Investing
Zoe Team
9 min read
LGBTQ+ couples face unique legal and financial planning considerations that require specialized, proactive strategies.
Ensuring proper estate planning and beneficiary designations is critical for protecting assets and ensuring legal recognition.
Consulting with financial advisors experienced in LGBTQ+ issues helps navigate the complexities of tax, legal, and retirement goals.
Unique legal hurdles, varying state recognition of rights, and specialized estate planning needs often require tailored strategies compared to traditional couples.
Ensuring robust estate planning, such as wills, trusts, and clear beneficiary designations, is essential to protect assets and ensure your partner is legally recognized.
Yes, working with an advisor familiar with LGBTQ+ legal and tax nuances ensures your financial roadmap accounts for specific protections and long-term security.
LGBTQ financial planning has unique considerations that require careful thought and planning. These are legal, healthcare, family, and estate planning challenges that should not be overlooked.
According to a recent study, 62% of LGBTQ+ respondents said their gender identity or sexual orientation caused them to experience financial challenges. LGBTQ+ financial planning has numerous unique considerations that require careful thought and planning. There are misconceptions about what LGBTQ+ individuals need regarding financial planning and critical legal and estate planning elements that must be considered.
There is a misconception that marriage and kids are traditionally for a heterosexual relationship. Meaning LGBTQ+ individuals don’t need to spend money or plan for kids, and additionally keep their money independent from their partner’s… so the “family money” nonsense isn’t a thing. This is far from the truth.
In efforts to break these misconceptions, there are wealth planners with personalized expertise helping LGBTQ+ families with their financial planning. Many of which involve expenses for their growing family. Whether they will do IVF, co-IVF, or adoption, there are many options, and the common denominator among them is that all options are expensive! Healthcare plans generally do not address or have comprehensive same-sex family planning benefits included. Meaning, most, if not all, of the cost is out of pocket.
Just because same-sex marriage is legal doesn’t mean there aren’t unique planning considerations for LGBTQ+ families. There are legal considerations, healthcare considerations, family planning, and estate planning. Not to mention it’s still not easy to navigate society.
A significant consideration is planning for a family and the expenses associated with it. Regardless of how you plan on having a child with your partner, you will most likely incur an additional cost that needs to be accounted for. Not to mention all of the healthcare considerations not covered by healthcare plans. A separate savings account or an emergency fund will significantly help if you ever encounter an unexpected health cost.
The law allows same-sex individuals to get married, and there are legal advantages to it, but there is still a lot of planning that shouldn’t be overlooked. So the question is, “How do you know what stage to plan for?” A financial advisor can help navigate every financial planning stage if you’re in a same-sex marriage or soon-to-be!
An essential part of a wealth planner’s job is asking lots of questions. While financial planning, in general, is deeply personal, in this space, it can be intensely personal. And if they don’t acknowledge and educate themselves on the complexities and unique factors of the widely diverse LGBTQ+ community, they might be doing you a disservice.
To anyone in the LGBTQ+ community seeking financial advice, feel empowered to ask your current or potential advisor if they have experience working in this space. And for those advisors seeking to be a better ally to serve the community, there are many resources to help deepen your understanding of LGBTQ+ history, the crucial factors to consider with planning, the additional questions to ask your clients, and more.
Most people who invest do it for the returns. At the end of the day, everyone wants to grow their wealth. But one recurring and trending investment question is whether or not an investment plan set in place is aligned with your values. And this is a prevalent question for LGBTQ+ community investors, and it comes up very often in the financial planning conversation. Ultimately, we want to bet on investments and companies that are ethical and transparent behind the scenes.
If you’re doing your own research for your investment selection, look into more than the financials. For example, consider the Human Rights Campaign Foundation and its Corporate Equality Index (CEI) report of companies’ performance contributing to LGBTQ+ equality in the workplace.
Throughout your research, you’ll be able to evaluate a company based on more than its potential growth and ensure it’s aligned with your preferences and values.
The best way to ensure your investments are aligned with your values is by working with LGBTQ financial advisors who have expertise in your specific financial situation and can guide you accordingly.
If you’ve lost a loved one and played a role in settling their affairs, you’re likely aware of the importance of having a proper estate plan in place. The lack of proper planning can cause a huge headache for loved ones left to navigate the disposition of assets and, likely, the probate court system.
