Debra Neiman: Planning for Nontraditional Couples

Opiela, Nancy
February 2002
Journal of Financial Planning;Feb2002, Vol. 15 Issue 2, p92
Academic Journal
Along with Deborah D. Maloy, CFP, Debra A. Neiman founded the Wakefield, Massachusetts-based firm of Neiman-Maloy Financial Group Inc. in 1996. According to Neiman, the biggest issue for financial planners while dealing with gay and lesbian couples, or any unmarried couple, for that matter, is that some of the basic financial planning rules and assumptions don't apply. She notes that planners who are unaccustomed to working with nontraditional couples may make an enormous mistake from the beginning. That mistake has to do with software: more than likely, Neiman says, financial planning software won't work for these couples. Most financial planning software assumes that, when one inputs the names of two people in one file those two people are married. Thus, the software goes on to make other faulty assumptions. One of the must common issues for the gay and lesbian couples with whom Neiman works is the need for legal documents. Neiman advises planners to start at square one and address basic planning issues before addressing any specific issues the couple may have.


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