Domestic partners face hurdles in financial planning

Bruce Joffe thought he knew everything he needed to know about financial planning.

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As a self-proclaimed worrywart and accomplished businessman -- he owns several businesses in Northern Virginia -- he figured his retirement plans and his family were taken care of.

"I'm very conservative, I'm the one who worries about finances," Joffe said.

After attending a financial planning seminar, he realized he wasn't worrying enough.

Like many other people in long-term domestic relationships, Joffe and his partner of 10 years, Russ Warren, are especially vulnerable when it comes to matters of finance. Because the law often doesn't recognize common law marriages nor gay or lesbian unions, unmarried domestic partners miss out on death benefits, have no rights to each other's pensions or Social Security benefits, and generally are denied the legal and financial provisions that legal spouses take for granted.

This is particularly true in a state like Maryland, which does not recognize civil unions or common law marriages. (Nationwide, only 15 states and the District of Columbia recognize common law marriages, and only Vermont recognizes civil unions between same-sex partners.)

"There are several rights that domestic partners are not guaranteed, things that people don't even think of," said Craig Berman, a lawyer and CPA in Timonium, "Under the eyes of the law, if you're married, you're already presumed financial protection, like if a spouse dies."

The number of "nonmarried households" in the United States is growing. According to the 1999 U.S. Census, the number of unmarried-partner households was 3.2 million. That figure rose to 5.5 million in 2000, and many groups say that number is actually larger. In Maryland, unmarried partners accounted for 5.6 percent of total households.

In both cases, these data represent both gay and lesbian couples and unmarried heterosexual couples.

'An eye-opener'

Despite all of his diligence, Joffe learned that in order to protect his interests, and those of his partner, Warren, he would have to do more than just save money.