Adopting a child can be complicated. It can be even more complicated and fraught with financial and legal risks for same-sex couples.

Children change everything. That’s never truer than when those seeking to adopt a child are same-sex partners.

With state laws mixed on the matter and federal laws as yet unchanged, same-sex adoption is far from settled.

In the meantime, same-sex couples need to define their “families” from the laws as they are. The Wall Street Journal recently provided some insight in an article titled “For Same-Sex Couples, the Finances Get Even More Complicated.” Essentially, fundamental financial and estate planning is not optional for same-sex couples.

According to the article, some 2 million to 2.8 million children are being reared in same-sex households. Now, more than ever, same-sex couples must ensure that their wills, trusts, powers of attorney and health care directives are ship-shape. In the context of adoption, this means making proper provision for the guardians of an adopted minor child. And there is a lot of need.

Bottom line: same-sex couples that adopt children need to make sure all of their financial and legal ducks are in a row. For many this may mean a commitment to life insurance or to a carefully-drafted estate plan.

For more information, please visit my estate planning website.

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