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March 20 @ 10:00 am - 11:00 am$65
Second marriages give rise to a wide range of planning challenges. Planning for the equitable distribution of property in “blended” families—a second spouse, children or grandchildren from a prior marriage, and perhaps children from the second or subsequent marriage—is fraught with legal and emotional landmines well beyond customary tax planning. Failure to carefully consider objectives and consequences and to communicate and execute plans can easily leave a client’s estate exposed to open and raw disputes among competing heirs and eventually lead to destructive fiduciary litigation. This program provides you with a guide to the practical, substantive, and tax aspects of planning for clients with second marriages and blended families.
- Understanding the emotional context of planning for remarried clients and blended families
- Use of pre-martial agreements to spot contentious issues, align interests, and decrease post-mortem litigation
- Income-tax planning issues for the second marriage, including exemptions and credits
- Use of trusts and gifting to prevent unjust enrichment of one component of a blended family
- Traps and opportunities with retirement benefits
- Post-mortem planning techniques when the first spouse dies – and issues on the “second death”
1 Practical Skills or General CLE credit