Talking About Wealth Transfer Plans – The Missouribar

Originally presented on March 26, 2019

Transferring wealth often unearths long-deferred issues that may complicate or even subvert the best laid trust and estate plan. Heirs may have expectations about their inheritance that are unrealistic. Certain children may expect to take control of a family business. There are often interpersonal resentments or animosities among heirs, children of different marriages. Sometimes, too, there are children from a relationship that were previously unknown.  These and many other issues need to be identified and discussed before plans are formulated and documents drafted.  But raising these issues is a very delicate business which sometimes takes lawyers to the edge of their comfort zone. This program will provide you a practical guide to raising these issues and counseling clients about the legal issues involved.  

• Communicating wealth transfer plans before the death of a client 
• When to have those conversations – timing is everything 
• How to broach uncomfortable topics and unpopular choices with beneficiaries 
• Anticipating visceral reactions and strategies to avoid estrangement and dispute
• How trustee choices may impact beneficiary reactions
• Talking about the real risks of costly, protracted and potentially ruinous litigation

Speakers: Daniel L. Daniels, Wiggin and Dana, LLP, Greenwich, CT and Steven B. Malech, Wiggin and Dana, LLP, New York, NY

NOTE: This program was originally produced as a telephone seminar and is available on demand in streaming audio. This material qualifies for self-study credit only. Pursuant to Regulation 15.04.5, a lawyer may receive up to six hours of self-study credit in a reporting year. Self-study programs do not qualify for ethics or elimination of bias credit.