Same-sex marriage will improve financial stability for couples

May 10, 2012 17:56

Update on the big story today: President Barack Obama's declaration of his support of same-sex marriage.

While Obama's support is mostly symbolic at this point, his statement could signal the beginning of the end of the Defense of Marriage Act, or DOMA, which prohibits the recognition of gay marriage at the federal level. Aside from all the emotional implications, DOMA presents some very real financial challenges for married same-sex couples, especially when it comes to income tax returns and retirement planning.

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