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June 26 is the day last year that the Supreme Court declared same-sex marriage legal in the U.S. Bankrate’s article, “Same-sex marriage tax and estate planning tips,” says the IRS had been accepting since the Supreme Court struck down the Defense of Marriage Act in 2013. marriages. Reference: Bankrate (June 23, 2016) “Same-sex marriage tax and estate planning tips” #AssetProtection

The ruling lets same-sex couples file jointly for tax purposes and changes estate planning because now many requirements of opposite-sex couples are placed upon same-sex couples. Planning Tips LGBT Families Need to Follow in 2016,” has a handful of tips for starting a life with a same-sex It’s not too romantic to ask your partner after saying “yes” to a marriage proposal to sign a prenuptial If you’re married, don’t just assume that your spouse is automatically granted power of attorney over

Marriage is about compromise, which usually means coming to an agreement about where to live, whether Unfortunately, some couples find themselves in complete disagreement about planning for the future. Together Coming to a place of mutual understanding about your finances can help get couples on the same Take a thorough look into your debts, your savings, property that is owned, investment accounts, insurance Estate Planning and Elder Law Professional If you and your spouse are still struggling to get on the same

They may also face legal issues related to marriage, adoption, and inheritance rights. Legal Challenges Finally, LGBTQ+ seniors may face legal challenges related to marriage, adoption, and In many states, same-sex marriage was not legalized until recently, meaning many LGBTQ+ seniors may not have the same legal protections as their non-LGBTQ+ peers. law attorneys can help LGBTQ+ seniors ensure that their legal documentation is in order, including marriage

makes sense that Houston prenuptial lawyers see a lot of clients who are heading into their second marriages Other Reasons to Consider a Prenup in a Second Marriage Not only is a divorced person more aware of the financial headache that comes along with ending a marriage, they are also more in tune with the fact By being on the same page regarding these topics at the onset of the marriage, it is possible to get Second marriages often result in blended families, too.

What Is Common Law Marriage? Requirements of a Common Law Marriage A common law marriage is a union that has been recognized by the marriage after your spouse passes away. The Role of Witnesses in Proving a Common Law Marriage When it comes to proving a common law marriage How a Lawyer Can Help You Prove Your Common Law Marriage When trying to prove a common law marriage,

In addition, there are some important “first time” decisions to be made, like naming a guardian. Once decided, the name(s) should be included in estate planning documents. Sometimes this is the primary reason married couples write their first will. In the same light, a guardian’s situation may change, and you may need to name someone else. In most states, only by naming a guardian in your will can you let your wishes be known.

Marriage is a blending of two lives, and while this is true on both a spiritual and physical level, it Estate Planning One of the biggest long-term legal considerations is how your marriage will affect your planning while they are still young, but this is an incredible way to set and reach goals for your marriage If this is not your first marriage, you will especially want to make sure you update any previous estate Along those same lines, it is a good idea to create a living will with your spouse so he or she is aware

That said, Medicaid will have an automatic lien on any interest in a residence in your name equal to Similarly, gifts and sales that are less than fair market value within five years of applying for Medicaid

Putting your house in a trust may be the game-changer you are looking for. with the headache of the probate court or other legal obstacles, putting your house in a trust can save This is just one of many tax-saving strategies that can help you reduce the estate taxes owed upon your your assets from creditors and lawsuits can save you from financial ruin. Some people also choose to put their vacation home or other assets in a trust.

approved by the IRS and may be more advantageous than designating individual children or grandchildren—or naming If you name your revocable living trust as a beneficiary, you must be certain that it has the appropriate Remember that if you go ahead and designate individuals as beneficiaries, you may create some headaches after the death of the primary beneficiary and—if the beneficiary is not the spouse—the IRA being fair game accumulation trust is better if you require additional protection for the beneficiary who’s in a bad marriage

Think Twice About Marriage in Your Golden Years.” A late marriage can mess up your previous plans for your estate, personal finances, as well as any advance Elder law attorneys advise that those thinking about marriage later in life, at the time when personal If you understand the applicable property rights before the marriage, it’ll let you modify your wills The laws concerning marriage typically aim to protect the rights and interests of both spouses.