Absolute Trust Talk

In this final installment of Absolute Trust Talk's international estate planning series, host Kirsten Howe concludes her conversation with estate planning specialist Janet Brewer, addressing one of the most common cross-border scenarios: U.S. citizens who own property abroad. Janet, with over 30 years of experience serving Silicon Valley's international clientele, explains why simply leaving foreign property to your US trust won't work, since most countries don't recognize trusts at all.   This episode highlights the crucial distinction between countries that recognize trusts (primarily former British colonies) and those that don't, and examines practical solutions, including the Hague Convention on International Wills and strategic "situs wills," which can prevent costly intestate succession. Janet shares how to navigate the complex process of probating wills in multiple countries and introduces listeners to STEP (Society of Trust and Estate Practitioners), an invaluable resource for finding qualified international estate planning professionals worldwide. Whether you've inherited a cottage in England, own investment property in India, or have family assets in China, this episode provides essential guidance for protecting your foreign holdings and ensuring your wishes are honored across borders.   Time-stamped Show Notes: 0:00 Introduction 2:27 Janet explains the fundamental problem: Most countries don't recognize trusts, making standard US estate planning ineffective for foreign property 3:04 Discover which countries DO recognize trusts: primarily former British colonies like England, while Germany, China, and France do not 3:08 Learn about the Hague Convention on International Wills - a treaty that allows properly formatted wills to be honored across participating countries 5:57 The reality check: Most clients have their primary assets in the US but own that "little pocket of assets" overseas 6:07 Janet walks through the practical challenge of having one original will needed in two different countries 7:03 Strategic will drafting: How to structure wills to handle both US trusts and foreign property distributions effectively 10:07 Why you MUST work with an attorney in the foreign jurisdiction - forced heirship laws and other local requirements can override your US planning 11:10 Meet STEP: The Society of Trust and Estate Practitioners - your go-to resource for finding qualified international estate planning professionals 12:53 How STEP membership requirements vary by country, with stricter vetting in the UK compared to more relaxed US standards 13:56 Closing thoughts and appreciation for the three-part international estate planning series

In this second installment of Absolute Trust Talk's international estate planning series, host Kirsten Howe welcomes back estate planning specialist Janet Brewer to explore advanced strategies for families with cross-border connections. Building on their previous discussion of guardianship challenges, this episode focuses on critical tax considerations and financial hurdles faced by international families. Janet, a certified specialist with over 30 years of experience serving Silicon Valley clients, explains the unique tax opportunities available to visa holders with stock options and RSUs, which could result in savings of hundreds of thousands of dollars in estate taxes. The conversation reveals why appointing trustees who live abroad can trigger costly "foreign trust rules" and explores practical obstacles, such as banking restrictions, that complicate international wealth transfers. Janet and Kirsten also discuss the unexpected documentation requirements that can delay inheritance distributions to beneficiaries across borders, including the little-known "transfer tax certificate" that can hold up distributions for 6-9 months even when no tax is owed. Whether you're working in the US on a visa, have family members overseas, or are a US citizen living abroad, these expert insights could protect your hard-earned wealth from unnecessary complications and taxation.   Time-stamped Show Notes: 0:00 Introduction 1:22 Janet introduces a common scenario: Visa holders with stock options and RSUs who need specialized planning. 2:54 Did you know? US citizens enjoy a nearly $14 million exemption, while non-US domiciliaries face estate tax after just $60,000. 4:56 Discover the key "planning opportunity" for visa holders: Gifts of US stock aren't subject to gift tax, but the same stock in their estate would face up to 40% tax at death. 8:53 Janet explains the critical distinction between "residence" and "domicile" for tax purposes, and how visa holders can legally leverage this difference. 11:31 Find out why appointing a foreign trustee can trigger costly "foreign trust rules" that reduce funds available for beneficiaries. 13:42 Learn about the growing practical challenge of US banks refusing accounts for trustees who don't have US addresses. 16:17 Next, Kirsten and Janet discuss why hiring a US-based professional fiduciary might be the most cost-effective solution despite the emotional preference for family trustees. 18:49 Obtaining an ITIN (International Taxpayer ID Number) can delay distributions by months, another documentation hurdle that foreign beneficiaries face. 22:09 Janet shares a recent discovery about US citizens living abroad: their US assets require a "transfer tax certificate" that can take 6-9 months from the IRS, even when no tax is owed. 25:44 Here's a workaround for the transfer tax certificate delay: Opening a probate proceeding can allow distributions to proceed more quickly.

In this episode of Absolute Trust Talk, host Kirsten Howe welcomes estate planning specialist Janet Brewer to explore the unique challenges faced by immigrants and international families when planning for their future. Janet, with over 30 years of experience serving clients throughout Silicon Valley, brings her vast knowledge to address the specific concerns of non-resident aliens, visa holders, green card holders, and other international families with U.S.-based assets. As a member of the invitation-only Society of Trust and Estate Practitioners (STEP), Janet regularly prepares estate plans for foreign nationals who own property or live in the US and for US citizens who own property abroad. During this discussion, they examine the critical considerations for guardianship of minor children across international boundaries, practical solutions for emergency situations, and financial strategies to protect loved ones regardless of where they call home. The conversation highlights how international estate planning requires careful attention to both legal requirements and practical implementation across different jurisdictions.   Time-stamped Show Notes: 0:00 Introduction 3:41 Learn about the biggest concern for international clients: ensuring their children can return to family in their home country if something happens to the parents. 4:43 While California allows foreign guardians, it does vary by state. 6:40 Understand the critical distinction between technical jurisdiction and actual enforcement power when children leave California for another country. 7:54 Janet highlights that challenges with out-of-state guardianship exist even within the United States, creating similar concerns to those found in international guardianships. 9:41 Find out about temporary guardianship arrangements needed to bridge the gap when appointed guardians live far away. 11:51 Hear Janet's insightful perspective that international guardianship is "a question of degree, not difference" compared to distant domestic guardianships. 12:17 Start listening now to learn about potential complications when children are taken across borders without judicial approval. 14:31 Janet shares a clever software analogy to explain why trust documents need specific instructions for authorizing payments to guardians for travel expenses. 16:36 Discover why life insurance is a crucial financial solution for international families, providing quick liquidity without market timing concerns.

In this episode of Absolute Trust Talk, host Kirsten Howe and associate attorney Jessica Colbert continue their discussion on estate planning during divorce proceedings with practical solutions. Following their previous episode on the potential problems that can arise if someone becomes incapacitated or dies during divorce, they now focus on preventative measures. The attorneys explain how to ensure your soon-to-be ex-spouse doesn't maintain control over your healthcare decisions or inherit your assets contrary to your wishes. They discuss the creation of new healthcare directives, powers of attorney, wills, and trusts—all while navigating the automatic temporary restraining orders (ATROs) that restrict asset transfers during divorce. This episode, part two of their divorce series, provides clear guidance on proper timing of estate planning updates during divorce to protect yourself legally before the process is finalized.   Time-stamped Show Notes: 0:00 Introduction 2:03 How to avoid having your spouse be responsible for you if incapacitated 2:26 Next, Kirsten and Jessica discuss options for those who have never created estate planning documents 2:48 What should you do if you already have documents naming your spouse? 3:16 Now, let's talk about how to prevent your spouse from inheriting if you die before the divorce is final 5:23 What are the next steps for clients who already have a joint trust with their spouse? 6:07 Let's clarify the importance of following trust-specific revocation methods and requirements during divorce 7:44 Finally, listen as Kirsten and Jessica talk about why accepting potential probate may be necessary and worth it

In this episode of Absolute Trust Talk, host Kirsten Howe and associate attorney Jessica Colbert discuss critical estate planning considerations during divorce proceedings. They explore what happens if someone becomes incapacitated or dies while their divorce is still pending, revealing potentially unwelcome consequences if proper planning isn't in place. The discussion highlights how existing estate plans typically name a spouse as the primary decision-maker and beneficiary—a designation most divorcing individuals would want to change immediately. Without written estate plans, the situation becomes even more complicated, potentially requiring expensive and contentious conservatorship proceedings for incapacity or following intestacy laws upon death that would likely favor the soon-to-be ex-spouse. This episode, part one of a two-part series, emphasizes that you remain legally married until a judge finalizes your divorce, meaning all existing estate planning designations remain in effect unless proactively changed.   Time-stamped Show Notes: 0:00 Introduction 2:10 What happens if you become incapacitated during divorce with a written estate plan 2:52 The consequences of becoming incapacitated without a written estate plan during divorce 3:28 Brief explanation of the conservatorship process and why it should be avoided 5:03 What happens if you die before your divorce is finalized 5:12 Death without a written estate plan during divorce: intestacy and its complications 6:29 How existing written estate plans remain in effect until the divorce is finalized 6:48 The bottom line: You remain legally married until a judge says otherwise

