Services

Same-Sex Financial Planning

As an Accredited Domestic Partnership Advisor(sm), Woody understands the pros and cons of same-sex marriage. To us, same-sex financial planning means getting to know our clients as well as understanding the financial issues they may face. For example, our experience as a gay-friendly financial advisor has shown us that estate planning for same-sex couples can be more complex as LGBT couples often do not have children.

We have found that many of our clients have relationships dating back 10, 20, or more years. They often kept much of their financial picture separate because they didn’t have the legal framework of divorce to protect them. The federal and state governments also had roadblocks in the form of income tax, estate tax, and legal issues that a traditional married couple wouldn’t face.

Suddenly, and thankfully, many of those obstacles are now gone, and those same couples want the same government, family, and legal recognition of their relationship that traditional married couples have always enjoyed. We’re seeing a lot of same-sex couples rushing out to get married only to later realize the changes to their finances. Some of those changes haven’t been as positive as they may have anticipated.

At Partnership Wealth Management, it’s our job to help our clients understand and work through the financial challenges of same-sex marriage. We want the transition to married life to be a happy one, and one that has a minimal impact on our clients’ long-term goals.