Opinions
Unique financial planning challenges for trans community
Overcoming roadblocks in journey to living an authentic life

Approximately 2.6 million Americans identify as transgender, according to the U.S. Census Bureau Household Pulse Survey in 2023. This community faces many financial, legal, and estate planning challenges, resulting in higher rates of financial instability compared to the general population. However, these challenges are not generally understood or even discussed.
At JPMorgan Chase, we’re dedicated to providing awareness and education to help all communities — including members of the LGBTQ+ community — reach their financial goals. Our team at J.P. Morgan Wealth Management recently published a new white paper to offer actionable tips for transgender adults to help them overcome some of the specific obstacles they face with planning.
Here are some key takeaways:
Inaccurate identity documents create a foundational problem
Hundreds of thousands of transgender people in the U.S. do not have a single piece of identification that correctly identifies their gender or chosen name. Many people, including those in the broader LGBTQ+ population, have never thought about what their lives would be like if they lacked accurate identity documents.
Having accurate identity documents is essential for so many aspects of everyday life – applying for school or a job, finding a place to live, exercising the right to vote and boarding a plane. Presenting inaccurate identification in these situations can subject transgender individuals to unfair discrimination and harassment. But correcting name and gender markers on identity documents can be complicated, expensive, time-consuming, and in some cases, impossible.
The U.S. State Department has adopted one of the most simple and progressive policies for correcting gender markers in the world. Since June 2021, medical certification is not required to change the gender marker in one’s passport. Transgender people should consider updating their U.S. Passport book or card immediately and use that document as primary identification. Passport books and cards are valid for 10 years, even if policies change during that time.
Credit issues are common for trans community
Transgender individuals who are able to successfully obtain new identity documents still frequently face credit issues. Unlike changes to one’s last name after a marriage or divorce, informing banks or other creditors of a change to one’s first name on accounts does not automatically cause credit reporting agencies to update that person’s credit file. The credit reporting system can often be problematic for transgender people after a name change, with many reporting that credit files are never updated or that their credit scores decline.
This can create a cascading effect in numerous areas of one’s financial life, and it goes beyond borrowing. Credit files are frequently checked in employment decisions, pricing insurance, establishing utility and phone service and applying to rent a home.
Until policies change, transgender individuals should directly contact each creditor and credit reporting agency and follow each organization’s specific procedures and documentation requests. And they should carefully monitor that the changes are actually made and do not result in a credit score change.
Emergency and end-of-life documents should be carefully reviewed
Transgender people often have special health care needs and face unique forms of disparate treatment in accessing care, and cannot speak for themselves in these circumstances. End-of-life planning is often difficult to think about, but it’s especially critical that this community works with their attorneys and trusted advisors to create customized emergency and end-of-life legal documents.
The people named in these documents who could become decision-makers – typically trusted friends or supportive family members – should be empowered to direct health care providers to meet the patient’s wishes and preserve their chosen name and gender identity, as well as service providers, such as funeral home employees, to honor the deceased’s wishes about their appearance during memorial services.
The laws for these documents are complicated, and they vary depending on the state or territory. If possible, these documents should be prepared by experienced attorneys who routinely work with members of the LGBTQ+ community.
The bottom line
Transgender individuals in the United States face unique financial, legal and estate planning challenges that create roadblocks in their journey to living an authentic life. Careful planning can help mitigate some, but not all, of these obstacles.
JPMorgan Chase & Co., its affiliates, and employees do not provide tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any financial transaction. J.P. Morgan Wealth Management is a business of JPMorgan Chase & Co., which offers investment products and services through J.P. Morgan Securities LLC (JPMS), a registered broker-dealer and investment adviser, member FINRA and SIPC.
Joseph Hahn is executive director of Wealth Planning & Advice at J.P. Morgan Wealth Management.
Opinions
Community comes together to repair WorldPride history exhibition
Vandals damaged pictures, timeline walls on June 22

Earlier this month, vandals shouting homophobic slurs damaged the 8-foot hero cubes and timeline walls of the Rainbow History Project’s (RHP) WorldPride exhibition “Pickets, Protests, and Parades: The History of Gay Pride in Washington.” The week’s incident was the fifth homophobic attack on the exhibition chronicling DC’s LGBTQ+ History, the vandalism damage was only made worse by the storms this past week.
In response, RHP posted a call online for volunteers and donations and over a dozen volunteers showed up on Saturday to repair the exhibition in its final stretch.
