Podcasts about successor trustee

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

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

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

There are many things to consider when choosing a trustee or successor trustee for a trust. The trustee will face a number of challenges over the course of their service and will need to plan ahead to avoid the inevitable pitfalls.  In this episode of Trust Me!, we discuss a proactive plan for a trustee to successfully administer a trust, and an overview of primary things to consider to mitigate the risk of adverse action against a trustee. About out Guests: Herbert A. Stroh, Esq. is a partner at McCormick and Barstow in San Luis Obispo, California, where he assists clients in trust and estate litigation, administration, planning, and conservatorships. He has also served as a mediator in trust and estate disputes. Josh Yager, Esq., CFP is the managing partner of Anodos Advisors, a fiduciary consulting firm in Santa Barbara, California, where he is a recognized content expert on the issues of fiduciary duties relating to the management and oversight of trust assets. About Our Host:Daniel C. Lorenzen is a partner in the Los Angeles office of Venable LLP, where he advises  individuals, families, and closely held businesses that have contacts in California, the United States, and around the world. He advises clients on all of the traditional tools of wealth planning, with an eye for holistic planning to minimize federal, international, state, and local taxes.Thank you for listening to Trust Me!Trust Me is Produced by Foley Marra StudiosEdited by Todd Gajdusek

This week on 15 Minutes with Paul Ward, we delve into the world of Family Trusts with experts from Grennier Law - Todd Mannis, Christine Grennier, and Waldo Ybarra. Exploring the prevalence and advantages of Trusts over Wills, we tackle common hesitations surrounding Trust establishment, backed by real-life examples illustrating the consequences of neglecting one. From navigating Probate Court costs to addressing healthcare directives, our guests provide invaluable insights into the process's intricacies and the importance of periodic Trust review. Join us as we empower listeners to take the significant step towards securing their financial future, emphasizing the crucial role Trusts play in asset distribution and ensuring peace of mind for loved ones. Watch the complete episode HERE: What you will learn in this episode: 0:00 Introduction of guests, Todd Mannis, Christine Grennier and Waldo Ybarra of Grennier Law 0:40 Episode topic: Family Trusts 1:15 What percentage of people have a Trust? 1:27 A research project done by Grennier Law to demonstrate the number of people who had a Trust 1:39 What is a “Trust?” 2:08 The Advantages of a Trust over a Will 2:24 With a Trust, you can dictate who will get what when you pass 2:40 Why do people NOT put a Trust together? 4:38 Paul's real-life example of what happens when you do NOT have a Trust 5:33 The cost of Probate Court 6:29 The court will decide who gets what in Probate Court 7:03 Advice given to people who do not have a Trust yet 8:28 How long does the process to set up a Trust take? 8:44 Who you can choose your assets to go to 9:27 Complications of a blended family and another benefit to a having a Trust 10:35 What is HIPPA? 10:55 Trust also dictates if you want your life prolonged; the use of life support 11:14 The Chapters of a Living Trust and the “flow” of process to getting one 12:36 Who oversees the process once the Trust owner, or Trustor, passes 13:26 The more detailed the Trust is, the better 13:56 The Successor Trustee is given a time frame to complete the directives of the Trust 14:09 How often should Trusts be renewed? 14:39 The biggest leap is getting people to actually get a Trust for themselves 15:24 Grennier Law serves all of California and contact information 16:35 A special Thank You to our Sponsor, Opus Escrow   Related Episodes: Home Sweet Covered Home: The Secrets of Home Warranties Insure Your Peace of Mind: Navigating California's Insurance Maze From Confusion to Confidence: Securing Your Investment & Mastering Escrow   Grennier Law: Offices in Oxnard and Ventura www.grennierlaw.com 805-394-8833   How to reach Paul: paul@homeandranchteam.com 805-643-3900   Check out our featured listings as well as other properties for sale in the area: www.homeandranchteam.com   Have ideas for future episodes? We'd love to answer your questions - leave a comment! For any home buying or home selling needs in the Ventura County area of California, please reach out to Paul@homeandranchteam.com or visit www.homeandranchteam.com   A special THANK YOU to our sponsor! Farm Talk with Paul Ward would not be possible without the support of our sponsor Opus Escrow. Supporting our sponsor ensures Farm Talk can provide listeners with the best possible episodes.

