Until recently, Social Security didn't treat same-sex spouses the same as their opposite-sex counterparts, denying them spousal and survivors' benefits. The Supreme Court's decision to overturn the Defense of Marriage Act opened the door to Social Security benefits for same-sex spouses, but even though the Social Security Administration has started processing payments, there's one catch that could cause problems for many same-sex couples.
In the following video, Dan Caplinger, The Motley Fool's director of investment planning, goes through marriage-equality issues for Social Security and notes how the SSA has started paying benefits to same-sex spouses. But as Dan warns, the SSA is still subject to a rule that says that only couples who live in a state that recognizes their same-sex marriage can receive benefits, leaving those who traveled to another state to get married out of luck if they live in a state that doesn't allow same-sex marriage. Dan points out that the SSA is trying to update the rule, but for now, couples need to be aware of the rule and its implications.
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The article Social Security: Why Some Same-Sex Couples Still Aren't Getting Benefits originally appeared on Fool.com.Neither Fool contributor Dan Caplinger nor the Motley Fool has any position in any stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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