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Addictions and Impaired Clients: Estate and Related Planning Considerations

Drug use is on the rise in this country and 23.5 million Americans are addicted to alcohol and drugs. That’s approximately one in every 10 Americans over the age of 12. No estate, tax or financial planner can assume that a significant number of client families are not affected (they are). The reality is that the practitioner must understand the commonality of these issues and guide clients, draft documents, and administer estate plans, trusts and financial plans accordingly. Learn how to take steps, from a legal and planning perspective, to protect family members and other beneficiaries from further harm, depleting family assets, and further damage to the whole “family” unit (however the client may choose to define that term).

The ABC’s of Estate Planning for Retirement Benefits in a Post-SECURE World

Exclusive On-Demand Webinar from Natalie Choate

Please Note: ILS Subscribers have complimentary access to this video in the ILS Webinar Library

The SECURE Act has been part of the estate planning landscape for more than a year, but some planners are understandably still considering how (or if) it impacts their clients. A lack of regulatory guidance has generated further confusion, as professionals try to work within a framework of regulations that doesn’t match the framework of the new law. Add to that a seemingly contradictory IRS publication – which fortunately appears to be an inadvertent error – and it’s no wonder planning for retirement benefits remains a hot topic for discussion.

Blockchain Technology and Estate Planning: Cryptocurrencies, NFTs, E-Wills, and Other Ways Blockchain May Affect Modern Estates

Digital assets were only the beginning. Today, there is a new intersection of technology and property interests that most estate planners – in fact, most people - don’t yet understand. Slowly, but surely, estate planners are starting to see clients with asset portfolios that include cryptocurrency and non-fungible tokens (NFTs). Much like tangible property or other intangible interests, these are assets of value, and therefore must be addressed as part of the estate plan. But unlike more traditional forms of property, understanding the nature of these assets requires some background information, and answers to some basic questions. What exactly are they? How are they owned? How can they be transferred? And maybe most importantly in a time of potential tax law changes, how are they valued?

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