Financial
Financial planning for unmarried domestic partners
How times have changed. Less than 22 percent of American households are composed of married couples with dependent children, according to the latest U.S. Census. That number has dropped significantly: In 1970, 40 percent of households fit in that category.1 Meanwhile, over the past 40 years, the number of unmarried couple households has tripled to nearly 4 percent of the population; there are currently about four million such households in the United States.1
Legal protections
Unlike married couples, unmarried partners lack many of the legal protections or rights granted to spouses in the event of divorce or death. Although most states will consider a claim by an unmarried partner, there is no specific legal precedent in the absence of a written contract. Therefore, couples may wish to consider creating a domestic partnership agreement. This document can detail the sharing of expenses as well as the ownership and distribution of assets should the relationship end. A domestic partnership agreement is especially important in situations where one partner is the primary breadwinner or owns the majority of assets.
Decision making control is another crucial issue. Unmarried partners should create durable power of attorney and health care proxy documents. Some states also require a living will to address life-support issues. Creating a letter of instruction regarding burial or memorial preferences should also be considered. If such documents do not exist, an unmarried individual may find that his or her partner’s blood relatives will be allowed to make these key decisions if the need arises.
Unmarried couples with children face another concern: legal guardianship. Nearly 40 percent of unmarried couples have children under the age of 18.1 Yet legal guardianship of these children may not be as sound as for married couples. Because of this, unmarried couples should consider signing a written agreement acknowledging parental rights and responsibilities and having each partner name the other as primary guardian in wills.
Achieving a comfortable retirement
Although both married and unmarried couples need to save for retirement, unmarried couples may need to save more. Why? Because they will not be eligible for each other’s Social Security benefits and, in some cases, employer-sponsored retirement plan distributions unmarried partners should check their plan rules and specify plan beneficiaries. The IRS now allows a nonspousal beneficiary of an IRA to take required distributions over his or her lifetime rather than in a lump sum, allowing for potential tax-deferred growth over a longer period of time. Therefore, you may wish to contribute the annual maximum to an IRA ($5,000 in 2011; $6,000 age 50 and over)) before maximizing contributions to an employer-sponsored retirement account.
Annuities may also be an attractive investment vehicle since they allow for unlimited after-tax contributions, regardless of income or sources of income. Additionally, the payout methods of annuities usually include insurance features, enabling a named beneficiary or beneficiaries to receive payments if the owner dies before withdrawals begin.
When discussing retirement issues with your trusted advisors, remember to review all financial documents, including employer-sponsored retirement accounts, IRAs, annuities, and life insurance policies, to ensure named beneficiaries are consistent with those mentioned in wills.
Estate planning issues
For a spouse, a marriage certificate is the gateway to a number of financial benefits that unmarried partners do not necessarily possess. This disadvantage is especially apparent in regard to estate planning.
It’s essential for domestic partners to create wills. If you die without a will, the state may distribute your partner’s assets to his or her closest blood relatives. To help rebut a challenge to a will, domestic partners may want to videotape their wishes in the presence of an attorney. Additionally, a living trust may be desired because it remains confidential and is not subject to probate.
Transferring assets upon death requires careful planning for unmarried partners. For example, federal tax law allows all assets to pass to a spouse tax free and no applicable estate taxes are due until the second spouse dies. Unmarried couples do not enjoy this tax advantage.
If you have significant taxable assets, it will be necessary to pursue other avenues to potentially reduce estate tax. Currently, the federal estate tax is 35 percent on estates over $5 million, but the rate is scheduled to increase to 55 percent and apply to estates in excess of $1 million in 2013 unless Congress enacts new legislation. To help reduce tax liabilities for the surviving partner, you can purchase life insurance to pay any potential federal and state estate taxes. A surviving partner must own the insurance to avoid it becoming part of the estate of the deceased. Therefore, each partner must own enough insurance to pay any anticipated taxes on the assets of his or her partner.
Points to remember
Unmarried couples may wish to create a domestic-partnership agreement, which should detail the sharing of expenses as well as the ownership and distribution of assets should the relationship end.
Legal protections, such as durable power of attorney and health care proxy documents, and in some cases, a living will, can help safeguard decision-making control, if one partner is unable to make financial or health care decisions.
