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-free. But there are many complications, including the transfer of property over time or where the value may not be known, the transfer and assumption of debts, the treatment of income held in trust, and also complex issues of beneficiary designations in retirement plans and insurance contracts. There are also issue related to health care choices, the sale or transfer of a personal residence and family businesses. If not properly planned, these transfers can have substantially adverse and often unanticipated consequences. Thus program will cover major estate, trust and income tax issues in property settlement negotiations, in the division of assets and debts, alimony and settlement payments, and more.
• Estate, trust and tax issues in martial separation and divorce
• Income tax issues when property and debt are separated in divorce
• Traps surrounding beneficiary designations on retirement benefits and insurance contracts
• Treatment of income form and property held in trust on divorce
• Opportunities for post-nuptial agreements to resolve lingering disputes
• Issues related to the sale or transfer of personal residences
• Health care issues for children, including insurance for the divorcing spouse
• Educational expenses for children over time
Jennifer A. Pratt is a partner in the Baltimore office of Venable, LLP, where she has assists client with estate planning, charitable giving, and estate and gift tax controversy matters. She has extensive experience with estate administration, the preparation of federal estate and gift tax returns, as well as fiduciary income tax returns. Earlier in her career, she worked with a major national bank and has particular expertise in adapting financial products to the estate planning needs of clients. She has been named in the 2011 edition of “Maryland Super Lawyers Rising Stars Edition.” Ms. Pratt received he B.A., summa cum laude, from the University of Baltimore, her J.D., magna cum laude, from the University of Baltimore School of Law, and her LL.M. in taxation from the University of Baltimore.
Blanche Lark Christerson is a managing director at Deutsche Bank Private Wealth Management in New York City, where she works with clients and their advisors to help develop estate, gift, tax, and wealth transfer planning strategies. Earlier in her career she was a vice president in the estate planning department of U.S. Trust Company. She also practiced law with Weil, Gotshal & Manges in New York City. Ms. Christerson is the author of the monthly newsletter “Tax Topics." She received her B.A. from Sarah Lawrence College, her J.D. from New York Law School and her LL.M. in taxation from New York University School of Law.
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