While planning for an unfortunate event is never ideal, unmarried couples in serious relationships should always prepare for the unknown. Same-sex marriage is legal and has leveled the playing field in more than one area; it’s not a 100% safeguard when estate planning. Ever wondered what would happen in a custody battle over children who may not be the biological offspring of the surviving parent? Exactly.
There are three crucial estate planning areas that LGBTQ+ community members should hone down on.
If one partner in an unmarried, serious relationship passes away without a will, the deceased’s assets will go directly to their family, which may leave the other partner with nothing. Without a will, your state essentially creates a will for you upon your passing through a process called intestacy. State intestacy laws rarely include domestic partners, meaning your assets may go to people you do not intend to receive.
Besides being simple to set up, a will doesn’t have to be too specific and allows you to name a guardian for your children. However, wills can be contested in court by anyone who thinks they have a legal right to your assets. Therefore, you should also consider establishing a trust to eliminate almost all concerns about probate or a contestation from hostile family members. While more expensive than a will, a trust has many advantages, including (but not limited to):
Avoiding probate – Because probate is a public process, establishing a trust will keep your estate private. In addition, a trust eliminates the potentially expensive probate costs and can expedite the distribution of assets to beneficiaries.
Flexibility – A will only go into effect after you’ve passed away. A revocable living trust, however, is effective immediately, and you remain in full control of it throughout your life. A trust also gives you more control of your assets after you’ve passed away by allowing you to specify precise intentions that your successor trustee must execute.
One important thing to note is that establishing a trust doesn’t solve all your problems. You must fund the trust by titling your specific assets and accounts in the trust’s name in order to receive its benefits. Items that are not in the name of the trust will likely go to probate.
Wills and trusts are vital to a well-rounded estate plan, but there are other equally important documents to consider. If your partner or spouse is incapacitated or approaching their final days, you (as their partner or spouse) may be questioned about the validity of your role. Creating these documents while you are healthy can make the process a little less emotional than it might be otherwise. Additionally, you should review these documents every so often to be sure the people appointed to take care of you are still the ones you desire to do so. For that reason, same-sex couples should document their wishes through the following:
A healthcare power of attorney (proxy) – In the event of incapacitation, the healthcare power of attorney allows you to designate someone to make healthcare decisions on your behalf. This is important because it allows you to specify what treatments and care you do or do not want while you’re in an incapacitated state.
Healthcare directive – A more specific version of the healthcare power of attorney, the healthcare directive allows you to designate your wishes for end-of-life care or any potential life-saving treatments.
Durable financial power of attorney – This power of attorney varies by state, but it allows you to elect someone to handle your financial affairs in the event of your incapacitation.
This one can’t be stressed enough. It is imperative that each partner keeps all their beneficiary designations up to date. An incorrect or outdated beneficiary designation could lead to an inadvertent, yet costly, mistake in directing your estate. Imagine having a large life insurance policy or a sizable retirement plan and leaving your estranged ex-spouse as the 100% primary beneficiary. This actually happens! Here are a few tips to keep things tidy:
Don’t forget to name a beneficiary – Accounts with no beneficiary may be subject to the potentially costly and lengthy probate process. In addition, be specific. There are many people out there who have the same name. So, be more specific by adding a Social Security number or date of birth to the beneficiary designation.
Review all account beneficiaries on an annual basis – Be sure to check all your accounts, including life insurance, IRAs, 401(k)s, annuities, mutual funds, etc.
Transfer on death – While your life insurance and retirement accounts should have a clear beneficiary designation form, other accounts may not. Bank accounts and investment brokerage accounts likely have a transfer-on-death designation, which will help your beneficiaries avoid the probate process.
No matter the situation, you should always be extra careful with your finances, especially when you’re planning for a family. From aligning investments with your values to staying on top of estate planning and naming a beneficiary, couples should revise every financial decision carefully. Nevertheless, LGBTQ+ couples should not overlook the financial planning components that make their situation unique.
After implementing the suggestions introduced in this blog, you and your loved ones will certainly rest easier knowing your affairs are in order, should the worst happen. That peace of mind will be something you can all take comfort in now and into the future.
LGBTQ financial planning has unique considerations that require careful thought and planning. These are legal, healthcare, family, and estate planning challenges that should not be overlooked.
According to a recent study, 62% of LGBTQ+ respondents said their gender identity or sexual orientation caused them to experience financial challenges. LGBTQ+ financial planning has numerous unique considerations that require careful thought and planning. There are misconceptions about what LGBTQ+ individuals need regarding financial planning and critical legal and estate planning elements that must be considered.
