Webinar Description

Estate plans that incorporate a disclaimer by the surviving spouse are often used to bridge the gap between a simpler estate plan that benefits the spouse and a more complicated bypass trust plan designed to reduce estate taxes.  For many clients, the high federal estate tax exemption means their estate will not be subject to tax, but if (and when) the exemption drops, taxes could be imposed.  Creating a simple plan with built-in contingent tax planning seems ideal for those clients, and a disclaimer plan is one way to achieve this.

In this Subscriber Drafting Webinar, we will examine how to draft the disclaimer plan in InterActive Legal.  We’ll consider how the plan works whether you are using a Will, Revocable Trust, or Joint Revocable Trust, and how to draft it in each of those documents and in all practice systems.  We will review both the interview options and the language that appears in the assembled documents, covering the following topics and more:

•    Using either an outright or in trust gift for the spouse coupled with the disclaimer
•    Naming and selecting terms for the “disclaimer trust”
•    How the disclaimer options work  in a joint trust
•    Disclaimer planning in decoupled states

We will also briefly discuss other contingency plans for tax planning – relying on portability or using a Clayton QTIP plan – but the focus will be on the disclaimer option.  Join us for a review of this increasing common estate plan design.

Subscriber Drafting Webinars

Subscriber Drafting Webinars provide continued training on various aspects of using the InterActive Legal software, usually focusing on drafting particular documents or using certain drafting options.  These webinars are free to ILS subscribers. They provide insight and training regarding specific documents and options available within the drafting systems. Subscribers will receive an email outlining the topic of each drafting webinar with instructions for registration.

Continuing Education Credits

InterActive Legal is not an approved Continuing Education (CE) Sponsor. However, several states and regulatory agencies for a variety of professionals that participate on our teleconferences may still receive continuing education credit for their participation. If a participant wishes to receive CE credit for their participation in these teleconferences, they must apply to receive credit on their own and through their individual states and regulatory authorities. It is the responsibility of the participant to file for CE credit and is not guaranteed by the webinar sponsors.

Speaker Bio

Teresa L. Bush Esq.

Teresa Bush joined InterActive Legal in 2007 and serves as Director of Education and Support Services. Ms. Bush has been licensed to practice law since 1991, and focused her practice exclusively on issues of estate and gift tax planning, probate, charitable planning, and estate and trust administration. She began her practice in a small law firm, planning for clients of all levels of wealth. Thereafter, she practiced for a number of years in the Tax Section of Kelly, Hart and Hallman, P.C. in Fort Worth, Texas, and as an estate and gift tax consultant for the Dallas office of Ernst & Young, in both cases focusing on planning for very high net worth clients. Ms. Bush received her J.D. from the University of Texas School of Law, where she was a research assistant for Professor Stanley M. Johanson. She studied at Edinburgh University and the London School of Economics prior to obtaining a B.A. in Economics and Political Science from Rice University in Houston. While studying abroad, she worked as an intern for a Member of Parliament in the British House of Commons. Ms. Bush taught legal research and writing as a Teaching Quizmaster in law school, and later taught estate planning extension courses for American College of Financial Services CLU candidates. She has presented several online webinars on estate planning and drafting topics, and is the author or co-author of a variety of estate planning articles.

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