There are many ways to provide for a married client’s surviving spouse after the client’s death. This type of estate planning is often referred to as marital share funding. Spouses may use various marital share funding options in either will- or trust-based estate plans. Their goals may include estate tax planning, probate avoidance (especially when using a trust-based plan), and incapacity planning. Disclaimers can be used when planning for estate taxes and may be particularly helpful in other situations relevant to married clients. 

As we prepare to welcome the new year, it is an ideal opportunity to reflect on your estate planning practice. Take a moment to evaluate the successes and challenges of the past year and identify any goals you did not meet. Now is the time to set new goals for your practice and yourself. The close of the year often sparks anticipation for the possibilities ahead, including the chance to engage with new clients. Many individuals set a New Year’s resolution to initiate or revise their estate plans, and they are looking forward to connecting with an estate planning attorney. 

In the course of a trust administration, beneficiaries primarily want to know what will be distributed to them and when it will be distributed. Attorneys who represent trustees, however, must prevent trust distributions until the proper time—that is, until all liabilities have been paid or reasonably accounted for with a reserve. Otherwise, a trustee may face personal liability and need to seek indemnity from beneficiaries who may have already spent the funds distributed to them. In a postdeath administration, there may be trust and nontrust liabilities (or the decedent’s liabilities), including the decedent’s debts and various taxes. In addition, a trustee must pay the expenses of the administration or reserve funds for payment of those expenses.