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Estate Planning › Trusts › Spouses

Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the... more +
Estate Planning is a process where individuals prepare or plan for the settlement of their personal affairs in the event of incapacitation or death. Estate plans typically include provisions relating to the disposition of assets, guardianship of minor children, and appointment of representatives to make medical and financial decisions. Effective estate planning can decrease tax liability and facilitate the probate process.  less -
Brooks Pierce

Changing Laws Present Unique Estate Planning Opportunities for Married Couples

Brooks Pierce on

Today’s federal estate and gift tax laws may be remembered as the most generous to wealthy families since the Great Depression. The 2017 Tax Cuts and Jobs Act (TCJA) doubled the federal estate, gift, and generation skipping...more

Bowditch & Dewey

Remember to Adjust Your Estate Plan During or After a Divorce

Bowditch & Dewey on

Married couples often have wills naming one another as their primary beneficiary. People also often name their spouse as beneficiary of retirement accounts and life insurance policies. Upon commencing a divorce action,...more

Ward and Smith, P.A.

Can You Feel the Love Tonight? Estate Planning for Couples

Ward and Smith, P.A. on

Let's be honest.  Legal documents are not written in anyone's love language.  On Valentines Day, we undoubtedly would prefer to exchange thoughtful presents, enjoy an intimate meal with our significant other, or blush at the...more

Winstead PC

Court Reverses Summary Judgments On The Alleged Exercise Of A Power Of Appointment, Disclaimer, And The Statute Of Limitations

Winstead PC on

In In re Estate of Wells, No. 12-23-00066-CV, 2023 Tex. App. LEXIS 8475 (Tex. App.—Tyler November 8, 2023, no pet. history). The testator left a will that created a trust for his wife and descendants, named his wife as the...more

Winstead PC

Colorado Case Holds That A Beneficiary’s Lifestyle Is Judged At The Time That The Settlor Dies Or When The Trust Becomes...

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In Reece Trust v. Reece, a husband created a trust for his wife, and they then began divorce proceedings. No. 22CA1393, 2023 COA 89, 2023 Colo. App. LEXIS 1456 (Colo. App. September 28, 2023)....more

Stark & Stark

The Crucial Importance of Updating Documents After Divorce

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Divorce can be a challenging and emotionally draining experience, leaving individuals with numerous legal and personal matters to resolve. Amidst all the turmoil, it is vital for people to understand the significance of...more

Kerr Russell

Recently Married? Consider These Steps To Protect Your Future

Kerr Russell on

In Michigan, the process for an individual to take their spouse’s last name is fairly simple, but does require taking action with both the Social Security Administration (SSA) and Michigan Secretary of State. The first...more

Rivkin Radler LLP

Transferee Liability for Estate Tax: The Downside of Being a Beneficiary

Rivkin Radler LLP on

Death of a Parent- In the context of a family-owned business, it is often the case that the matriarch or patriarch of the family is also the chief executive of the business. They may have founded the business, or they may...more

Lowenstein Sandler LLP

The Sad Tale of Hubby and Lovey: Preparing One’s Estate for the Possibility of Divorce

Lowenstein Sandler LLP on

In this episode of “Splitting Heirs,” Warren K. Racusin, partner and Chair of Lowenstein’s Trusts & Estates practice, speaks with Sharon L. Klein, EVP, President - Family Wealth, Eastern U.S. Region & Head of National Divorce...more

McGuireWoods LLP

Once Removed Episode 12: SLATs and the Case of McKim vs. McKim

McGuireWoods LLP on

Steve Murphy, chair of the private wealth services group, dives deeper into the subject of SLATs in this episode. SLATs can work well with estate tax benefits and creditor protection benefits, all while giving the spouse...more

McGuireWoods LLP

Once Removed Episode 11: Spousal Lifetime Access Trusts, or SLATs

McGuireWoods LLP on

Steve Murphy, chair of the private wealth services practice group at McGuireWoods, discusses the Spousal Lifetime Access Trust, also known as the SLAT. Steve explains the rights that your spouse can have in this trust through...more

Bowditch & Dewey

Beyond Taxes: 10 Important Reasons Why Everyone Needs an Estate Plan

Bowditch & Dewey on

People often assume that if their estate isn’t taxable, they don’t need to have an estate plan. In 2023, a Massachusetts estate tax return must be filed if the value of the deceased person’s gross estate exceeds $1 million. A...more

Winstead PC

Trust Issues in Divorce Proceedings - Presentation - May 2023

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David F. Johnson presented to the Tarrant County Probate Bar Association on May 4, 2023, on the topic of “Trust Issues in Divorce Proceedings.” This program discussed some of the many trust issues that arise in divorce...more

Adler Pollock & Sheehan P.C.

