Gay marriage in Connecticut: Hazardous to your wealth?

You are gay. You live in Connecticut. Want to marry.

The question arises, you will be treated financially in the same way as heterosexual couples? The answer is Yes and no.

The Connecticut Supreme Court recognizes gay marriages in 2008 and the legislature codified it. Essentially this outweighed the legislation on marriage and divorce of gender and orientation.

But the word "generally" is, where is the rub. Because the Federal Government and some States do not recognize same-sex marriages, these couples face challenges that affect transfer of wealth from marriage, divorce or death. More than 1,000 federal laws include marital status, often with negative consequences.

For example, at the federal level, the defense of Marriage Act (DOMA). Same sex couples from:

• Filing joint tax returns;
• Obtain Social Security Survivor benefits;
• Use of malzenska transfer the exemptions for estate planning purposes.

Consider the example of a pair of gay men in Massachusetts, which was jointly by sixty years married officially in 2004, shortly after it became legal in Massachusetts. When one of the spouses died in 2008, the surviving spouse was blocked from receiving social security benefits, pensions because of marriage, although recognized in accordance with the laws of the State was not recognized under the DOMA. While the monthly benefit amounted to only $ 700 per month multiplied by the rest of the surviving spouses ' lifetime, which could easily be worth 100,000 dollars.

And there are other complications. The event, getting married in Connecticut do not necessarily confer jurisdiction to be divorced in Connecticut. If the same couple sex travels to Connecticut, to marry the country of origin that does not recognize gay marriage-will not be able to get divorced in their country of origin. Non-recognition of rights in the country of origin means that you will not be able to take advantage of the laws of that State when you divide a divorce their financial assets, even if those policies are favourable.

Obama administration last decision does not defend DOMA in court will be little impact current gay couples. However, while these challenging DOMA in court-the process of costly and lengthy-it may face opposition from the Obama administration lawyers, may suffer from the adverse effects on the level of the State. In addition, several federal agencies still need to follow and enforce the DOMA until it is overturned or repealed. Finally, the Obama administration decision does not affect the law in countries where gay marriage is not recognized.

Fortunately, most unfavorable aspects of the non-recognition may be overcome through well-designed, pre-nuptial contract. For example, the same couple sex be divorce, agree to submit themselves in the courts of Connecticut (and require physical movement, if necessary) when they moved To non-recognition of becoming married.

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