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Trust and Estate Planning for Second Marriages

April 13, 2021 @ 12:00 pm - 1:00 pm

Second marriages pose a wide range of planning challenges.  Planning for the equitable distribution of property in “blended” families – children or grandchildren from a prior marriage, a second spouse, and perhaps children from the second 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 to destructive fiduciary litigation. This program will provide you with a guide to the practical, substantive and tax aspects of planning for clients with second marriages and blended families.

Handout Materials will be emailed to you prior to the seminar
$60.00
1.0 MCLE Credit Hour

Schedule:

  • 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 branch 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”

Speakers:

Michael Sneeringer, Porter Wright Morris & Arthur LLP – Naples, Florida

Missia H. Vaselaney, Taft, Stettinius & Hollister, LLP – Cleveland