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Untying the Knot: MPAs for Estate Planning, Business, Family, and Bankruptcy 2023

Product ID: CA3450D
Presented By: State Bar of Wisconsin PINNACLE

It doesn’t have to be all or nothing

With about half of all marriages ending in divorce, it’s wise for couples contemplating a trip down the aisle to consider a marital property agreement. This is especially true for those with children from prior marriages, significant assets or debts, or family businesses they want to protect.

Marital property agreements can also be essential estate planning tools tailored to the individual needs and circumstances of a couple. With a marital property agreement, the couple can alter Wisconsin’s default 50/50 marital property allocation by classifying certain property as individual. But they must be properly drafted to be enforced.

Draft airtight agreements

Attend Untying the Knot: MPAs for Estate Planning, Business, Family, and Bankruptcy to:

  • Gain tips and tricks for transforming neutral sentences into persuasive ones
  • Learn the essentials of drafting valid, enforceable marital property agreements for couples of all kinds
  • Discover how the classification of property can impact your clients’ estate plans
  • Create estate plans that account for various marital circumstances
  • Protect your clients’ family business in the event of a dissolution of marriage
Read More ↓

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Select a Format

OnDemand seminar

Pricing

Member $239.00

Non-Member $319.00

Credits

4 CLE

Upon purchase, this OnDemand program is available to view for 90 days.

Quantity:
Maximum quantity must be less than or equal to 1.

It doesn’t have to be all or nothing

With about half of all marriages ending in divorce, it’s wise for couples contemplating a trip down the aisle to consider a marital property agreement. This is especially true for those with children from prior marriages, significant assets or debts, or family businesses they want to protect.

Marital property agreements can also be essential estate planning tools tailored to the individual needs and circumstances of a couple. With a marital property agreement, the couple can alter Wisconsin’s default 50/50 marital property allocation by classifying certain property as individual. But they must be properly drafted to be enforced.

Draft airtight agreements

Attend Untying the Knot: MPAs for Estate Planning, Business, Family, and Bankruptcy to:

  • Gain tips and tricks for transforming neutral sentences into persuasive ones
  • Learn the essentials of drafting valid, enforceable marital property agreements for couples of all kinds
  • Discover how the classification of property can impact your clients’ estate plans
  • Create estate plans that account for various marital circumstances
  • Protect your clients’ family business in the event of a dissolution of marriage
Read More ↓

J. David Krekeler
Krekeler Law
Madison

Anthony J. Menting
Stafford Rosenbaum, LLP
Madison

Gregory M. Monday
Reinhart Boerner Van Deuren S.C.
Madison

Reg Paul Wydeven
McCarty Law, LLP
Appleton

8:30 a.m. : Using MPAs for Estate Planning Purposes

  • Classifying Assets
    • As individual property to prevent unintentional commingling
    • As marital property to get a double step-up in basis upon the death of one spouse
  • Washington Will provisions for probate avoidance
    • Transfer assets directly to beneficiaries
    • Transfer assets to a revocable trust
  • Medicaid planning purposes to avoid Estate Recovery
    • Classifying assets as the individual property of a Community Spouse to avoid Estate Recovery if the Community Spouse dies first
    • Classifying assets as the individual property of a Community Spouse to avoid Estate Recovery if the Community Spouse dies second

Reg Paul Wydeven

9:20 a.m. : MPAs in Family Law

  • Engagement Letters
  • Use of Preliminary Asknowledgements in the Agreement
  • Financial Disclosure Statements
    • Timing of disclosure
    • Content of disclosure
    • Establishing Gift/Inheritance
    • Creating/Preserving trial evidence
  • Property Division
    • Presumed Equitable
    • Use of expanding awards
    • Use of percentages, floors and ceilings
  • Bases for non-enforcement

Anthony J. Menting

10:10 a.m. : Break

10:25 a.m. : The use of MPAs in Family Business Plans

  • Provisions in a marital property agreement can prevent a divorce court from reclassifying a family business interest as divisible property
  • Spouse of a family business owner can be bound by the terms of a buy-sell agreement
  • Ways a marital property agreement can protect a spouse against claims of a lender
  • Spouses should amend their marital property agreement if they go into business together

Gregory M. Monday

11:15 a.m. : MPAs and Treatment in Bankruptcy

  • Significance of marital property determinations in bankruptcy
    • Property of the estate
    • Exceptions
    • Plan formulations
  • Tips and tricks
    • Maximizing exemptions
    • Protecting assets from creditors holding non dischargeable debts
    • Means test and budget

J. David Krekeler

12:05 p.m. : Program Concludes

Following program start times, webcast replay schedule will vary slightly from above listed times.

  • Draft solid marital property agreements for clients contemplating marriage
  • Know the requirements for a valid marital property agreement
  • Understand how marital property agreements are treated in bankruptcy
  • Pick up drafting tips to ensure marital property agreements reflect your clients’ wishes
  • Learn how to protect family businesses using marital property agreements
  • Family law attorneys
  • Estate planning attorneys
  • Bankruptcy attorneys
  • Family business advisors
  • General practitioners

BOOK BONUS

Marital Property Law & Practice in Wisconsin
Save 20% on either a 1-year subscription to the Books UnBound title or purchase of the print book.* Your guide to everything from determining property ownership and filing for bankruptcy, to planning estates and giving tax advice, Marital Property gives you the answers you need in a user-friendly manner.Use discount code CA3450 when you order online or by calling (800) 728-7788.

*Discount applies to both print and digital Books UnBound editions of this title and cannot be applied to previous purchases. Offer valid through 12/31/24. For Books UnBound users, discount may be applied to purchase of individual Books UnBound title only and may not be used on purchase of libraries. Discount cannot be combined with any other offers.

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