It took three hours, but the group assembled during a heat advisory to bend the fences back into place, fix the cubes and zip tie all the materials together to keep them safe. Some of those who came out to volunteer, Slatt said, were known RHP volunteers but most were total strangers who had attended an event here or there or just wanted to get involved for the first time, one was even in D.C. as an out-of-town guest and after seeing the Instagram call, decided to spend their day lifting some heavy fencing back into place.
When asked why they showed up, volunteer Abbey said: “especially during Pride month, it’s so important to come together as a community, not just to celebrate, but to support each other. To know that this historic exhibit is even able to exist right now under this administration is really amazing. The fact that we’re just able to help continue it in its last leg of being out here is really important.”
“Rainbow History Project does a lot of work for the community,” another volunteer Ellie said, “they show up in a lot of ways that I think we really need right now, so in terms of being asked to come out and do a couple hours of lifting, that is something that we can easily support and do.”
“We put out a call asking for support from the community, and so we didn’t know what we’d get,” Slatt continued, “but strangers have shown up. We were upset, we were crying. We were trying to come up with a battle plan and more and more people have shown up with open arms and empty hands to do this. It’s 95 degrees, we are melting in the heat. It’s just amazing the number of people who have come here.”
If anything, the anonymous exhibit designer said, the people who vandalized the exhibit made the community stronger and mobilized members passionate about preserving and sharing our histories. Their efforts backfired in a big way — bringing together people who had only attended one or two RHP events or had read about the organization online to actively contribute to the work.
It’s a meaningful representation of the history of D.C.’s LGBTQ+ community, one that often starts with a small group of people who come together to protest but soon mobilize their communities and enact monumental change in the nation’s capital.
“If Pride in D.C. started with 10 people picketing the White House,” Slatt remarked, “you just got 12 more to join the gay history movement.”
This was especially poignant, another volunteer Mattie said, on the week that the Supreme Court issued a decision allowing Tennessee to ban puberty blockers and hormone therapy for minors seeking gender affirming care. It was a devastating moment for the LGBTQ+ community who mobilized once more in front of the Supreme Court this past Friday.
“It’s been actually really important to see this community come together in the face of direct attack on our history in the wake of direct attacks on our rights,” Mattie said, “and we stand up to that. We come together, and we represent. That is so important to maintaining our strength and our community throughout trying times now and ahead.”
When asked about how community members can support RHP’s work and repair the damage long-term to the exhibit, Slatt urged people to donate to RHP, to volunteer as exhibit monitors, and to come visit the exhibit.
“We’ve been doing this for 25 years. This is our 25th anniversary, and if it weren’t for volunteers donating their time and their talents, if it weren’t for small dollar donors, we would never have gotten anything done,” Slatt said. “I’d say to anyone out there that we are on this plaza all through Independence weekend, we are here through the Smithsonian Folklife Festival, people can come on down.”
Slatt and other volunteers will be leading tours each evening at 7 p.m. at Freedom Plaza, and people can pre-order the exhibition catalog right now, which will be delivered in time for LGBTQ+ History Month in October.
Emma Cieslik is a D.C.-based museum worker and public historian.

Independence Day, commonly known as the Fourth of July, is a federal holiday commemorating the ratification of the Declaration of Independence by the Second Continental Congress on July 4, 1776, establishing the United States of America. The delegates of the Second Continental Congress declared the 13 colonies are no longer subject (and subordinate) to the monarch of Britain, King George III and were now united, free, and independent states. The Congress voted to approve independence by passing the Lee resolution on July 2, and adopted the Declaration of Independence two days later, on July 4.
Today we have a felon in the White House, who wants to be a king, and doesn’t know what the Declaration of Independence means. Each day we see more erosion of what our country has fought to stand for over the years. We began with a country run by white men, where slavery was accepted, and where women weren’t included in our constitution, or allowed to vote. We have come far, and next year will celebrate 250 years. Slowly, but surely, we have moved forward. That is until Nov. 5, 2024, when the nation elected the felon who now sits in the Oval Office.
There are some who say they didn’t know what he would do when they voted for him. They are the ones who were either fooled, believing his lies, or just weren’t smart enough to read the blueprint which laid out what he would do, Project 2025. It is there for everyone to see. There should be no surprise at what he is doing to the country, and the world. Last Friday his Supreme Court, and yes, it is his, the three people he had confirmed in his first term, gave him permission to be the king he wants to be. The kind of king our Declaration of Independence said we were renouncing. A man who with the stroke of a pen can ruin thousands of lives, and change the course of America’s future. A man who has set back our country by decades, in just a few months.
