
Postmortem Planning to Fix Missed Opportunities
Estate "planning" usually involves proactively putting one's affairs in order during one's lifetime. Sometimes, however, and for various reasons - whether neglect or lack of time to make proper arrangements - a person dies without having created an appropriate estate plan.
All may not be lost, even in these situations. Estate planning also includes postmortem planning, which, as the name suggests, can be done after a person dies. There are various techniques available to help fix missed planning opportunities, or bad planning. The most common of these is to have the spouse (or other family members) disclaim an interest that would otherwise pass to them from the decedent's estate. Funding discretionary trusts, including QTIP trusts, is another method.
This webinar will discuss the various postmortem planning techniques available, how they work, and the situations in which they could be beneficial.
Practitioners will learn:
- About situations in which a certain estate plan may have been dictated, but either no planning, or bad planning, was done instead.
- What a disclaimer is.
- The requirements for a disclaimer to be considered valid.
- Instances in which a disclaimer should be used and how it could result in a more beneficial result than not disclaiming assets.
- How funding discretionary trusts could also be an effective postmortem planning technique.
Presented by: Mark A. Bregman
CLE: 1.0 general credit
Approved States: CA, CO, FL, GA, IL, NJ, NV, NY, OK, PA, TN, TX, UT, VT
(AK, AZ, CT, MO, ND, NH eligible to claim credit.)
We will supply you with the information needed to apply in other states.
Contact shopcle@wealthcounsel.com for CLE assistance.
WealthCounsel members: This CLE eligible program may be complimentary for WealthCounsel members, depending upon their subscription bundle. Please access and view it here via the member website for optimal experience and inclusion in your CLE Profile Account.