Dividing assets after a divorce is rarely an easy, straightforward process. This is especially true when clients split up late in life. During marriage, asset ownership often becomes intertwined – or commingled – resulting in shared ownership of most of the couple’s property. If the marriage ends, untangling that property can be a real challenge.

Estate planning professionals who are working with divorcing couples or clients who are moving on to a second marriage have an important part to play in ensuring the fair and accurate division of assets. They can also provide great value to clients by helping them update their estate plans to protect them from unintended consequences, assuring their wishes will be honored when they die.

On June 26, 2015 the United States Supreme Court issued its opinion in Obergefell v. Hodges, the name assigned to a series of consolidated cases on same-sex marriage rights. The Court ruled 5-4 in favor of the petitioners, holding that same-sex married couples are entitled to equal protection under the laws, and that their marriages must be recognized nationwide.

A coherent strategy for the transfer of assets is, of course, crucial to the success of any estate plan. But our best-laid plans will fall far short of expectations if the trusts we’ve so carefully drafted are never properly funded.

If the trust is the car, the funding is the fuel. Without gas in the tank, that beautiful sedan with the precision engine is just metal on four wheels. It’s not going anywhere. The same holds true for an estate plan. Until it’s properly funded, the “plan” is just a plan – a plan that can’t be executed. Like the car with the needle on empty, it’s not going to take you anywhere.