, recent federal appellate- and lower-court rulings in a number of additional states favor the freedom to marry. At the time of this writing, nearly 59 percent of the U.S. population lives in a state that is currently issuing marriage licenses with a strong likelihood that the percentage could increase.
Whether you are in a same-gender couple or an opposite-gender couple, for many newlyweds, year-end tax planning and preparation may be significantly different than in years past. In this article, we’ll examine some of the ways that marital status can impact your taxes and investment plans.
