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Paul Solman Paul Solman. The following text has been edited and condensed for clarity and length. So there will be weddings, there will be honeymoons, there will be planning. It will be a boost for the economy. Are you married? Are you getting married? You will need to talk to your ants about your tax planning and possibly amend past tax returns. You will need to speak to your lawyer about what your estate planning documents look like and what you want them to look like. Janis Cowhey: Many companies right now offer domestic partner benefits. Will those continue? A lot of companies that offered domestic partner benefits for same-sex couples are now taking the position that because you now have the right to get married, you need to get married to get these benefits.

Check with your company to understand what they allow. Janis Cowhey: From a tax perspective, the main thing same-sex couples will see is a simplification of their tax compliance. No longer will they need to worry about filing differently at the federal level as opposed to the state level, or filing as married at the federal level and single at the state level. And it was very inefficient and expensive to do your tax returns. You need to do your due diligence. Not every employer has kept up with that.

When looking at deductions, you now get to look at the family as a whole as opposed to who paid the real-estate bill or who paid the mortgage interest. It should no longer be under any circumstances. Janis Cowhey: Even though the federal government said two years ago in United States v. Windsor that same-sex couples are recognized at the federal level, there were still some agencies — Social Security is one of them — that, administratively, their guidelines could not recognize some same-sex couples. It was based on where you lived. Before, we had to plan, and you had to make sure you applied for Social Security while you lived in a state that recognized your marriage.

If your spouse has passed away and you would bring home more on a monthly basis on their record than on yours, you can now do that. Janis Cowhey: One important thing for same-sex couples is to carry their documents on a flash drive. Support Provided By: Learn more. Thursday, Aug 5. The Latest. World Agents for Change. Health Long-Term Care. For Teachers. About Feedback Funders Support Jobs. Close Menu. Address Subscribe. What do you think? Leave a respectful comment. Close Comment Window. Yes Not now. By — Paul Solman Paul Solman.

Leave a comment. Share on Facebook Share on Twitter. Paul Solman: What will happen to employer benefits? Paul Solman: How will taxes change for newly married gay couples? What will happen there? Paul Solman: Is there anything else you would advise same-sex couples to do?

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