By - Stouffer Legal
With legislation passing in June 2015 recognizing same-sex marriage in the United States, many LGBT couples wonder how this impacts estate planning and the types of benefits for which they now qualify.
LGBT married couples qualify for the following benefits:
- Tax Benefits: LGBT married couples may file joint income tax returns which in many cases results in favorable tax advantages.
- Medicare: Legally married LGBT seniors qualify for Medicare benefits and joint placement in nursing home facilities.
- Social Security: LGBT married couples qualify for many social security benefits, including spousal survivor benefits and spousal retirement benefits.
- Estate and Gift Tax Exemptions and Portability: Married couples can combine their assets under these exemptions.
Proper planning for LGBT couples, whether married or otherwise, is essential. Call (443) 470-3599 today and schedule a consultation with one of our experienced Maryland Estate Planning Attorneys to learn more about Estate or Elder Law and how we can help you.
