Podcasts about revocable trust

What are the Advantages of a Revocable Trust? 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

A revocable trust always travels with a will. 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

Todd Lutsky joins the show to explain the benefits of a revocable trust. Todd also takes calls from listeners about how they should navigate their revocable trusts.

If you have equity in your home through a revocable trust, it may be time to think twice about it if you are settling your tax debt. Listen to today's episode and learn more!Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/

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

Here's how to sell a property in a revocable trust. 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! #estateplanningattorney #probatelawyer #family #money #estatetaxes #wealth #kids #taxes #realestate #trust #revocablelivingtrust

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When we first begin working with a client who is setting up their estate plan and, more specifically, building a trust, the number one question we always get is whether they need a revocable or an irrevocable trust. For us, this is always an interesting and fun conversation because as soon as the client hears the difference, they immediately know which tool they need.  Not to give it all away, but the standard option is the revocable trust; however, there are certain instances in which the irrevocable trust is needed—there is no one-size-fits-all approach to estate planning. So, which trust is right for your specific circumstance? Press play and listen in for more details, and of course, when you meet with your estate planning attorney, they will help ensure you're making the right decision to protect your loved ones and your future.  Time-stamped Show Notes:  0:00 Introduction 0:55 A revocable trust is what we typically do in our practice, which gives you control over everything in your trust, you are in charge.  1:10 An irrevocable trust is used to give everything away; you can't change it.  1:58 Next, Madison discusses in more detail why you would want to use an irrevocable trust and how they are set up.  4:40 If you're worried about being sued, that may be another issue. Your trust isn't generally going to protect you from something like that. Here's what you need to know. 

Welcome back! In our last episode of Absolute Trust Talk, we were joined by expert psychotherapist and certified coach Tess Brigham, MFT, BCC, to discuss the differences between generations and, more specifically, examine the unique dynamics between Baby Boomer parents and Millennial children.  In this episode, we continue our conversation with Tess, focusing on the interactions between Gen X parents and Gen Z children. These two generations are very interesting as Gen Xers were heavily influenced by events like the Persian Gulf War, the women's movement, and high divorce rates. As Tess points out, this generation is a very “figure it out on your own” group. Whereas Gen Zers are true digital natives and have no real concept of life before technology. We hope you will listen in as we talk about how these generations' unique experiences shaped their approach to estate planning. Plus, we share some special insights from real client stories!  Time-stamped Show Notes:  0:00 Introduction 1:19 To kick off the episode, Tess gives us a little background refresher on what types of events and movements had an impact on these two generations.  7:30 One way the younger generations differ from the older ones, in terms of estate planning, is how they consider the possibility of divorce and whether they want to burden their children with responsibility. Listen in to learn more!  10:55 We're likely all familiar with the stereotype that the oldest daughter always gets the responsibility of taking care of her parents, but will this continue with the newer generations?  14:05 At the end of the day, women are biologically and evolutionarily designed to care for family, so perhaps we won't see a change in the oldest-daughter-caretaker stereotype after all. Only time will tell!  15:29 As we wrap up the show, we highlight why it's important to analyze how these heavy conversations play out among generations. 

Estate Planning... a topic nearly every ranch family will have to… or has dealt with.  Attorney Dal Houston walks us through the various topics like: the difference between a Will and a Trust; the difference between a Revocable Trust and an Irrevocable Trust as well as discussion on Joint Tenancy, Partnerships, and LLC's.  You may have heard this topic before, but it's crucial to the sustainability of our family ranches... and how much you wanna bet you'll hear something this time around that you missed the first time.     #workingranchmagazine #workingranchnation #justinmills.wyocowboy #ranchlife #ranching #dayweather #weather #agweather #beef #cows #livestock #cattle #Gelbvieh #DiamondV #estateplanning #ranchfamilies #sustainability

What do you need to do to create a revocable trust? 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! #estateplanningattorney #probatelawyer #family #money #estatetaxes #wealth #kids #taxes #realestate

How long does it take to create a revocable trust? 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!

The Estate Tax Exception amount is set to roll back from 13 million per person to 7 million at the end of 2024 and attorney Dal Houston returns as a guest to explain the details.  We'll discuss options that can be looked at should your estate be bumping into the potential for those Death Taxes… which will lead us into a great discussion on the uses and differences of a Revocable Trust versus an Irrevocable Trust. Plus, his thoughts on whether to leave your estate to that next generation “Outright” or in a “Trust”. #workingranchmagazine #workingranchnation #justinmills.wyocowboy #ranchlife #ranching #dayweather #weather #agweather #beef #cows #livestock #cattle #Gelbvieh #DiamondV #estatetax #estateplanning #deathtax #taxexcemption

Is a revocable trust still revocable after grantor dies? 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!