In this episode of Absolute Trust Talk, host Kirsten Howe examines the estate complications following Richard Simmons' death in July 2023. She details the ongoing legal dispute between Simmons' brother Leonard (named trustee) and Teresa, his housekeeper of 30 years who briefly served as co-trustee before a contested resignation. The conflict centers around approximately $1 million in personal property—primarily jewelry—that Teresa allegedly took when evicted from Simmons' home. While Teresa claims Simmons gifted her the jewelry in 2014, Leonard argues documentation proves otherwise. Kirsten extracts three valuable lessons: first, avoid naming co-trustees, especially in complex estates where a professional trustee would be more effective; second, document valuable lifetime gifts to prevent future disputes; and third, include specific provisions for non-owner residents in your estate plan to prevent eviction complications. This case study highlights how proper estate planning can prevent family conflicts, protect valuable assets, and ensure thoughtful treatment of longtime household members after death.   Time-stamped Show Notes: 0:00 Introduction 1:30 Meet the central figures in this estate drama: Teresa, the housekeeper, vs. Leonard, the brother. 2:05 From co-trustee to eviction, let's talk more about the shocking timeline after Simmons' death. 3:15 The million-dollar mystery: where did Richard Simmons' valuable jewelry disappear to? 4:20 Next, we'll discuss the number one estate planning lesson this case reveals: why co-trustees can transform estates into battlegrounds. 5:45 Estate Planning Lesson #2: Gifting jewelry? Why documentation might be your best accessory 6:30 And last but not least, estate planning lesson number three, the critical provision that could have prevented a housekeeper's eviction.

In this all-new episode of Absolute Trust Talk, Kirsten Howe and her associates, Jessica Colbert and Ariana Flynn, delve into the complex estate battle surrounding the late San Diego Padres owner, Peter Seidler. The MLB team finds itself at the center of a legal dispute as Seidler's wife, Sheel, contends with his brothers over control of the franchise. With allegations of breached trust, fraud, and self-dealing, the case highlights the intricacies of estate planning for high-net-worth individuals and the potential pitfalls of ambiguous or informal documentation. While largely speculation, the conversation also explores the crucial role of trustee selection and the challenges of navigating ownership agreements in the context of professional sports. Tune in for expert insights on safeguarding your legacy, minimizing the risk of litigation, and ensuring your estate plan is as airtight as your favorite team's defense.   Time-stamped Show Notes: 0:00 Introduction 1:08 To kick things off, let's dive into the complex estate battle of the late San Diego Padres owner, Peter Seidler. Listen in for a discussion of how Seidler's wife, Sheel, takes on his brothers in a heated legal fight to control the MLB team. 1:20 Breached trust, fraud, and self-dealing - the hosts break down the allegations and their implications for estate planning. 3:00 Next, let's examine the role of the Padres' "control person" and how it complicates the case and its potential outcome. 4:06 The function of a trustee is vital in estate planning. Here are some tips on how to avoid family feuds and ensure impartiality in estate administration. 7:05 Learn how Major League Baseball's unique ownership regulations can complicate estate planning for team owners. 7:59 Handwritten wills and informal estate documents: Why they often lead to legal disputes and how to avoid them. 9:12 Tune in now for what you need to know about recognizing the importance of following proper legal procedures to ensure estate plans are legally sound and enforceable. 10:36 Gain insights into how emotional reactions and unexpected human behavior can significantly impact estate disputes and learn strategies to mitigate these risks. 11:03 Key takeaways from the Padres' estate battle for creating effective and resilient estate plans.

In this episode of Absolute Trust Talk, Kirsten Howe, managing attorney at Absolute Trust Counsel, and associate attorney Jessica Colbert examine the estate of beloved actor Gene Hackman. They meticulously analyze the available court records from Santa Fe County, New Mexico, and contrast them with California's probate procedures. The attorneys skillfully debunk sensationalized headlines about Hackman's will, explaining the mechanics of pour-over wills and why media claims about his children being "cut out" are potentially misleading. While much of the discussion is speculation, they provide valuable insights into how proper estate planning anticipates contingencies like beneficiaries predeceasing the trustor. This episode demonstrates why understanding the difference between public court filings and private trust documents is crucial for anyone planning their estate.   Time-stamped Show Notes: 0:00 Introduction 2:39 Unraveling the court filings: What exactly was submitted in Santa Fe County after Gene Hackman's death? 3:46 Who is Julia Peters, and how did she become the personal representative of Hackman's estate? 5:00 California vs. New Mexico: Next, let's dive into how "informal probate" creates a dramatically different process. 7:03 Separating fact from fiction: What headlines get wrong about Hackman's estate planning. 8:05 "His children are cut out." Here, Kirsten and Jessica debunk the sensational claims about Hackman's will. 10:00 The unexpected twist: What happens when a primary beneficiary predeceases the trustor? 11:44 The mysterious "GEBE" trust is revealed. Listen in as Kirsten and Jessica explore Hackman's power of appointment. 13:32 Why Hackman's true wishes may remain private forever - Unless litigation changes everything.

In this episode of Absolute Trust Talk, host Kirsten Howe continues her valuation discussion with expert Alex Spaete from Bridge Forensic CPAs, exploring the intricacies of asset valuation. The discussion focuses on how privately held assets are valued, particularly examining discount factors applied to LLC interests based on control limitations and marketability constraints. Alex explains how family dynamics influence valuations, especially when implicit control exists despite limited ownership percentages. The conversation covers valuation approaches for unusual assets like promissory notes and accounts receivable, with Alex sharing real-world examples, including commercial rag manufacturing and Weather Derivatives. This show highlights why professional valuation expertise is essential when dealing with complex assets during estate planning, business transitions, or divorce settlements.   Time-stamped Show Notes: 0:00 Introduction 2:48 Diving back into the discussion, Alex breaks down the two main components of discounts: control factors and liquidity considerations that affect final valuations. 4:10 Here, we explore how operating agreements significantly impact valuation and what control considerations you should be aware of. 4:49 Gain insights on the fascinating impact of family dynamics on valuations, mainly how they come into play in divorce scenarios. 8:17 Find out whether the IRS requires taking discounts when available and the tax implications of valuation choices. 11:06 Alex explains the complexities of valuing promissory notes and how changing interest rates can dramatically affect their worth. 12:27 Before signing off, you must hear more about Alex's most interesting case studies, including an unusual rag-making business and complex weather derivatives.

In this insightful episode of Absolute Trust Talk, host Kirsten Howe welcomes Alex Spaete, a valuation expert and partner with Bridge Forensic CPAs. In part one of their discussion, Kirsten and Alex explore the complex world of asset valuation, particularly focusing on closely held businesses and real estate holding partnerships. Alex explains why valuing private entities requires specialized expertise beyond what's needed for bank accounts or publicly traded securities. The discussion clarifies the critical distinction between owning a percentage of a business entity versus owning the underlying assets themselves. Alex details the two primary approaches to valuation—net asset value and income analysis—and how they apply to different types of business structures. Whether you're planning your estate or simply curious about business valuations, this episode provides valuable foundational knowledge about how professionals determine what complex assets are truly worth.   Time-stamped Show Notes: 0:00 Introduction 3:14 To kick things off, we talk about why asset valuation matters in estate planning, particularly for complex assets. 4:35 Next, Alex explains his focus on closely held companies and non-publicly traded entities. 6:24 Now, we will dive into common valuation scenarios, particularly for privately held businesses and real estate holding partnerships. 8:02 Listen here for an explanation of real estate holding partnerships and how they differ from direct property ownership. 11:07 Learn about understanding net asset value as a critical starting point for business valuation methodologies. 12:54 Discover the important concept of discounting in valuations and why the sum of parts may not equal the whole value.

