Skip to Content

We are a Veteran Owned Business, providing 20% discounts for Veterans, First Responders, Elementary and High School teachers. Please contact us to set up a phone or Zoom meeting. Taking care of you and your family, It's What We Do!

Examples of Estate Planning Protecting Your Surviving Spouse.

Posted on Wed Dec 19, 2018, on Estate Planning

From Our “Ask a Question” Mailbag: “Please give me Examples of Estate Planning Protecting a Surviving Spouse.”

Examples of Estate Planning Protecting

Estate Planning Lawyer Kelly Barse.

Examples of Estate Planning Protecting a Surviving Spouse:

  • Example of a Disclaimer Trust protecting your surviving spouse. Mr. Philadelphia had his Estate Planning Lawyer incorporate a Disclaimer Trust in his Will. At Mr. Philadelphia’s death, Mrs. Philadelphia chose to disclaim $500,000 into the protective trust. Mrs. Philadelphia (after a respectful amount of time) then married Mr. Wynnewood.  As it turns out, Mr. Wynnewood was not a nice fellow, and Mrs. Philadelphia later filed for divorce. Mr. Wynewood tried to claim the $500,000 was marital property, but the Family Court Judge ruled against him because the $500,000.00 was never in Mrs. Philadelphia’s name. Follow the link to learn more about Disclaimer Trusts.
  • Example of an Insurance Trust protecting your surviving spouse.  Mrs. Philadelphia formed an Irrevocable Life Insurance Trust or ILIT to purchase a life insurance policy on her life. Her husband, Mr. Philadelphia, was the trust’s beneficiary. At her death, Mr. Philadelphia was in a bad financial situation and any money he would have received from Mrs. Philadelphia would have passed to his creditors. Instead, the ILIT trustee collected the policy death benefit and used the money to support Mr. Philadelphia until his death. Follow this link if you would like to know more about ILITs
  • Example of a Contract to Will protecting your surviving spouse. Mr. and Mrs. Philadelphia signed binding Contracts to Will obligating the surviving spouse to leave all assets to their child,  Philly. Mr. Philadelphia died first.  Mrs. Philadelphia later met Mr. Doylestown and changed her will giving Mr. Doylestown the family house. Philly had his Estate Litigation Attorney successfully petition to the court to enforce the binding, Contract to Will and received title to the house.   Follow this link to learn more about Contracts to Will.

In Conclusion: Examples of Estate Planning Protecting a Surviving Spouse.

I hope these Examples of Estate Planning protecting a Surviving Spouse were useful. We are always happy to brainstorm with you about your own, unique situation. 

Let our Estate Planning lawyers help walk you through what can be a confusing process. To begin with, call to speak to one of our experienced estate planning lawyers.  By all means, our lawyers are ready to answer your questions. In fact, feel free to contact our office for a free consultation. Ultimately our goal is to make the process as painless as possible!

Wills, Trusts, Probate, and Estate Litigation, It’s All We Do!

Tags:

Contract To Will, ILIT, Irrevocable Trust, Kelly Barse

Peter KlenkPeter Klenk

What Our clients are saying

Klenk Law Logo
Stars

CHARLES TOLL

Excellent, knowledgeable team handled a complicated issue with superb results.

Klenk Law Logo
Stars

Michael Wolfgang

Peter and the whole team at Klenk Law are top notch. They are thorough, efficient and understanding of client needs. He was able to tailor our estate planning needs just how we envisioned.

Klenk Law Logo
Stars

MJG

Affable...yet surprisingly cerebral estate planning atty. High marks all the way around.

Klenk Law Logo
Stars

Chantee C.

Peter recently gave a presentation about Wills & Trusts at my employer, and it was fantastic! He was extremely knowledgeable and provided valuable information to the group. People were very engaged and asked several questions, all of which Peter thoroughly answered. Personally, my husband and I have selected Peter to help us with our estate planning, and he has been very helpful in providing us with all of the information we need to provide a secure future for our family. Thank you, Peter!

Klenk Law Logo
Stars

Anne W.

I saw four lawyers and was told by all of them; I should just forget contesting my mother's will. I knew what happened, but it is very hard to prove undue influence. I contacted the Law Offices of Peter L. Klenk & Associates. Attorney Amanda DiChello took my case. They were very honest and upfront about what would be involved trying to prove what I knew was true. Attorney DiChello may be young but she is extremely knowledgeable and skilled. She listened and understood what I conveyed to her. She knew exactly what information to use and crafted an outstanding interrogatory and many powerful depositions. Attorney DiChello understood the various emotional feelings this case created for my family and me; she was always there for us with a kind and encouraging word. We went to trial. The amount of work which she and her Paralegal did for the trial was incredible. They both knew my case inside and out! Attorney DiChello's powerful interrogative and thinking skills produced a positive outcome. Attorney DiChello did what other seasoned lawyers said was impossible!

Let us put our expertise to work for you.

Free consultation within 24 hours.