Planning for the LGBTQ family
Explores the consequences of marriage, planning ideas for unmarried LGBTQ couples and family planning.
Ever since the United States Supreme Court ruled in favor of same-sex marriage in Obergefell v. Hodges, many same-sex couples have headed towards the altar.1 In fact, the Williams Institute estimates that the number of same-sex couples who marry has nearly doubled since the 2015 ruling.2 Despite the rapid rise of same-sex marriage in recent years, not every same-sex couple is rushing down the aisle; indeed, only a little more than half of the approximately 1 million LGBTQ3 couples cohabitating in the US are married, compared to nearly 90% of their heterosexual counterparts. What’s more, of those cohabitating LGBTQ couples in the US, about a fifth of them are raising nearly 200,000 children, many of whom were adopted or conceived using assisted reproductive technology (ART), such as in-vitro fertilization. As discussed in the first section below, there are many benefits afforded to those couples who may now marry, and some drawbacks, too. For those couples who choose to remain unmarried, navigating the legal and economic landscape will be a necessary part of any such couple’s family planning to ensure that each partner’s wishes with respect to their healthcare decisions and estate plan, among other things, are respected. And for those LGBTQ couples who have or want to have children, the landscape becomes even more complex. The potential issues that arise from being unmarried or from having children are each discussed below, as well.
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Purpose of this material.
The information on this page and in the attached document is provided for informational and educational purposes only. It should be used solely for the purposes of discussion with your UBS Financial Advisor and your independent consideration. UBS does not intend this to be fiduciary or best interest investment advice or a recommendation that you take a particular course of action.
No tax or legal advice.
UBS Financial Services Inc., its affiliates and its employees do not provide tax or legal advice. You should consult with your personal tax and/or legal advisors regarding your particular situation.
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