Gary Quackenbush and Expert Mortgage Advisor Shanne Sleder explain how to purchase a home with a HECM. Gary advises how to select your Successor Trustee.Support the show: https://www.gqlaw.com/See omnystudio.com/listener for privacy information.

Can the successor trustee be a beneficiary under the 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!

Shanne Sleder - Mortgage Expert - SanDiegoMortgageNews.com - explains how to buy a home with a reverse mortgage. CA Atty Gary Quackenbush - GQLAW.com - teaches how to be a good Successor Trustee.Support the show: https://www.gqlaw.com/See omnystudio.com/listener for privacy information.

CA Attorney Gary Quackenbush teaches how to be a good Successor Trustee and what to expect as a Beneficiary. Support the show: https://www.gqlaw.com/See omnystudio.com/listener for privacy information.

Estate Planning and Trust Administration with Gary Quackenbush. How to contest a trust without being disinherited. How to select a Successor Trustee. Support the show: https://www.gqlaw.com/See omnystudio.com/listener for privacy information.

Word on Wealth - Estate Planning for Blended Families. Successor Trustee's job. How to be a good fiduciary.Support the show: https://www.gqlaw.com/See omnystudio.com/listener for privacy information.

Gary explains a Successor Trustee's duties, how to choose a Successor Trustee, and pitfalls of being a Successor Trustee. Rich explains how to prepare a successful Offer in compromise with the IRS and things to avoid. Support the show: https://www.gqlaw.com/See omnystudio.com/listener for privacy information.

Gary and Rich explain how to do your job as Successor Trustee. Gary and Rich discuss how the IRS plans to collect money with the new $80B they received over the next 10 years to bolster enforced (involuntary) collections. Support the show: https://www.gqlaw.com/See omnystudio.com/listener for privacy information.

How to build incentintives into your living trust. How to build disincentives into your living trust. How to Be a Good Successor Trustee. 6 things every Successor Trustee must do.Support the show: https://www.gqlaw.com/See omnystudio.com/listener for privacy information.

How to navigate the chaos at the SS department. How to be a good Successor Trustee.Support the show: https://www.gqlaw.com/See omnystudio.com/listener for privacy information.

Ken Pecus explains how the SVB collapse made real estate buying a better idea. Ken Pecus explains how the SVB and Signature Bank failures affect mortgage rates. Gary talks about how to get the Successor Trustee to do their job right. Support the show: https://www.gqlaw.com/See omnystudio.com/listener for privacy information.

Gary and Rich discuss how to be a good Successor Trustee, How to avoid getting sued by your siblings, what to do when you have not filed tax returns for several years, and Offers in Compromise with the IRS. Support the show: https://www.gqlaw.com/See omnystudio.com/listener for privacy information.

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.

Gary discusses the news report of Cathy Areu, the Florida woman who kidnapped her mother, put her in a facility when she did not need it, and stole her money. Who to choose to be your Successor Trustee? How do you put your business into a trust?Support the show: https://www.gqlaw.com/See omnystudio.com/listener for privacy information.

Gary explains how a beneficiary can get their money and what a Successor Trustee needs to do. Gary and Rich explain what to do when the IRS files a dummy tax return for you and starts to take your money.Support the show: https://www.gqlaw.com/See omnystudio.com/listener for privacy information.

Outline of documents needed for a complete estate plan. How to choose a Successor TrusteeSupport the show: https://www.gqlaw.com/See omnystudio.com/listener for privacy information.

Challenges that arise inside of the financial world can be complex. For example, what is the difference between a trustee and a successor trustee or executor? What are the job duties for all the positions inside your Legacy Plan? On Your Retirement Playbook, we will discuss various job duties and responsibilities. Call now to schedule your complimentary Next Steps meeting at 800-928-4001 or learn more at www.yourlifeafterwork.com.   Connect with Financial Enhancement Group: Visit our Facebook page at www.Facebook.com/FinancialEnhancementGroup Join our Facebook Group at www.yourlifeafterwork.com/FinancialTidbits Visit our website at www.yourlifeafterwork.com We would love to answer your questions on air! Give us a call at 800-928-4001 or send them to TalkToFEG@yourlifeafterwork.com