Domestic partners may need to save more for retirement than married couples. Annuities and IRAs may be attractive retirement savings vehicles for such couples.
Careful estate planning, including the use of trusts, may be appropriate for effective wealth transfer as unmarried partners will not enjoy tax advantages that federal law bestows upon spouses.
Source: U.S. Census Bureau, based on 2009 census estimates (latest available).
Potential purchasers seeking to use an annuity to fund a qualified or other tax-advantaged retirement plan should understand that the use of an annuity for such purpose is not necessary to defer taxation of investment earnings.
Morgan Stanley Smith Barney and its Financial Advisors do not provide tax or legal advice, are not “fiduciaries”(under ERISA, the Internal Revenue Code or otherwise) with respect to the services or activities described herein, and this material was not intended or written to be used for the purpose of avoiding tax penalties that may be imposed on the taxpayer. Individuals should consult their personal tax and legal advisors before making any tax or legal related decisions.
The author(s) and/or publication are neither employees of nor affiliated with Morgan Stanley Smith Barney LLC (“MSSB”). By providing this third party publication, we are not implying an affiliation, sponsorship, endorsement, approval, investigation, verification or monitoring by MSSB of any information contained in the publication.
The opinions expressed by the authors are solely their own and do not necessarily reflect those of MSSB. The information and data in the article or publication has been obtained from sources outside of MSSB and MSSB makes no representations or guarantees as to the accuracy or completeness of information or data from sources outside of MSSB. Neither the information provided nor any opinion expressed constitutes a solicitation by MSSB with respect to the purchase or sale of any security, investment, strategy or product that may be mentioned.
Article written by McGraw Hill and provided courtesy of Morgan Stanley Smith Barney Financial Advisor Gregory Lawson. Morgan Stanley Smith Barney LLC. Member SIPC.
Valentine’s Day is often portrayed as a celebration of romantic love — flowers, chocolates, and candlelit dinners. But for many LGBTQ+ individuals and couples, Valentine’s Day can also be a moment to reflect on something deeper: the love that creates a safe, welcoming home.
For LGBTQ+ home buyers and sellers, homeownership is more than a financial milestone—it is an act of belonging, resilience, and pride. Owning a home can mean finally having a place where you can hold hands with your partner on the front porch, decorate with your authentic style, and build a life free from judgment. In this way, buying or selling a home is one of the most meaningful love stories many LGBTQ+ people will ever write.
This Valentine’s Day, whether you’re a first-time gay home buyer, a same-sex couple upgrading your space, or an LGBTQ+ seller moving on to your next chapter, it’s worth thinking about how love, identity, and real estate intersect—and how to navigate that journey with confidence, protection, and the right support.
Love, Identity, and the Meaning of ‘Home’
For generations, LGBTQ+ people were denied equal access to housing, homeownership, and legal protections. Even today, many LGBTQ+ home buyers still face subtle bias, uncomfortable interactions, or outright discrimination in the real estate process.
That’s why finding LGBTQ+ friendly real estate and an affirming gay friendly realtor or lesbian realtor matters so much. A home isn’t just a building—it’s a personal sanctuary. Working with LGBTQ+ real estate agents who understand your lived experience can make all the difference between a stressful transaction and a joyful one.
For over 30 years, GayRealEstate.com has been the leading gay real estate network, connecting LGBTQ+ home buyers and sellers with gay real estate agents, lesbian real estate agents, and LGBTQ+ friendly realtors who truly “get it.” Their mission has always been simple yet powerful: to ensure that every LGBTQ+ person has access to safe, respectful, and inclusive real estate services.
Finding Your Match: Choosing the Right LGBTQ+ Friendly Realtor
Much like dating, finding the right real estate agent is about compatibility, trust, and communication. Here are some key tips for choosing the best LGBTQ+ real estate representation:
- Look for experience with LGBTQ+ clients. Search for a gay realtor near me or lesbian realtor near me through GayRealEstate.com, where agents are vetted for cultural competency and community commitment.
- Ask about their experience with same-sex couple home buying. A strong agent should understand issues like joint ownership, legal protections, and financing considerations.
- Choose someone who listens. You should feel safe sharing your priorities—whether that includes proximity to LGBTQ+ nightlife, affirming schools, or lesbian-friendly neighborhoods.
