Trust and Estate Planning Issues in Divorce

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Description

Martial separation and divorce are times fraught with emotion, but also fraught with financial decisions that have a major estate, trust and tax implications.

Transfers pursuant to divorce are generally tax-deferred. But there are many complications, including the transfer of property over time or where the value may not be known, the assumption of debts, the treatment of income held in trust, and also complex issues of beneficiary designations in retirement plans and insurance contracts.

If not properly planned, these transfers can have substantially adverse and often unanticipated consequences.

This program covers major issues in trust and estate planning for divorce.

Treatment of income from and property held in trust on divorce
Traps surrounding beneficiary designations on retirement benefits and insurance contracts
Opportunities for post-nuptial agreements to resolve lingering disputes
Issues related to the sale or transfer of personal residences
Income tax issues when property and debt are separated in divorce
Health care issues for children, including insurance for the divorcing spouse
Educational expenses for children over time

Contributors

Michael Sneeringer

Michael Sneeringer an attorney in the Naples, Florida office of Porter Wright Morris & Arthur LLP, where his practice focuses on trust and estate planning, probate administration, asset protection planning, and tax law. He has served as vice chair of the asset protection planning committee of the ABA's Real Property, Trust and Estate Section and is an official reporter of the Heckerling Institute. Mr. Sneeringer received his B.A. from Washington & Jefferson College, his J.D., cum laude, St. Thomas University School of Law, and his LL.M. from the University of Miami School of Law.

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Missia H. Vaselaney

Missia H. Vaselaney is a partner in the Cleveland office of Taft, Stettinius & Hollister, LLP, where her practice focuses on estate planning for individuals and businesses. She also represents clients before federal and state taxing authorities. Ms. Vaselaney is a member of the American Institute of Certified Public Accountants and has been a member of the Steering Committee for AICPA’s National Advanced Estate Planning Conference since 2001. Ms. Vaselaney received her B.A. from the University of Dayton and her J.D. from the Cleveland-Marshall College of Law.

Click here for more information about Missia.

Thank you

Description

Contributors

Michael Sneeringer

Missia H. Vaselaney