Insights & News

March 2012
General

Financial Planning for Same-Sex Couples Who Seek to Wed


Denny Suckstorf, Director of Financial Planning for FAI was interviewed for an article in the Baltimore Sun regarding same-sex marriage. Denny commented on impacts a same-sex couple can face when inheriting a retirement account:

"Also, a same-sex spouse who inherits a traditional individual retirement account from a mate will have to start taking distributions from the account — and paying taxes on the money — within a year after the death, says Denny Suckstorf, a Columbia financial planner.

With straight couples, he says, a spouse can inherit an IRA and postpone taking distributions until after age 70."

Please click HERE to read the full article.


IMPORTANT DISCLOSURE INFORMATION
Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by FAI Wealth Management), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from FAI Wealth Management. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. FAI Wealth Management is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of FAI Wealth Management's current written disclosure statement discussing our advisory services and fees is available for review upon request.

Dennis Suckstorf

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