Estate Planning Opportunities Arising from Windsor and Perry

The Trusts and Estates Practice of Katten, Muchin, &Rosenman, LLP recently compiled a list of estate and tax planning opportunitiesarising from the Supreme Court’s recent decisions in Windsor and Perry.

Opportunities arising from Windsor include:

1. Review estate planning documents to ensure thatthe amount and structure of any spousal bequests remain appropriate.
2. Review retirement account beneficiarydesignations and joint and survivor annuity elections to ensure that theyremain appropriate.
3. Consider replacing individual life insurancepolicies with survivor policies.
4. Consider splitting gifts between spouses.
5. Amend previously filed federal estate, gift andincome tax returns and/or file protective claims as appropriate.
6. Reside in a state that permits and/or recognizesmarriages of same-sex couples.
7. Non-citizen spouses should consider seekingpermanent residency and/or becoming citizens.

Opportunities arising from Perry include:

1. Amend previously filed California income taxreturns and/or file protective claims as appropriate.
2. Amend previously filed tax returns and/or fileprotective claims with other states as appropriate.

See Katten, Muchin& Rosenman LLP, Estate PlanningOpportunities Arising from Recent Landmark Supreme Court Decisions ConcerningMarriages of Same-Sex Couples, The National Law Forum, June 28, 2013.