Podcasts about revocable

Your bad estate plan is going to cost you! In today's episode, Lauren Klein, a Florida-based tax and estate planning attorney, discussed the critical components of effective estate planning. She debunks myths about revocable trusts, touches on the importance of regularly updating estate plans, and shares on the unethical financial incentives some attorneys may have to let plans fall short. We also talk the strategic use of irrevocable trusts, asset titling, and state-specific protections like Florida's homestead laws for enhanced asset security. We discuss... Lauren Klein is a Florida-based tax, trust, and estate attorney who works nationally, helping clients with estate planning, probate avoidance, and tax strategies. Probate happens when someone dies owning assets solely in their name without a beneficiary or trust.  Probate adds stress during grief and often sparks disputes—especially if there's no clear plan or distant relatives get involved. Family fights usually come from unresolved issues, emotional baggage, or greed. Clear planning helps prevent conflict, though it can't always stop it. Many assume a will or trust avoids probate, but trusts must be properly funded—assets need to be retitled into the trust or have it listed as beneficiary.  The estate planning industry is too transactional—clients get documents but little follow-up. After a death, families often struggle to locate and transfer assets legally while grieving. It requires attorneys, paperwork, and patience. A common myth is that revocable trusts protect assets from taxes or lawsuits. They don't during your lifetime—but they help avoid probate and add control. Revocable trusts shine when passing assets to kids. They can protect inheritances from divorce or lawsuits and become irrevocable (and stronger) after death. Trusts are especially helpful for blended families and young kids. You can distribute assets in stages and add estate tax protection with proper planning. Irrevocable trusts offer stronger protections but are more complex and better suited for high net worth or special planning needs. Asset protection varies by state—Florida, for example, offers homestead and tenancy protections. Even how you title a car can matter. Retirement accounts and life insurance have some protection, but it depends on the state. Listing all assets is key to building a strong estate plan. Crypto is showing up more in estate planning. It requires special steps to protect and transfer securely. Today's Panelists: Kirk Chisholm | Innovative Wealth Barbara Friedberg | Barbara Friedberg Personal Finance Phil Weiss | Apprise Wealth Management Follow on Facebook: https://www.facebook.com/moneytreepodcast Follow LinkedIn: https://www.linkedin.com/showcase/money-tree-investing-podcast Follow on Twitter/X: https://x.com/MTIPodcast For more information, visit the show notes at https://moneytreepodcast.com/bad-estate-planning-lauren-klein-714 

Jonathan Feniak is a business attorney and the driving force behind LLCAttorney.com. After successful careers in logistics and finance, he became a licensed attorney at 45 to help make legal protection and business formation more accessible to entrepreneurs. Jonathan now helps clients across all 50 states establish LLCs, protect their assets, and structure their businesses efficiently—with a focus on practical, cost-effective solutions that deliver real protection.     Make sure to download our free guide, 7 Questions Every Passive Investor Should Ask, here. Key Takeaways Asset protection begins with proper business formation—but it doesn't end there. Many business owners form LLCs but fail to “respect” them by observing corporate formalities, rendering them ineffective in court. Wyoming is one of the best states to form a holding company due to privacy and strong charging order protection. Creating a holding company structure helps simplify asset management, estate planning, and liability isolation. Revocable living trusts are a low-cost way to ensure smooth inheritance without the burden of probate, especially across multiple states.     Topics From Corporate to Counsel: A Third Career Attorney Jonathan began in logistics (UPS, DHL), then transitioned to finance and wealth management. At 45, he pursued law full-time to combine strategic advising with legal structure and protection. His mission is to democratize access to real legal solutions—without the inflated price tag. What Most People Get Wrong About LLCs Forming an LLC is just step one—maintaining it properly is where most fail. Respect your LLC by: holding meetings, documenting decisions, separating finances, and keeping the business in good standing. Improperly managed LLCs are often disregarded by courts, leaving owners personally liable. The Power of Holding Companies Use a Wyoming LLC as a holding company for privacy, asset protection, and estate efficiency. Helps shield your name from public documents and reduces the impact of being linked to failed partnerships or lawsuits. Holding companies simplify asset transfers to heirs and reduce exposure to out-of-state probate. Estate Planning and Life Events Estate plans should be revisited every five years—or after any major life change (e.g., marriage, children, death, relocation). A revocable living trust paired with an LLC holding company offers clean transitions for heirs and minimal disruption. Overcomplicated estate plans often backfire; keep it simple and update as needed. Avoiding Snake Oil and Legal Overkill Many providers push unnecessary structures—like offshore trusts or layered LLCs—on inexperienced investors. Jonathan emphasizes reasonable, effective solutions tailored to the investor's current risk and net worth. Focus on clear, scalable strategies that grow with your portfolio.    

Do you really need an LLC for rentals? What about a trust? What kind of insurance should you get? With so many questions (and confusion) surrounding asset protection for real estate investors, we've brought on an expert to set the record straight so you can protect your assets—without going overboard or breaking the bank! Welcome back to the Real Estate Rookie podcast! Today, we're chatting with real estate attorney and fellow investor Bonnie Galam about the nuances of asset protection. The truth is that there are two sides to this coin, but most investors only focus on the defensive or “reactive” side. Bonnie will show you the keys to 360-degree protection—like setting up strong legal structures before problems arise and the essential documentation you should have from day one. You'll also learn about the potential pitfalls of equity partnerships, how personal events can put your properties at risk, and why car insurance and prenups matter more for your portfolio than you might think. Asset protection doesn't have to be complicated, but it does need to be strategic, and this episode will help you prioritize what's important now, what can wait, and how to create a legal framework that evolves as your real estate portfolio grows! In This Episode We Cover Two sides of asset protection to focus on when starting a real estate business Three actionable steps new investors can take to protect their assets today Why you need to create an estate plan (even if you don't have rentals yet!) How much you should expect to pay for different types of legal protection Debt versus equity partnerships (and why one is better for asset protection) Revocable and irrevocable trusts explained (and which one you need) And So Much More! Check out more resources from this show on ⁠⁠⁠⁠⁠⁠⁠⁠BiggerPockets.com⁠⁠⁠⁠⁠⁠⁠⁠ and ⁠⁠⁠⁠⁠⁠⁠⁠https://www.biggerpockets.com/blog/rookie-561 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email ⁠⁠⁠⁠⁠⁠⁠⁠advertise@biggerpockets.com⁠⁠⁠⁠⁠⁠⁠⁠.  Learn more about your ad choices. Visit megaphone.fm/adchoices

In this insightful discussion, Cameron, the Marketing and Business Development Manager at New Direction Family Law, and Elizabeth Stevenson, a partner at the firm, dive deep into the intricate intersection of estate planning and family law with Hampton Crumpler, an attorney at NC Planning. They explore the complexities of generational wealth, trusts, wills, and how these elements play crucial roles in divorce, custody battles, and property division. Key topics include the impact of prenuptial and postnuptial agreements, protecting assets for children from previous marriages, the importance of regularly updating estate plans, and understanding the differences between revocable and irrevocable trusts. Tune in to gain valuable insights into how smart estate planning can save time, money, and stress for your family.00:00 Introduction and Guest Introduction00:57 Intersection of Estate Planning and Family Law01:34 Prenups, Postnups, and Estate Planning07:15 Trusts for Minor Children10:15 Revocable vs. Irrevocable Trusts12:26 Blended Families and Q-Tip Trusts15:12 Importance of Having a Will18:32 Inherited Property and Marital Assets21:06 Tax Consequences of Inherited Money21:30 Trusts and Taxation22:22 Real Estate and Inheritance23:47 Estate Planning and Separation Agreements25:44 Gifts and Marital Property27:09 Handling Property in Divorce28:58 Importance of Estate Planning31:53 Updating Estate Plans33:02 Legal Representation in Divorce34:49 Getting in Touch with an Estate Planning Attorney37:17 Final Thoughts on Estate Planning

