Most people think of estate planning as something that, once done and in place, never has to be thought about again. That is far from the truth. Sometimes, having an outdated or obsolete estate plan is worse than not having one at all.
Practitioners should advise clients to revisit their estate plans periodically, as a matter of course, and always after a major life event. Such an event could be the birth of a child, a death in the family, a marriage, and certainly a divorce. Estate plans of married spouses typically include leaving the majority, if not the whole, of the estate to the surviving spouse. Generally, this is no longer desirable after a divorce.
Unfortunately, divorce attorneys often neglect to mention to their divorced and divorcing clients that they should reconsider (and likely revise) their existing estate plans. It is understandable how estate planning may fall to the wayside when clients are dealing with custody, property division, and other tense marital issues. But a plan that was drawn up when the couple was happily married is likely rendered obsolete by their subsequent divorce.
This webinar will explore the issues associated with divorce and how a couple's typical estate plan could be problematic in the event the spouses separate. The webinar will discuss the practical issues, as well as the potential tax concerns.
Practitioners will learn:
- How divorce essentially nullifies the typical spousal estate plan.
- The issues associated with divorce and why it is crucial that the parties revisit their existing estate plans.
- How certain interests in trusts are treated for division of property purposes in a divorce.
- How clients can protect their assets in the event of a divorce.
Program Knowledge Level: Intermediate
Delivery Method: Group Internet-Based
Recommended CPE Credit: 1.0 credit
Field of Study: Taxation
Prerequisites: JD
Advance Preparation: None
Review Date: 7/12/2018
1.0 CLE (California Board of Legal Specialization - Estate Planning)
1.0 CFP credit pending (National CFP Board)
For information on refunds, concerns, and program cancellation policies, please contact our offices at 888-659-4069, ext 823.
WealthCounsel LLC is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.
This webinar is included for Trusts & Estates and provided live complimentary for Business Law Subscribers
Regular Price: $139 | Trusts & Estates Price: $0 | Gun Law Price: $139 | Business Law Price: $0 (Recording not included) | Practice Development $0