In this episode of Absolute Trust Talk, host Kirsten Howe welcomes real estate expert Nathan Jines from Jines Real Estate Group, Keller Williams, to discuss the complexities of selling real estate in a probate or trust administration. When a homeowner passes away, managing the sale of their property presents unique challenges, from family dynamics to market positioning. Nathan shares firsthand insights on navigating these transactions while ensuring a smooth process for grieving heirs.   Key takeaways include the importance of professional guidance, how family relationships impact the selling process, and strategies for maximizing property value. Nathan also highlights real-world examples, including a recent case where pre-sale improvements increased a home's sale price by nearly double. If you're handling a loved one's estate or considering future planning, this episode provides invaluable insights on protecting assets and ensuring a successful sale.   

Few things are as nerve-wracking as receiving an IRS audit notice—but how do audits really work, and what can you do to protect yourself? In this episode of Absolute Trust Talk, Kirsten Howe sits down with Anthony Kim, a former IRS Chief Counsel Attorney with 26+ years of experience, to reveal the truth behind IRS audits. Tony, who has litigated complex tax cases for the U.S. Treasury Department and represented Fortune 500 companies and high-net-worth individuals at Ernst & Young, shares insider knowledge on what triggers audits, the IRS selection process, and how to avoid common red flags. You'll learn why IRS audits are rarer than you think, the top mistakes taxpayers make, and why choosing the right representative—CPA or tax attorney?—could make or break your case. Plus, Tony drops a little-known IRS tip that could save you from missed notices and financial headaches. Don't leave your financial future to chance! Listen now to get expert advice on navigating an IRS audit with confidence.   Time-stamped Show Notes: 0:00 Introduction 0:57 Meet Anthony Kim: Former IRS Chief Counsel Attorney & tax expert 3:42 What triggers an IRS audit? Common red flags explained. 6:28 Whistleblower reports and third-party mismatches—how they lead to audits 7:46 The truth about audit risk: How rare are they, really? 8:43 Step one: How the IRS contacts you—don't fall for scams! 10:00 The one IRS form every taxpayer should file after moving 11:00 The biggest mistake taxpayers make—what NOT to say in an audit 15:32 The worst-case audit scenarios and how to avoid them 16:49 Why even a low-risk audit could turn into a criminal case 17:24 Who should represent you in an audit? CPA vs. tax attorney debate 21:38 What happens at the end of an audit—how decisions are made 22:47 How to challenge an IRS audit decision and file a protest letter

Intro Summary] In this follow-up episode of Absolute Trust Talk, host Kirsten Howe welcomes back tax law expert Tony Kim to continue their deep dive into IRS audits and appeals. With 26 years of experience working for the IRS, Tony provides invaluable insights into what happens after an audit determination is made. He explains the role of a protest letter, how appeals officers function as mediators, and why IRS litigation can be risky for taxpayers. Throughout the episode, Tony emphasizes the importance of organization, professionalism, and strategic decision-making when dealing with the IRS. He also shares real-world examples of how cases are resolved at different stages of the appeals process. If you're facing an IRS audit or just want to understand your rights, this episode is packed with essential knowledge.   Time-stamped Show Notes: 0:00 Introduction 1:33 The protest letter: Here's what you need to know about how it challenges IRS decisions. 4:20 Appeals officers vs. revenue agents—who decides your case? 6:16 The power of appeals—why 90% of cases never reach court. Here's why. 8:50 Tax Court vs. District Court: Listen in as Kirsten and Tony discuss the key differences and taxpayer options. 10:44 The IRS attorney's role—can they make things better or worse? 14:31 Next, Tony is sharing important strategies for working effectively with the IRS—what really works? 19:38 How do you determine what to look for when selecting the right tax attorney? Tune in for key considerations. 23:37 Final advice—why staying engaged in your case is crucial!

In this episode of Absolute Trust Talk, hosts Kirsten Howe and Jessica Colbert delve into the latest twist in O.J. Simpson's long-running estate saga. The estate's executor has taken an unexpected step by filing a lawsuit against one of Simpson's heirs, claiming that a key Las Vegas property was secretly transferred out of the estate's control. As they speculate on the case, the hosts examine the potential motives behind this action—such as the strategic use of an LLC and homestead exemptions—and the significant implications for addressing Simpson's mounting debts, including those owed to the IRS. With a thorough exploration of the executor's critical role in managing and safeguarding estate assets, this episode is a powerful reminder of the complexities and repercussions of poorly executed estate planning. Whether you're drawn to high-profile legal drama or seeking insights to protect your legacy, this discussion provides valuable lessons for anyone navigating the intricate world of estate administration.   Time-stamped Show Notes: 0:00 Introduction 0:38 O.J.'s executor files a lawsuit against his son, Justin, alleging that a scheme was used—via an LLC—to shift ownership of O.J.'s Las Vegas home. 1:44 Next, Kirsten and Jessica dive into the discussion of the executor's responsibility to marshal assets, ensuring funds return to the estate, and an explanation of why attorney and administrative fees come before creditor and beneficiary payments. 4:18 Do you know about the Homestead Exemption? Listen in to explore how homestead exemptions protect home equity and their potential impact in this case. 6:06 Here, the discussion shifts to whether forming an LLC was a tactic to shield the property from IRS claims and the implications of such a move. 6:45 Finally, Kirsten and Jessica analyze the uncertainty surrounding Justin's actions and the possible motives behind the alleged asset transfer.

In this episode of Absolute Trust Talk, host Kirsten Howe and associate attorney Jessica Colbert explore the critical steps in getting a will admitted to probate. They explain why lodging an original, properly executed will with the county superior court is essential, and how witness testimony can authenticate the document. They also examine the pitfalls of relying on a photocopy—or finding out too late that the original has been lost or destroyed. Finally, they underscore the importance of keeping your estate documents organized to avoid future probate headaches. If you're preparing your first will or need to update an existing one, don't miss this critical conversation on ensuring your final wishes stand up in court.   Time-stamped Show Notes: 0:00 Introduction 0:40 When lodging the original will, did you know that you must submit the current wet-signed will to the county superior court (not an older or photocopied version). 1:48 Next, Kirsten and Jessica discuss how an attestation clause (witness statements under penalty of perjury) helps ensure the will is recognized by the court. 3:45 If your will is holographic (entirely handwritten), it requires an additional step: someone familiar with the testator's handwriting must confirm its authenticity. 6:37 If only a photocopy exists, the court may suspect the original was revoked or destroyed—making it crucial to keep track of the original.

In this episode of Absolute Trust Talk, host Kirsten Howe and associate attorney Jessica Colbert continue their deep dive into probate fundamentals by focusing on wills. They clarify what makes a will legally valid, why a handwritten (or “wet ink”) signature is still required, and how witnesses play a key role in safeguarding the document's authenticity. They also explore the differences between a holographic will and the more formal, witnessed variety. This insightful conversation offers a clearer view of one of the most essential components of the probate process.   Time-stamped Show Notes: 0:00 Introduction 1:24 Jessica defines a will as a written, hand-signed document created by the testator. 2:16 Next, Kirsten and Jessica discuss how a testator who cannot physically sign may use a mark or direct someone else to sign on their behalf. 2:36 Did you know just how important witnesses are in validating a will? Also, in California, an ink signature is still required. 3:14 Finally, Kirsten and Jessica explain holographic wills (fully handwritten) versus standard wills (requiring witnesses).

In this episode of Absolute Trust Talk, Kirsten Howe and Associate Attorney Ariana Flynn shine a light on the often misunderstood world of probate. They discuss why estate planners typically seek to avoid probate, the situations that make it unavoidable, and the key role of the personal representative—whether executor or administrator—in guiding the process. By exploring how the court appoints someone to oversee an estate, they underscore the importance of having a well-crafted plan in place. If you've ever wondered about the nuts and bolts of probate or questioned whether your own estate plan is up to date, this episode offers valuable clarity and peace of mind.   Time-stamped Show Notes: 0:00 Introduction 0:20 To get things started, Kirsten and Ariana explain why probate can be so costly and time-consuming and reveal why it's still sometimes necessary—especially when someone has passed away or become incapacitated. 1:44 Next, they address the common misconceptions surrounding probate and set the stage for this mini-series dedicated to probate basics. 2:20 Listen in as Kirsten and Ariana break down the role of a personal representative, clarifying how an executor differs from an administrator. 3:27 In this part of the show, they detail the formal process of becoming an executor or administrator, including the court petition requirements. 6:05 Finally, they explore the concept of a “special administrator,” explaining why this interim role might be needed in urgent circumstances.