Sponsored by Call The Underwriter, go to calltheunderwriter.com/jpk and get a free seller finance deal toolkit! To obtain this week's Real Estate Notes Show guest Mary Hart's information, use this link https://bit.ly/4lnetnxIn this powerhouse episode, attorney and seasoned note investor Mary Hart breaks down the most misunderstood legal tools in the investing world: trusts. From land trusts and revocable living trusts to irrevocable entities and self-directed IRA strategies, Mary dives deep into how real estate and note investors can protect assets, reduce taxes, and streamline probate. With 34 years of legal experience and a growing private lending business, she shares real-world use cases and mistakes to avoid. Whether you're buying partials, performing notes, or investing through a trust—this episode is a must-watch.Perfect for: note investors, trust newbies, and pros prepping for DME.[00:00:00] Show Intro and Guest Update[00:01:12] Spotlight on Seller Finance Notes[00:02:56] Buying Seller Notes at Discounts[00:04:50] Risks in Seller Finance Deals[00:06:04] Why You Should Attend DME[00:07:40] Networking Value at Note Events[00:09:00] Meet Mary Hart, Trust Attorney[00:10:00] How Mary Got into Note Investing[00:12:03] Big Lessons from 34 Years Practicing[00:13:26] Trust Types Every Investor Should Know[00:15:04] Revocable vs Irrevocable Trusts[00:17:03] How Trusts Avoid Probate[00:20:12] Step-Up Basis Explained[00:23:04] Land Trusts vs Living Trusts[00:25:34] How Real Estate Investors Use Trusts[00:28:00] Tax Benefits of Trust Structures[00:32:00] Advanced Trusts in Note Investing[00:36:03] Trusts for Fractional Note Ownership[00:39:01] Trust vs LLC for Asset Protection[00:44:10] Real World Land Trust Use Cases[00:47:45] Final Q&A and Trust Tips[00:55:01] How to Choose the Right Attorney[01:00:56] Mary's Lending Business & Market Outlook[01:04:52] Closing Thoughts and DME Preview

When it comes to estate planning, there are a lot of half-truths, outdated advice, and persistent myths that can leave your family vulnerable. Join Jeff as he clarifies common misconceptions about wills, probate, powers of attorney, and trusts. Estate planning is far from a one-size-fits-all exercise. Multiple tools are available, and to be most effective, they should be strategically customized to each family's needs.    WHAT YOU NEED TO KNOW   (00:00) Episode introduction. (03:02) Myth #1 – A last will and testament is good enough. Truth – A will outlines what will happen to our assets that are in our name alone. This leaves a lot of issues unresolved.  (04:42) Myth #2 – Avoid probate using joint ownership and beneficiaries. Truth – When money is distributed outright to the joint owner(s) at the time of death, it creates a situation where (1) the money can be spent before creditors and tax collectors get their share, and (2) assets become susceptible to unintended claimants.  (10:44) Myth #3 – Revocable trusts should not be used. Truth – They ensure flexibility during life, give the grantor complete control, offer options for disability planning, and provide after-death asset protection.  (19:45) Myth #4 – A revocable living trust is all you need. Truth – In some instances, an irrevocable pure grantor trust is a better option. It can offer more robust tax handling, leaves the grantor in control, and provides a step up in basis for the beneficiary.   (22:52) Myth #5 – Trusts are one-size-fits-all. Truth – There are many tools available to estate planners; it's important to mix and match to develop a custom plan that is appropriate for each family.  (24:25) Myth #6 – A power of attorney (PoA) is good forever and any PoA is good enough. Truth – Most banks want these documents updated at least every two years. Also, to protect assets, a spouse or child must be specifically authorized in the PoA.   ABOUT BELLOMO & ASSOCIATES Jeffrey R. Bellomo, the founder of Bellomo & Associates, is a licensed and certified elder law attorney with a master's degree in taxation and a certificate in estate planning. He explains complex legal and financial topics in easy-to-understand language. Bellomo & Associates is committed to providing education so that what happened to the Bellomo family doesn't happen to your family. We conduct free workshops on estate planning, crisis planning, Medicaid planning, special needs planning, probate administration, and trust administration. Visit our website (https://bellomoassociates.com/) to learn more.   LINKS AND RESOURCES MENTIONED Bellomo & Associates workshops:https://bellomoassociates.com/workshops/ Life Care Planning The Three Secrets of Estate Planning Nuts & Bolts of Medicaid For more information, call us at (717) 845-5390. Connect with Bellomo & Associates on Social Media Tune in Saturdays at 7:30 a.m. Eastern to WSBA radio: https://www.newstalkwsba.com/ X (formerlyTwitter):https://twitter.com/bellomoassoc YouTube: https://www.youtube.com/user/BellomoAssociates Facebook:https://www.facebook.com/bellomoassociates Instagram:https://www.instagram.com/bellomoassociates/ LinkedIn:https://www.linkedin.com/in/bellomoandassociates WAYS TO WORK WITH JEFFREY BELLOMO Contact Us:https://bellomoassociates.com/contact/ Practice areas:https://bellomoassociates.com/practice-areas/      

Trusts serve as highly adaptable arrangements for managing and distributing assets, both during a settlor's lifetime and after death. This lecture opens by outlining the five key elements that define a valid trust. First, there must be a capable settlor who consciously decides to create a trust and who possesses the requisite capacity to execute that decision. Second, the instrument must name a trustee (or provide a method to appoint one) who holds legal title to the property and administers it according to the trust's instructions. Third, the trust must identify at least one beneficiary – or, in the case of a charitable trust, a recognized charitable or public purpose – to receive equitable title or economic benefit. Fourth, the settlor's intent should be clear and immediate, signifying that they are presently establishing a legally binding arrangement rather than simply voicing aspirations or making incomplete plans. Finally, the trust requires an identifiable corpus, or property to be placed under the trustee's control; without property, the trust remains a mere concept rather than an enforceable structure.Once formed, trusts can adopt different forms, often divided along two main axes. One distinction separates revocable trusts from irrevocable trusts. Revocable (or “living”) trusts allow the settlor to amend or revoke them at will, preserving near-total control and simplifying estate administration upon incapacity or death. Still, assets in a revocable trust usually remain in the settlor's taxable estate and are vulnerable to the settlor's creditors. Irrevocable trusts, on the other hand, prevent the settlor from freely altering or dissolving them once created. Although the settlor relinquishes significant control, irrevocable trusts can achieve tax advantages, creditor protection, or wealth preservation across multiple generations. A second axis differentiates testamentary trusts, which arise from a will at the testator's death, from inter vivos trusts, which operate during the settlor's life. Testamentary trusts offer post-death oversight but require the will's probate first. Inter vivos trusts, whether revocable or irrevocable, spring into force immediately upon execution and funding.Trustees function as fiduciaries, bound by strict obligations. The duty of loyalty demands unwavering focus on the beneficiaries' interests, outlawing self-dealing or hidden conflicts of interest unless expressly permitted by the trust or agreed to by all beneficiaries. The duty of prudence compels the trustee to invest and manage assets as a cautious, skillful investor, aligning with any directions set by the settlor and adhering to recognized standards like the prudent investor rule. Trustees must also maintain impartiality when beneficiaries' interests differ, such as balancing income generation for one beneficiary against principal preservation for another. Clear recordkeeping and transparency constitute further requirements: trustees typically owe beneficiaries regular reports or accountings, ensuring the beneficiaries can monitor the trust's administration.If a trustee fails to observe these duties, beneficiaries may pursue remedies that include removal of the trustee, surcharging the trustee for any losses incurred by improper management, or rescinding certain transactions tainted by conflicts. Courts often order trustees to return illicit profits if the trustee exploited trust property. Although trust instruments can incorporate exculpatory clauses to shield a trustee from ordinary negligence, no trustee can be relieved of liability for willful misconduct, fraud, or brazen self-dealing. These rules confirm the profound seriousness of the trustee's role. By adhering to fiduciary norms of loyalty, prudence, and impartiality, trustees uphold the trust's purpose: ensuring that assets, once entrusted, are safeguarded and used as intended, whether that goal is straightforward estate planning, long-term wealth transfer, charitable givi

