Social Security and Ruling on Same Sex Marriages
Last Friday, the United States Supreme Court declared state bans on same-sex marriage unconstitutional, thereby allowing same-sex couples to marry anywhere in the country.
With marriage comes more than a couple of rings and a piece of paper, however. There are many more implications for married couples, now regardless of sexual orientation. Perhaps most importantly, marriage usually means huge financial changes for couples. For example, married couples can file taxes jointly, they can claim certain Social Security benefits (such as survivor benefits), and they have an easier time transferring property.
For newly married or soon-to-be-married same-sex couples, it’s important to do your homework regarding taxes, insurance, and Social Security benefits among others, just as a straight couple should do as well. Not being informed and proactive—particularly in the case of couples close to retirement—could mean leaving thousands of dollars on the table that could have otherwise been rightfully claimed. See this article for more information on this topic.
If you have questions about Social Security benefits and how they relate to any marriage, contact The Brad Hendricks Law Firm.