In this episode of Absolute Trust Talk, Kirsten Howe and Jessica Colbert discuss the ongoing Los Angeles fires and offer practical advice on how to help victims without falling prey to scams. From identifying legitimate charities to safely navigating crowdfunding platforms, they outline actionable steps to ensure your generosity has a real impact. The episode also highlights essential disaster preparedness tips, including safeguarding your pets during emergencies. We're thinking of everyone and hope you all stay vigilant, give wisely, and can help make a meaningful difference in times of crisis.   Time-stamped Show Notes: 0:00 Introduction 0:53 To kick things off, we're discussing why scams skyrocket during disasters and how to protect yourself while helping support others. 2:13 Next, we highlight actionable tips for identifying trustworthy organizations, avoiding unsolicited donation requests, and recognizing red flags in emails, texts, and calls. 5:18 Press play now to hear more about the risks of platforms like GoFundMe and how to verify campaigns to ensure your donations actually help the intended cause. 8:28 Listen in as Kirsten and Jessica talk about why financial donations are often the best way to help—and how to ensure your gift is tax-deductible and goes to legitimate causes. 10:03 Kirsten shares practical tips for pet owners, including microchipping and emergency planning, along with heartwarming stories of reunifications. 12:45 Our final call to action: Stay vigilant, protect your generosity from scams, and be part of the solution.

If you've been following the news lately, chances are you've heard of Luigi Mangione, the man at the center of recent headlines for allegedly shooting UnitedHealthcare CEO Brian Thompson. While the criminal case has drawn widespread attention, what caught our interest is a surprising detail about Mangione's personal life: he's reportedly listed as a beneficiary in his wealthy grandmother's estate. Even more intriguing, the will allegedly includes a precatory clause—or “wish language”—suggesting that beneficiaries charged with a felony could forfeit their inheritance.    In this episode of Absolute Trust Counsel, host Kirsten Howe and attorneys Jessica Colbert and Ariana Flynn dive into the concept of precatory clauses, their potential legal implications, and what this could mean for Mangione. Don't miss this fascinating discussion!    Time-stamped Show Notes:   0:00 Introduction 1:40 Unpacking Luigi Mangione's Inheritance: Discover how Luigi Mangione's grandmother's estate entered the spotlight and why estate planners like us find it so intriguing. 2:25 Has anyone actually seen a copy of the will? We reveal what sources are saying and why there's still plenty of missing information. 3:38 A term every estate planner (and beneficiary) should know is Precatory Language. We break down what it means and how it can affect your inheritance. 4:50 If you rely on non-binding language in your will, you could invite costly disputes among your heirs. Next, we explain how to avoid this pitfall. 6:48 With limited information available, we still offer insights into what might happen next with Luigi's share—and how you can protect your own estate from similar issues. 7:22 Thanks for joining us on this deep dive into estate planning and real-life drama. We hope you enjoyed it and picked up tips for your own estate plan. Stay tuned for our next episode!

Welcome back to Absolute Trust Talk for Part 2 of our exciting deep dive into estate litigation with our associate attorney and former litigator, Ariana Flynn! In this episode, we're exploring the steps you can take to prevent challenges to your estate plan after you're gone. Ariana shares valuable insights from her experience, including how writing explanatory letters to explain tough decisions and how receiving a neuropsych evaluation can also make a difference. We also discuss how working closely with your estate planner can help protect your wishes, with tips on handling co-trustees and ensuring your plan is rock solid. If you want to avoid potential litigation and secure your legacy,  then this is an episode you won't want to miss!   Time-stamped Show Notes:   0:00 Introduction 0:55 Should you be worried about someone disputing your estate plan? Here's what our former litigator, Ariana has to say. 3:09 Completing a neuropsych exam could help if someone attempts to claim the decedent was mentally incapacitated. Listen in as we discuss. 4:52 When it comes to litigation, an attorney's testimony is highly important. Tune in at this moment as we explain what you should do, as well as the extra precautions we take for you. 7:24 As estate planning attorneys, it's our job to be as thorough as possible. Here's a sneak peek of what that can look like. 7:51 Is having co-trustees really that bad?  Ariana shares the truth about how this decision can leave a lasting impact. 10:08 We hope this episode was just as eye-opening for you as it was for us. Be sure to tune in next time!  

In this episode of Absolute Trust Talk, managing attorney Kirsten Howe welcomes associate attorneys Jessica Colbert and Ariana Flynn to discuss common issues in trust and estate litigation. Drawing from her experience as a litigator, Ariana highlights three major themes that often arise in family disputes over estates: undue influence, lack of capacity, and complex family dynamics. These challenges can lead to costly and emotional battles over a loved one's assets, making it crucial for individuals to understand the potential pitfalls. Tune in to hear valuable insights on how to navigate these difficult topics and prepare for the future. Plus, stay tuned for our next episode, where we'll continue this crucial conversation!   Time-stamped Show Notes:   0:00 Introduction 1:30 Ariana starts us off by sharing the most common family litigation issues. 2:45 In this segment, we discuss the most common issue: Undue Influence—what is it and how does it happen? 5:58 Not all influence is considered undue influence. If you're as curious as we were to discover where that line is, tune in here! 6:35 Another common issue we see is a lack of capacity. Press play here to find out how this can be a major issue in estate planning. 7:30 Anyone can file a lawsuit at any time. Keep an eye out for our next episode where we'll explore the details of such a scenario.

In this episode of Absolute Trust Talk, host Kirsten Howe welcomes back accomplished estate planning attorney and litigation expert Ruth Kohler Burke for part two of their deep dive into community vs. separate property in estate planning. Together, they unravel the complexities of property characterization and highlight how proper planning can save you from expensive, stressful situations. From intestacy horror stories to blended family challenges, Ruth shares real-world examples and valuable insights gained from her 25+ years of experience, including representing Fortune 500 companies. Whether you're managing family dynamics, navigating divorce, or ensuring your legacy, this episode provides actionable advice to help you avoid estate planning pitfalls.   Time-stamped Show Notes:   0:00 Introduction 1:10 Welcome back, Ruth Kohler Burke! We're kicking off the conversation with why property characterization matters when someone dies without an estate plan. 2:31 Why is differentiating separate and community property from each other so critical? Understanding this distinction is key to effective estate planning. 5:09 What happens when a minor inherits property? Let's dive into the complications and the role of guardianship.   6:20 Horror story: Avoid this estate planning nightmare! Listen as Kirsten and Ruth talk about an example of intestacy gone wrong and how it could have been prevented 7:50 Sometimes, separate and community property isn't a simple black-and-white matter. Here's what you need to know. 10:32 Key takeaway: Don't die intestate—the essential advice to avoid unnecessary complications for your loved ones. 11:40 We hope you enjoyed this episode with our special guest, Ruth Koller Burke!    Get in Touch with Ruth! Koller Herlihy LLP http://www.khtrustlaw.com Email: rkoller@khtrustlaw.com Phone: (925) 954-1268

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.

In this special Absolute Trust Talk episode, Kirsten Howe and associate attorney Jessica Colbert step into the captivating world of celebrity estates, taking a closer look at the probate of O.J. Simpson. Unlike traditional probates, where assets are distributed to heirs, O.J.'s estate paints a very different picture—one dominated by overwhelming debts, including a $117 million judgment. From the auctioning of memorabilia to an intriguing home equity dispute, this episode uncovers the complexities faced by executors in balancing creditors' claims and legal obligations. Whether you're a legal enthusiast or just curious about the challenges of high-profile estates, this episode is an entertaining and insightful dive into the world of probate law. Tune in to discover what happens when there's nothing left for the heirs—and how even celebrity estates must follow the same rules as everyone else.   Time-stamped Show Notes:   0:00 Introduction 2:04 Learn about the executor's efforts to auction O.J.'s personal belongings, from memorabilia to household items, and the challenges involved in organizing the sale. 3:34 Next, we dive into the details of the executor's attempt to include home equity in the estate, despite complications involving a property jointly owned by O.J. and his son. 5:38 Discover the role of O.J.'s pour-over will and the trust it references, and why certain details of his estate remain private. 6:40 Kirsten and Jessica reflect on the unusual nature of this case and its educational takeaways, teasing more engaging episodes to come.

