Planning for Same Sex Couples
The landscape of same sex marriages is an ever changing arena. After a long fought battle, New York State recently enacted legislation legalizing gay marriage. Accordingly, there are vast benefits that can now be tapped into in the realm of elder law and estate planning for same sex couples.
Same sex couples can currently be afforded most of the same estate tax savings treatment available to heterosexual married couples through the creation of living and testamentary trusts. Further, in the realm of Medicaid planning, spousal refusals and other techniques involving the community spouse can now be utilized.