Revocable Trusts will Not Keep You Safe from Medicaid. We do estate planning. We do probate. We do it well. If you are in Washington State and need help, you can get a free strategy session at the link in our bio. #estateplanning #probate #realestate #wealth #trusts #legacy #estatetaxes #lawyer #attorney #taxes #money

Ever wondered why some financial advisors insist everyone needs a trust, even if you're not wealthy? In this episode of Grow Your Business & Grow Your Wealth, Gary Heldt speaks with Katherine Sheehan, Managing Director and Wealth Strategist at Crestwood Advisors LLC. With nearly 30 years of experience in estate planning, Katie shares her expertise on why everyone needs an estate plan, regardless of their wealth level, and breaks down common misconceptions about trusts and estate planning. Key Takeaways: → Estate planning is not just for the wealthy - everyone needs essential planning documents, including a will, revocable trust, power of attorney, and healthcare documents. → Revocable trusts offer multiple benefits, including probate avoidance, protection for minor children, and flexibility in asset management while maintaining complete control. → Don't let cost concerns prevent proper estate planning - while fees vary by location and complexity, the cost of improper or no planning can be much higher for families. → Healthcare documents (healthcare proxy, HIPAA authorization, living will) and power of attorney are essential for life planning, not just end-of-life planning. → Long-term care planning may involve special trusts and strategies like Medicaid trusts or life estate deeds, which require careful consideration of five-year lookback periods. Quotes from Katie: "Everyone needs estate planning, whether you have $2 or $200 million. Let's just talk about what you need and why you need it." "Life is uncertain. We want to protect our beneficiaries from themselves, from their creditors, from their potential spouses..." More from Katherine Sheehan: Katherine Sheehan is the Managing Director and Wealth Strategist at Crestwood Advisors LLC. With almost three decades of experience in estate planning, she helps families develop comprehensive estate plans that protect their assets and loved ones. Contact: ksheehan@crestwoodadvisors.com Website: https://www.crestwoodadvisors.com/ Learn more about your ad choices. Visit megaphone.fm/adchoices

In this insightful episode, Melissa Joy, CFP® is joined by Ashley Waddell-Tingstad, founder of Treetown Law, to explore the vital yet often misunderstood world of estate planning. Together, they uncover the significance of preparing for life's expected and unexpected moments with key documents such as powers of attorney and healthcare directives. Ashley's expertise brings clarity to the complexities of estate planning, emphasizing the importance of building strong foundations for navigating transitions and crises smoothly. What You'll Learn in This Episode: Why estate planning matters: How essential documents like powers of attorney and healthcare directives prepare you for life's uncertainties. Probate vs. trusts: Understanding the burdens of probate and how trusts can simplify asset management, especially for families with minor children. Beneficiary designations: Strategies for minimizing the probate process by keeping beneficiary designations up to date. Revocable living trusts: The privacy, flexibility, and tax advantages they offer, and why they're not just for the wealthy. State-specific planning: The importance of consulting a local attorney to ensure your estate plan complies with unique state laws. Post-death planning: How trusts can protect assets from legal and financial vulnerabilities. Resources: Treetown Law LinkedInAshley on LinkedInTreetown Law on FB The previous presentation by PEARL PLANNING was intended for general information purposes only. No portion of the presentation serves as the receipt of, or as a substitute for, personalized investment advice from PEARL PLANNING or any other investment professional of your choosing. Different types of investments involve varying degrees of risk, and it should not be assumed that future performance of any specific investment or investment strategy, or any non-investment related or planning services, discussion or content, will be profitable, be suitable for your portfolio or individual situation, or prove successful. Neither PEARL PLANNING's investment adviser registration status, nor any amount of prior experience or success, should be construed that a certain level of results or satisfaction will be achieved if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. PEARL PLANNING is neither a law firm nor accounting firm, and no portion of its services should be construed as legal or accounting advice. No portion of the video content should be construed by a client or prospective client as a guarantee that he/she will experience a certain level of results if PEARL PLANNING is engaged, or continues to be engaged, to provide investment advisory services. A copy of PEARL PLANNING's current written disclosure Brochure discussing our advisory services and fees is available upon request or at https:...

Revocable living trusts do not give you asset protection. We do estate planning. We do probate. We do it well. If you are in Washington State and need help, you can get a free strategy session at the link in our bio. #estateplanning #probate #realestate #wealth #trusts #legacy #estatetaxes #lawyer #attorney #taxes #money

Get ready for a series on Estate Planning! We've had a few questions about that lately both in the FCC Facebook group and with our personal clients, so join Josh and Amelie as they talk about estate planning, and then keep an eye out for a final episode with Josh and Emily as they talk about a financial coach's role in all of this! First up–trusts! What are trusts, who needs a trust, and what does it all mean?! Takeaways: Trusts do not magically hide money from taxes. A trust is a “non-natural” person and as such can own assets/hire people etc. Revocable trusts can be changed at any time and are somewhat similar to just another account; irrevocable trusts are very limited in what can be changed. Biggest benefit to a trust is being able to control your money from beyond the grave. Second biggest benefit is being able to provide for beneficiaries. There are four people/groups etc. involved in trusts: guarantors/settlers/creators (who put money into the trust), executors (control the trust), income beneficiaries (receive benefits while the trust is in existence), and remainder beneficiaries (those who receive what's left when a trust ends). Want help building or growing a successful financial coaching business? Find resources below based on where you're at in your journey: Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity Already decided you're going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow

How can effective trust and estate planning secure your business and personal assets for future generations? In this episode, Gary Heldt sits down with Regine Francois Williams, founder and Managing Partner of Francois Williams Legal LLC, to dive deep into the complexities of trust and estate planning. Regine discusses the importance of estate planning, debunks myths surrounding trusts, and shares valuable insights on business succession. From tax implications to incapacitation planning, this episode provides a wealth of knowledge for business owners who want to protect their assets and ensure a smooth transition for their businesses and families. Key Takeaways: ✅ The importance of setting up both personal and business estate plans to avoid future complications. ✅ Revocable trusts offer flexibility and can be amended or terminated during the grantor's life. ✅ Irrevocable trusts are great for complex tax planning but limit asset control. ✅ Business owners should have a clear succession plan to prevent their businesses from falling apart in the event of incapacity or death. ✅ Trusts are essential for managing assets across multiple states and minimizing probate issues. Quote: “Planning is something we all need to take seriously. It could be a slight moment of incapacity, but everything could fall apart if there's no plan.” - Regine "An unfunded trust is meaningless. It's like putting your most important file through the shredder." - Regine How to Reach Regine: You can connect with Regine Francois Williams through her website at www.fwilliamslegal.com, or find Francois Williams Legal on Instagram, Facebook, and LinkedIn. Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, Ryan Burklo and Alex Collins discuss the topic of trusts, specifically revocable and irrevocable trusts. They explain that a trust is like a folder where you can put assets that are owned by the trust rather than by you. They discuss the roles of the grantor, trustee, and beneficiary in a trust and the benefits of a revocable trust, such as probate avoidance and flexibility. They also explain the benefits of an irrevocable trust, including tax advantages and creditor protection. They emphasize the importance of regularly reviewing and updating estate plans. Takeaways A trust is like a folder where assets are owned by the trust rather than by you. Revocable trusts offer probate avoidance and flexibility, while irrevocable trusts provide tax advantages and creditor protection. Regularly review and update your estate plan to ensure it aligns with your current situation and goals. Consult with professionals, such as estate planning attorneys, financial planners, and CPAs, to create and maintain an effective estate plan. Chapters 00:00 Introduction and Overview 02:49 Understanding Trusts: Revocable vs. Irrevocable 08:03 The Benefits of Revocable Trusts 11:35 The Advantages of Irrevocable Trusts 15:13 The Importance of Regularly Reviewing Your Estate Plan

Alessandro Chesser was one of the leading sales executives at Carta for 7 years. They always talked about helping Founders set up Trusts to preserve wealth - but it never launched. In February of 2022 he left to launch Dynasty and make the Trust process easier for Founders. Why South Dakota? Revocable or Irrevocable? 0% tax or 40% tax? We talk about it all live. 

