Drafting Trusts for a Surviving Spouse in InterActive Legal

Friday, February 26, 2021, 12pm ET/9am PT

Presenter: Teresa L. Bush, Esq.

Duration: 1hr

Cost: Complimentary for InterActive LegalSuite Subscribers

Married clients often want to leave their property to their spouse at death, and that is understandable. In many cases, the spouses earned, purchased, and/or developed the property they own together, so it makes sense to leave all property to the survivor. In addition, it makes the estate plan much simpler. However in some cases, a trust is recommended for a variety of reasons:

• To protect property for children from a prior marriage

• To provide for management of property for a spouse who may not want to be the decision-maker

• To protect property from the spouse’s potential creditors

• To shelter property from Medicaid estate recovery

• To allow for efficient estate tax planning

Any one or more of these can change the estate plan so that the draftsperson must consider what type of trust to include for the surviving spouse.

In this subscriber drafting webinar, we will review the types of trusts that can be created for a surviving spouse, including trusts that qualify for the marital deduction (and therefore the step-up in basis at the survivor’s death), discretionary “sprinkle” trusts for the spouse and family, credit-shelter trusts, supplemental needs trusts, and trusts for retirement assets. We will cover how to trigger each of these trusts in the various practice systems, as well as the options for designing each type of trust within Wills, Revocable Trusts, and Joint Revocable Trusts. We’ll also briefly review inter vivos trusts for spouses (sometimes called “SLATs”), and how to draft them in your InterActive Legal program.

This webinar is appropriate for and will discuss drafting in all InterActive Legal practice systems.

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