There is a misconception that marriage and kids are traditionally for a heterosexual relationship. Meaning LGBTQ+ individuals don’t need to spend money or plan for kids, and additionally keep their money independent from their partner’s… so the “family money” nonsense isn’t a thing. This is far from the truth.
In efforts to break these misconceptions, there are wealth planners with personalized expertise helping LGBTQ+ families with their financial planning. Many of which involve expenses for their growing family. Whether they will do IVF, co-IVF, or adoption, there are many options, and the common denominator among them is that all options are expensive! Healthcare plans generally do not address or have comprehensive same-sex family planning benefits included. Meaning, most, if not all, of the cost is out of pocket.
Just because same-sex marriage is legal doesn’t mean there aren’t unique planning considerations for LGBTQ+ families. There are legal considerations, healthcare considerations, family planning, and estate planning. Not to mention it’s still not easy to navigate society.
A significant consideration is planning for a family and the expenses associated with it. Regardless of how you plan on having a child with your partner, you will most likely incur an additional cost that needs to be accounted for. Not to mention all of the healthcare considerations not covered by healthcare plans. A separate savings account or an emergency fund will significantly help if you ever encounter an unexpected health cost.
The law allows same-sex individuals to get married, and there are legal advantages to it, but there is still a lot of planning that shouldn’t be overlooked. So the question is, “How do you know what stage to plan for?” A financial advisor can help navigate every financial planning stage if you’re in a same-sex marriage or soon-to-be!
An essential part of a wealth planner’s job is asking lots of questions. While financial planning, in general, is deeply personal, in this space, it can be intensely personal. And if they don’t acknowledge and educate themselves on the complexities and unique factors of the widely diverse LGBTQ+ community, they might be doing you a disservice.
To anyone in the LGBTQ+ community seeking financial advice, feel empowered to ask your current or potential advisor if they have experience working in this space. And for those advisors seeking to be a better ally to serve the community, there are many resources to help deepen your understanding of LGBTQ+ history, the crucial factors to consider with planning, the additional questions to ask your clients, and more.
Most people who invest do it for the returns. At the end of the day, everyone wants to grow their wealth. But one recurring and trending investment question is whether or not an investment plan set in place is aligned with your values. And this is a prevalent question for LGBTQ+ community investors, and it comes up very often in the financial planning conversation. Ultimately, we want to bet on investments and companies that are ethical and transparent behind the scenes.
If you’re doing your own research for your investment selection, look into more than the financials. For example, consider the Human Rights Campaign Foundation and its Corporate Equality Index (CEI) report of companies’ performance contributing to LGBTQ+ equality in the workplace.
Throughout your research, you’ll be able to evaluate a company based on more than its potential growth and ensure it’s aligned with your preferences and values.
The best way to ensure your investments are aligned with your values is by working with LGBTQ financial advisors who have expertise in your specific financial situation and can guide you accordingly.
If you’ve lost a loved one and played a role in settling their affairs, you’re likely aware of the importance of having a proper estate plan in place. The lack of proper planning can cause a huge headache for loved ones left to navigate the disposition of assets and, likely, the probate court system.
While planning for an unfortunate event is never ideal, unmarried couples in serious relationships should always prepare for the unknown. Same-sex marriage is legal and has leveled the playing field in more than one area; it’s not a 100% safeguard when estate planning. Ever wondered what would happen in a custody battle over children who may not be the biological offspring of the surviving parent? Exactly.
There are three crucial estate planning areas that LGBTQ+ community members should hone down on.
If one partner in an unmarried, serious relationship passes away without a will, the deceased’s assets will go directly to their family, which may leave the other partner with nothing. Without a will, your state essentially creates a will for you upon your passing through a process called intestacy. State intestacy laws rarely include domestic partners, meaning your assets may go to people you do not intend to receive.
Besides being simple to set up, a will doesn’t have to be too specific and allows you to name a guardian for your children. However, wills can be contested in court by anyone who thinks they have a legal right to your assets. Therefore, you should also consider establishing a trust to eliminate almost all concerns about probate or a contestation from hostile family members. While more expensive than a will, a trust has many advantages, including (but not limited to):
Avoiding probate – Because probate is a public process, establishing a trust will keep your estate private. In addition, a trust eliminates the potentially expensive probate costs and can expedite the distribution of assets to beneficiaries.