Matt rejoins the podcast to talk about a first step toward estate planning: trusts. That may sound wonky or boring, but stay with us – not only do we make it geopolitical, we make it philosophical, interesting, and relevant. Come for the intersection of politics and planning, but stay for the important points about privacy at the end as well. --Timestamps:(00:00) - Intro(00:28) - Overview of Trusts and Geopolitical Context(02:59) - Historical Origins of Trusts(10:09) - Modern Trust Structures and Legal Nuances(15:33) - Revocable vs. Irrevocable Trusts(19:08) - Categories and Types of Trusts(29:12) - Understanding Revocable Trusts(29:34) - The Role of Trustees and Asset Protection(29:53) - Privatizing Decision Making with Trusts(30:41) - Irrevocable Trusts and Third-Party Trustees(32:31) - Who Needs a Revocable Living Trust?(33:38) - The Probate Process and Intestate Succession(35:32) - The Importance of Structured Estate Planning(38:16) - Advanced Estate Planning Strategies(41:13) - Demographics and Estate Planning(52:00) - The Impact of the Corporate Transparency Act(54:38) - The Importance of Privacy in Estate Planning(59:10) - Concluding Thoughts and Final Advice--Referenced in the Show:--Jacob Shapiro Site: jacobshapiro.comJacob Twitter: x.com/JacobShapCI Site: cognitive.investmentsSubscribe to the Newsletter: bit.ly/weekly-sitrep--Cognitive Investments is an investment advisory firm, founded in 2019 that provides clients with a nuanced array of financial planning, investment advisory and wealth management services. We aim to grow both our clients' material wealth (i.e. their existing financial assets) and their human wealth (i.e. their ability to make good strategic decisions for their business, family, and career).--Disclaimer: Cognitive Investments LLC (“Cognitive Investments”) is a registered investment advisor. Advisory services are only offered to clients or prospective clients where Cognitive Investments and its representatives are properly licensed or exempt from licensure.The information provided is for educational and informational purposes only and does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status or investment horizon. You should consult your attorney or tax advisorThis podcast uses the following third-party services for analysis: Chartable - https://chartable.com/privacyPodtrac - https://analytics.podtrac.com/privacy-policy-gdrp

THE JAYS WIN BACK TO BACK SERIES. DOG WALK THE GIANTS 2 OF 3. LET'S WIN 3 GAMES IN A ROW!!!

“By wisdom a house is built, and by understanding it is established; by knowledge the rooms are filled with all precious and pleasant riches.” - Proverbs 24:3-4Faithful stewardship requires us to make wise financial decisions…manage and grow assets, and protect our families from hardship. Are you ready if you're suddenly disabled or incapacitated? Valerie Hogan joins us with a checklist to prepare you for it.Valerie Hogan is an attorney, a Certified Financial Planner (CFP®), a member of Kingdom Advisors, as well as the co-author of Wise Women Managing Money: Expert Advice on Debt, Wealth, Budgeting, and More with Miriam Neff. The Importance of Disability InsuranceWe need the humility to realize we don't know what's coming in the future and the due diligence to get disability insurance, which protects us from loss of income if we're disabled. It's available publicly and through private programs, with costs varying based on qualification strictness, medical history, benefit duration (short or long term), and waiting period before it kicks in.Preparing for disability also falls in the same category as basic estate planning. This includes considering a durable power of attorney for finance or health decisions, a will or revocable living trust, and a living will when you can't make medical decisions independently.Organizing for IncapacityTo get organized, securely store important papers and legal documents and let someone you trust know their location. Talk to your spouse or family member about your advanced care wishes and permit your doctors and lawyers to speak with your caregiver, which may require a HIPAA release.Essential Documents to OrganizeHere's a comprehensive list:Birth, death, and marriage certificatesNames and phone numbers of close friends, relatives, doctors, lawyers, and financial advisorsFinancial information such as social security card or number, sources of income, IRAs, 401(k)sInsurance information, including life, long-term care, home, and car policies, with policy numbers and agents' contact detailsBank account numbers, checking, savings, and credit union detailsInvestment information (stocks, bonds, property) with broker's contact detailsMost recent income tax returnsUp-to-date will or trust with original signatures and witnesses (varies by state)List of liabilities and whom you oweDeeds or trust documents for your house and carHealth information, including current prescriptions, a living will, a durable power of attorney for health care, health insurance policies with policy numbers and contacts, and HIPAA releases.It's worth it to ensure everything is done properly, so a licensed attorney specializing in estate planning in your state is an excellent resource for wisdom and advice. A godly estate planning attorney can help you consider whether the next steward is chosen and prepared.On Today's Program, Rob Answers Listener Questions:Should I consider paying off my mortgage since the mortgage rate is considerably less than I could get by investing money in CDs? I'm also curious if digital currency is coming to the United States and if we must worry about the government taking our home.As a new medical practice owner who is barely making it right now with overhead and mortgage expenses, do I tithe from the gross income that the practice brings in, or can I tithe from the net income after taking care of all the expenses? Also, I bought a house in Florida to pay off, and I just got engaged. I plan to add him to the deed. What will the tax consequences be for him?How can my husband and I save or invest $200,000 that I will soon receive as an inheritance, given that we plan to retire in five years?My husband and I had gotten behind in tithing and giving to the ministries we support. We were challenged to get caught up, so despite life circumstances, we dipped into our savings and sent the checks. The day we delivered our tithe check to the church, we received a cash offer and sold our house in just two weeks. I wanted to encourage others that God is faithful when we surrender our hearts to him.I'm a 73-year-old widow living on Medicare and Medicaid. Because of this, I've heard they could take my house, but I want to understand more about how true that is and what I need to do, like possibly setting up a trust to secure my home. Where should I start to get advice on this issue?Resources Mentioned:Wise Women Managing Money: Expert Advice on Debt, Wealth, Budgeting, and More by Miriam Neff and Valerie Neff Hogan, JDMoney and Marriage God's Way by Howard DaytonRich Toward God: A Study on the Parable of the Rich FoolFind a Certified Kingdom Advisor (CKA) or Certified Christian Financial Counselor (CertCFC)FaithFi App Remember, you can call in to ask your questions most days at (800) 525-7000. Faith & Finance is also available on the Moody Radio Network and American Family Radio. Visit our website at FaithFi.com where you can join the FaithFi Community and give as we expand our outreach.

