By, The Associated Press, taken from MSN.com

Surprising a spouse with a new car or an extravagant piece of jewelry is an expensive way to express affection, but at least there aren't tax consequences.

But gay couples, technically, should file a gift tax return -- gifts worth more than $12,000 come with tax consequences. So one could imagine the result if an individual decides to re-title a home or bank account, giving half to his or her domestic partner. These issues, which don't exist for the legally wed, are just the tip of the iceberg and underscore the importance of careful financial planning, whether you're filing your income taxes or planning for retirement and regardless of where you live. The same issues apply to unmarried heterosexual couples.

Same-sex couples need to keep in mind that even though domestic partnerships or civil unions are recognized by some states -- California, Vermont, Connecticut, New Jersey, Maine, and Hawaii -- and gay marriage is allowed in Massachusetts, you remain strangers in the eyes of the federal government. In fact, one financial planner points out that there are about 1,049 federal laws that benefit those allowed to take an official trip down the aisle.

"Any rights you would want to have as a married couple, you need to re-create in a legal document," says Todd G. Sears, a senior financial adviser who founded the LGBT (lesbian, gay, bisexual, and transgender) financial-services team at Merrill Lynch & Co.

That will require a lot of paper. Some of the documents needed and the terminology will vary from state to state, but here's a basic list that same-sex partners should have:

Wills and/or revocable living trusts and pour-over wills: Without a will or revocable trust, you risk having your assets pass to family members instead of your partner. It also allows you to name a guardian for minor children. A revocable living trust -- in which assets are titled to the trust and your trustee distributes your assets per your wishes after your death -- is considered more difficult to contest. A living trust also keeps your affairs private because it avoids probate, unlike a will, which becomes part of the public record. A living trust should be used with a pour-over will, which will cause any assets left out to "pour over" into the trust after you die.