Every person’s situation is unique, and we recognize the need for a customized approach with everyone we work with. We help focus on four areas that may have additional frustrations and obstacles for same sex couples:
- Financial Planning
- LGBTQ+ couples are at higher risk of facing a retirement shortfall.
- Family planning may require a large portion of savings, whether a couple is adopting, fostering, using a surrogate, or doing fertility treatments.
- A financial plan may help counteract the wage gap that exists for same sex couples, especially for women who already earn less than their male counterparts.
- Healthcare costs and end-of-life choices are an important piece of a financial plan.
- Estate Planning
- With a good estate plan, you get to choose what happens to the things that matter most to you.
- Without a will, 1/3 to 1/2 of your estate may go to relatives instead of your spouse depending on state law.
- How long has it been since you reviewed your beneficiaries? Keeping those up to date can make a difference during a difficult time.
- Do your estate planning documents include language consistent with current laws (wife/husband/spouse), including a power of attorney for financial and medical reasons?
- If you have not reviewed documents since 2015, now is the time.
- How to handle investments and insurance when a spouse passes away?
- Insurance Planning
- If you never had children, you are at greater risk of aging alone. Have you considered long-term care insurance to help when you need it most?
- Would you prefer at-home care or an assisted living facility?
- What happens to your family if something unexpected happens to you?
- Social Security
- What are your social security options?
- What are your survivor benefits?
- Under what circumstances do I need to contact the Social Security Administration?
- How do I estimate benefits based on retirement age?
Call us and let's talk about your specific situation and how we can help make the most of your financial future.