Estate Planning Pitfall: You Haven’t Coordinated Beneficiary Designations With Your Will

Adler Pollock & Sheehan P.C. on

Perhaps you drafted your will years ago and it references many of your existing assets, including retirement plan accounts and life insurance policies. But you also have paperwork on file with the applicable financial...more

Burns & Levinson LLP

Capacity and Estate Planning: What You Need to Know

Burns & Levinson LLP on

As our loved ones get older, we want to ensure that they have planned for their future. This often means having an estate plan in place to handle the distributions of their assets upon their passing or to plan for their...more

Shumaker, Loop & Kendrick, LLP

The Estate Planner, September/October 2022

Shumaker, Loop & Kendrick, LLP on

Estate planning for the happily married - Hedge your bets with a SLAT One of the biggest challenges of estate planning is dealing with uncertainty. For 2022, for example, the federal gift and estate tax exemption is $12.06...more

Adler Pollock & Sheehan P.C.

QTIP Trust: Strange Name, Powerful Trust

Adler Pollock & Sheehan P.C. on

Granted, a QTIP trust is an odd sounding name for an estate planning technique. Nevertheless, it can be a valuable strategy, especially if you’re currently in a second marriage. The QTIP moniker is an acronym for the...more

Winstead PC

[Webinar] Financial Services - Trust Issues In Divorce Proceedings - May 24th, 10:00 am - 11:00 am CT

Winstead PC on

This presentation covers trust issues that arise in divorce disputes, such as spouses creating an irrevocable trust, fraud claims to void a trust, conflict of interest issues raised by the same attorney drafting both spouse’s...more

Winstead PC

Trust Issues In Divorce Proceedings - Presentation

Winstead PC on

David F. Johnson presented “Trust Issues In Divorce Proceedings” on November 17, 2021. This presentation covered trust issues that arise in divorce disputes, such as spouses creating an irrevocable trust, fraud claims to void...more

Winstead PC

Court Holds That Trust Owned Mineral Interests And Not The Settlor’s Wife

Winstead PC on

In Moore v. Estate of Moore, a decedent’s wife claimed that she had an interest in an oil and gas lease formerly owned by her deceased husband. No. 07-20-00019-CV, 2021 Tex. App. LEXIS 6142 (Tex. App.—Amarillo July 30, 2021,...more

Ruder Ware

Protecting Your Inheritance

Ruder Ware on

So you’ve received an inheritance and you’re married. The person who left you the inheritance probably intended for it to benefit you, not your spouse, if you get divorced. How do you protect the inheritance?...more

Woods Rogers

Estate Planning for Married Couples and Parents

Woods Rogers on

In this two-part series, the articles focus on the importance of proper estate planning.  The previous article focused on Estate Planning for Young Adults. This article will highlight important documents and considerations...more

Ward and Smith, P.A.

Yours, Mine, and Ours: Estate Planning for Blended Families

Ward and Smith, P.A. on

According to recent statistics, four out of every ten families are blended families. As you might expect, estate planning for blended families is often complicated. Proper planning requires not only careful financial and...more

Winstead PC

Court Held That The Term “Spouse” In A Trust Meant The Primary Beneficiary’s Wife At The Time Of The Trust’s Execution And Not A...

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In Ochse v. Ochse, a mother created a trust that provided that the trustee was authorized to make distributions to her son and the son’s spouse. No. 04-20-00035-CV, 2020 Tex. App. LEXIS 8922 (Tex. App.—San Antonio November...more

Shutts & Bowen LLP

The Importance of Regular Check-ups for a Healthy Estate Plan

Shutts & Bowen LLP on

After creating and implementing a plan for your estate, it is important to regularly revisit your plan to ensure that it is still reflective of your values and goals for passing along your legacy. Seemingly small changes in...more

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