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How planning for LGBT retirement differs
By UBS Wealth Management
The U.S. Supreme Court’s landmark decision on same-sex marriage in 2015 made marriage equality the law of the land, giving same-sex partners spousal inheritance rights, survivor social security, tax credits, second-parent adoption rights and other benefits accrued to married couples.
Yet as momentous as that decision was, “the right to get married doesn’t fix all the other problems out there,” says David Mietty, Wealth Management Consultant at UBS. He notes, individuals may still encounter workplace and housing discrimination on the basis of sexual orientation and gender identity. And partly because of this, LGBT Americans can face unique challenges when it comes to financial issues such as retirement, long-term care and inheritance. Your financial advisor can walk you through some of these issues to help you prepare and plan for them.
Source UBS