Flexibility – A will only go into effect after you’ve passed away. A revocable living trust, however, is effective immediately, and you remain in full control of it throughout your life. A trust also gives you more control of your assets after you’ve passed away by allowing you to specify precise intentions that your successor trustee must execute.
One important thing to note is that establishing a trust doesn’t solve all your problems. You must fund the trust by titling your specific assets and accounts in the trust’s name in order to receive its benefits. Items that are not in the name of the trust will likely go to probate.
Wills and trusts are vital to a well-rounded estate plan, but there are other equally important documents to consider. If your partner or spouse is incapacitated or approaching their final days, you (as their partner or spouse) may be questioned about the validity of your role. Creating these documents while you are healthy can make the process a little less emotional than it might be otherwise. Additionally, you should review these documents every so often to be sure the people appointed to take care of you are still the ones you desire to do so. For that reason, same-sex couples should document their wishes through the following:
A healthcare power of attorney (proxy) – In the event of incapacitation, the healthcare power of attorney allows you to designate someone to make healthcare decisions on your behalf. This is important because it allows you to specify what treatments and care you do or do not want while you’re in an incapacitated state.
Healthcare directive – A more specific version of the healthcare power of attorney, the healthcare directive allows you to designate your wishes for end-of-life care or any potential life-saving treatments.
Durable financial power of attorney – This power of attorney varies by state, but it allows you to elect someone to handle your financial affairs in the event of your incapacitation.
This one can’t be stressed enough. It is imperative that each partner keeps all their beneficiary designations up to date. An incorrect or outdated beneficiary designation could lead to an inadvertent, yet costly, mistake in directing your estate. Imagine having a large life insurance policy or a sizable retirement plan and leaving your estranged ex-spouse as the 100% primary beneficiary. This actually happens! Here are a few tips to keep things tidy:
Don’t forget to name a beneficiary – Accounts with no beneficiary may be subject to the potentially costly and lengthy probate process. In addition, be specific. There are many people out there who have the same name. So, be more specific by adding a Social Security number or date of birth to the beneficiary designation.
Review all account beneficiaries on an annual basis – Be sure to check all your accounts, including life insurance, IRAs, 401(k)s, annuities, mutual funds, etc.
Transfer on death – While your life insurance and retirement accounts should have a clear beneficiary designation form, other accounts may not. Bank accounts and investment brokerage accounts likely have a transfer-on-death designation, which will help your beneficiaries avoid the probate process.
No matter the situation, you should always be extra careful with your finances, especially when you’re planning for a family. From aligning investments with your values to staying on top of estate planning and naming a beneficiary, couples should revise every financial decision carefully. Nevertheless, LGBTQ+ couples should not overlook the financial planning components that make their situation unique.
After implementing the suggestions introduced in this blog, you and your loved ones will certainly rest easier knowing your affairs are in order, should the worst happen. That peace of mind will be something you can all take comfort in now and into the future.
Disclosures: Zoe Financial, Inc. ("Zoe Financial") is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. Zoe Financial provides investment advisory services and access to independent registered investment advisers through its platform. The information provided by Zoe Financial is for educational and informational purposes only and should not be construed as personalized investment advice or as an offer to buy or sell any security. All investments involve risk, including possible loss of principal. Past performance is not indicative of future results. Clients should consult with their own financial, tax, or legal professionals before making any investment decisions. The material presented by Zoe Financial is for informational purposes only and is not intended to serve as a substitute for personalized investment advice or as a recommendation or solicitation of any particular security, strategy, or investment product. Material presented has been gathered from sources believed to be reliable, however Adviser cannot guarantee the accuracy or completeness of such information, and certain information presented here may have been condensed or summarized from its original source. Past performance is no guarantee of future results. Zoe Financial does not provide legal or tax advice, and nothing contained in these materials should be taken as legal or tax advice. SEC Registration does not constitute an endorsement of Zoe Financial by the SEC nor does it indicate that Zoe Financial has attained a particular level of skill or ability. The sole purpose of this material is to inform, and it in no way is intended to be an offer or solicitation to purchase or sell any security, other investment or service, or to attract any funds or deposits. Investments mentioned may not be appropriate for all clients. Before making any investment, each investor should carefully consider the risks associated with the investment, as discussed in the applicable offering memorandum, and make a determination based upon their own particular circumstances, that the investment is consistent with their investment objectives and risk tolerance. Lower expenses do not guarantee better investment performance. Certain information contained herein may constitute forward-looking statements. Due to various risks and uncertainties, actual events, results or the performance of a fund may differ materially from those reflected or contemplated in such forward-looking statements.