To watch this episode on YouTube visit: https://www.youtube.com/watch?v=Bs_IAlHbjLs   In this episode Chris Hammond discusses an article that shows the woes that Aretha Franklin's heirs are going through with her estate. And what are some steps we could all take to help avoid these same things in our own situation.     To download a free copy of the Essential Step-By-Step Retirement Guide click here: https://retirementplanningmadeeasy.com/   I am a financial advisor, but I'm not your advisor financial planner. Please consult with your own tax, legal and financial advisor for personalized advice. Investment advisory services offered through Retirement Wealth Advisors, LLC (RWA), a registered investment advisor. RWA and Hammond Wealth Advisory are independent of each other. Insurance products and services are not offered from RWA but are offered and sold through individually licensed and appointed agents. This information is designed to provide general information on the subjects covered, it is not, however, intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Please note that Hammond Wealth Advisory and its affiliates do not give legal or tax advice. You are encouraged to consult your tax advisor or attorney. Chris Hammond and/or Hammond Wealth Advisory are not affiliated with or endorsed by the Social Security Administration or any other governmental agency.

What do you need to do to create a revocable trust? 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! #estateplanningattorney #probatelawyer #family #money #estatetaxes #wealth #kids #taxes #realestate

What do you need to do to create a revocable trust? 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! #estateplanningattorney #probatelawyer #family #money #estatetaxes #wealth #kids #taxes #realestate

Have you ever had a pesky neighbor encroaching on your land? Or perhaps they have decided to put a cell tower in that directly blocks the beautiful view that you bought your property for in the first place? Or maybe you've recently inherited the family home but share it with your siblings and cannot agree on what to do with it. How do you resolve these types of challenges? Do you have a friendly conversation? Do you engage a lawyer and go to court? In this podcast episode, we sit down with Steven Kahn, a civil litigation attorney who focuses on real estate and business disputes involving real estate. He is a partner at Hoge Fenton, has been a Northern California Super Lawyer four years in a row, and has been a Northern California Super Lawyer Rising Star for five years. With his accolades and over nineteen years of experience in trials, arbitrations, and problem-solving, Steven is the perfect candidate to share his insights on various real estate issues.  “When you bought your house, you probably got a title insurance policy, and it probably has something attached to it called an assessor's parcel map that looks like a map of your neighborhood, but it doesn't actually show where your boundaries are. It was created by the taxing authority to have a general idea of how big the land is.” So, join us in our 120th episode of Absolute Trust Talk as we discuss: How to divide up real estate that has been inherited by more than one beneficiary The ins and outs regarding boundary disputes What court proceedings for real estate issues may look like – depending on the case Discussions on the recent Mount Diablo dispute What you can do if a neighbor blocks your view from your property The difference between adverse possession and prescriptive easements  And much more!  There's nothing quite like a real estate or land dispute to ruin neighbor or familial relationships. A little effort and communication can go a long way to finding the right solution, but we know some situations can escalate quickly, and a lawyer like Steven is needed to help keep the peace and navigate the law. If you or someone you know is facing a real estate or property legal challenge, we hope this episode will help you take the necessary next steps to resolve your issue correctly.

In this final episode of ThimbleberryU's six-part series,  Jag and Amy delve into the critical topic of legacy and estate planning for healthcare professionals. Amy points out the potential disputes and uncertainties that can arise without proper planning, as seen in the cases of Prince and Aretha Franklin. Legacy planning ensures that assets are distributed according to one's wishes and helps in leaving a lasting impact, whether it's for loved ones, charitable causes, or the healthcare practice itself.Prince's estate faced a lengthy legal battle due to the absence of a will, despite having a Revocable Trust. Similarly, Aretha Franklin's lack of a will or trust led to potential disagreements among her heirs and increased estate taxes. These examples highlight the consequences of not having proper estate planning documentation.The first step in legacy planning is setting clear expectations with loved ones and ensuring that one's will or trust is legally sound and reflective of their desires. This helps avoid misunderstandings and conflicts.  Amy compares trusts with wills, explaining the benefits of trusts, such as privacy, probate avoidance, control over asset distribution, and safeguarding one's practice. Trusts, unlike wills, remain private and allow for direct distribution of assets to beneficiaries without court intervention. Trusts also provide more flexibility in how assets are distributed and can be particularly useful in protecting a healthcare practice.An unfunded trust, like Prince had, lacks assets, which are necessary for the trust's instructions to apply. Other common mistakes in legacy planning, such as failing to update estate plans regularly and not considering tax implications, as seen in the cases of Philip Seymour Hoffman and James Gandolfini.We aren't all gloom and doom today, however. Amy shares success stories of healthcare professionals who effectively planned their estates, ensuring smooth transitions of their practices and creating lasting impacts through charitable foundations or scholarships. The power of legacy planning and the importance of organizing financial affairs benefits loved ones and the profession.To get in touch with Amy and her team at Thimbleberry Financial, listeners can reach out by calling 503-610-6510 or visiting thimbleberryfinancial.com.