This program will provide an introduction to revocable trusts in estate planning and review the key components of trusts, including funding formulas, marital provisions, structures for children and other beneficiaries, and trustee provisions. The program will provide drafting suggestions and advice when advising clients on establishing revocable trusts.  Questions? Inquiries about program materials? Contact Trenon Browne at tbrowne@bostonbar.org

Are you working towards FIRE or building a financial legacy? Then DON'T skip this episode! What's the point of creating generational wealth if it will be lost after you're gone? Jenny Rozelle, estate and elder attorney, is back on the show to answer some of our most pressing questions about wills, trusts, estate planning, and everything in between! She's got some answers that even personal finance experts Mindy and Scott didn't know. And if you're just starting to think about preserving your future wealth, this episode may shock you, too. From “napkin” wills to bad inheritances, protecting your heirs' wealth from potential future divorce, and whether or not you're owed millions after your tipsy Aunt promised you her vacation home, Jenny clears up all the misconceptions that most Americans have about inheritance and estate planning.  Plus, if you've got children or loved ones you're planning to pass your wealth on to, it's crucial to follow Jenny's advice on updating your will. Neglecting to update your estate plans or planning around the wrong people could put your wealth at risk!  Check out Jenny's part one episode here!  In This Episode We Cover Whether or not a verbal promise of inheritance will hold up in the future  Revocable vs. irrevocable trusts and the ONLY two situations you'd choose an irrevocable one When to update your will and why Jenny DOESN'T keep a set timeline  Protecting your heirs from losing their inheritance to divorce  What to do when you get an inheritance that brings you more headache than it's worth  Why communication is critical in estate planning and who you should estate plan with  And So Much More! Links from the Show BiggerPockets Money Facebook Group Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums Finance Review Guest Onboarding Join BiggerPockets for FREE Mindy on BiggerPockets Scott on BiggePockets Listen to All Your Favorite BiggerPockets Podcasts in One Place Apply to Be a Guest on The Money Show Podcast Talent Search! Find an Investor-Friendly Agent in Your Area Find Investor-Friendly Lenders Property Manager Finder BiggerPockets Money 532 - Building Generational Wealth? Don't Lose It with This ONE Critical Mistake w/Jenny Rozelle BiggerPockets Money 401 - The Post-Passing Plan: 3 Steps to Protect Your Family's Financial Future BiggerPockets Money 503 - How to Keep MORE of Your Inheritance From the IRS (Avoid These Tax Mistakes!) 00:00 Intro 01:28 Revocable vs. Irrevocable Trusts 02:29 The Estate Planning Timeline 05:35 Verbal Promises and Inheritance  10:21 When to Update Your Will 12:04 Protecting from Divorce  14:58 Who to Estate Plan WITH 18:23 The Downside of Inheritance  22:54 The “Napkin” Will 25:34 Make Your Estate Plan Today!  Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-533 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices

IV. Trusts A. Types of Trusts Trusts are versatile legal entities created to hold assets for the benefit of certain persons or entities, with a trustee managing the trust. Trusts can be categorized based on their revocability and when they take effect. Revocable Trusts: Often referred to as living trusts, these are created during the trustor's lifetime and can be altered or revoked entirely by the trustor as long as they are alive and competent. Revocable trusts are used for asset management, probate avoidance, and privacy benefits. Irrevocable Trusts: Once established, these trusts cannot be modified or revoked without the beneficiaries' consent. The grantor effectively relinquishes control over the assets and the trust. This type of trust is beneficial for estate tax planning and asset protection. Living Trusts: Created during the lifetime of the trustor, living trusts can be either revocable or irrevocable. They allow for the management of the trustor's assets during their lifetime and distribution upon their death. Testamentary Trusts: Unlike living trusts, testamentary trusts are established through a will and only take effect upon the death of the trustor. They are used to manage and protect assets for beneficiaries according to the deceased's wishes. B. Creation and Funding of Trusts The process of creating a trust involves drafting a trust document, naming the trustee and beneficiaries, and specifying the terms under which the trust will operate. Critical steps include: Drafting the Trust Document: Legal documentation that outlines the trust's terms, the distribution of assets, and the powers granted to the trustee. Selecting a Trustee: The trustor must appoint a trustee who will manage the trust's assets. This can be an individual or an institution. Funding the Trust: The trust must be funded by transferring assets into it, which may include bank accounts, real estate, stocks, or personal property. The trust only controls assets that have been formally transferred into it. C. Roles and Responsibilities of Trustees Trustees are legally obligated to manage the trust in the best interests of the beneficiaries according to the trust document's terms. Their duties include: Duty of Loyalty: Trustees must act in the best interest of the beneficiaries, avoiding conflicts of interest. Duty of Care: Trustees must manage the trust's assets prudently, which includes making informed decisions regarding investments and asset management. Duty to Inform: Trustees are required to keep beneficiaries informed about the trust's administration and changes. Duty to Account: Trustees must provide regular accounting of trust assets, liabilities, receipts, and disbursements. D. Rights of Beneficiaries Beneficiaries of a trust have rights that ensure the trust is being managed in accordance with its terms and their best interests. These rights include: Right to Information: Beneficiaries have the right to be informed about the trust and its administration. Right to Distributions: Beneficiaries are entitled to receive distributions from the trust as specified in the trust document. Right to Challenge Trustees: If beneficiaries believe the trustee is not acting in their best interest, they have the right to challenge the trustee's actions in court. E. Modification and Termination of Trusts The modification or termination of a trust depends on its type (revocable vs. irrevocable) and the terms set forth in the trust document. Revocable Trusts: The trustor can modify or terminate these trusts at any time without the beneficiaries' consent. Irrevocable Trusts: Modification or termination generally requires the consent of all beneficiaries, and sometimes court approval, unless provisions in the trust document specify conditions under which the trust can be altered. Conditions for Termination: Trusts can be terminated when the purpose of the trust has been fulfilled, by the terms specified in the trust agreement, or if maintaining the trust becomes --- Send in a voice message: https://podcasters.spotify.com/pod/show/law-school/message Support this podcast: https://podcasters.spotify.com/pod/show/law-school/support

For expertise in estate planning, you can trust Goldstone Financial Group (630-620-9300) – a highly-rated financial consulting firm specializing in retirement solutions. Now serving retirees in the Brentwood, TN, area! More details at https://goldstonefinancialgroup.com/ Goldstone Financial Group City: Oakbrook Terrace Address: 18W140 Butterfield Road Website: https://goldstonefinancialgroup.com/ Phone: +1-630-620-9300 Email: contactus@goldstonefinancialgroup.com

What is the bid deal with Trusts? Should you use them to protect your property? REVOCABLE or IRREVOCABLE? Are their any tax benefits? Let's talk about it!   Welcome to the AUDIO Version of TAX FREE LIVING   What's up family and millionaires in the making!

The Fab Four/Mag Seven, as we all know, has really spearheaded the recent strength and momentum in the major markets. But could there potentially be some risks or external factors that could potentially arrest their momentum? Well, of course there are; but on the other hand, they could also not ever come to fruition. Also, retail sales number for January are noteworthy; you get a chance to look at them yet? Find us on Twitter, Instagram, & Facebook @DRUNKENOMICAL Merch: drunkenomics.myspreadshop.com Patreon: patreon.com/drunkenomics Stay Drunkenomical y'all!