So, I understand why many are suggesting there is nothing to celebrate this Fourth of July. How do we have parties, and fireworks, celebrating the 249th year of our independence when so many are being sidelined and harmed by the felon and his MAGA sycophants in the Congress, and on the Supreme Court. Yes, there are those celebrating all he is doing. Those who want to pretend transgender people don’t exist, and put their lives in danger; those who think it’s alright to take away a women’s right to control her body, and her healthcare; those who think parents should be able to interfere on a daily basis with their children’s schooling and wipe out the existence of gay people for them. Those who pretend there was a mandate in the last election, when it was only won by about 1 percent. Those who think disparaging veterans, firing them, and taking away their healthcare, is ok. Those in the LGBTQ community like Log Cabin Republicans, who think supporting a racist, sexist, homophobe is the right thing to do.
So, what do we, as decent caring people, do this Fourth of July. What do we say to those who are being harmed as we celebrate. What do we say to those trans people, those women, those immigrants who came here to escape their own dictators, and are now finding they have come to a country with its own would-be dictator. I say to them, please don’t give up on America. Don’t give up on the possibility decent loving people in our country will finally wake up and say, “enough.” That the majority of Americans will remember we fought a revolution to escape a king, and we fought a civil war to end slavery. That we moved forward and gave women the right to vote, and gave the LGBTQ community the right to marry. Don’t give up on the people that did all that, and think they won’t rise up again, and tell the felon, racist, homophobe, misogynist, found liable for sexual assault, now in the White House, and his sycophants in congress, and his cult, that we will take back our country in the 2026 midterm elections. That we will vote in large numbers, and demand our freedom from the tyranny that he is foisting on our country.
So yes, I will celebrate this Fourth of July not for what is happening in our country today, but rather for what our country actually stands for. Not for birthday parades, and abandonment of the heroes in Ukraine in support of dictators like Putin. But for the belief the decent people in our country will rise up and vote. That is what I will celebrate and pray for this Fourth of July. That is what I think the fireworks will mean this July Fourth. I refuse to accept defeat the same way our revolutionary soldiers wouldn’t, and the way our troops in the civil war wouldn’t till the confederacy was defeated.
I will celebrate this Fourth of July because I refuse to accept we will not defeat those who would destroy our beautiful country, and what it really stands for.
Peter Rosenstein is a longtime LGBTQ rights and Democratic Party activist.
Opinions
Is it time for DC to have new congressional representation?
Del. Eleanor Holmes Norton will turn 89 in June

With WorldPride, Supreme Court decisions, military parades in our streets, mayor and City Council discussions about a new football stadium, it is entirely understandable if we missed the real local political story for our future in the halls of Congress. Starting this past May, the whispered longtime discussions about the city’s representation in Congress broke out. Stories in Mother Jones, Reddit, Politico, Axios, NBC News, the New York Times, and even the Washington Post have raised the question of time for a change after so many years. A little background for those who may not be longtime residents is definitely necessary.
Since the passage of the 1973 District of Columbia Home Rule Act, we District residents have had only two people represent us in Congress, Walter Fauntroy and Eleanor Holmes Norton, who was first elected in 1990 after Mr. Fauntroy decided to run for mayor of our nation’s capital city.
No one can deny Mrs. Norton’s love and devotion for the District. Without the right to vote for legislation except in committee, she has labored hard and often times very loud to protect us from congressional interference and has successfully passed District of Columbia statehood twice in the House of Representatives, only to see the efforts fail in the U.S. Senate where our representation is nonexistent.
However, the question must be asked: Is it time for a new person to accept the challenges of working with fellow Democrats and even with Republicans who look for any opportunity to harm our city? Let us remember that the GOP House stripped away millions of OUR dollars from the D.C. budget, trashed needle exchange programs, attacked reproductive freedoms, interfered with our gun laws at a moment’s notice, and recently have even proposed returning the District to Maryland, which does not want us, or simply abolishing the mayor and City Council and returning to the old days of three commissioners or the very silly proposal to change the name of our Metro system to honor you know you.
Mrs. Norton will be 89 years old next year around the time of the June 2026 primary and advising us she is running for another two-year term. Besides her position there will be other major elected city positions to vote for, namely mayor, several City Council members and Board of Education, the district attorney and the ANC. Voting for a change must not be taken as an insult to her. It should be raised and praised as an immense thank you from our LGBTQ+ community to Mrs. Norton for her many years of service not only as our voice in Congress but must include her chairing the Equal Employment Opportunity Commission, her time at the ACLU, teaching constitutional law at Georgetown University Law School, and her role in the 1963 March on Washington.
Personally, I am hoping she will accept all the accolades which will come her way. Her service can continue by becoming the mentor/tutor to her replacement. It is time!
John Klenert is a longtime D.C. resident and member of the DC Vote and LGBTQ+ Victory Fund Campaign boards of directors.