Important Money Issues to Consider for Same-Sex Couples

June 27, 2013

With the Supreme Court’s rejection of the Defense of Marriage Act (DOMA), same-sex married couples now have the same rights to federal benefits as heterosexual married couples. This means that same-sex married couples can now make plans to reduce estate tax liability. But this also means that same-sex couples have some issues to consider before they get married.

One of these issues involves debt. An unmarried person would not be liable for the debts of another person, but once you are married, a same-sex spouse could be liable for the debts of the other spouse. If this is a major concern, the couple should think about getting a prenuptial agreement that keeps those debts out of community property.

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