What do you do with a revocable trust after the grantor dies? 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!

Client profile #179 - Single | Revocable Trust - Keep it in the family. 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! #estateplanningattorney #probatelawyer #family #money #estatetaxes #wealth #kids #taxes #realestate

If you're someone who is serving in the role of trustee, executor, conservator, or guardian, acting as a personal representative for someone's estate in California, did you know that the state has specific guidelines for probate accounting? According to section 16062, the California probate code requires representatives to provide an accounting at least once a year. The purpose is usually two-fold: to show beneficiaries what assets exist, how they've been handled, how much is left to be divided up, and to show the individual in control of the money is doing their job.   “Unlike giving a few specific documents to your CPA to prepare for a tax return, we need everything - every transaction that happens within a trust estate or conservatorship. It's a lot of information.” The problem is that most people whose names are tasked with the role of trustee or conservator have no idea how to prepare this type of formal accounting. Even for those confident in their accounting skills, the process is technical, tedious, and can be wrought with many opportunities for mistakes. The good news is you don't have to do it alone. There are professionals who do complete probate code-compliant accounting for a living. One of these professionals, Heather Hamilton, founder of Fiduciary Accounting Services, LLC (FAS), is joining us on this episode of Absolute Trust Talk.  Heather holds a bachelor's degree in finance from California State University, Chico, and worked in commercial banking for 15 years before founding FAS in 2007. The goal of this company was to focus purely on fiduciary accounting, making this expert service more available and taking the load off the shoulders of others. Since then, FAS has grown to be the largest provider of accounting for trusts, estates, and conservatorships in California, focusing entirely on fiduciary accounting.  Join us as we discuss: The particular challenges that come with fiduciary accounting, both for the accountants and the clients Why you may need a fiduciary accounting in the first place What is required for this type of accounting Tips and advice on how to ensure a smooth accounting process And much more! Whether you need formal probate-compliant accounting now or you're preparing for the future, this episode will help you understand what to expect and how to prepare and even show you what to avoid. So, find a cozy spot, and let's get started!

Can you have a separate revocable trust for each of your rental homes? 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!

Am I the owner of a rental house that I put into an LLC and then into a revocable trust? 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!

A revocable trust is an essential part of an estate plan in California. And when clients ask why they need a revocable trust, our answer is always: to avoid probate! We know that probate is time consuming and costly, but have you ever wondered how our system came to be? In this episode of Trust Me!, Anne Rudolph and Ralph Hughes discuss their recent article published in the Trusts & Estates Quarterly -- The Rise of Revocable Trusts in California.About Our Guests:Ralph E. Hughes is a founding Shareholder of Hughes and Pizzuto, APC focusing on Probate and Trust Administration, Probate and Trust Litigation, and related mediation. Ralph received his law degree from the University of California, Berkeley in 1976. Shortly thereafter, he moved to San Diego. Since that time, he has been involved in all aspects of probate, estate planning, trust and probate administration, and related litigation. He is a member of the American College of Trust and Estate Counsel (ACTEC), and is a Certified Specialist in Estate Planning, Trust & Probate Law. Ralph is affiliated with West Coast Resolution Center and conducts mediations through that organization. He has participated in well over 100 mediations.Anne M. Rudolph is a Shareholder of Hughes and Pizzuto, APC focusing in Probate and Trust Administration, Probate and Trust Litigation, and Appeals. Anne is the Chair of the Firm's Appellate Section. Anne received her law degree from the University of Oklahoma College of Law where she graduated in the top 5% of her class. She has been a Certified Specialist in Estate Planning, Trust & Probate Law since 2013. Anne has earned an AV Preeminent rating from Martindale-Hubbell for legal experience and knowledge as well as ethical standards. She has also been named a Top Rated Estate and Trust Litigation Attorney by San Diego Super Lawyers® since 2018, an honor that is reserved for the top 5% of attorneys in California. She is a frequent speaker on legal ethics issues that arise in the fields of trusts, estate planning, and probate.About Our Host: Host Anna Soliman is Trust Counsel and Managing Director for Fiduciary Trust International of California out of the Los Angeles Office. Prior to joining Fiduciary Trust International, Anna was an estate tax attorney for the Internal Revenue Service and also worked in private practice, specializing in estate planning and trust administration for ultrahigh net worth individuals. She is also a TEXCOM member and is involved with the Fiduciary Income Tax Section of the American Bar Association.Thank you for listening to Trust Me!Trust Me is Produced by Foley Marra StudiosEdited by Todd Gajdusek

