Lesbian Financial Planning

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Written By: jandi on October 10, 2008 No Comment

It is very important in any kind of relationship, gay or straight, to financially plan for the future. Yes, it’s nice to be loved and fall in love, but any relationship could get sour if not carefully planned, financially.

It’s all more important in a gay or lesbian relationship since they face a number of obstacles. Although some countries legalize lesbian marriage and so couples are protected, some don’t. This is where the problem comes in. What if your partner gets sick and she doesn’t have any health insurance? Can she be covered by yours? What if you don’t have one?

In order to protect your love one, lesbian couples need to carefully plan. Here are some points to consider:

1. Secure a will. A will ensures that a partner’s wishes is carried out in case of death.

2. Execute a power of attorney. A power of attorney allows a partner to make decisions and act in the event the other partner is mentally or physically incapacitated.

3. Plan Financially. Partners should exert their best effort in understanding how to manage their finances. If partners have difficulty discussing finances, get some help from a financial planner.

3. Get health insurance. Some companies in the US are very accommodating and are willing to give the same benefits to gay people. If not, then get your own insurance.

4. Plan for retirement. This is very crucial for lesbian couples who are already of age. If carefully planned everything will go smoothly. Otherwise, no.

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