In a historic 5-4 decision, the U.S. Supreme Court voted to legalize same-sex marriages nationwide. The ruling not only makes it unconstitutional for a state to ban same-sex marriages in their own state, but requires them to acknowledge same-sex marriages from other states as well.
The legal implications of this decision are far-reaching and have a considerable impact on estate planning for married couples. Same-sex partners living anywhere in the United States are now entitled to receive the exact same type of estate planning as heterosexual married couples. Decisions around benefits, medical care, financial planning, children, death, taxes, inheritances and more will no longer require “alternative” estate planning techniques.
While the laws may change, one thing remains the same: All married couples should tackle estate planning. Laws being upheld in accordance with your wishes is often quite different from laws being upheld according to the letter of the law.