Submitted by GWinters on Sun, 10/25/2009 - 08:16
Given that Massachusetts now recognizes marriage between gay and lesbian couples, are we pretty much on equal footing with heterosexual couples or are there still issues surrounding our estate planning that we should be aware of? If there are issues that we should know about, can you spell them out? Thank you.
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Editor's Response
Speaking strictly of Massachusetts law and estate planning, yes, the law should apply to gay and lesbian couples in much the same way that it applies to heterosexual couples. However, there are still some tricky issues lurking out there. For example, federal law does not recognize same-sex marriage, and that fact can create issues around estate and gift tax, two crucial estate planning issues, especially when trusts are contemplated. Without knowing your planning goals or the size of the estate(s), I really cannot give you any other examples of issues to watch for. Fortunately, there are many estate planning attorneys in MA who have a good deal of experience with estate planning for gay and lesbian couples. I recommend that find a MA lawyer with appropriate experience and ask him or her to explain your options and best strategies. Good luck.