Great article on financial planning for same-sex couples in InvestmentNews (excerpt below): http://www.investmentnews.com/article/20120527/REG/305279997
Even in states such as Illinois, which grants partners in a civil union many of the rights traditionally reserved for spouses, couples still need certain protections, such as durable powers of attorney and advance health care directives, said independent estate attorney Manish Bhatia.
Just because hospitals in Illinois will now recognize a same-sex partner’s rights to make decisions for an incapacitated partner, “what if there is an accident while they are on vacation in another state that doesn’t recognize unions?” he asked.
“Since there are ambiguities between states, and federal law doesn’t recognize the unions, the best solution for inheritance issues, health care decisions, guardianship and other concerns is to have a proper estate plan in place,” Mr. Bhatia said.