Trustees, are you confident you've completed all your legal responsibilities? This final, crucial question is one every trustee should ask—but the answer is rarely simple. In this episode of Absolute Trust Talk, host Kirsten Howe and associate attorney Jessica Colbert delve into the often-overlooked legal notices trustees are required to send before making final distributions. They discuss the critical 120-day notice to trust beneficiaries and heirs, informing them of their rights to contest the trust. They also cover essential notifications to the Department of Health Care Services and the county assessor's office. Missing these steps might seem minor, but they can lead to significant delays and legal complications. Tune in to learn more about these requirements and why addressing them early is essential for a seamless trust administration.   Time-stamped Show Notes: 0:00 Introduction 1:15 Picking up from our previous episode with the fourth and final question for trustees: “Have I done everything I'm required to do?” 2:00 Next, let's explore the first of several common notices that trustees often overlook. 2:30 The 120-Day Notice to Beneficiaries and Heirs: Why this written notice is crucial and its specific language requirements. 3:38 There are beneficiaries, and then there are heirs. Here's what you need to know about notifying each as a trustee. 5:00 Have you filed a notice to the Department of Healthcare Services? We discuss why it's an important step, even if you believe it doesn't apply. 6:30 If the decedent owned any real estate, you'll need to submit this to the county assessor's office. Listen in for more details. 7:10 The final takeaway: Ask the questions we covered today sooner rather than later to avoid complications.

Being named a trustee is a significant responsibility that demands careful attention, time, and effort—and missing critical steps can lead to complex legal consequences. In this episode of Absolute Trust Talk, host Kirsten Howe and associate attorney Jessica Colbert delve into real-life cases where trustees overlooked essential duties. They discuss three crucial questions every trustee must ask before making final distributions:   1.     Have I done everything necessary concerning income taxes? 2.     Is there a supplemental property tax bill coming? 3.     Do I need to provide an accounting to the beneficiaries?   With practical guidance on navigating these often-missed steps, Kirsten and Jessica equip trustees with the knowledge to handle their responsibilities smoothly and avoid personal liability. Whether you're a current trustee or might become one in the future, this episode is packed with essential insights you won't want to miss.

A significant shift in California probate law is on the horizon, promising to make estate transfers more accessible for many homeowners. In this episode of Absolute Trust Talk, host Kirsten Howe and associate attorney Jessica Colbert delve into a game-changing legislation effective April 1, 2025. This new law allows for a simplified transfer of primary residences valued up to $750,000 to heirs—without the need for probate or a formal estate plan. They discuss how this expansion of the small estate affidavit and petition procedures can ease the burden on families, making property transitions faster and less complicated. Tune in to learn how these upcoming changes might impact you and your loved ones.   Time-stamped Show Notes:   0:00 Introduction 0:58 Discover how the 2025 revisions to the small estate affidavit could benefit you and streamline estate transfers.  3:10 Navigating Estate Transfers Under the New Law: Listen as we break down the process of how estate transfers will work with this legislative change. 4:00 Even with increased limits, a small estate affidavit option may not suit everyone. 5:20 Thank you for listening. We look forward to connecting with you in our next episode!

In the third episode of their probate alternatives series on Absolute Trust Talk, host Kirsten Howe and associate attorney Jessica Colbert delve into two streamlined legal procedures that help families avoid the costly and time-consuming probate process when transferring small real estate estates in California. They explain an affidavit procedure for properties valued under $61,500 and a petition for determining succession to property for estates under $184,500. The discussion covers the requirements for each method, including waiting periods, the role of a probate referee, and when each procedure is applicable. This episode offers essential insights into navigating these simplified legal paths. Plus, stay tuned for a sneak peek into significant probate law changes coming in 2025.   Time-stamped Show Notes:   0:00 Introduction 0:55 A small estate affidavit only covers personal property. However, there is another way to bypass probate, even with property—listen in! 2:15 A small estate affidavit requires the appraised value of the property to be less than $61,500. Learn more about the requirements here. 2:52 What is a probate referee, why do you need to know, and who can be one? 4:22 Looking for a non-probate alternative that allows for an estate worth over the $61,500 threshold? Consider a succession petition. 7:24 We're expecting legal changes next year concerning probate and personal residence.

In this episode of Absolute Trust Talk, Kirsten Howe and associate attorney Jessica Colbert delve into the spousal property petition, a vital tool that offers a faster and more cost-effective way for surviving spouses to claim assets from a deceased spouse's estate. They break down the legal nuances, sharing practical examples of how this process works and how it can sometimes be used even after both spouses have passed away. With real-world scenarios and expert advice, this episode sheds light on probate alternatives that can ease the estate administration process for families. Whether you're dealing with estate planning or curious about alternatives to probate, this episode offers invaluable guidance.   Time-stamped Show Notes:   0:00 Introduction 1:30 Spousal Property Petition Explained: Jessica introduces the spousal property petition, explaining how it helps surviving spouses claim assets while avoiding the complexities of probate. 3:15 Learn how a spousal property petition differs from a small estate affidavit, particularly with no asset value limits. 4:20 Jessica shares a case example where the petition was used by a surviving spouse's representative, simplifying a complex estate situation. 6:00 Closing Thoughts: Kirsten and Jessica discuss their passion for solving complex cases like puzzles, and how their legal expertise helps families find the most efficient solutions.

Navigating the probate process can feel overwhelming, so what if there was a way to avoid it entirely? In this episode of Absolute Trust Talk, associate attorney Jessica Colbert and managing attorney Kirsten Howe introduce the small estate affidavit—an often overlooked yet highly effective tool for bypassing probate when certain conditions are met. Together, they break down what it takes to qualify for this process, explain how it works to transfer personal property without court involvement and point out some important details and potential challenges. Don't miss this insightful conversation that can make estate planning more manageable, quicker, and less stressful. Listen now!   Time-stamped Show Notes:   0:00 Introduction 0:45 Understanding the Small Estate Affidavit: What it is, how it works, and how it helps avoid probate. 2:20 Did you know? The total value of assets must be less than $184,500 to use a small estate affidavit. 3:12 Next, we're discussing the eligible signers responsible for signing the small estate affidavit and ensuring compliance. 5:47 Don't forget this important document: A certified copy of the death certificate is essential to the process. 6:30 Can a bank refuse to honor a small estate affidavit? Discover what happens when an institution refuses and how to address it. 8:24 Thanks for tuning in! Next time, we'll dive into another probate alternative, available only to surviving spouses.  

Welcome back to Absolute Trust Talk! In this exciting episode, associate attorney Jessica Colbert steps into the spotlight for the first time, accompanied by managing attorney Kirsten Howe. Together, they continue the series AB Trusts: Do You Have One? Do You Need One? This episode uncovers the surprising reason many couples have AB trusts without realizing it, and what steps you should take if you find yourself in this situation. You'll also learn why it might be time to reconsider an AB trust, especially if you are the surviving spouse and want to make changes. Don't miss out on this crucial discussion!   Time-stamped Show Notes:   0:00 Introduction 0:57 Many couples have an AB Trust structure and don't even know it. In this segment, we explore why this situation is so common. 2:11 Here are two reasons why you may no longer need an AB Trust structure. 2:54 Thinking about updating your trust? The first step is to talk to your attorney. 4:00 An AB Trust only becomes “irrevocable” once a spouse dies, so it's important to make any changes now while you still can. 4:52 Is "irrevocable" truly unchangeable? Listen as we explore what "irrevocable" means in practice and the options available to modify the trust.