Asha Paulose is an elder law and estate planning attorney in New York who operates a virtual law firm for clients living in Long Island, NYC, and the Hudson Valley. Her firm prepares trusts, wills, and other planning documents to help families through death or protect assets as individuals begin to age. She joined us today to talk about the common estate planning mistakes people make, why you should not add your kids' names to your bank account, why you shouldn't have your siblings inherit your assets that meant for your children, and more. [04.05] Asset protection – Asha starts the conversation by explaining the importance of asset protection. [11.33] Minor beneficiary – Grant and Asha discuss why a trust is a good idea if you have a minor beneficiary. [18.34] Funds – Asha explains why commingling funds is not a good idea. [26.27] Revocable living trust - A revocable trust is a trust that allows the grantor or creator to modify or revoke its terms according to their wishes. [35.28] Succession planning – Grant and Asha talk about the importance of succession planning when you start your own business. [40.11] Virtual firm – Asha discusses the benefits of having a virtual firm.   Resources Connect with Asha LinkedIn - linkedin.com/in/asha-paulose-17a50565/ Website - ashapaulose.com/ Instagram - @PauloseLaw

The Last Trade: a weekly, bitcoin native, interactive podcast covering where Bitcoin and traditional finance meet on a macro scale. Hosted by Marty Bent, Jesse Myers (Croesus), Michael Tanguma, and a special weekly guest host. Join us as we dive into what Bitcoin means for how individuals & institutions save, invest, and propagate their purchasing power through time. It's not just another asset - in the digital age, it's the Last Trade that investors will ever need to make. 0:00 - Introduction to Matt 4:48 - The importance of inheritance & estate planning 11:51 - The convergence of bitcoin & legacy planning 15:17 - The challenges of inheriting bitcoin 24:22 - The purpose of legacy planning 29:24 - Revocable & irrevocable trusts 39:55 - Jurisdictional considerations in trust planning 48:24 - A message from Onramp 48:40 - Having foresight & adapting to change 54:14 - Fee structures & incentives 1:00:22 - Solving for complex estate situations 1:03:38 - Investment mandates for bitcoin wealth 1:07:02 - Liquidity & freedom of capital 1:11:28 - How, where, & what to own 1:16:45 - Shifting narratives in wealth management 1:19:47 - Long-term horizons & bitcoiner philanthropy 1:35:59 - Propagating bitcoin wealth through time Schedule time with the link below if you would ever like to learn more about Onramp and please sign up for weekly Research and Analysis to get access to the best content in the ecosystem weekly: https://onrampbitcoin.com/contact-us/ https://onrampbitcoin.com/category/onramp-media/

In this episode of the Rich Habits Podcast, Robert Croak and Austin Hankwitz answer your questions! --- Be sure to check out Public's new ⁠⁠⁠⁠High Yield Cash Account paying 5.1% APY.⁠⁠⁠⁠ This is higher than anything else on the market and is FDIC insured up to $5M. --- Earn 5.1% APY using a Public HYCA, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠click here!⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Opt-in and share your email, ⁠⁠⁠⁠⁠⁠⁠click here!⁠⁠⁠⁠⁠⁠⁠ Learn more about our ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠4-module video course!⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Download our FREE Budget Template, ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠click here!⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ To learn more about Robert: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://stan.store/RobertJCroak⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ To learn more about Austin: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://stan.store/austinhankwitz⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Contact: richhabitspodcast@gmail.com

Divorce and revocable trusts - what happens? At CMS Law Firm we do estate planning, we do it well, and we'd love to talk to you about how you can protect your family, protect yourself, and protect your money. Good news for you is, that's easy to do. Just click the link and set up a time for your free strategy session - https://cmslawfirm.com/estateplanningstrategysession. Talk to you soon!

Estate planning is not only for older, established homeowners. Jeff explains how to know when it's the right time to set up powers of attorney and wills. He outlines state laws that will determine how medical decisions and finances will be handled if a person dies or becomes incapacitated without legal documents in place. Then, he ties it all together with a discussion of trusts for asset protection and tax management. This is a vital discussion for every adult to understand the importance of timing and the different options available for smart, proactive estate planning.   WHAT YOU NEED TO KNOW   (01:01) Everyone age 18+ is deemed an adult in Pennsylvania (PA) and should have a financial power of attorney (POA) in place.     (02:09) If no health care POA is in place, state law determines who can make medical decisions for you.    (02:29) The state can determine who your assets will go to if you die without a will.   (05:19) Do not assume that all your assets will go to your spouse if you die without a will.     (05:35) Do not assume that you're “too young” to need a power of attorney.     (06:22) Increasingly, 18-year-olds are getting POAs before they go off to college so that their parents can get involved on their behalf if the student suffers a serious illness or injury or needs help with, say, a banking issue or a problem at the school.     (07:37) If no POA is in place at 18, the next best time is when you start making some money. In fact, a financial POA is probably more valuable than a will at this point.     (08:12) Having a POA in place avoids legal guardianship hearings should a loved one become incapacitated.   (11:36) In general, there are two major types of trusts: testamentary trusts (created under a will) and living trusts (including revocable and irrevocable trusts). There are different types of irrevocable trusts (e.g., tax trusts, asset protection trusts). (15:06) Revocable trusts are taking the place of testamentary trusts. These provide asset protection but need to satisfy the five-year look-back period.   (17:41) If a young person needs long-term care, it is much better to do crisis planning with a financial POA already in place.   (19:36) Get an irrevocable tax trust only if you have more than the federal estate tax amount, which is currently about $26 million for a couple.   (21:19) Do you have a house or about $150,000 in investable assets that you do not rely on for everyday expenses? If yes, consider an asset protection trust.   LINKS AND RESOURCES MENTIONED A FORK IN THE ROAD: Modern Estate Planning and How Elder Law Is Taking the Other Fork https://www.amazon.com/FORK-ROAD-Modern-Estate-Planning/dp/1959840827   Bellomo & Associates workshops:https://bellomoassociates.com/workshops/ Life Care Planning The Three Secrets of Estate Planning Nuts & Bolts of Medicaid For more information, call us at (717) 845-5390. Connect with Bellomo & Associates on Social Media Tune in Saturdays at 7:30 a.m. Eastern to WSBA radio: https://www.newstalkwsba.com/ X (formerlyTwitter):https://twitter.com/bellomoassoc YouTube: https://www.youtube.com/user/BellomoAssociates Facebook:https://www.facebook.com/bellomoassociates Instagram:https://www.instagram.com/bellomoassociates/ LinkedIn:https://www.linkedin.com/in/bellomoandassociates WAYS TO WORK WITH JEFFREY BELLOMO Contact Us:https://bellomoassociates.com/contact/ Practice areas:https://bellomoassociates.com/practice-areas/    

Welcome back to the Wealth and Law Estate Planning Bootcamp! In this series of five episodes, Brent is joined by guests to discuss the basics of estate planning. In this episode, Deborah Plum chats with Brent about the revocable trusts. She answers the what, how, and why questions relating to these prevalent estate planning tools. Deborah and Brent also discuss practical aspects of revocable trusts and when they are appropriate. You will learn: What is a revocable trust? What is a Trustee? What is a beneficiary? How do revocable trusts work? What are the benefits of revocable trusts? When do I need a revocable trust? How are revocable trusts taxed? Why are revocable trusts used in estate planning?

