Older LGBTQ individuals may face unique financial challenges as they age, which could result in lost opportunities, poor decisions and financial loss for one or both of the same-sex partners. Some of the documents to be considered include:Elder Financial AbuseAnother financial issue older LGBTQ couples need to address: their potential as targets for elder financial abuse. Since LGBTQ retirement communities are only just emerging, older LGBTQ adults tend to live more in isolation than others, lacking a non-discriminatory and supportive network. Older LGBTQ couples should give their financial institutions the name of an emergency contact and keep their financial documents in a safe place where a trusted person knows how to find them. This could be the case if an older LGBTQ person was previously in a traditional marriage that lasted 10 years or longer.

Source: Forbes June 23, 2019 10:52 UTC