Chief Investment Officer Troy Harmon, CFA, CVA, is joined by Managing Associate Melanie Wells, CFP®, and Associate Peter Lynch explore the situation of a wealthy investor who wants to leave his massive estate to his five grandchildren. With the grandchildren ranging in ages from 3 to 20, the experts consider his option of using a trust to shelter their inheritance from estate and gift taxes. Additionally, the trust can allow him to control how his money is used from beyond the grave. Read the Article: https://www.henssler.com/trusts-offer-control-and-protection-for-grandchildrens-legacy 

Henssler Money Talks – November 18, 2023Season 37, Episode 46This week on “Money Talks,” Chief Investment Officer Troy Harmon, CFA, CVA, is joined by Managing Associate Melanie Wells, CFP®, and Associate Peter Lynch to cover the week's economic news, including the Consumer Price and Producer Price indices, Retail Sales, and the University of Michigan Consumer Sentiment Survey. Melanie and Peter consider a wealthy investor who wants to leave his massive estate to his five grandchildren. With the grandchildren ranging in ages from 3 to 20, the experts explore his options of using a trust to shelter their inheritance from estate and gift taxes. Additionally, the trust can allow him to control how his money is used from beyond the grave. The experts wrap the show by addressing a question on finding the “sweet spots” in the current Treasury market.Timestamps and Chapters00:00 Market Roundup: Covering November 13 – November 17, 202322:55 Case Study: Using Trusts to Pass on Wealth34:13 Q&A Time: What are the “sweet spots” in the current Treasury market?Follow Henssler:  Facebook: http://bit.ly/HensslerFacebook  Twitter: http://bit.ly/HensslerTwitter  LinkedIn: http://bit.ly/HensslerLinkedIn  Instagram: https://www.instagram.com/hensslerfinancial/YouTube: http://bit.ly/HensslerYouTube   “Money Talks” is brought to you by Henssler Financial. Sign up for the Money Talks Newsletter: https://www.henssler.com/newsletters/ 

Ever feel tangled in the complex web of trusts and estate planning? Fear not, we've got your back! In this enlightening episode, we layer back the mystique of trust drafting, diving straight into the heart of revocable living trusts, irrevocable trusts, and the stealthy convertible trust. We take a magnifying glass to the unique features nestled within each type, demonstrating how you can harness them to serve your specific needs. You'll see how an irrevocable trust, despite its sturdy exterior, can protect your assets while still allowing you to draw an income, all under the watchful eye of a trusted fiduciary. Turning the page to estate planning, we illustrate the sheer power of a trust in your estate plan. Want to talk to an estate planning and elder law attorney for free? We share the golden path to free legal advice and set the stage for what to expect during a no-strings-attached consultation with an attorney about your estate plan. We also dispel common concerns about irrevocable trusts, bringing to light the concept of a convertible trust - the Swiss army knife of trusts, boasting the adaptability of a revocable living trust with the protective armor of an irrevocable trust. Get ready to conquer the world of trusts and estate planning! Tune in, sit back, and enrich your knowledge.

