June 23, 2014

Marcum LLP Partners with CNN on Same-Sex Marriage Map

Related Service Modern Family & LGBT Services

Marcum LLP Partners with CNN on Same-Sex Marriage Map Modern Family & LGBT Services

New York City, NY – CNN has tapped Marcum LLP to collaborate with the network on an interactive online map depicting the current status of same-sex marriage in the United States. State-by-state data for the map, which went live on CNN’s U.S. website today, was provided by Marcum’s LGBT & Non-Traditional Family Practice group.

Marcum was the first national accounting firm to establish a tax and estate planning practice dedicated to the unique needs of LGBT clients. The group’s co-leaders, Nanette Lee Miller in San Francisco and Janis Cowhey in New York, are widely regarded as thought leaders in this specialized practice area.

“There are 50 states with 50 sets of circumstances, and the landscape keeps changing as the bans on same-sex marriage are reversed in more and more states,” said Miller, who founded Marcum’s LGBT practice in June 2012. “CNN’s map is designed to help people stay up to date on where each state stands on the issue, particularly for couples contemplating marriage. It is extremely important for them to understand the implications of marriage not only in their home states, but also in the states where they work, own property or may contemplate moving in the future.

“While the overturning of the Defense of Marriage Act in June 2013 effectively granted full recognition to same-sex married couples for federal tax purposes, recognition at the state level is presently available only in 19 states plus the District of Columbia. That creates a complex scenario for married same-sex couples living in non-recognition states or living and working in different states with opposing recognition standards,” Miller said.

“The situation becomes even more difficult for retirement and estate planning purposes, particularly at a time of life when health considerations and family support become critical,” said Cowhey, a Tax Partner and a Trusts & Estates attorney. “It is impossible to overemphasize the importance of planning, preferably beginning before you get married or as soon thereafter as possible.”

 

About Marcum LLP
Marcum LLP is one of the largest independent public accounting and advisory services firms in the nation, with offices in major business markets throughout the U.S., as well as select international locations. Headquartered in New York City, Marcum provides a full spectrum of traditional tax, accounting, and assurance services; advisory, valuation, and litigation support; managed accounting services; and an extensive portfolio of specialty and niche industry practices. The Firm serves both privately held and publicly traded companies, as well as nonprofit and social sector entities, high net worth individuals, private equity funds, and hedge funds, with a focus on middle-market companies and closely held family businesses. Marcum is a member of the Marcum Group, an organization providing a comprehensive array of professional services.