Pre-Mortem Litigation CLE

The American Bar Association Section of Real Property, Trust and Estate Law and the ABA Center for Continuing Legal Education is sponsoring a teleconference and live audio webcast on December 2, 2008 entitled Heirs in Waiting? Pre-Mortem Probate Dispute in the Context of Guardianships, Conservatorships, Power of Attorney, and Family Business Entities.

Here is a description of this program:

Life expectancy in the U.S. is increasing. Senior family members are accumulating wealth. At the same time, heirs in waiting are facing financial demands in an increasingly competitive economy (if you think Prince Charles is the only heir in waiting, think again). To meet these challenges, estate planning lawyers are seeking to reduce estate taxes for their clients while at the same time increase income for their heirs, by transferring ownership interest in their client’s assets before death.

These pre-mortem arrangements can work well, except when the patriarch or matriarch of a family takes ill or faces a long-term decline in the ability to manage financial affairs. Cracks begin to appear in the foundation that holds a family together. Disputes arise among the heirs and the patriarch or matriarch (who is often the person who keeps family disputes in check) is no longer able to control the situation.  These disputes may evolve into a pre-mortem “will contest.” In addition, these social, economic and estate planning considerations have manifested themselves in a growing number of disputes involving the management, control, and disposition of assets before the senior member of the family dies.

This teleconference and live audio webcast will explore the mechanisms for asserting and defending these disputes and the ethical and legal constraints governing pre-mortem litigation.