This document outlines four key considerations for same-sex couples planning for retirement: 1) Social Security spousal benefits are only available to married couples; 2) retirement account beneficiaries must be explicitly named if not married; 3) an attorney can help draft wills to ensure assets go to an unmarried partner; and 4) estate tax planning is important if not eligible for the marital deduction as an unmarried couple. Proper planning with tools like wills and beneficiary designations can help same-sex couples achieve their intended retirement.
3. To ensure you’re prepared for your golden
years, look into these four key points.
#1
#2
#3
#4
Spousal Social Security Benefits
Retirement Account Beneficiaries
Wills
Estate Taxes
8. My
Beneficiary
My
Beneficiary
If you want to leave your retirement
account savings to your partner
and you’re not married, you’ll need
to name him or her as the
beneficiary.
9. If your employer-sponsored
retirement plan only allows spouses
and children as beneficiaries, you
might consider a more flexible
savings vehicle, such
as an IRA.
IRA
IRA