It was almost a mini ep, but we had a lot to say about other stuff ::shrug:: Join Nana and Misan this week as we discuss Prom Pact,* Disney's new homage to (or subversion of?) classic 80s teen movies. Also, waltz down memory lane with us as we wax nostalgic about DCOMs. Zenon, forever! *Stream Prom Pact on Disney+ ------ Misan's HEA: Hotel of Secrets: A Novel by Diana Biller: https://us.macmillan.com/books/9781250809452/hotelofsecrets Nana's HEA: The Comeback by Lily Chu: https://lilychuauthor.com/the-comeback --- Check out our website: https://www.heallyeah.com/ Find us on IG: @heallyeahpod Email us at: heallyeah.podcast@gmail.com

Host Brian Harte and Adam Eltarhoni speak again to Chris Hanks for the second part of this three-part episode dealing with Trust Accounts. We will discuss Revocable, Purpose, Funeral, Charitable, Special Needs, Spend Thirft, Medicaid Asset Protection, and Totten Trust accounts. Support the show

In this episode of the Rich Habits Podcast, Robert Croak and Austin Hankwitz walk you through how to build a crypto portfolio from scratch, what the debt ceiling headlines mean for you, 401(k) loans, revocable trusts, and how to prioritize your wealth building journey. --- Earn 5.6% with T-Bills on Public: ⁠⁠Click Here!⁠⁠ To learn more about Robert: https://stan.store/robertcroak To learn more about Austin: https://stan.store/austinhankwitz To learn more about NEOS Funds: https://neosfunds.com/

Attorney-CPA Joe Cordell and TuckerAllen estate planning attorney Benjamin Zinkel are back with episode 4 of our series on Exploring Revocable Trusts. Together they explore the integration of life insurance and tax-deferred assets with the trust corpus. They emphasize the benefits of designating your trust as the beneficiary for life insurance policies and tax-deferred accounts […] The post Exploring Revocable Trusts – Episode 4 – The Corpus: Part 2– EP. 74 – Life's Third Act appeared first on Joseph E. Cordell.

Amy Holzman is a seasoned trust and estate attorney with over 25 years of experience. Specializing in estate planning and administration, Amy prepares wills, trusts, estate and gift tax planning, and healthcare proxies, for a wide range of clients including US citizens, international families, and LGBTQ+ clients. In this episode, Amy and Stacy Francis discuss the ins and outs of estate planning. Amy shares key considerations for single mothers with young children, highlighting the importance of appointing a capable and willing guardian for minors, the use of trusts for managing children's inheritance, and other critical elements of estate planning. The cornerstone of any will for parents with young children is appointing a guardian. This person should be capable and willing to raise the child in case something happens to the parents. It's also critical to have a detailed letter outlining how the child should be raised, to prevent family conflicts and misunderstandings later. Trusts are a viable way to manage and protect children's funds. Parents need to choose a responsible trustee, who can be guided by a financial advisor, to ensure that the child's funds are used appropriately. Healthcare proxies should be in place for children over 18. For families with substantial wealth, early gifting can help preserve wealth for future generations. Revocable trusts can also be used to avoid costly court procedures. Setting up a Roth IRA for children, regardless of whether they have income, can provide them with a financial head start. Moreover, parents should talk to their children about financial matters to prepare them for financial responsibility in the future. Resources Amy Holzman on LinkedIn Email: info@trustwillpower.com  Law Offices of Amy Holzman Stacy Francis on LinkedIn | Twitter Email: stacy@francisfinancial.com FrancisFinancial.com Reach out to receive a complimentary consultation! Contact Francis Financial at +212-374-9008 or visit Francis Financial today!

What do revocable living trusts provide? Warning! Revocable living trusts do NOT provide asset protection. What can they provide? Let's talk about it. -- I love comments. I make these videos specifically to help people with no expectations. Please take a second and say ‘Hi' in the comments and let me and know what you thought of the video… PS - It would mean the world to me if you hit the subscribe button.

An estate expert explains the options and complexity for the surviving spouse in a joint revocable trust following the death of the other spouse. The American College of Trust and Estate Counsel, ACTEC, is a professional society of peer-elected trust and estate lawyers in the United States and around the globe. This series offers professionals best practice advice, insights and commentary on subjects that affect the profession and clients. Learn more in this podcast.

Revocable living trust does NOT provide asset protection. -- I love comments. I make these videos specifically to help people with no expectations. Please take a second and say ‘Hi' in the comments and let me and know what you thought of the video… PS - It would mean the world to me if you hit the subscribe button.

On this week's episode of Financial Planning: Explained, host Michael Menninger, CFP discusses a topic long overdue on the show, the Taxation of Trusts. Trusts are used as a very important tool for estate planning, and are commonly used to help effectively transfer wealth to the next generation. In this episode, Mike details Revocable vs. Irrevocable trusts and investing in a trust. He also gives illustrative examples of taxable income estimates via the different tax brackets, and explains the importance of tax planning strategies when investing trust assets. For more information on Menninger & Associates Financial Planning visit https://maaplanning.com

On this episode of Finance In A Flash, we continue our series on Estate Planning by discussing Revocable Living Trusts. Chip and John discuss key components of a Revocable Living Trust including:  the primary purposes, how they are handled from a tax perspective, and other reasons to consider this estate planning tool!

Elder law attorney Jim Koewler joins Suzanne to talk about setting up your estate plan and the people needed to complete various documents, such as powers of attorney, wills, living wills, revocable trusts, and irrevocable third-party trusts. This segment covers revocable trusts. Revocable Trust Initial Trustee: Grantors (the people setting up the trust in the first place) Successor Trustee (after initial trustees both diseased or physically/mentally unable to continue as trustee): Person who gets stuff done, meets deadlines, and doesn't buckle under pressure (just like backup executor for Will) Listen in to hear details and explanations. Learn more about Jim Koewler at Answer for Elders or at his website, and look here to see a list of all of Jim's podcasts.See omnystudio.com/listener for privacy information.

In this episode we answer emails from Sue, Vern and Rene.  We discuss revocable trusts, where and where not to get them and why or why not you might want one, the mechanics of rebalancing and drawing down on a portfolio with multiple accounts, and the differences between various small cap funds like IJR, IJS, IJT and VIOV.Support the show

Do you have a plan in place to protect your wealth? It's never too late to start, so pay attention to this episode as Atty. J.J. Childers ensures that you have legal processes to protect your financial and business assets while leaving a legacy for your rightful beneficiaries. Keep listening and learn carefully!    WHAT YOU'LL LEARN FROM THIS EPISODE   Legal structures to protect and transfer your assets  Pros and cons of wills and trusts Revocable vs. irrevocable trusts How to approach aging parents about financial protection planning Why real estate investors need an estate plan The challenges of joint-tenancy, probate, and unpaid debt   RESOURCES MENTIONED IN THIS EPISODE #162: The Blueprint To Financial Protection - J.J. Childers AARP   ABOUT ATTY. J.J. CHILDERS J.J. Childers helps entrepreneurs, small business owners, and investors design and structure protection plans for safeguarding their assets without all of the confusion, complication, and cost often associated with the process. He is a licensed attorney who has been practicing law for the past 25 years in the areas of asset protection, estate planning, and business law. In addition to his law degree, he is studying for his LL.M in Dispute Resolution from the prestigious Straus Institute at Pepperdine University's Caruso School of Law. He completed the Certified Mediation training program through the Arkansas Dispute Resolution Commission along with advanced Negotiation and Dispute Resolution training at the Program on Negotiation at Harvard Law School. He is the author of numerous books, courses, and training programs that provide instruction on wealth protection through innovative strategy and structuring. He is a highly sought-after speaker on a wide variety of topics related to legal protection planning and is consistently rated as a top speaker by his audiences.   CONNECT WITH ATTY. J.J. Website: JJ Childers Email: jj@jjchilders.com CONNECT WITH US: If you need help with anything in real estate, please email: invest@rpcinvest.com Reach Ron: RP Capital Leave podcast reviews and topic suggestions: iTunes Subscribe and get additional info: Get Real Estate Success Facebook Group: Cash Flow Property Facebook Community