https://corteslawfirm.com/oklahoma-revocable-living-trust/Download our ESTATE PLANNING STRATEGIES TO PROTECT YOU AND YOUR FAMILY  https://geni.us/strategies  https://corteslawfirm.com/estateplanning/Estate Planning for Dummies https://amzn.to/2NNXak7 Aging in the Right Place https://amzn.to/2ZvYavY Estate Planning Basics Ninth Edition https://amzn.to/3s5ZJgm Estate & Trust Administration For Dummies https://amzn.to/3dvLpcZFind us on SUPER LAWYERSFind us on TikTokFind us on FacebookFind us on InstagramDirections on Google MapsVideos on YouTubeFind us on YELPFind us on TwitterFind us on AVVOCortes Law Firm5801 Broadway Extension Hwy Suite 110Oklahoma City, OK, 73118405-213-0856

When is it the smart to follow the crowd, and when can it get you burned? Join John as he delves into the powerful influence of groupthink and how it can lead to unexpected pitfalls for even the savviest investors. (3:30)  Presented by Creative Planning, each week Host and Managing Director John Hagensen cuts through the headlines and loud takes to challenge the advice you may have been given and reaffirm what you know to be true. Plus, don't miss his weekly interviews with Creative Planning specialists as they cover investing, taxes, estate planning and many other areas that impact your financial life! Important Legal Disclosure: creativeplanning.com/important-disclosure-information/ Have questions or topic suggestions? Email us @ podcasts@creativeplanning.com

You may have heard the sentiment that parenting is one of the most challenging yet most rewarding jobs there is. That is even more true when raising a child with special needs because they often come with unique challenges. It's easy to quickly become overwhelmed mentally, emotionally, and even financially and physically at times. Your sense of normalcy may seem different from others around you, leading you to feel isolated and alone, unsure of what to do or where to turn.  To help provide some answers, we sat down with Kerrie Lloyd, Vice President at Index Fund Advisors, author of Planning the Future for A Special Needs Child, and founder of Integrative Solution Services LLC, where she provides consulting and collaborative tools to the special needs community. Kerrie is also a Doctor of Natural Health, NhD, and earned her certification in Pivotal Response Therapy for Autism through the Koegel Autism Center at UC Santa Barbara (now at Stanford University). She also earned her Chartered Special Needs Consultant (ChSNC®)* designation in 2020 through The American College for Financial Services, a fully accredited institution by the Middle States Commission of Higher Education. Despite all the accolades, Kerrie's most important job is as Adam's mom. Adam was diagnosed with Autism and Deafness early on, and through her experiences with him, she has learned what it takes to raise and care for a special needs child. Kerrie noticed that special needs children go through a series of life stages, each marked by major events, such as diagnosis, the beginning of school, and the transition to adulthood. Having this knowledge makes it easier to prepare for each stage, eliminating the fear of the unknown for parents. Now that Kerrie is in the later stages with Adam, she has compiled her experiences and resources to share this insight and knowledge with others. In this episode of Absolute Trust Talk, we will discuss: The six stages of life for an individual with special needs. The key planning components and milestones that mark each of the stages.  What the transitions from each phase look like.  Important resources that are available and how to access them.  The importance of obtaining legal help to ensure that parents understand their rights, know what they can ask for, and ensure that they aren't missing any steps.  And much more.  It can be difficult to navigate life's complexities with a special needs child, but you don't have to go through it alone. Understanding these life stages can help you better understand your child, feel more prepared for each milestone, and even unlock enriching and fulfilling moments.

A revocable trust can have many advantages versus just having a simple will. While many are predisposed to want a simple will, the truth is that a simple will result in all assets passing through the probate court. The probate court can be a slow, cumbersome, and costly process. On the other hand, having a revocable trust can create a more straightforward, faster, and less costly process in the long run. To find out more on this topic, you can read our article on Family Law Headquarters titled: What's the Advantage of a Revocable Trust?  You can also call our Estate Planning Attorneys at 855-805-0595 or reach out to our trust attorneys in Chicago, Illinois and elsewhere online. 

In this episode: Avoid heavy penalties by disclosing any accounts you hold in other countries that total over $10,000. "Back door tax increase" created by new 401(k) catch-up contribution rule. Revocable Trusts: explanations and best practices. We also hear from Todd Stonesifer, President of The Moving Experience, a local real estate brokerage on how he's shaking up the real estate business.  Todd is also the President of the Board of Directors for the Downtown Dover Partnership.  He fills us in on the big plans starting to unfold in Downtown Dover, Delaware and what's next on the list to revitalize the area. 