Sarah Morris, Partner and CEO of Morris Law Center, explains what happens when you become a Successor Trustee of a Living Trust in Nevada, as well as the steps you should take and things you should keep in mind. -- Learn More about Estate Planning: https://www.morrislawcenter.com/las-vegas-estate-planning -- If you need estate planning, probate, business, or real estate legal help, we should talk. Sarah Morris is the CEO of Morris Law Center. She created it with one goal - help Prepare You for the Future, and Protect You Along the Way. Visit our website and follow our social channels, linked below, to stay connected: Website: https://morrislawcenter.com/ Facebook: https://www.facebook.com/morrislawcenter Instagram: https://www.instagram.com/morrislawcenter Twitter: https://twitter.com/MorrisLawCenter LinkedIn: https://www.linkedin.com/company/morrislawcenter

Successor Trustee Selection & Bankruptcy Basics. Support the show: https://www.gqlaw.com/ See omnystudio.com/listener for privacy information.

Special Needs Trusts. Getting your inheritance. Dealing with the Successor Trustee. Support the show: https://www.gqlaw.com/ See omnystudio.com/listener for privacy information.

Do not underestimate the job of a Successor Trustee. It's hard work, but must be done according to the law. Steps to follow . . .    Support the show: https://www.gqlaw.com/ See omnystudio.com/listener for privacy information.

How to be a good Successor Trustee.  Option for Solving Tax Problems. Support the show: https://www.gqlaw.com/ See omnystudio.com/listener for privacy information.

How to choose a Guardian and Successor Trustee. How to be a Successor Trustee, legally. IRS Problems can be terrifying, but there is hope! Support the show: https://www.gqlaw.com/ See omnystudio.com/listener for privacy information.

Being a good Successor Trustee is hard work! Gary Quackenbush teaches us what it takes to be a good Successor Trustee - a good fiduciary - and what a Beneficiary should watch for to make sure the Successor Trustee is getting the job done right. Support the show: https://www.gqlaw.com/ See omnystudio.com/listener for privacy information.

Gary and Phil Rodriguez of DIMIRAK Insurance discuss the ins and outs of cyber insurance.  In the second half of the show, Gary explains how to be a good Successor Trustee and how to perform all the legal requirements of the Successor Trustee job.  Support the show: https://www.gqlaw.com/ See omnystudio.com/listener for privacy information.

Is it Okay to Choose Siblings as Trustees? Will your brother or sister follow the instructions in your Estate Plan? It's critical to select a replacement "Successor" trustee. Sometimes we don't want to create unpleasant emotions with our children, so many people choose a brother or sister as Successor Trustee instead. The issue is that as you grow older, so does your brother or sister.Visit the Cortes Law Firm for more information.Find us on FacebookFind us on BirdeyeFind us on InstagramDirections on Google MapsVideos on YouTubeCortes Law Firm5801 Broadway Extension Hwy Suite 110 Oklahoma City, OK, 73118405-213-0856 

Who is my Successor Trustee If I don’t name one? -- 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… and p.s. It would mean the world to me if you hit the subscribe button.

Who you choose for your successor trustee is a big decision, but how do you choose? Join us as we talk about what to consider!   Connect with Financial Enhancement Group: Visit our Facebook page at www.Facebook.com/FinancialEnhancementGroup Join our Facebook Group at www.yourlifeafterwork.com/FinancialTidbits Visit our website at www.yourlifeafterwork.com   We would love to answer your questions on air! Give us a call at 800-928-4001 or send them to TalkToFEG@yourlifeafterwork.com

