In light of all of the changes in same-sex marriage laws happening over the past couple of weeks, we thought we’d share some of the information presented by our attorneys at the CLE presentation in our St. Louis office on Wednesday morning, “Same Sex, Different Day: Estate Planning for Same Sex Married Couples (Post Windsor decision), co-sponsored by the Bryan Cave LGBT Affinity Group. Presenters were Kimberly Civins, Stephen Daiker, and Douglas Stanley, along with Tony Rothert from the ACLU of Eastern Missouri.
Get income tax advice regarding amending returns and filing returns going forward
The sooner the better, as there is a 3 year statute of limitations for amending returns if filing as married achieves a better tax result!
Get estate documents reviewed/updated to take advantage of spousal tax reduction opportunities
Double-check beneficiary designations for retirement plans
Remember–spouses have to consent on some retirement plans to someone else being named as beneficiary!
Review any marital or co-habitation agreements regarding income tax benefits affecting property rights