Whenever there is a talk of same gender marriages and relationships, there is a lot of uncanny interest and unnecessary curiosity generated around the subject. Even more so, when it is something related to their financial concerns. Irrespective of whether an individual is gay or straight, the ‘money matters’ call for careful investment and planning. Gay money and Gay legal advice is not something to build so much of hype around. Instead it should be dealt sensibly, with sensitivity. Special gay legal advice processes have been formulated for couple in same sex marriage so that their interests are equally taken care of, just like other straight couple. Exclusively referred to as LGBT (Lesbian, Gay, Bisexual and Trans-Sexual) this category stand to gain big time with the new federal recognition. A few concerns that are often considered when discussing LGBT issues are discussed in the FAQ here.
How important is Gay money and gay legal advice?
Both gay money and gay legal advice has attained a new-found significance after the federal recognition of gay marriages. And hence, new opportunities have opened up for people in same- sex marriages to take care of their financial planning issues. With gay marriages becoming universally accepted, gay legal advice can drastically change the way same sex couple work, accumulate wealth, the way they retire, pay their taxes or plan their bequests.
How are the legal and monetary requirements of same-sex couples and straight couple different? So far, all the legal issues of marriage and partnership dealt only with normal couple with kids. Now with the same-sex marriage aspect coming up, it would be applied to them too.
Are there financial planners available to deal with gay money and gay legal advice? Yes. Financial planners and advisers dealing with straight marriage related legal issues can very well handle the gay legal issues too as there is not much of a difference. There are plenty of financial advisors who have specialised in dealing with gay legal advisory issues and handled several cases with history of success.
How to locate an LGBT friendly financial planner/adviser who is reliable?
Locating a good financial adviser, who can understand the gay client’s situation and offer functional solutions, is not a tough deal. There are many firms offering comprehensive legal advice services and are also LGBT-friendly and experts in their jobs. Availing their services too is not a big deal as they can be directly accessed via the company they work with. Some firms also offer area specific, LGBT friendly legal and financial services to their same sex clients. The only thing to make sure is that the adviser actively promotes LGBT issues and has signed LGBT-inclusive equality and diversity statement.
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