Welcome back to Absolute Trust Talk with Kirsten Howe and associate attorney Jessica Colbert! In this second episode of our AB Trust series, we dive into a vital question: Will your wishes truly be honored? While AB Trusts are a common estate planning tool for couples, they have potential challenges. One significant issue is when the deceased spouse's wishes are unintentionally—or even deliberately—overlooked or altered. Tune in as we explore how and why this happens and, more importantly, what steps you can take to ensure that your estate plan works exactly as intended.   Time-stamped Show Notes:   0:00 Introduction 0:20 Recap: A quick refresher on what AB Trusts are and why they're such a critical part of estate planning for many couples. 1:07 Many couples believe their AB Trust fully protects their estate, but here's why that might not be the case—and what you should look out for. 1:56 Concerned about how your trust will be managed after you're gone? Discover key safeguards that can help protect your estate plan from unwanted changes. 2:48 When is it time to consider hiring a professional trustee? This segment breaks down the scenarios where expert help is essential. 3:23 The bottom line: Every estate plan is unique. Be sure to consult with your attorney to ensure your AB Trust is tailored to your specific needs and offers the right protections for your family.

Married couples, is your AB trust still serving your needs, or has it outstayed its welcome? In this episode of Absolute Trust Talk, Kirsten Howe and associate attorney Jessica Colbert take a closer look at AB trusts, a once-standard estate planning tool. They discuss when an AB trust makes sense and when it might just add unnecessary complexity and cost. Tune in as they explain the key benefits of asset control after death, while also considering the downsides, such as tax filing requirements and maintenance expenses. Whether you're revisiting an existing trust or planning for the future, this episode offers practical advice to help you make informed decisions.   Time-stamped Show Notes: 0:00 Introduction 1:07 What exactly is an AB Trust? We break it down here. 2:47 Understanding how an AB Trust works. You may have heard it called something else. 4:18 Why might a surviving spouse want control over the decedent's trust? Here's how AB Trusts make that possible. 5:35 The downsides of an AB Trust: from annual tax returns to high maintenance costs. 6:29 Could there be a simpler alternative? We discuss potential options.

In this episode of Absolute Trust Talk, Kirsten Howe and associate attorney Jessica Colbert continue their in-depth discussion on selecting a successor trustee, with a focus on third-party options. They explore key considerations when choosing a licensed professional fiduciary, breaking down the advantages and potential drawbacks of this option. Additionally, they provide insights into other alternatives, such as corporate trustees. Whether you're making this decision for the first time or revisiting your estate plan, this episode offers practical advice to help you choose the best trustee for your unique needs. Tune in now for expert guidance!   Time-stamped Show Notes: 0:00 Introduction 0:40 What is a Third-Party Trustee? Kirsten and Jessica explain the role of third-party trustees, focusing on licensed professional fiduciaries and why they might be a great option for your estate plan. 1:53 Curious about the advantages of naming a licensed professional fiduciary as your trustee? This segment highlights the key reasons why it could be the right choice for you. 4:19 Every option has pros and cons—here's what you need to consider when thinking about selecting a licensed professional fiduciary. 5:48 If family members or third-party trustees aren't ideal, there's another route: corporate trustees. Learn why this might be a good alternative. 8:43 Key Takeaways in 60 Seconds: Pressed for time? Get the most important advice from this episode in just one minute.

Are you considering naming a child as your successor trustee? In this episode of Absolute Trust Talk, host Kirsten Howe and associate attorney Jessica Colbert explore the pros and cons of selecting a child for this crucial role. They break down key factors, including whether to name one child or multiple children as co-trustees, and the potential challenges that can arise, from sibling dynamics to administrative complexities. Tune in to gain valuable insights and ensure you make an informed decision about your trust's future.   Time-stamped Show Notes: 0:00 Introduction 1:45 What's better—naming one or multiple children as your successor trustee? We discuss the pros and cons, starting with the advantages of naming just one child. 3:40 There are potential downsides to naming a child as your successor trustee. 5:42 After discussing the issues with naming just one child as trustee, here's what to consider when naming multiple children as co-trustees. 6:55 Can siblings truly collaborate effectively as co-trustees? Hear our thoughts in this segment.

Are you prepared to name a successor trustee in your estate plan? Don't worry if you're unsure—this episode of Absolute Trust Talk will guide you through the process. We'll break down the most important traits to look for in a successor trustee, such as trustworthiness, reliability, and the ability to seek professional advice when needed. Plus, we'll share common pitfalls to avoid so you can make the best choice for your family's future.   Time-stamped Show Notes:   0:00 Introduction 0:50 What is a Successor Trustee, and why is naming one essential for your estate plan? 1:37 Trustworthiness is a critical quality when naming a successor trustee. Learn why it's so important. 2:30 The next trait to consider in a successor trustee is often underestimated. 3:05 Does your successor trustee need to live nearby? The answer might surprise you. 4:20 We've covered the must-have qualities, but here's a major red flag to avoid: Ego.

Have you ever faced the frustrating challenge of accessing a loved one's bank account after their passing? You're not alone. In this episode of Absolute Trust Talk, Kirsten Howe and associate attorney Jessica Colbert break down the complexities of this process into simple, actionable steps. They explain the different types of account ownership—whether joint, trust-held, or individual—and guide you through the specific steps required to gain access to each. Plus, they debunk the common misconception that a Power of Attorney can be used after death, highlighting why it's not only ineffective but illegal. Whether you're managing a joint account, a trust, or an individually owned account, this episode provides the practical advice you need to navigate these tasks smoothly and avoid costly complications.   Time-stamped Show Notes:   0:00 Introduction 0:40 What happens to a decedent's bank account after they die? The process depends on how the account was held. 2:25 In this segment, we dive into the steps you can take to legally access a loved one's joint bank account after they pass away. 3:08 Accessing a Pay on Death (POD) account follows a process similar to joint accounts. Here's what you need to know. 3:40 Is the bank account titled in the decedent's trust? If so, there's a different process you need to follow. 4:35 Now for the complicated one: The decedent owned their bank account outright. Here's what to do. 6:00 Did you know that if the total value of the decedent's bank account is less than $184,500, you might be able to avoid probate?

Navigating estate planning as a surviving spouse can be complex, especially when dealing with the intricacies of an A-B trust. In this episode of “Trustee and Executor Responsibilities: Best Practices and Pitfalls,” Kirsten Howe and associate attorney Jessica Colbert focus on the A-B Trust—an estate planning tool that was once commonly used to minimize estate taxes but is often misunderstood today. They explain what an A-B Trust is, why it's important to address the trust split promptly after a spouse's passing, and the complications that can arise if it's delayed. Whether you're a trustee, executor, or simply looking to better understand how to protect your assets, this episode offers clear, practical advice to guide you through the process. Tune in to learn the essential do's and don'ts for surviving spouses handling an A-B trust.   Time-stamped Show Notes:   0:00 Introduction 1:11 Curious about how an A-B Trust works? Press play here for a straightforward explanation. 1:52 Did you know an A-B Trust might not be the best tool for avoiding estate taxes? 3:14 Ever heard of a “stale trust”? This is what happens when you wait too long to address your trust after a loved one passes. 4:14 If you have an A-B Trust, splitting it when your spouse passes is required—but there is a potential workaround. Learn more here.

Taking on the role of a trustee or executor can be daunting—and for good reason! With so many responsibilities and legal requirements, checking all the necessary boxes can feel overwhelming. In this episode of Absolute Trust Talk, we continue our discussion on trustee and executor duties, focusing on the critical importance of notices. For instance, the trustee's or executor's responsibility is to ensure that all beneficiaries and heirs are properly notified of the decedent's passing. And that's just the beginning. If you've recently been named a trustee or executor, you won't want to miss the valuable insights in this episode. Tune in now!   Time-stamped Show Notes:   0:00 Introduction 1:40 Did you know that when someone passes away, a notice must be sent to beneficiaries and heirs? 3:20 An often overlooked but essential notice must be sent to the Department of Health Care Services, even if the deceased wasn't receiving Medi-Cal. 5:20 If the estate includes real property, notifying the assessor's office is a must. Press play now for what you need to know. 6:18 What if there are multiple properties spread across different counties? Listen in for Jessica's key tip on handling this situation.

