This module covers several situations that require special planning consideration. A major topic is how to plan for a person’s incapacity. The vehicles used to plan for care of such a person’s personal, financial, and medical needs are discussed, as well as the court process required to appoint a guardian and conservator. Other topics addressed include divorce, blended families, alien spouses, and living in an unmarried relationship. Additionally, the considerations for selecting a fiduciary such as an executor for an estate, a guardian for minor children, and a trustee for a trust are discussed.

8-1: Identify the characteristics or the advantages and disadvantages of specific estate planning techniques for managing an incompetent person's personal and financial affairs
8-2: Identify the characteristics or the advantages and disadvantages of specific estate planning techniques used to provide for an incompetent person's medical and end-of-life needs
8-3: Explain the estate planning issues associated with nontraditional family arrangements and the advantages and disadvantages of specific estate planning techniques in addressing such issues
8-4: Explain the estate planning issues associated with cohabitation or nontraditional family arrangements or the advantages and disadvantages of specific estate planning techniques in addressing such issues
8-5: Identify factors that should be considered when selecting a fiduciary such as a trustee, guardian, conservator, or personal representative

Author: Kirsten Waldrip, JD, LL.M.

Kirsten Waldrip, JD, LL.M., is an associate professor of estate planning and taxation at the College for Financial Planning. Kirsten worked in private practice as an estate planning and administration attorney prior to joining the College. She graduated from Arizona State University with a bachelor’s degree in interdisciplinary studies of business and communication, she received her JD from Syracuse University College of Law, and she received her LL.M. from University of Denver. You can contact Kirsten at kirsten.waldrip@cffp.edu.

Complexity Level: Intermediate