It is often true that the best challenge is after a foreclosure is complete. I know that sounds crazy. But tonight we will discuss tactics and strategies in foreclosure defense in which we can hang the evil-doers by their own paperwork. It's true that eventually, the truth comes out — or at least part of it. When the “credit bid” is moved around and the deed from foreclosure is granted, the party involved is often not the named party who sued you or on whose behalf the Notice of Default was sent. Here is some of the wording that we will look at and analyze: This Deed is made by Paul M. Halliday, Jr., as Successor Trustee and a member of the Utah State Bar, under the Trust Deed described below, in favor of U.S. Bank National Association, as Trustee, successor in interest to Bank of America, National Association, as Trustee, successor by merger to LaSalle Bank National Association, as Trustee, for LXS 2007-8H, ASSET-BACKED NOTES, SERIES 2007-SH, P.O. Box 619080, Dallas, TX 75261-9741, as Grantee. WHEREAS, on XXXXXXX, 2007, ZZZZZZZZZZZZZ,, as Trustors, executed and delivered to Meridian Title, as Trustee, for the benefit of Mortgage Electronic Registration Systems, Inc. as nominee for Varent Inc., a Utah Corporation, its successors and assigns, as Beneficiary, a certain Trust Deed to secure the performance by the Trustors of obligations under a Promissory Note of the same date executed and delivered for a valid consideration to the Beneficiary and the Trust Deed having been recorded in the office of the Utah County Recorder on XXXXX, 2007, as of Entry No. XXXXXXX:2007, describing the property set forth below; and WHEREAS, Paul M. Halliday, Jr., was duly appointed by the Beneficiary as Successor Trustee by a Substitution of Trustee recorded in the Office of the County Recorder of Utah County, State of Utah, on XXXXXXX, 2015, as Entry No. XXXXXXXX:2015;

A successor trustee is tasked with managing the assets in your trust. This responsibility only kicks in, however, once you can no longer effectively serve as your own trustee. A successor trustee will eventually transfer your assets to your beneficiaries but must fulfill certain fiduciary duties before doing so. Learn more in this podcast of the Bottled Business Sense Show. http://bottledbusinesssenseshow.com https://www.avvo.com/legal-guides/ugc/duties-of-a-successor-trustee-following-the-death-of-the-settlor

Cathy discusses why it's so important for single women to have an estate plan, which documents make the most sense given your financial circumstances, and who to consider asking to execute your wishes in the event of incapacity or death.For show notes and important links, visit: https://curtisfinancialplanning.com/2020/12/01/s2-e3-estate-planning-must-haves-for-single-women/

Must a Successor Trustee Follow the Terms of a Trust in Indiana? -- 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… and p.s. It would mean the world to me if you hit the subscribe button.

Peter Mallouk and co-hosts, Attorneys Annie Rogers and Chrissy Knopke, discuss the role of executor and successor trustee in estate planning. They review how the choice you make can impact the legacy you leave in ways you can't imagine. Listen in as we explore these topics in the latest podcast episode.A Matter of Trust, hosted by Creative Planning President Peter Mallouk and 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 Creative Planning legal disclosure: http://bit.ly/2DC250b

Peter Mallouk and co-hosts, Attorneys Annie Rogers and Chrissy Knopke, discuss the role of executor and successor trustee in estate planning. They review how the choice you make can impact the legacy you leave in ways you can't imagine. Listen in as we explore these topics in the latest podcast episode.A Matter of Trust, hosted by Creative Planning President Peter Mallouk and 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 Creative Planning legal disclosure: http://bit.ly/2DC250b

Can I change the successor trustee of my revocable trust? I love comments. I make videos to help people with no expectations. Please take a second to say Hi in the comments and let me know what you thought of my video. ------ If you need estate planning or probate help, we should talk. The easiest way to do that is to click the link below and choose a date and time that work for you (over the phone or in-person). https://estateplanmeeting.com Scott Aubrey is the owner of Aubrey Law. ------- You’ll find information about estate planning, probate, revocable living trusts, irrevocable trusts, irrevocable life insurance trust, wills, trusts, durable power of attorney, health care proxy, trustee selection and other helpful estate planning tidbits. Facebook: https://www.facebook.com/aubreylegal/ LinkedIn: www.linkedin.com/in/scottaubrey Website: https://aubreylegal.com

Estate Planning Difficult Decisions Day Who should be my Trustee? Who should be the Guardian? Gifts to charity. How to "control" distribution- based on age, maturity, or other criteria Is it a good idea to try control distribution? - Or just let them have it all at once? Options for Successor Trustee and Guardian Family or Friend Professional - Private fiduciary or Institution? Distribution Options: Sprinkling Staged @ ages, @ life stages, @ accomplishments, @ land-marks Pooled Trust Successor Trustee's discretion Words, words, words - how to get it all written properly. How kids lose their inherited money. Mostly on crazy investments and wild ideas.

