History was made on Wednesday (6/26) when the Supreme Court finally ruled that the 1996 Defence of Marriage Act (DOMA) was unconstitutional because it denied married same-sex couples the same benefits that married heterosexual couples enjoy and receive. While this is surely a victory for same sex couples when it comes to love and equality, it’s also beneficial financially for many of them.

Here are just some of the key changes that are in motion:

• Income Tax: married same-sex couples now have the ability to file their federal taxes jointly. This change could end up saving same-sex couples thousands.
• Gift Tax: married same-sex couples will now be exempt from gift tax when transferring assets to each other.
• Death Benefits: same-sex couples are now eligible for the same federal tax treatment and Social Security benefits as heterosexual couples if one of them passes away:
  

  This means a surviving spouse will be eligible for Social Security survivors benefits and will be exempt from the 40% federal estate tax on assets exceeding $5.25 million.

• Health Insurance: before, some same-sex couples had to pay extra income tax on the medical benefits one partner received through the other’s health insurance plan. Now that DOMA has been deemed unconstitutional, this will no longer happen. In the case of the Emery-Blacks (a same-sex married couple in California), they’ll save at least $1,000 in income tax each year by not having to pay these taxes on spousal benefits.

Read more about this historic ruling over at CNN Money’s Same-sex marriage ruling: Financial impact.