161: What's Yours, Mine, and Ours? Untangling Community vs. Separate Property in Estate Planning

Absolute Trust Talk

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12M ago 16:53

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In this episode of Absolute Trust Talk, host Kirsten Howe is joined by the accomplished Ruth Koller Burke, Partner at Koller Herlihy LLP, whose 25+ years of experience span estate planning, trust administration, and probate litigation. Ruth's dual expertise as both an estate planner and litigator—gained through years of representing Fortune 500 companies and managing high-stakes family dynamics—brings an invaluable perspective to this discussion.

Together, Kirsten and Ruth dive deep into the complexities of community and separate property in estate planning. From clarifying what distinguishes assets owned before marriage from those accumulated together, to understanding the role of trusts and navigating pre- and post-nuptial agreements, they leave no stone unturned. Whether you're planning for a first marriage, a blended family, or any unique scenario, this episode offers actionable advice to help you safeguard your legacy and avoid future complications.

Time-stamped Show Notes:

0:00 Introduction

1:28 Meet Ruth Koller Burke and learn how her dual expertise as an estate planner and litigator provides unique advantages for estate planning clients.

3:15 What's the difference between community and separate property? Ruth and Kirsten explain these terms and why aligning estate planning with prenuptial or postnuptial agreements is critical.

5:20 How do prenuptial and postnuptial agreements influence estate planning? Get expert insights into how estate planners approach these agreements.

8:40 Second marriages and commingling assets can complicate estate planning—hear a real-world example of how to handle these situations effectively.

10:28 Should married couples have separate trusts, a community trust, or a mix? Ruth and Kirsten delve into this key question and offer tailored solutions.

13:12 Protecting separate property from being unintentionally commingled is crucial—press play for practical tips on keeping assets clearly defined.

16:38 Thank you, Ruth, for sharing your insights! Don't miss the next episode, where Kirsten and Ruth dive into estate planning horror stories and how to avoid them.

Take the Next Step in Your Estate Planning Journey

If this episode resonated with you, we'd love to help you with your own estate planning needs in California. Schedule a complimentary discovery call with our team at Absolute Trust Counsel. During this no-obligation conversation, we'll:

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Visit https://absolutetrustcounsel.com/scheduling/ or call 925-943-2740 to schedule your free discovery call today.

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