Financial Tips for LGBTQ+ Investors
LGBTQ+ couples experience unique economic and health disparities. Here are financial tips to help navigate these unique challenges.
Joint Checking Accounts
If you are part of an unmarried LGBTQ+ couple and you share a joint checking account, take precautions when moving larger dollar amounts. Certain transactions may be considered gifts and could be taxable.
Healthcare Directives
A healthcare directive is one key tool for LGBTQ+ couples, as it allows you to designate your partner as the one responsible for making health decisions on your behalf if you become incapacitated.
Military Members
From pension benefits to health care and housing, same-sex spouses of military members are eligible for a wide range of military benefits.
Estate Strategies
Married or unmarried, LGBTQ+ couples may want to consider some more advanced estate strategies. Certain estate documents can include language specifying who should help your partner after you're gone.
Your CCR financial professional can help you and your partner make long-term care planning, healthcare planning, and other needs unique to the LGBTQ+ community part of your financial planning analysis. Reach out to your CCR professional today to discuss.
Disclosures:
For a comprehensive review of your personal situation, always consult with a tax or legal advisor. Neither Cetera Advisors LLC nor any of its representatives may give legal or tax advice.
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