ROYAL LEGAL SOLUTIONS Learn how to free your time, protect your assets, and create lasting wealth with asset protection attorney and long-time real estate investor, Scott Royal Smith. When a close friend lost over $3 million in a single lawsuit, Scott decided to leave his litigation practice to help people protect themselves from frivolous lawsuits. His law firm, Royal Legal Solutions, now helps thousands of real estate investors and entrepreneurs protect more than $1.2 billion in assets. Join Scott as he deconstructs the lawsuit game and shows you how to protect yourself and your hard-earned wealth.*********************************************************************************MEET THE HOSTSScott Royal Smith, Esq., CEO, Real Estate Investor. As the founder of Royal Legal Solutions, I am an asset protection attorney and long-time real estate investor in every asset class in 10+ states. My background in litigation and investing uniquely has provided me with insights into how to best use the law for maximum legal advantage while streamlining operations, taxes, and compliance.*********************************************************************************KEY TAKEAWAYSThis session of Royal Investing opened with a quick presentation about tax implications relative to land trusts. Not all trusts are required to file taxes. Revocable trusts are the simplest to set up and have no impact on your tax filings. The remainder of the time involved a QA session with attendees. Scott provided valuable insight on a variety of land trust questions, including: Does a land trust need to be listed on my insurance policy and an additional insured?How does a land trust add a layer of asset protection?Who should sign as the trustee to maintain anonymity?How does discovery work if a litigation attorney is considering taking a case?Can I do anything to protect my assets if I am already involved in a lawsuit?... and more!Want a refresher or to see what you missed? Watch the replay. REGISTER FOR ROYAL INVESTING and attend LIVE on Zoom, Wednesdays at 11:30 p.m. CST.Ready to go beyond basics and take your education to the next level? Get FREE Access to the Asset Protection Vault. This resource contains our top 5 video Masterclasses and ebooks.*********************************************************************************ENGAGE WITH USAre you ready to take action on Asset Protection, Tax Strategy, or Estate Planning? Take our Financial Freedom Quiz, where we will gather your general information to have a productive conversation. At the end of the quiz, you will have the opportunity to schedule your consultation. https://hubs.la/Q014rfVz0For tax questions complete this quiz: https://go.royallegalsolutions.com/tax-discover-quizFor insurance questions complete this quiz: https://go.royallegalsolutions.com/insurance*********************************************************************************DISCORD COMMUNITYhttps://discord.gg/KKS7rZG5kM*********************************************************************************WEBSITE: http://royallegalsolutions.comLINKEDIN: Check out what folks are saying and make a professional connection with Scott Royal Smith https://www.linkedin.com/in/scott-royal-smith/ FACEBOOK: Join our exclusive group to discover the tax, legal, & asset protection secrets every real estate investor needs to know. https://www.facebook.com/groups/495820367909918/

Jim and Chris sit down to answer listener questions regarding Social Security, Revocable Living Trusts, VAs, SPIAs, and 401(k) contributions. (4:45) A Texan asks a question about Social Security benefit calculators. (10:30) A New Jerseyan wonders how naming their checking account as owner of a revocable living trust will affect their Social Security direct deposits. […] The post Social Security, Revocable Living Trusts, VAs, SPIAs, and 401(k) Contributions: Q&A #2237 appeared first on The Retirement and IRA Show.

Garrett Sutton, Esq., a corporate legal specialist, joins us in today's episode to discuss entity laws and how to manage them. Keep on listening as he delivers the knowledge you need to strategically defend your assets against corporate liabilities and legal exposure so you can amplify your asset protection game today!WHAT YOU'LL LEARN FROM THIS EPISODE Smart ways to safeguard your assets from business attacksHow to use LLCs to lower your personal liability and risk of lawsuits Revocable trust vs. Irrevocable trustThe best places to set up your LLCWhy you should read “Veil Not Fail”RESOURCES/LINKS MENTIONEDRich Dad Poor Dad by Robert T. Kiyosaki | Paperback https://amzn.to/3zHbIqm and Kindle https://amzn.to/3bwlNy2Veil Not Fail by Garrett Sutton Esq. | Paperback https://amzn.to/3SurNIj and Kindle https://amzn.to/3QjAJOQAre you thinking about forming an LLC or a corporation? Schedule a free 15-minute consultation with an incorporating specialist at https://corporatedirect.com/ and get sound advice that considers your assets and state laws so you can protect your future and incorporate the right way!ABOUT GARRETT SUTTON, ESQ.Garrett Sutton, Esq. has been practicing corporate law for more than 35 years and has assisted entrepreneurs and real estate investors worldwide in protecting their assets and maximizing financial goals. He is a highly sought-after guest speaker and serves as a member of the elite group of “Rich Dad Advisors” for bestselling author Robert Kiyosaki. He is the author of the bestselling Rich Dad, Poor Dad wealth-building book series.CONNECT WITH GARRETTWebsite: Corporate Direct https://corporatedirect.com/YouTube: Garrett Sutton https://www.youtube.com/c/GarrettSuttonCONNECT WITH USGreen Light Equity Group - http://www.investwithgreenlight.com/For a list of Virtual Meetups - Email: tate@glequitygroup.com | chelsea@glequitygroup.com Special Announcement! Tate's brand-new audiobook “F.I.R.E.-Financial Independence Retire Early Through Apartment Investing” is downloadable! Go to: Green Light Equity Group: http://www.investwithgreenlight.com/.Do you have difficulty underwriting deals? Never worry about getting your numbers wrong with Real Estate Lab, a cloud-based platform for investors. Sign up at https://www.realestatelab.com/ using the promo code TAG2 to get 10% off your first 12 months. Automate your acquisitions and underwriting like a boss now!

Monterey Wealth is excited to invite Guest Host Devin Phillips, Partner of Weener, Nathan, Phillips, LLP back to discuss the importance of creating and updating your Estate Plan. Devin touches on the basics and differences between Revocable vs. Irrevocable Trust as well as examples of when each Trust can be beneficial. For any question, please reach out to Monterey Wealth at http://montereywealth.com. For any legal advice or legal questions, contact Devin Phillips at https://www.wnpllp.com/ or email him at dphillips@wnpllp.com.

The Right Way to Plan Your Estate and Gifts to Charitable InstitutionsThis show is important for anyone who cares about his/her family. Today Dave Lorenzo has a conversation with Jennifer Abelaj, an New York Estate Planning Attorney. Join us!00:00 The Right Way to Plan Your Estate and Gifts to Charitable Institutions01:19 What inspired Jennifer to become an Estate Planning Attorney?02:07 How does Jennifer begin discussing Estate Planning with others?05:16 The Importance of Estate Planning in Families06:50 What are the basic requirements for Estate Planning in New York?09:23 What is a Will and what is contained within it?10:57 How significant is an Estate Plan in an Insurance Policy?14:17 How important is it to hire an Estate Planning Attorney when acquiring Insurance?15:44 What is Susan's recommendation for long-term assets to be left to a minor?21:50 What does Trustee and Executor mean?23:37 What is the difference between Revocable and Irrevocable Trusts?26:49 How to Set-up and Use a Trust?29:48 Why do some clients want to purchase assets in private?33:11 Why is it necessary to hire an Attorney if you intend to donate to charity?Jennifer AbelajEstate & Philanthropic Planning Attorney212-328-9568jva@abelajlaw.comhttps://www.abelajlaw.com/About Jennifer Abelaj:Jennifer V. Abelaj has a combined background in business, tax, and the law. She started her career as a Certified Public Accountant with Ernst and Young and continued practicing as a CPA at two worldwide investment banks. In her legal career, she worked at both large and boutique law firms practicing in Trusts and Estates and Non-Profits. She has significant experience advising high net worth clients, both domestic or with an international footprint. She has worked with non-profit boards, executive directors, and lobbying groups.As a first-generation American, Jennifer is comfortable working with clients of various nationalities. Jennifer speaks Spanish fluently and Slovak conversationally, which are the native languages of her parents. She also speaks French conversationally, which is her husband's native language. Jennifer lives in Manhattan and enjoys the sights, sounds and experiences of New York City. In her spare time, you can find her snowboarding on a mountain or spending time with her husband and dog.