- Prioritize respect and transparency. Your agent should advocate for you, not just push a quick sale.
The right gay friendly real estate agent isn’t just helping you buy a house—they’re helping you find a place to build your life.
Best Cities for LGBTQ+ Home Buyers
If love is your compass, location is your map. Some of the best cities for LGBTQ+ home buyers consistently offer strong community presence, legal protections, and welcoming neighborhoods:
- Wilton Manors, Florida – A hub for LGBTQ+ culture with thriving LGBTQ+ real estate opportunities
- Palm Springs, California – A long-standing LGBTQ+ retirement and second-home destination
- Provincetown, Massachusetts – Historic LGBTQ+ community with progressive housing protections
- Asheville, North Carolina – Growing market with inclusive real estate services
- Fort Lauderdale, Florida – Diverse, welcoming, and highly sought-after for LGBTQ+ home ownership
Working with GayRealEstate.com allows you to connect with local LGBTQ+ real estate experts who know these markets inside and out.
Navigating Legal Protections in LGBTQ+ Real Estate
Love is universal—but legal protections are not always consistent. Understanding your rights is essential when buying or selling a home as an LGBTQ+ person.
Key protections include:
- Fair Housing Act (FHA): Prohibits discrimination based on sex, which courts have increasingly interpreted to include sexual orientation and gender identity.
- State and local protections: Many cities and states offer additional safeguards against LGBTQ+ housing discrimination.
- Same-sex couple legal considerations: If you are married, joint ownership is typically straightforward. If not, consult an attorney about co-ownership agreements.
A knowledgeable LGBTQ+ friendly realtor from GayRealEstate.com can help guide you through these complexities and connect you with trusted legal professionals when needed.
Buying a Home as an LGBTQ+ Person: Practical Tips
If you’re embarking on your home-buying journey this Valentine’s season, here are smart, practical steps to take:
- Clarify your priorities. Do you want a vibrant LGBTQ+ neighborhood, quiet suburbs, or access to queer community spaces?
- Get pre-approved for a mortgage. This strengthens your position in competitive markets.
- Work with an LGBTQ+ real estate agent. Searching “finding a gay real estate agent” or “finding a lesbian real estate agent” through GayRealEstate.com is a great first step.
- Research inclusive communities. Some neighborhoods are more welcoming than others.
- Know your rights. If you experience bias, document it and seek legal guidance.
Buying a home is an act of self-love—and community love.
Selling a Home as an LGBTQ+ Person
Selling can be just as emotional as buying, especially if your home represents years of memories with your partner, friends, or chosen family.
When selling a home as an LGBTQ+ person, consider:
- Working with a gay friendly realtor who will market your home inclusively
- Highlighting LGBTQ+ community appeal in listings
- Being prepared for potential buyer bias (and knowing how to respond)
- Leaning on GayRealEstate.com’s LGBTQ+ real estate services for trusted guidance
Your story—and your home—deserve respect.
Real Estate for LGBTQ+ Families
More LGBTQ+ couples are raising children, fostering, or building blended families. This makes homeownership even more meaningful.
When searching for real estate for LGBTQ+ families, consider:
- LGBTQ+ affirming school districts
- Family-friendly queer communities
- Safe neighborhoods with inclusive values
- Access to LGBTQ+ resources and social networks
GayRealEstate.com specializes in helping LGBTQ+ families find homes that truly fit their lives.
Love, Pride, and Homeownership
At its core, Valentine’s Day is about connection. For LGBTQ+ people, homeownership can be one of the most profound expressions of love—love for yourself, your partner, your family, and your future.
Whether you are a first-time gay home buyer, a same-sex couple relocating, or an LGBTQ+ seller moving forward, you deserve an experience rooted in dignity, fairness, and celebration.
For over three decades, GayRealEstate.com has stood as the leading source for LGBTQ+ real estate, gay real estate, lesbian real estate, and LGBTQ+ home buying and selling representation. Their nationwide network of gay real estate agents, lesbian-friendly real estate agents, and LGBTQ+ friendly realtors ensures that your real estate journey is guided by professionals who understand your heart—and your home.