A random reason to have a revocable trust. If you have questions about this or anything else related to probate, and you want to talk with us, over the phone, for free, just go to https://cmslawfirm.com and set up a time to chat. #estateplanningattorney #probatelawyer #family #money #medicaid #estatetaxes #wealth #kids #taxes #realestate

Actor and radio personality Casey Kasem occupied a singular place in American popular culture. As he counted down the hits for the week via his show, American Top 40, he was also doing something else that was decidedly more important — providing a sense of consistency that we could all rely on. World affairs might rattle us, and the financial markets volatility might worry us, but regardless of what else was transpiring in the world, we could always count on Casey to entertain us with his one-of-a-kind voice, and all would still seem more or less normal. Unfortunately, the final chapter of Casey's own life was anything but ordinary. In 2013, one of Casey's daughters from his first marriage announced that he had been living with Parkinson's for six years. However, the diagnosis was later changed to Lewy Body Dementia. Not long after, Casey's three adult children assembled in front of his house to publicly complain that Jean Kasem — Casey's wife of 30 years — was intentionally keeping them from their now-incapacitated father. Things only got more vitriolic and combative, with circumstances pitting Jean Kasem and her reckless and duplicitous behavior against Casey's three older children. Join Kirsten Howe and associate attorney Madison Gunn as they examine the circumstances surrounding Casey Kasem's much-publicized and most unusual passing. We're not using the term “unusual” loosely here, as several aspects thoroughly separate this case from the estate planning disputes we often see. This conflict didn't stem from haphazard estate planning, nor was money the source of discord for this blended family. This altercation was centered almost entirely on how Casey's health care should be administered. Kirsten and Madison will also look at some new California healthcare legislation — Sections 4711 and 4712 of the California Probate Code and analyze what, if any, difference it might have made had it been in effect while Casey's unfortunate saga was playing out. In this episode, we're going to discuss: How even a well-thought-out, comprehensive health care directive and a court-appointed conservatorship can be rendered ineffectual when an involved party chooses to blatantly disregard them. Why doctors are inclined to seek authority to treat their incapacitated patients and not pursue the whereabouts of advance health care directives unless those documents are brought to their attention? Why proper communication is the most overlooked aspect of estate planning. Why Casey's decision to list his daughter Kerri, and not his wife Jean, as his agent on his health care directive might have reflected his concerns about how Jean might handle such authority. And much more. Don't miss this episode as we highlight some important legal wisdom that could have alleviated the conflict in this estate plan that you should be aware of for your own planning.

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

On the show today, Katie Nentwick, the owner of Nentwick Legal Services, LLC. Katie is a business, tax, and estate planning attorney who assists business owners, real estate investors, and families all over the country. In this episode, we discuss the topic of trusts, specifically revocable and irrevocable trusts. Katie provides us with a thorough explanation of what a revocable trust is and when it might be useful to have one. She also explains what an irrevocable trust is and the circumstances under which it would be necessary. Katie offers valuable insights into the different types of trusts that you should avoid and why. She also discusses the importance of choosing the right trustee for your trust and the considerations that should be taken into account when making this decision. Whether you are a business owner, real estate investor, or simply looking to protect your family's wealth, this episode is a must-listen. So, tune in and join us as we delve deeper into the world of trusts, and learn how you can use them to build your wealth and secure your financial future. Episode Highlights: What is a Revocable Trust? When do you need an Irrevocable Trust What type of Trust should you avoid? Links: Katie's Website Email: Katie@nentwicklegal.com  Save Taxes in your business: Free Consultation  Follow me: https://www.instagram.com/thepatdarby Weekly Tax Tips & Deadline Reminders: Get Tax Reminders

You are not going to lose your house by putting it into a revocable trust. If you have questions about this or anything else related to probate, and you want to talk with us, over the phone, for free, just go to https://cmslawfirm.com and set up a time to chat. #estateplanningattorney #probatelawyer #family #money #medicaid #estatetaxes #wealth #kids #taxes #realestate

Should you put your car in your revocable trust? If you have questions about this or anything else related to probate, and you want to talk with us, over the phone, for free, just go to https://cmslawfirm.com and set up a time to chat. #estateplanningattorney #probatelawyer #family #money #medicaid #estatetaxes #wealth #kids #taxes #realestate

