Our differences make us stronger.
At Abacus, we celebrate diversity with pride. Being LGBTQ+ in today’s world is both liberating and challenging. Come as your whole self and work with people who support you and are sensitive to your needs.
We understand the unique financial challenges faced by the LGBTQ+ community.
Community property, social security benefits, and insurance
Ensuring you are
Financial planning for adoption, fostering, surrogacy, IUI/IVF
Financial, legal, and medical decisions around estate planning
Whether living single or partnered, the distinct financial needs of the LGBTQ+ community can be complex to navigate. You might be asking yourself questions like:
- “Would it be more financially beneficial for my partner and me to get legally married or stay single?”
- “Is it better to have a joint account or keep our money separate?”
- “What do I need to do financially if I want to start a family via adoption, surrogacy, or IVF?”
Partnering with an advisor can help you build a lasting and legal legacy that reaches your goals and honors your values.
of the LGBTQ+ community report experiencing financial problems due to gender identity or sexual orientation.
According to a 2018 survey by Experian, challenges they faced included housing discrimination, wage discrimination and lack of career advancement.
Same-sex couples face system-wide discrimination.
According to a 2019 housing study, when applying for mortgages, same-sex borrowers experienced a
3% to 8% lower approval rate
when compared to diﬀerent-sex borrowers of similar proﬁles — and among approved loans,
higher interest rates/fees.
You deserve to work with a team who truly understands you.
At Abacus, our passion is helping you explore your unique values, turning what you have today into what fulfills you tomorrow. No matter your financial means, we transform complexity into empowerment and possibility.
As proud members of the LGBTQ+ community ourselves, we’re here to help you navigate the complexities surrounding your money life.
Saving for Retirement
Aligning your Money with your Values
Investing your Portfolio
Identifying Potential Risks
Reaching your Important Goals
Financial Planning Questions for LGBTQ+ Households
While many financial planning services for LGBTQ+ couples can look similar to those in the non-LGBTQ+ community, there are several distinct areas of departure. Some of these areas involve social security benefits, community property, and spousal IRA rollover upon a partner’s passing.
When it comes to family considerations, there are often greater costs to navigate for couples who participate in adoption, in vitro fertilization (IVF), other fertility treatments, and surrogacy. In addition, parental leave benefits do not always apply in the same way to the LGBTQ+ individuals and couples. Analyzing benefits packages and federal and state programs for family and parental leave is hugely important for family planning.
Healthcare can be particularly expensive and difficult to navigate for the LGBTQ+ community. Health plans can have intricate and complex challenges that are often not friendly to the unique needs of couples or families who are LGBTQ+ and/or may not be legally married. Life partners who are not legally married can face many hurdles regarding medical privacy, such as who may visit or make decisions for them in a medical crisis.
It is also essential to find the right types of life and disability insurance, and accurately name beneficiaries to ensure payouts go where they are intended without delay.
Depending on how you structure your relationships and lives, there can be enormous tax implications that affect retirement planning – especially in your prime earning years.
A financial advisor can help you determine the best course of action to help navigate the complexities of social security and honor your values, all while maximizing your long-term financial plan.
One of the most important things often overlooked in estate planning is Power of Attorney (POA) and Advance Healthcare Directive (AHCD). These are documents that name who can make both financial and medical decisions on your behalf if you become unable to yourself. This is essential for LGBTQ+ couples to ensure they have their person of choice making these critical decisions, as it may default to family of origin.
Property re-titling, designating beneficiaries in your will, making sure a non-biological child is cared for – these are important areas to ensure your legacy is protected and your family has peace of mind.
As with other areas, those in the LGBTQ+ community often must go through additional steps to buy a house, especially if they are partnered, but not legally married. As of 2023, only 22 states and the District of Columbia prohibit discrimination in housing based on both sexual orientation and gender identity. It’s important to understand the laws in your state and how they can impact the rental or home buying experience. A financial advisor can walk you through the necessary steps to help you get the home you’ve been dreaming of.