This Valentine’s Day, let your next chapter be written in a place where you can truly belong. Because when love leads the way, home is never far behind.
Scott Helms is president and owner of Gayrealestate.com.
Real Estate
New year, new housing landscape for D.C. landlords
Several developments expected to influence how rental housing operates
As 2026 begins, Washington, D.C.’s rental housing landscape continues to evolve in ways that matter to small landlords, tenants, and the communities they serve. At the center of many of these conversations is the Small Multifamily & Rental Owners Association (SMOA), a D.C.–based organization that advocates for small property owners and the preservation of the city’s naturally occurring affordable housing.
At their December “DC Housing Policy Summit,” city officials, housing researchers, lenders, attorneys, and housing providers gathered to discuss the policies and proposals shaping the future of rental housing in the District. The topics ranged from recent legislative changes to emerging ballot initiatives and understanding how today’s policy decisions will affect housing stability tomorrow.
Why Housing Policy Matters in 2026
If you are a landlord or a tenant, several developments now underway in D.C., are expected to influence how rental housing operates in the years ahead.
One of the most significant developments is the Rebalancing Expectations for Neighbors, Tenants and Landlords (RENTAL) Act of 2025, a sweeping piece of legislation passed last fall and effective December 31, 2025, which updates a range of housing laws. This broad housing reform law will modernize housing regulations and address long-standing court backlogs, and in a practical manner, assist landlords with shortened notice and filing requirements for lawsuits. The Act introduces changes to eviction procedures, adjusts pre-filing notice timelines, and modifies certain tenant protections under previous legislation, the Tenant Opportunity to Purchase Act.
At the same time, the District has expanded its Rent Registry, to have a better overview of licensed rental units in the city with updated technology that tracks rental units subject to and exempt from rent control and other related housing information. Designed to improve transparency and enforcement, Rent Registry makes it easier for all parties to verify rent control status and compliance.
Looking ahead to the 2026 election cycle, a proposed ballot initiative for a two-year rent freeze is generating significant conversation. If it qualifies for the ballot and is approved by voters, the measure would pause rent increases across the District for two years. While still in the proposal phase, it reflects the broader focus on tenant affordability that continues to shape housing policy debates.
What This Means for Rental Owners
Taken together, these changes underscore how closely policy and day-to-day operations are connected for small landlords. Staying informed about notice requirements, registration obligations, and evolving regulations isn’t just a legal necessity. It’s a key part of maintaining stable, compliant rental properties.
With discussions underway about rent stabilization, voucher policies, and potential rent freezes, long-term revenue projections will be influenced by regulatory shifts just as much as market conditions alone. Financial and strategic planning becomes even more important to protect your interests.
Preparing for the Changes
As the owner of a property management company here in the District, I’ve spent much of the past year thinking about how these changes translate from legislation into real-world operations.
The first priority has been updating our eviction and compliance workflows to align with the RENTAL Act of 2025. That means revising how delinquent rent cases are handled, adjusting notice procedures, and helping owners understand how revised timelines and court processes may affect the cost, timing, and strategy behind enforcement decisions.
Just as important, we’re shifting toward earlier, more proactive communication around compliance and regulatory risk. Rather than reacting after policies take effect, we’re working to flag potential exposure in advance, so owners can make informed decisions before small issues become costly problems.
A Bigger Picture for 2026
Housing policy in Washington, D.C., has always reflected the city’s values from protecting tenants to preserving affordability in rapidly changing neighborhoods. As those policies continue to evolve, the challenge will be finding the right balance between stability for renters and sustainability for the small property owners who provide much of the city’s housing.
The conversations happening now at policy summits, in Council chambers, and across neighborhood communities will shape how rental housing is regulated. For landlords, tenants, and legislators alike, 2026 represents an opportunity to engage thoughtfully, to ask hard questions, and to create a future where compliance, fairness, and long-term stability go hand-in-hand.
Real Estate
Unconventional homes becoming more popular
HGTV show shines spotlight on alternatives to cookie cutter
While stuck in the house surrounded by snow and ice, I developed a new guilty pleasure: watching “Ugliest House in America” on HGTV. For several hours a day, I looked at other people’s unfortunate houses. Some were victims of multiple additions, some took on the worst décor of the ‘70s, and one was even built in the shape of a boat.
