Trusts and Estates
Ca. Trs. & Estates Quarterly 2019, Volume 25, Issue 4
Content
- Application For Leave To File Amicus Curiae Brief
- Barefoot V. Jennings: a Disinherited Trust Beneficiary's Standing To Bring a Trust Contest In Probate Court Now Teeters Before the California Supreme Court
- Brief of Amicus Curiae Executive Committee of the Trusts and Estates Section of the California Lawyers Association In Support of Petitioner
- Chairs of Section Subcommittees
- Does Kaestner Have Any Relevance For the Taxation of Trusts In California?
- Editorial Board
- From the Chair
- From the Editors-in-chief
- Inside this Issue:
- Litigation Alert
- Tax Alert
- Tax Planning Using California's Decanting Statute
- Till Death Do We Litigate That Divorce
- Tips of the Trade: Pitfalls of Split-interest Trusts For Blended Families
TIPS OF THE TRADE: PITFALLS OF SPLIT-INTEREST TRUSTS FOR BLENDED FAMILIES
By Jeremy J. Ofseyer, Esq.*
Estate planning clients with blended families often think they need a "split-interest" trust to provide benefits for a surviving spouse for life, with any remainder going to issue from a prior marriage. Although this reflects a natural wish, the administration of a split-interest trust is fraught with risks of conflict for the blended family.
This column outlines common split-interest trust structures and the reasons for them, examines the pitfalls they present in blended families, and suggests alternatives that can reduce family conflict. It suggests planning approaches to minimize the risks involved when drafting and administering split-interest trusts. It concludes with a separate discussion of split interests in a family residence.