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Can you explain me the meaning of some words in this sentence? "Providing the legal benefits that the license of marriage offers same-sex households (including, but not limited to, property rights, health care decision-making, estate planning, tax consequences, spousal privileges in medical emergency situations and co-parental adoption of children)" I don't understand what 'estate planning' and 'tax consequences' are. Please help me. Thank you in advance!
Oct 6, 2016 12:17 PM
Answers · 2
'Estate planning' means making arrangements for who is to inherit your property when you die. 'Tax consequences' means how your tax status will be affected e.g. whether you will have to pay more or less income tax as married/partnered person.
October 6, 2016
estate = the person's property. For example: house, land, car... estate planning = deciding who gets what property and when. For example: When they marry, the person wants their partner to own half of the house. The person wants to give their house to one of their children after they die. The estate plan will probably be an official document that states who owns (or will own) what property. tax consequences = depending on marital status, you can pay or claim different amounts of tax. If the person gets married, that will change the amount of tax that they have to pay. In this example we are talking about "legal benefits". Benefits usually mean something good. So, by marrying a same-sex partner, you would probably pay less tax.
October 6, 2016
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