In today’s world, the idea of what a house should look like has shifted dramatically. Gone are the days of cookie-cutter suburban homes with white picket fences. Instead, a new wave of architects, designers, and homeowners are pushing the boundaries of traditional housing to create unconventional and innovative spaces that challenge our perceptions of what a home can be.
One of the most popular forms of alternative housing is the tiny house. These pint-sized dwellings are typically fewer than 500 square feet and often are set on trailers to allow for mobility. Vans and buses can also be reconfigured as tiny homes for the vagabonds among us.
These small wonders offer an affordable and sustainable living option for those wishing to downsize and minimize their environmental footprint. With clever storage solutions, multipurpose furniture, and innovative design features, tiny homes have become a creative and functional housing solution for many, although my dogs draw the line at climbing Jacob’s Ladder-type steps.
Another unusual type of housing gaining popularity is the shipping container home. Made from repurposed shipping containers, these homes offer a cost-effective and environmentally friendly way to create modern and sleek living spaces. With their industrial aesthetic and modular design, shipping container homes are a versatile option for those contemplating building a unique and often multi-level home.
For those looking to connect with nature, treehouses are a whimsical and eccentric housing option. Nestled high up in the trees, these homes offer a sense of seclusion and tranquility that is hard to find in traditional housing. With their distinctive architecture and stunning views, treehouses can be a magical retreat for those seeking a closer connection to the natural world.
For a truly off-the-grid living experience, consider an Earthship home. These self-sustaining homes use recycled construction materials and rely on renewable energy sources like solar power and rainwater harvesting. With their passive solar design and natural ventilation systems, Earthship homes are a model of environmentally friendly living.
For those with a taste for the bizarre, consider a converted silo home. These cylindrical structures provide an atypical canvas for architects and designers to create modern and minimalist living spaces. With curved walls and soaring ceilings, silo homes offer a one-of-a-kind living experience that is sure to leave an impression.
Barn homes have gained popularity in recent years. These dwellings take the rustic charm of a traditional barn and transform it into a modern and stylish living space. With their open, flexible floor plans, lofty ceilings, and exposed wooden beams, barn homes offer a blend of traditional and contemporary design elements that create a warm and inviting atmosphere, while being tailored to the needs and preferences of the homeowner.
In addition to their unique character, barn homes also offer a sense of history and charm that is hard to find in traditional housing. Many of them have a rich and storied past, with some dating back decades or even centuries.
If you relish life on the high seas (or at a marina on the bay), consider a floating home. These aquatic abodes differ from houseboats in that they remain on the dock rather than traverse the waterways. While most popular on the West Coast (remember “Sleepless in Seattle”?), you sometimes see them in Florida, with a few rentals available in Baltimore’s Inner Harbor and infrequent sales at our own D.C. Wharf. Along with the sense of community found in marinas, floating homes offer a peaceful retreat from the hustle and bustle of city life.
From tiny homes on wheels to treehouses in the sky or homes that float, these distinctive dwellings offer a fresh perspective on how we live and modify traditional thoughts on what a house should be. Sadly, most of these homes rely on appropriate zoning for building and placement, which can limit their use in urban or suburban areas.
Nonetheless, whether you’re looking for a sustainable and eco-friendly living option or a whimsical retreat, there is sure to be an unconventional housing option that speaks to your sense of adventure and creativity. So, why settle for a run-of-the-mill ranch or a typical townhouse when you can live in a unique and intriguing space that reflects your personality and lifestyle?
Valerie M. Blake is a licensed Associate Broker in D.C., Maryland, and Virginia with RLAH @properties. Call or text her at 202-246-8602, email her at [email protected] or follow her on Facebook at TheRealst8ofAffairs.
D.C. police arrest man for burglary at gay bar Spark Social House
Going for gold: Ford Bronco Sport vs. Toyota RAV4
How do we honor Renee Good, Alex Pretti?
Judge rescinds order against activist in Capital Pride lawsuit
Calendar: February 20-26
LGBTQ groups question US health agreements with African countries
Trump falsely links trans people to terrorism
Fellow lawmakers praise Adam Ebbin after Va. Senate farewell address
LGBTQ activists mourn the Rev. Jesse Jackson
