Thursday, June 30, 2022
Since the landmark Supreme Court decision, Obergefell v. Hodges in 2015, some couples who made their partnerships work for years without marriage may still be deciding whether or not it is financially sensible to marry now.
Annamarie Vitelli of PNC Private Bank Hawthorn, says couples should consider the costs and benefits of marriage, which include taxes, property protection, health care, and other direct benefits. “Once you are married, a whole array of benefits are open to you that may not be available even if you had a domestic partnership.”
There are many benefits that marriage offers that a domestic partnership doesn’t provide. Vitelli recommends planning ahead and working with professionals to choose the best plans and urges couples to consider a prenuptial agreement to protect individual wealth.
For more Information:
See Abby Schultz “Future Returns: Financial Reasons for Same-Sex Couples to Marry,” Barrons, June 21, 2022.
Special thanks to Joel C. Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.