Advisers adapt to new same-sex marriage guidance

09/3/2013 | InvestmentNews (free registration)

The Treasury Department and the Internal Revenue Service will consider same-sex couples to be married if they wed in a state that recognizes such unions, even if they don't live in one of those states, the agencies said last week. The guidance, which came as a surprise to some, leaves advisers working to help same-sex clients with their taxes and estate planning. "Very few thought that federal tax law would be imposed in states where federal marriage isn't recognized," said Lorraine Johnson, an adviser with Triangle Financial Advisors.

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