Estate planning with respect to divorce

Article Abstract:

Divorce poses special issues for estate planners, who must advise clients on decree provisions regarding support, interspousal transfers of principal residence or other property, and allocation of income tax attributes. Estate planners should also advise clients considering remarriage regarding the use of premarital, trust, or partnership agreements. Clients seeking a divorce should review wills or living trust documents, determine if estate fiduciary and beneficiary designations require changes, and make pertinent decisions on gift giving, marital property transfers, and nonmarital property.

Planning, Divorce, Divorce settlements

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Planning strategies when a client's death is imminent

Article Abstract:

Estate planning for a client whose death is imminent can prove beneficial to the client and their estate. If possible, the estate planner should ask whether the client's wishes regarding distribution are current, does the plan account for the clients current financial status, are the fiduciary designations to continue, are plan documents effective under the laws in question and the impact of state and federal tax law on the estate. Several tax benefits accrue if donations or bequests are made while the client is still living.

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Estate planning specifically for the single parent

Article Abstract:

Single parents may benefit from estate planning techniques specifically tailored to their needs. Family status results in several differences in treatment of tax and nontax transactions. Trusts are particularly valuable planning tools for single parents who may use them to plan for directing their wealth during disability or after death. Trusts are also useful for aiding in the current and future care of disabled children.

United States, Estate Planning, Finance, Single parents

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