When asked to be a family member's trustee or executor, it's easy to immediately say yes out of love and a sense of duty. It's just some paperwork, right? How hard could it be? At Absolute Trust Counsel, we've seen the struggles trustees and executors face, particularly when they are family members. The role involves a heavy workload, significant responsibility, and the meticulous task of bookkeeping—often the most daunting part.   It's easy to overlook these critical aspects, which is why our goal for this episode of Absolute Trust Talk is to ensure you're fully informed. Whether you're currently serving as a trustee or executor, planning to take on the role, or considering appointing someone yourself, this episode is not to be missed.   Time-stamped Show Notes:   0:00 Introduction 0:40 Jessica begins by explaining the nuanced differences between a trustee and an executor, clarifying the roles of executor and administrator in this context. 1:50 Common misunderstandings arise about family members appointed as trustees or executors, particularly the amount of work involved. 3:22 Jessica highlights the significant level of responsibility that trustees and executors must shoulder. 4:40 While the workload and responsibility are critical, there's one particular challenge that stands out above the rest. Here's what you need to know. 7:12 We conclude by encouraging all trustees and executors to take these lessons to heart, ensuring they are fully prepared for their roles.

Can you avoid probate without a trust? The short answer is yes, but the alternatives can have risks and offer limited control over your assets. In this episode of Absolute Trust Talk, Kiersten Howe and associate attorney Jessica Colbert explore various probate-avoidance strategies, including beneficiary designations, transfer-on-death accounts, and joint ownership. Tune in to gain valuable insights, understand the drawbacks of these methods, and discover more secure ways to prepare for death or incapacity while minimizing risks.   Time-stamped Show Notes: 0:00 Introduction 1:00 There are a few options for avoiding probate without a trust, but we don't recommend going an alternative route unless there are extenuating circumstances. 3:00 One common method is a Transfer-on-Death account, but this type can have many issues. Listen in to learn why. 4:56 Another way to bypass probate without having a trust is through Assets Owned in Joint Ownership. Here's what you need to know. 6:53 One consideration often overlooked is incapacity planning - a key aspect of estate planning and another reason we don't like using the Transfer-on-death method. 8:15 Final takeaway: Most of the options for avoiding probate without a trust come with risks because they neglect to consider many common circumstances in future planning.

Navigating the administration of a life estate trust with real property can be a complex task. In this episode of Absolute Trust Talk, Kirsten Howe is joined by Karen Fisher and Kathy Rodriguez of Bishop Fiduciary Services to delve into the intricacies of life estates involving real estate. They cover the unexpected responsibilities of a trustee, strategies for properly dividing assets, and essential tips to set up your trust for success if you own property. Whether you're crafting your estate plan, managing one for someone else, or potentially inheriting one, this episode is packed with valuable insights you won't want to miss.   Time-stamped Show Notes:   0:00 Introduction 2:36 Being a trustee comes with a wide range of responsibilities. One important aspect is to examine the terms of the trust to determine what the life estate beneficiary and trustee are responsible for. It's also very important to consider liquidity. 7:58 What if a beneficiary wants a portion of the trust to go toward their inheritance? Short answer: Trust the trust. 10:30 Many questions and concerns about the property can be eliminated by one action: Getting an appraisal. 11:30 Interested in the appraisal process? Tune in now as Karen and Kathy break it down for us. 16:45 We asked our guests what they wished their client's trust included. Here's what our experts had to say about trust inclusions.   17:52 Karen's time- and money-saving advice: Don't wait to downsize. 19:00 Thank you to our amazing guests, Kathy and Karen, for sharing such great insights with us!

Managing a trust can be challenging, especially when it involves real estate assets. In this episode of Absolute Trust Talk, host Kirsten Howe welcomes Karen Fisher, founder of Bishop Fiduciary Services, and Kathy Rodriguez, a licensed professional fiduciary and co-trustee with Bishop Fiduciary Services. Together, we will explore the complexities of life estates and trustee responsibilities and the essential steps for protecting and maintaining real estate assets, from securing insurance and handling maintenance to addressing unique challenges faced by elderly inhabitants. Karen and Kathy also highlight the critical differences between professional fiduciaries and family member trustees. Tune in to gain valuable insights and hear real-life examples that will help you manage these responsibilities with confidence. Time-stamped Show Notes: 0:00 Introduction 1:18 Please join us in welcoming Karen Fisher and Kathy Rodriguez of Bishop Fiduciary Services! 3:20 To help get us started, Karen and Kathy define what a licensed professional fiduciary does and why they are unique to the estate planning and administrative world. 6:00 Why is it so crucial to evaluate the condition and value of property in a trust? 9:25 There are countless things to think about when you're in charge of someone else's real estate. Here are a few you might not have considered. 13:50 Estate planning can involve some tough conversations. Hear how Karen and Kathy handle these sensitive topics with senior homeowners. 15:50 As professional trustees, Karen and Kathy think about things that family-appointed trustees might overlook, like fire hazards or fall risks. Let's dive into that. 16:35 What should a trustee do when they're responsible for a home that's empty? 19:10 Storytime! Listen to this wild tale about professional squatters moving in overnight. 20:30 Thanks so much to Karen and Kathy for their amazing insights. We can't wait for Part 2 of this conversation!    

To all of our local Bay Area listeners, you may have heard about the recent story of a three-bedroom house listed for $488,000 in San Francisco's Russian Hill with a tenant renting it for only $417 a month. How is that even possible?! If you're as intrigued as we are, stick with us for this episode of Absolute Trust Talk, where we will be dissecting this situation with associate attorney Jessica Colbert. Listen in as we explore crucial lessons in trust management, the impact of California's Prop 19 on property taxes, and the importance of updating estate plans as circumstances change. There's so much wisdom to take away from this episode, so don't miss out! Time-stamped Show Notes: 0:00 Introduction 1:01 Here's what we know about the situation around the San Francisco Russian Hill house listed for $488,000. 6:23 What happens to a family home after the homeowner dies can be a difficult thing to navigate. We suspect a few specific issues present in this unique case, including the potential for undue influence. Listen in as we discuss! 9:39 Next, Kirsten and Jessica discuss a few ways the grantor could have avoided the issues seen in the Russian Hill case. 11:47 Under Prop 19, homeowners can pass their homes down to their children without increased property taxes as long as the children make it their primary residence. If Prop 19 had been considered in this scenario, it could have prevented several issues. 15:04 If there is one lesson to take away from this episode, it's this: When circumstances change, talk to your attorney about how it might affect your estate plan and adjust accordingly.

We've all heard the saying, “Don't put all your eggs into one basket,” which rings true for building your portfolio. The ideal portfolio consists of more than stocks and bonds – it includes Alternative Investments, like real estate, drilling funds, and value adds. In this episode of Absolute Trust Counsel, certified financial planner Miguel Delgado joins us for a third installment of our financial planning discussion to take a deep dive into this invaluable topic. Together, we'll discuss the benefits of Alternative Investments, the different types, how to qualify, and how you can get the most out of them. These strategies include qualified opportunity zones (QOZ), 1031 exchanges, and so much more. Don't miss out - tune in now!   Time-stamped Show Notes: 0:00 Introduction 1:33 We've all heard the saying, “Don't put all your eggs in one basket,” so to start us out, we're discussing asset diversification and what it truly means. 2:51 Having a diverse mix of stocks and bonds can lessen your risk to an extent, but at the end of the day, they all belong to the same asset class. That's why, in this segment, we explore Alternative Investments. 5:40 What makes alternative investments less volatile? They're not affected by the same risks as publicly traded markets, like stocks and bonds. 8:37 Not everyone qualifies for Alternative Investments. Here's what you need to know. 11:15 Why are Alternative Investments crucial for a portfolio? The number one reason is spreading out risk. 13:09 Press Play as we explore some Alternative Investments and their benefits, starting with drilling funds. 15:37 A Qualified Opportunity Zone (QOZ) investment allows you to defer taxes for an event where capital gain is triggered. 18:35 A QOZ investment and 1031 Exchange are similar but have key differences. Listen in for everything you need to know. 20:41 While QOZ investments and 1031 Exchanges can both be used on real estate assets, one could be preferred over the other, depending on the circumstance. Here's why. 22:47 Thank you, Miguel, for sharing your incredible insights with us!