Live caller, Larry, calls with a question about his buddy Bob who has Parkinson’s disease. Bob signed over Successor Trusteeship to Larry and he want to know how to handle it. Second half of the show, GQ discusses using private (ie., family member or friend) as Successor Trustee vs. using a Professional fiduciary. Advantages Disadvantages GQ preference? is to have the personal touch. Phone caller Laurie, has a trust that needs updating.

Leaving your final wishes to someone else can be a daunting prospect. Your Personal Representative or Successor Trustee could steal it all, but it is very unlikely if you plan correctly. Technically...They Could Take It All Just a likely they could rob a bank. In reality is Personal Representative and Successor Trustees don't steal from estates. Most often your estate is protected because you picked a trustworthy person. In Oregon, the Probate Court will keep an eye on your estate. Beneficiaries will also keep a close eye on the Personal Representative or Successor Trustee. If they smell anything fishy, they have options for correcting the situation. The Powers They Do Have Personal Representatives and Successor Trustees have lots of power. Their power comes from your Will or Trust and the State Laws. Generally, they can do most anything that achieves your wishes and desires. However, they can't do anything illegal. Personal Representatives and Successor Trustees Have Similar Duties There are really four main duties for both Personal Representative and Successor Trustees. Gather all of your assets. Pay creditors. Disburse your assets pursuant to your wishes, or the State Laws if you don't have an Estate Plan. Close your Estate. If you'd like to learn more or have any other Estate Planning questions, please schedule a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation/

Living Trusts play an important role in estate and financial planning, when enacted properly. The problem, of course, comes when a document hasn't been updated to reflect the change in family dynamics, tax law or legal circumstance. First and foremost, your trust must actually be funded, i.e., there must assets it actually controls. Assuming the trust is actually funded, the most important part of the trust is the identification of trustee and successor trustee. These are the people who actually control the trust day to day management. What you want to happen with your trust is contingent on these people. Typically, the trustee will be the grantor of property to the trust. Usually, that will be you. You grant property to the trust AND you are trustee. You control the trust. You can change it. Cancel it. Do whatever you want. Any income generated in the trust, flow to your 1040 to be taxed. In actuality, you still own the property. In fact, the value of the asset in your trust will be included in your estate at your death. Where the trust can be beneficial will be if you, again the grantor and initial trustee, become incapacitated or die. Then the person you named as Successor Trustee will step into the role to manage your trust. And this is why your choice of Successor Trustee is SO critical. Is your Successor Trustee still capable and willing? Does he or she understand the ramifications and the potential effort required to manage your trust according to your wishes? Remember, a living trust, i.e., a revocable trust, becomes irrevocable at your death. Thus, only a court order can change the way you have chosen for your trust to be managed AND who the people are who are appointed to manage the trust. Have things changed since you set it up? Maybe the Successor Trustee has become addicted to gambling, for instance.. Do you still want him then to manage your trust? So, let me ask you. Do you have a Living Trust? Yes? When was it drawn up? Have things changed since then? Is it funded? Who is the Successor Trustee? What powers have you granted that person? Finally, do you really even need it? You really should be able to answer all these things. If you can not, I recommend you seek competent counsel. --- Support this podcast: https://anchor.fm/josh-scandlen-podcast/support

There are many reasons that everyone needs an Estate Plan. These are the first three reasons that come to the top of my mind because they seem to really resonate with my clients. Put Your Worries To Bed Having an Estate Plan can get you more sleep and night and reduce those stress wrinkles. Knowing that you've: Named the right guardians for your children. Appointed someone to care for your financial affairs. Expressed your wishes related to healthcare decisions and appointed a trusted agent to carry them out. These along with many other decisions made in your Estate Plan will keep you from worry. Make Your Own Decisions Without an Estate Plan, you leave decisions to the legislature and the courts. Naming the right people to fill the roles of Successor Trustee, Healthcare Agent and Guardians for your children is something you should do. However, if you don't, these decision are left to a court to decide. In the case of Guardians for you children, this can lead to fighting among family member and the appointment of a guardian you would never want. Division of your assets is left to the State Statutes. This could lead to those you never intended to provide for inheriting the bulk of your assets. