For Richer or For Poorer: Dodging Pitfalls with Non-Traditional Estate Planning Clients
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Learn how to handle the estate planning needs of same-sex and non-married couples with ease.
Recent changes regarding the recognition of same-sex couples, competing state and federal laws, along with the ever changing income, gift and estate planning laws, especially by state for same-sex spouses, make it critical to know how these factors impact lawyers, accountants, financial planners and other advisers who represent them and non-married couples. Not knowing the many pitfalls involved is a trap for the unwary. This live webinar explores the changing laws and areas of concern in a practical manner for advisers representing same-sex spouses and non-married couples for their estate planning needs.
Speaker: Vincent A. Liberti, Jr.
Course Content
| Who Are Nontraditional Clients? |
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- Classifications
- Additional Issues for Same-Sex Couples
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Prevailing Legal Status of Same-Sex Marriages |
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- Federal Defense of Marriage Act
- State Recognition
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Issues With Difference in Tax Treatment Given State Domicile |
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- States With Their Own Estate Taxes
- Doubling Exemption Given State of Domicile
- An Eye Toward Income Tax Issues
- Estate Planning Differences: Married Couples vs. Non-Married Couples
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Ensure a Basic Plan Is in Place to Avoid Reliance on Default Laws |
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- Default Laws
- Last Will and Testament
- Revocable Trusts
- Transfers by Beneficiary Designation and POD/TOD
- Durable Power of Attorney (Financial Powers)
- Advance Health Care Directive (Medical Powers)
- Life Insurance Trusts
- Personal Residence Trusts – Advantages for Non-Married Partners
- Other Agreements/Arrangements
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Other Issues of Concern |
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- Gift Taxes
- Generation Skipping Transfer Tax (GSTT)
- Social Security Benefits
- Marital Legal Obligations
- Terminating the Relationship
- Transfer Tax Issues
- Medicaid Planning
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