Ever open a closet drawer only to discover something from your past that's long since been rendered obsolete? More often than not, this obsolescence comes by virtue of outdated technology — or, in the case of clothing, because of a shift in what's considered fashionable. Think VHS players, a Sony Walkman . . .  parachute pants. While you probably wouldn't expect to find any such relics within the realm of estate planning, they might just exist there too. If you're married, an excellent case in point is the AB trust you've been holding onto for quite some time — maybe without even knowing it. And like those archaic electronic devices or that “of its time” fashion, it may be time to kick it to the curb. At one time, AB Trusts were very common. They harnessed a specifically designed structure to minimize exposure to the California estate tax laws that included a surprisingly low exemption — as low as $1 million dollars. So, if a couple had a worth of $2 million and one spouse died, the remaining spouse was often saddled with a substantial estate tax liability. But, in 2013, those estate tax laws changed dramatically. That exemption mentioned above was bumped up by a multiple of more than 12 times — meaning that it now shielded a far greater number of estates from estate tax liability and, for many couples, also rendered their AB Trust obsolete. Are you one of these couples? Tune into the latest episode of Absolute Trust Talk to find out. Kirsten Howe and associate attorney, Madison Gunn, will take a close look at AB Trusts, including the reasons why they became such a “go-to” strategy for so many married couples, why this type of trust can be more trouble than they're worth for some, and how they still offer specific protection that may make them invaluable for a few others. In this episode, we're going to discuss: Why AB Trusts were often the perfect fit for married couples based on the estate tax laws in place about a decade ago. How the AB Trust got its name — including Kirsten's take on the trust's naming origin. The specific requirements of an AB Trust. These requirements entail a considerable amount of legal and accounting work at a certain point, and extra costs come with that. The primary consideration that must be made to determine whether or not an AB Trust is still the best option for you. Some scenarios that can play out in the absence of an AB trust. These scenarios may make an AB Trust your best option despite its requirements. Why, if you haven't updated your trust in the past decade, you should make an appointment with your trust attorney ASAP. And more. Despite those changes to California estate tax laws, many couples still retain an AB Trust that will profoundly impact how their estate is maintained in the event one spouse dies. It's our goal for you to walk away with a clear understanding of this sometimes misunderstood — and potentially outdated — estate tax strategy.

Sometimes a revocable trust makes great sense for a solo ager estate plan. Generally, revocable trusts aren't so great in New York, because they can be hard to fully fund. The main goal of a revocable trust is to avoid probate. Since revocable trusts are hard to fully fund, the goal of avoiding probate is not usually met. Here are a few reasons a revocable trust may nonetheless work for a solo ager. Distant or disinherited heirs Solo agers tend to have distant or disinherited heirs. By definition, a solo ager is usually unmarried, without children, or those individuals are not in the picture. Naturally, this puts the solo ager in a situation where their heirs are distance (nieces, nephews, siblings, etc.). We had a recent client whose solo natural heir was a distant cousin. In this case, a trust makes sense to avoid probate. When the remaining heir is a first cousin, there are extra hurdles during the court process such as: hiring a genealogist to submit a genealogy report, having the Public Administrator (PA) review court dates, and it generally makes probate longer and more difficult. To be clear, this process not only applies when you leave something to that distant cousin. Rather, the probate process requires you to notify you natural “default” heirs under New York State law, which includes distant cousins. Even if you don't want to leave anything to the distant heir, the estate is still required to go through this process if the estate is probated. Similarly, if you have a disinherited family member, they have the opportunity to object to your will or wishes during the probate process. Having a trust still gives them the opportunity to object, but it is not as structured as probate. Under the probate process, the heirs must be served notice of the proposed will distributions, during which they have the right to object. When administering a trust, the heirs are not required to receive notice. Unless the heirs do some digging on their own, they may not actually object. As mentioned above, you must fully fund your trust in order to avoid these problems. Say you have an apartment, a few bank accounts, and a few brokerage accounts. If, for example, the apartment does not make it into the trust, you still have to go through probate even if the bank and brokerage accounts are in the trust. Even if only one asset goes through probate, you are at risk for a longer probate process (described above) and the potential issues with distant heirs. In lieu of guardianship A revocable trust can be useful in lieu of guardianship. Putting your assets into a trust can help avoid and maybe deter the dreaded court-appointed stranger. There are situations where court-appointed strangers/guardians might impose themselves on a solo ager with no advocates. They might get the court to agree that the solo ager is incompetent to manage assets (when in fact, the solo ager is able). Thus, the court-appointed guardian gains control over the solo ager's assets. The Netflix movie, “I Care a Lot,” is a dramatized version of how something like this could happen. If all of your assets are in a trust, and the trust is drafted properly, the court will not appoint a stranger or guardian to gain control of your assets. The trust states who will receive your assets, so there is little incentive for a person to try to get appointed as your guardian. For the goal of avoiding guardianship, partial funding of the trust if ok if you are able to get the majority of your assets into the trust. As long as the assets that don't make it into the trust are not enough of to lure a court-appointed stranger, then it should be fine. Again, it is a lot of work for someone to convince the court that you are incompetent. End of life planning (maybe) When you are terminally ill, you know that the end is near. This makes planning easier, because you know what your assets will be upon your passing. In contrast, planning at a younger age means that bank accounts will change or you may buy and sell houses. Knowing roughly when you might die makes it less likely that you will miss something during the trust funding process. But, even if you know that exact date and time that you will die, it's still hard to capture every asset. Also, if you are terminally ill, you may not want to spend your last moments planning your trust. Solo Ager Book Again, revocable trusts don't make a lot of sense for most situations in New York, but they do make sense for solo agers for the reasons listed above. If you want to learn more, check out my book, “The Solo Ager Estate Plan,” on Amazon. Or, if you fill out the form below, we're happy to send a free copy to you. Free copy of "The Solo Ager Estate Plan" Complete this form to receive your complimentary copy of Anthony's Amazon best-seller, “The Solo Ager Estate Plan”

