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Members of the public to locate CFP® professionals and obtain information about them, and It does not include all CFP® professionals – only those who choose to be included.įind a CFP® Professional may be used only by These terms and conditions govern your use of the Find a CFP® Professional Search feature on Certified Financial Planner Board of Standards, Inc.’s (“CFP Board”) Let’s Make a Plan website (Before using Find a CFP® Professional, you must read and agree toĬFP Board publishes the Find a CFP® Professional as a reference source about CFP® professionals in the United States. Terms and Conditions for the CFP Board Find a CFP® Professional Search WCG Wealth Advisors, LLC, The Wealth Consulting Group, and Family Wealth Management Group are separate entities from LPL Financial. Advisory Services offered through WCG Wealth Advisors, LLC, a registered investment advisor. Securities offered through LPL Financial, Member FINRA/SIPC. Contact a CFP® professional today to share your story and begin discussions about financial planning strategies for you both. Consider beginning financial planning as a couple. To express your love and commitment, consider a different type of gift from the heart. LGBTQ+ couples considering fertility treatments may to need to address cost concerns and access to appropriate healthcare. Couples might have concerns about unconscious biases that birth parents working with adoption programs might have. For many LGBTQ+ couples, conversations about starting families involve considerations such as domestic or international adoption programs, as well as the programs’ histories of working with LGBTQ+ couples, costs, and wait times. A domestic partnership agreement that incorporates financial planning strategies might be helpful. If you decide not to marry, you should consider strategies that seek to protect your assets and your partner. Tying the knot…or not? Marriage might have long-term financial benefits for LGBTQ+ couples, including social security, healthcare coverage and federal protection of assets such as real estate.
For example, for married couples, a spouse with eligible compensation can consider making a tax-deductible IRA contribution on behalf of their nonworking spouse. Couples can work together to fund their retirement in ways they might not have considered. The good news is that there are strategies for these situations. LGBTQ+ couples’ ability to save and plan for retirement can be affected by career opportunities and unexpected changes in employment. You will need living wills, health care proxies and medical powers of attorney. Take the time together to decide how you would like your medical wishes carried out. As difficult as this is to think about, it’s important for LGBTQ+ couples to consider situations when articulating medical wishes might not be possible, such as hospitalization scenarios. You will likely want to adjust these arrangements as a couple. A key component of the evaluation should be an estate analysis, which an in-depth review of your current arrangements. One of the first steps to take in the estate planning process is an initial needs evaluation. Estate planning is so important for LGBTQ+ couples, particularly if considerable assets are involved, such as multiple retirement accounts or real estate. Here are a few strategies that CFP® professionals can help you consider while confidently focusing on your future together.Įxploring estate planning. CFP Board provides resources to help LGBTQ+ people with financial plans in their best interests as well. For example, not all states have robust anti-discrimination laws, which are important for access to healthcare, earnings opportunities and retirement savings at a minimum – all of which are critical for financial planning.ĬFP® professionals are up to date on these challenges and can help LGBTQ+ couples with strategies for their specific situations. Although there has been progress with equality on a national level, more work is needed at the state level. LGBTQ+ couples need to be on the same page with financial planning.įinancial planning strategies can be complex for LGBTQ+ couples to begin, where you live matters. It’s easy to get swept off your feet by that special someone – perhaps especially on Valentine’s Day, when you’re surprised by thoughtful gifts from the heart such as a homemade dinner or your favorite flowers.īut if you’re coupling up for the long haul, CERTIFIED FINANCIAL PLANNER™ professionals know that it’s important to have your feet on the ground regarding your dreams, goals and priorities.
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