Insights & News

March 2012

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.

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Dennis Suckstorf

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