Click here to view Questions & Answers that arose during the LinkedIn Live Stream.
For more information about how we can assist with the complexities of divorce and premarital planning, please contact Sharon Klein.
Sharon Klein Answers Questions from: How to Stress Test a Divorce Plan
Click on the below QUESTION to view Sharon's response.
No, getting an in-force illustration is not the same as a policy review. While an in-force illustration can provide important information, a thorough policy review should be completed by an outside, neutral, expert organization (not the broker who sold the insurance). This type of review encompasses whether the policy is performing, an analysis of the strength of the insurance company, whether the type of policy is still appropriate having regard to factors like whether the health of the insured, market conditions or the original goal in purchasing the insurance has changed, comparisons with different options to check if premium amounts/death benefits are competitive in the current environment or whether an exchange should be considered to obtain more attractive/less expensive coverage. Wilmington Trust uses such an outside, third party to review insurance when we act as trustee of life insurance trusts.
Please feel free to email me for further guidance, tips and best practices for life insurance reviews.
When a marriage ends and a spouse is a trust beneficiary, are the trust assets accessible or off limits in a divorce? Wilmington Trust's Sharon Klein, president, Eastern U.S. Region and Elena Karabatos, partner at Schlissel Ostrow Karabatos, PLLC in New York met with Dan Couvrette, CEO of Family Lawyer Magazine, to examine what types of trusts, trust provisions, trust history and trust administration make trusts more vulnerable to attack in divorce; how to potentially change even irrevocable trusts; and ways to ameliorate surprising tax consequences that might otherwise distort results.
Are you most effectively representing your clients in negotiating prenuptial agreements? Wilmington Trust's Sharon Klein, president, Eastern Region and Madeline Marzano-Lesnevich, past president of the American Academy of Matrimonial Lawyers, met with Dan Couvrette, CEO of Family Lawyer Magazine, to outline top tips and traps in negotiating premarital agreements.
Are you aware of the analytical data and latest tax law changes that can help you most effectively represent clients at the negotiating table? Wilmington Trust's Sharon Klein, president, Eastern Region and Mark Bank, a founding partner of Bank Rifkin in Michigan met with Dan Couvrette, CEO of Family Lawyer Magazine, to outline important steps family lawyers should take in negotiating settlement agreements.
Are you aware of the important steps you can take to ensure obligations are appropriately secured with life insurance pre- and post-divorce? Wilmington Trust's Sharon Klein, president, Eastern Region and Lee Rosenberg, partner at Saltzman Chetkof & Rosenberg LLP in New York, met with Dan Couvrette, CEO of Family Lawyer Magazine, to outline key guidance for leveraging life insurance in the marital planning and divorce contexts.
Our Latest Divorce Insights eBook: Divorce: What Professional Advisors Must Know
Please submit the following information to access this valuable guide, authored by Sharon Klein and designed to help advisors and clients make important decisions before, during, and after a divorce.