In a July 9th article published in Bloomberg BNA's Estates, Gifts and Trusts Journal, Buchanan Ingersoll & Rooney’s Megan F. McAteer and Rose K. Wilson uncover some matters that estate planners should be conscious of as a result of the recent Supreme Court ruling requiring all states to recognize same-sex marriages.
With much to celebrate as a result of the ruling, McAteer and Wilson note that legal complications could rise for clients in existing same-sex marriages.
“State law default provisions that protect the interests of surviving spouses may provide a means to frustrate the estate plans of couples who did their planning on the basis that spousal inheritance rights in their state of residence would not apply on the death of the first spouse to die,” they write.
McAteer and Wilson recommend that same-sex married couples who live in former non-recognition states “should review their estate plans in light of the ruling to ensure their goals can still be achieved.”
Read the full article – “Same-Sex Marriage Recognition and Potential Estate Planning Complications” (Bloomberg BNA Estates, Gifts and Trusts Journal, July 9, 2015). Subscription required.
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