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Tuesday, November 7, 2017

Estate Planning Tips for same-sex couples


In the United States v. Windsor, the Supreme Court rules that federal government must recognize same-sex marriages legally performed in a state for federal law purposes. Below are some tips in an estate planning concept:

  1. Boomerang assets.

Lots of same-sex couples do not have children. While the couple may want to provide for each other, after the death of the second-to-die spouse, they each may have different dispositive wishes.
Read more . . .


Tuesday, January 10, 2017

Can you adopt an adult in New York?


Sometimes adults get adopted. Even though most adults no longer need a parent to make legal and financial decisions for them, adult adoptions still happen for other reasons.

The main reason for adult adoption is usually inheritance. If a person is not related to you biologically or legally, if there is no Will, then the person will not inherit your money. Of course, this issue can often be easily resolved by writing a Will and naming that specific person in the Will.


Read more . . .


Monday, October 24, 2016

Protecting Your Estate Starts with a Prenuptial (or a Postnuptial) Agreement


The rate of second and third marriages in the United States continues to increase. Each spouse may bring children, assets, heirlooms, and very specific wishes into the new marriage. Some want their children to inherit the bulk of the assets. Others want specific heirlooms (painting / jewelry / watch) to be passed down to specific people. Relationships within the extended family can deteriorate very fast.

Read more . . .


Tuesday, January 20, 2015

Supreme Court to Decide Whether States Can Prohibit Same-Sex Marriage

On Friday, the Supreme Court agreed to decide whether any of our 50 states can prohibit same-sex marriage. Currently, the number of states allowing same-sex marriage is 36 and the District of Columbia, and more than 70% of Americans now live in states where gay couples can marry.

A 2012 case United States v. Windsor struck down a part of the Defense of Marriage Act which barred federal benefits for same-sex couples. This decision was later used by lower courts to rule in favor of same-sex marriage, and recently the Fourth, Seventh and Tenth circuits have struck down same-sex marriage bans in many states.

In November 2014, a Sixth Circuit court upheld bans on same-sex marriage in four states (Michigan, Ohio, Kentucky and Tennessee). By upholding a marriage ban, the Sixth Circuit created a split among the federal appeals courts. A circuit split usually dramatically increases the chances of the Supreme Court review of the issue.

The Supreme Court agreed to hear petitions from plaintiffs challenging the marriage bans in these four states. The two issues in front of the Court are whether the Constitution requires states “to license a marriage between two people of the same sex” and whether states must “recognize a marriage between two people of the same sex when their marriage was lawfully licensed and performed out of state”. A final ruling on these two issues is expected in June.

Both proponents and opponents of same sex marriage were happy that the issue is in front of the Supreme Court. Proponents of same sex marriage want to end the legal bans against same sex couples. Opponents want to uphold the states’ right to decide the issue, including the right to define marriage as the union of a man and a woman.

http://www.scotusblog.com/2015/01/court-will-rule-on-same-sex-marriage/


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