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The final regulations now define those terms as anyone lawfully married to another, and "husband and wife" as any 2 persons lawfully married to each other, regardless of their gender. Visit our Tax Center. Living wills, health care proxies, and disposition of remains documents: Who can actually afford to attend this huge musical festival every year? Skip to Main Content. Please Click Here to go to Viewpoints signup page. Gay Financial Planner — Right for You?

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Legally married spouses may also take advantage of "gift splitting," which allows a married couple to split the total value of a gift to a third party and have it treated as though each spouse contributed one-half of the amount to the recipient.

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Roxane Gay on Financial Independence: 'The Most Important Thing a Woman Can Do for Herself'

Lastly, consider establishing a durable power of attorney POA for finances that can let a spouse become an "agent" to make financial decisions and pay bills in a worst-case scenario. Like everyone else, we are currently …. Gay Financial Planner — Right for You? When both members of a couple earn a high income, they are especially at risk for higher taxes when they file jointly. Get a weekly subscription of our experts' current thinking on the financial markets, investing trends, and personal finance. It's a good idea to review beneficiary designations every so often to make sure they are up to date. And when one spouse dies, the survivor can claim the greater of the 2 spouses' benefits.

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And what do …. To determine which investment s may be appropriate for you, consult your financial advisor prior to investing. Similar rules govern federal income tax credits for child and dependent care and adoption. Will the Fiduciary rule help or pick the pockets or …. Email address can not exceed characters. This information is intended to be educational and is not tailored to the investment needs of any specific investor.

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