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.

What should you name your revocable trust? -- 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.

What is a Revocable Trust (or irrevocable) and should you set one up Thank you for listening to another episode of Wealth Game podcast. The goal is to get informal yet actionable advice directly to business owners and investors. The episodes are intended to be short and simple to allow busy professionals to get right to the point of growing their wealth and reducing their taxes. For topic suggestions, questions to cover, or collaboration requests please email questions@wealthgamepodcast.com. For additional information and links to all available platforms please visit our website at www.wealthgamepodcast.com

Muestra invitada Miriam Toro te comparte cómo puedes sacarle provecho a tu corporación al crear tu Living Trust y tu Plan de Retiro adecuadamente, haciendo uso adecuado de tu corporación. Aquí el tiempo y la información valen oro. Lo que vas a escuchara va a cambiar como ves tu futuro y verás como dejar un legado a tu familia.

Finally back from my mini-hiatus and it's time to get busy! So many of us talk about generational wealth and how important it is to build but very few of us talk about how to actually build it. Property goes unclaimed and undersold at an alarming rate in the United States. Mainly because a lot of people don't know what to do with what they have inherited. In this episode, I cover: How to include your children in the process Setting up a Revocable Trust and how to make it last for generations Also inviting you to my masterclass where I will be able to break this down even more! If you are ready to deep dive into using real estate to create wealth for yourself and your future join my masterclass today: https://www.greeneverythingcommunity.education/TRTFFI90

Join Mark and Mat for Part 1 of a 3-part series on Estate Planning. Fun, interesting, and always informative.Related Article: https://markjkohler.com/do-i-need-a-living-trust-what-you-need-to-know/Get your estate plan done with our Annual Special here: https://kkoslawyers.com/estate-planning-special-2021/For more info get over to www.mainstreetbusiness.com

In today's episode, Sara Josey from Select Law Partners discusses the five most common myths surrounding a revocable trust. Listen in to discover if you really know the benefits of a revocable trust or if your myth is busted! 

Learn the differences between revocable and irrevocable trusts here: https://creativeplanning.com/education/podcast/revocable-trusts-vs-irrevocable-trusts/A Matter of Trust, hosted by Creative Planning Attorneys Annie Rogers and Christina Knopke, is a thoughtful, informed discussion about ideas, trends and developments in estate planning. Our mission is to educate and inspire people to make better financial choices through knowledge, tools and strategies that ensure a more prosperous future.Important Legal Disclosure: http://bit.ly/2DC250bHave questions or topic suggestions? Email us at podcasts@creativeplanning.com

Listen to some more reasons to call your estate attorney: https://creativeplanning.com/education/podcast/reasons-to-call-your-estate-planning-attorney/Learn the difference between a revocable and an irrevocable trust: https://creativeplanning.com/education/podcast/revocable-trusts-vs-irrevocable-trusts/ A Matter of Trust, hosted by Creative Planning Attorneys Annie Rogers and Christina Knopke, is a thoughtful, informed discussion about ideas, trends and developments in estate planning. Our mission is to educate and inspire people to make better financial choices through knowledge, tools and strategies that ensure a more prosperous future.Important Legal Disclosure: http://bit.ly/2DC250bHave questions or topic suggestions? Email us @ podcasts@creativeplanning.com