The U.S. Supreme Court’s decision in Obergefell v. Hodges imposed two obligations on states regarding same-sex couples: to issue marriage licenses and to also honor any marriage licenses issued by other states. Legalizing same-sex marriage has made family planning easier for many same-sex couples in regards to shared property, parenting decisions and other matters. However, a recent article serves as an important reminder of updating individual assets to reflect the new marital opportunity.
Specifically, the Internal Revenue Service recently issued guidance on the tax treatment of qualified retirement plans to same-sex spouses. However, the exact language of the IRS Notice is complex. The issue of whether a qualified retirement plan is obligated to provide new benefits may require the experience of an attorney that focuses on family law, including the tax aspects of marriage and divorce.
Our law firm has helped same-sex couples with a variety of family law issues for many years. That experience means that we understand the issues facing both unmarried and married same-sex couples. Clients have come to us with issues ranging from adoption, child custody, guardianship, agreements regarding artificial insemination and other treatments, and divorce and alimony.
Maryland same-sex couples that previously entered into a domestic partnership may also benefit from the experience of a family law attorney. The transition into married life can present practical tax questions, but our 17 years of experience will help navigate those problems with greater ease. Whether your union is beginning or ending, our family law attorneys can help you.
Source: Accounting Today, ” IRS Applies Obergefell Decision to Retirement Plans,” Michael Cohn, Dec. 11, 2015