Disclosure: This page is not investment advice and should not be relied on for such advice or as a substitute for consultation with professional accounting, tax, legal or financial advisors. The observations of industry trends should not be read as recommendations for stocks or sectors.
Investment advisory services are provided by Zoe Financial, Inc. (Zoe Financial), an investment adviser registered with the U.S. Securities and Exchange Commission (SEC). Registration does not imply a certain level of skill or training. Learn more about Zoe Financial on the SEC’s Investment Adviser Public Disclosure website. Brokerage services are provided by Zoe Securities LLC and Apex Clearing Corporation, members of the Financial Industry Regulatory Authority Inc. (FINRA) and Securities Investor Protection Corporation (SIPC). Learn more about Zoe Securities and Apex on FINRA’s BrokerCheck website.
The information in the visuals above is for illustrative purposes only and does not represent an actual user's account, balance, or return. Zoe Financial does not provide tax or legal advice.
Explore the Zoe Wealth Platform with AI
Some of this content may have been generated with the assistance of AI. Please review and sense-check all outputs, as AI tools can occasionally produce incomplete or inaccurate information.
In certain situations, you may be required to disclose that the content was “generated by AI.” Please confirm any specific disclosure or labelling requirements with Compliance.
(646) 680-9244
support@zoefin.com
666 Third Ave, 6th Floor
New York, NY, 10017
Copyright © 2026 Zoe Financial, Inc. | All rights reserved
Find an Advisor
Retirement Planning
Disclosure: This page is not investment advice and should not be relied on for such advice or as a substitute for consultation with professional accounting, tax, legal or financial advisors. The observations of industry trends should not be read as recommendations for stocks or sectors.
Investment advisory services are provided by Zoe Financial, Inc. (Zoe Financial), an investment adviser registered with the U.S. Securities and Exchange Commission (SEC). Registration does not imply a certain level of skill or training. Learn more about Zoe Financial on the SEC’s Investment Adviser Public Disclosure website. Brokerage services are provided by Zoe Securities LLC and Apex Clearing Corporation, members of the Financial Industry Regulatory Authority Inc. (FINRA) and Securities Investor Protection Corporation (SIPC). Learn more about Zoe Securities and Apex on FINRA’s BrokerCheck website.
The information in the visuals above is for illustrative purposes only and does not represent an actual user's account, balance, or return. Zoe Financial does not provide tax or legal advice.
Explore the Zoe Wealth Platform with AI
Some of this content may have been generated with the assistance of AI. Please review and sense-check all outputs, as AI tools can occasionally produce incomplete or inaccurate information.
In certain situations, you may be required to disclose that the content was “generated by AI.” Please confirm any specific disclosure or labelling requirements with Compliance.
(646) 680-9244
support@zoefin.com
666 Third Ave, 6th Floor
New York, NY, 10017
Copyright © 2026 Zoe Financial, Inc. | All rights reserved
Find an Advisor
Retirement Planning
Disclosure: This page is not investment advice and should not be relied on for such advice or as a substitute for consultation with professional accounting, tax, legal or financial advisors. The observations of industry trends should not be read as recommendations for stocks or sectors.
Investment advisory services are provided by Zoe Financial, Inc. (Zoe Financial), an investment adviser registered with the U.S. Securities and Exchange Commission (SEC). Registration does not imply a certain level of skill or training. Learn more about Zoe Financial on the SEC’s Investment Adviser Public Disclosure website. Brokerage services are provided by Zoe Securities LLC and Apex Clearing Corporation, members of the Financial Industry Regulatory Authority Inc. (FINRA) and Securities Investor Protection Corporation (SIPC). Learn more about Zoe Securities and Apex on FINRA’s BrokerCheck website.
The information in the visuals above is for illustrative purposes only and does not represent an actual user's account, balance, or return. Zoe Financial does not provide tax or legal advice.
Explore the Zoe Wealth Platform with AI
Some of this content may have been generated with the assistance of AI. Please review and sense-check all outputs, as AI tools can occasionally produce incomplete or inaccurate information.
In certain situations, you may be required to disclose that the content was “generated by AI.” Please confirm any specific disclosure or labelling requirements with Compliance.
(646) 680-9244
support@zoefin.com
666 Third Ave, 6th Floor
New York, NY, 10017
Copyright © 2025 Zoe Financial, Inc. | All rights reserved
