"What this does is it levels state law with federal law," said Matthew McClintock, an estate lawyer and vice president of education for WealthCounsel.
Same-sex couples will now enjoy the same benefits—and sometimes downsides—of marriage that all other couples get, McClintock said.
Here are some financial issues that will be impacted by the decision:
Estate planning. The biggest outcome of the victory say estate attorneys is that same-sex married couples now have the same legal rights of spouses. They have the right to inherit property from their spouse even without a will, the right to adopt children together and make medical decisions on the part of a spouse.
Same-sex couples won't need to jump through hoops to take care of common financial and estate issues, said certified financial planner Nan Bailey of NPB Wealth Management.
"Rather than focus on 'work arounds' for rights and protections, the focus shifts to looking at [whether] there are any benefits that a spouse or child would be entitled to if this couple had been able to marry earlier," she said.
"For wealthy families, they get all the estate tax benefits," said Janis Cowhey, a lawyer and tax expert with Marcum's modern family and LGBT services practice group. "For couples of not significant wealth, this is more about protections."
When one spouse dies, all assets pass to the surviving spouse tax-free. But when couples were unable to marry and had estates of more than $5.34 million, the surviving partner had to pay the estate tax. Now gay and lesbian couples will receive the tax-free transfer.