In our latest episode, we welcome back Miguel Delgado, Senior Wealth Advisor at Legacy Wealth Management. Miguel previously offered an excellent inside look at financial planning for small businesses, and his insights were so valuable that we knew we had to have him on again. This time, we're diving deeper into the challenges that businesses often face, challenges that might need to be added to your radar. For instance, how can you improve employee retention? And for all the business owners out there, do you have a buy-sell agreement in place in case a co-owner decides to exit the business? Tune into this episode of Absolute Trust Talk to learn from an expert in the field. Miguel's wisdom could be the key to enhancing your own financial and business planning strategies.   Time-stamped Show Notes: 0:00 Introduction 1:37 We're thrilled to welcome Miguel Delgado back to the show as we continue discussing building business longevity. 7:31 Need help with employee retention? Listen now for some fantastic recommendations that can help you keep your team happy and engaged. 9:20 Ever heard of a Golden Parachute Plan? Discover this unique incentive that isn't required for all employees but can significantly boost retention. 11:48 Looking for high-value, low-cost employee benefits? Don't miss this segment, where we discuss options that benefit you and your employees. 13:14 What happens when business owners lack a buy-sell agreement? Miguel sees this issue frequently. Press play to learn what you can do to prevent potential problems. 18:16 Disability buyout insurance—ever heard of it? Neither had we, but it could be a game-changer. Find out if it's worth considering for your business.

Are you a business owner or partner? If so, you don't want to miss this episode of Absolute Trust Talk! We're exploring all things financial planning for business owners so you can transform your business success into personal wealth. Joining us is Miguel Delgado, Senior Wealth Advisor at Legacy Wealth Management, who specializes in tax minimization, asset protection, and fulfilling personal passions. Together, we'll discuss ways you can maximize your savings, secure your assets, and plan for a successful, stress-free retirement. You can even apply some of these tips to your plan today, so let's get started! Time-stamped Show Notes: 0:00 Introduction 0:15 Meet our special guest today, Miguel Delgado, Senior Wealth Advisor at Legacy Wealth Management. 1:48 To get things started, Miguel shares why he likes working with business owners. 3:56 When it comes to helping business owners with wealth management, there are some “low-hanging fruits” that can make a big difference, like looking at tax planning, taking advantage of HSAs, and considering upgrading their CPA. 7:32 How your business is registered can also play a role in your wealth management. Learn more in this segment. 8:57 If you have a partner or partners in your business, have you reviewed your legal agreements lately? 10:04 We see it all the time – the business is profitable, but the owner doesn't keep much of the profit for themselves. Miguel shares key insights on why this happens and how to avoid it. 14:27 When financial planning with business owners, the key is understanding goals and objectives. Here's what should be considered. 17:17 Thank you, Miguel, and we can't wait to have you again on our next episode!

Have you ever considered what would happen to your children if you passed away? It can be daunting and hard to think about; no one wants to plan for the possibility where they aren't around to see their kids grow up. We often talk to clients who follow that old superstition that if they don't think about it, then it won't happen to them, so why plan, right? In our opinion, that isn't the best course of action. While it's rare for a child to lose both parents and be taken in by a guardian, it does happen, and it's crucial to be prepared. Fortunately, guardianship is an element you can include in your estate plan and a planning element you should take action on. In this episode of Absolute Trust Talk, we're joined by Lara Heisler, a seasoned Bay Area attorney with over 25 years of experience specializing in conservatorships and guardianships. Together, we'll cover everything from the legal responsibilities of a guardian and the process of becoming one to how to have essential conversations with your family and avoid the risk of foster care. If there's one key takeaway from this episode, it's this: The more uncomfortable family conversations you have when life is comfortable, the better prepared you'll be when life gets challenging. Let's get started! Time-stamped Show Notes: 0:00 Introduction 0:55 Please join us in welcoming Lara Heisler to the show! 3:02 Guardianship – It's a term we've all heard, but not everyone knows what it truly means. Here's what you need to know. 4:55 How can someone obtain guardianship of a child? 8:43 In this segment, we examine an extreme guardianship case and then discuss some of the more common guardianship scenarios. 11:43 When nominating family members for guardianship, it's essential to explain your reasons for doing so, so they aren't left guessing. 17:03 It may also be important to name people you don't want as your child's guardian. 19:04 When it comes to guardianship, who steps into the role first matters, especially under extreme circumstances like the court case discussed. 21:16 “What happens if…” It's a conversation none of us want to have with our family and kids, but here's why you should. 26:18 While parents of children under guardianship still have many rights, enforcing those rights can be challenging. 28:40 Have you ever wondered about the visitation rights of grandparents and other family members of a child under guardianship? Lara will answer all your questions here. 30:36 Next, we'll discuss the procedures for ensuring the child's wishes are considered in a guardianship case. 33:48 In this segment, we explore what happens if a child has no relatives in the US and what you can do to prepare for this situation. 37:41 While conservatorship does not provide long-term oversight, the courts have a rigorous process to ensure the guardian is someone the child will be safe with. 40:08 If there's one piece of advice you should take away, it's this: The more uncomfortable family conversations you have when life is comfortable, the better off you are when life gets very uncomfortable.

If you missed the first episode of our "Character Matters" mini-series, we discussed the differences between Community and Separate Property and why the "character" of your assets matters in estate planning. As a quick recap: Separate Property includes assets owned before marriage or received as gifts or inheritances during marriage, while Community Property consists of assets acquired during the marriage. Now, as we start Part Two, we're delving into the deeper details of property types and how specifically to estate plan for each of them. Join us as we explore important topics such as whether you should consider a pre- or postnuptial agreement, what to consider when signing one, and how the process works. Whether you're single, married, or even remarried, this episode is a treasure trove of valuable information, so don't miss out! Time-stamped Show Notes: 0:00 Introduction 0:45 We're getting straight to the point: Character matters when estate planning because you can't give away what's not yours. Sounds simple, right? 2:55 If you're interested in estate planning for your second marriage, you'll want to listen to this portion as we discuss how the type of asset affects what you can do with it. 4:01 Even though you can't personally choose whether an asset is legally considered Community or Separate Property, you can change its character. Here's how. 5:39 Is a prenuptial agreement right for you? Here's an example of when you might want to consider one and what you can include. 6:41 Postnuptial agreements can also be an option if you're already married. If you're doing your estate planning with us, we'll work with a family law attorney who can help navigate the process.

Did you know that in California, any property acquired while married is considered Community Property? This means that, regardless of who bought it, the ownership is split 50/50 in the case of divorce. It also means that if you die without valid estate planning documents, your spouse automatically receives 100% of the ownership. If we're talking about Separate Property, that's a slightly different story, and of course, there are always exceptions to the rule. This episode of Absolute Trust Talk kicks off our Character Matters series, where we're diving deep into the important distinctions between these two types of property and why you need to understand this for estate planning purposes. Let's get started! Time-stamped Show Notes:  0:00 Introduction 0:38 To start, we're sharing the “celebrity situation” that inspired this new Character Matters series of discussions.  2:26 Before going too far, let's clarify the basic definitions of our terms. Listen in to learn the key differences between Community Property and Separate Property.  4:35 While Community and Separate Property definitions are straightforward, some situations aren't. Here's a great example. 6:33 If you pass away without a valid will or trust, your Community Property automatically goes to your surviving spouse. But what about Separate Property? Here's what you need to know. 8:38 Did you know you can get a higher tax exemption with Community Property than Separate Property? 10:29 We get asked a lot about the pros and cons of getting married, and even though finances and assets probably aren't the main factors in determining your relationship, there may be some circumstances where they influence whether you should officially move forward.

When it comes to funding your trust with assets like cars, mobile homes, and boats, it can get a little complicated and confusing. For instance, do you know whether or not you need to retitle your cars to your trust? And when it comes to mobile homes, before you can even determine whether you should retitle it, you must first know if it's registered as a vehicle or a home. And what's recommended for cars and mobile homes differs completely from boats. In this episode of Absolute Trust Talk, we explore these topics in detail to answer some of our most commonly asked questions so you can be more knowledgeable about properly funding your trust. After all, your trust's effectiveness is directly tied to its assets. So, listen in now! Time-stamped Show Notes: 0:00 Introduction 0:36 The first asset we're starting with is cars. Should you retitle them? Here's what you need to know.  2:48 Bonus Tip: Here's a way to retitle your vehicle without visiting the DMV. 4:11 Mobile homes—are they a vehicle or a house? The answer varies, and therefore, so does how you include them in your trust. 9:24 If you have a boat and would like to include it in your trust, you don't want to miss this segment.