Course Details

Advanced Estate Plan Challenges For Second Marriages: QTIPs, Unitrusts, Disclaimers And More

Webinar: ID# 1026211
Recorded CD or On-Demand
About This Course:
This CLE/CPE webinar will provide estate planning counsel with a deep and practical guide to estate planning challenges involved in second (or subsequent) marriages. The panel will offer specific guidance on structuring spousal trusts, ensuring premarital and joint property is titled to avoid probate or beneficiary challenges, and ensuring that estate planning vehicles incorporate prenuptial and postnuptial agreements.

Among the greatest challenges for estate planners involves planning for clients in a second or subsequent marriage. The intricacies increase when one or both spouses have children from prior marriages and in situations where age or premarital assets vary greatly between the spouses. Critical to designing an estate plan is achieving a balance between providing for the surviving spouse and either party’s desire to pass premarital assets to pre-marriage children.

Because of the issues unique to subsequent marriages, many ownership structures and asset titling strategies common to first marriage estate plans may not be appropriate for second marriages. Joint tenancy property can trigger more complex probate and, in some cases, tax issues for clients in second marriages.

Planners must understand the advantages and limitations of trusts such as qualified terminable interest property (QTIP) trusts as a means of providing for a surviving spouse while preserving assets for children or other beneficiaries.

Additionally, estate planning counsel must structure testamentary and trust documents to shield against beneficiary challenges, which are more likely when children from prior marriages are involved. Estate planners should know the impact of in terrorem clauses in wills and trust operating documents, as well as structuring powers of appointment to preserve the client’s intent.

Listen as our experienced panel provides a thorough and practical guide to the technical aspects of designing and implementing estate plans for second marriages and blended families.

Course Outline
  • Estate planning challenges unique to clients in second marriages or with blended families
  • Impact of prenuptial and postnuptial agreements on estate plans
  • Balancing maintenance of surviving spouse with desire to pass on premarital assets to children or other beneficiaries
  • Trust structuring
  • Protecting against beneficiary challenges

The panel will review these and other key issues:
  • What marital deduction transfers are available to provide for surviving spouses while preserving assets for children from prior marriages?
  • What are the advantages and limitations of QTIP trusts?
  • What mechanisms must estate planners be aware of to protect estate plans involving blended families from beneficiary challenges?
  • Structuring unitrusts for clients with blended families
Learning Objectives

After completing this course, you will be able to:
  • Identify trust and transfer vehicles suitable to provide maintenance for a surviving spouse while preserving assets for children from prior marriages
  • Recognize the impact of ownership in joint tenancy on estate plans involving second or successor spouses and blended families
  • Determine strategies for structuring will and trust documents to protect against beneficiary challenges
  • Discern how disclaimers and powers of appointment can be used in estate plans involving blended families
How To Access Course And Materials

Handout materials and the phone number for live presentations are made available to you one day prior to the event via email from the presenter. Copies of the presentations are included with recorded versions.

If you order a recorded version of the webinar, CDs will be mailed out approximately 10 days after the live event. Shipping is included in the price of recorded versions.

Continuing Education Credits Available

This program has been approved for 2.0 CPE hours through Strafford Publications. To obtain CPE credit, attendees must participate in the live event (recorded versions do not qualify for credit), return an Official Record of Attendance to Strafford affirming their participation (including the CPE code announced during the program), and pay a processing fee of $35 per person.

Strafford will mail a certificate of credit within approximately two weeks of receiving your completed Official Record of Attendance, provided all required conditions have been satisfied.

Strafford 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.
Advanced Estate Plan Challenges For Second Marriages: QTIPs, Unitrusts, Disclaimers And More
or via CD or On-Demand
Course Details
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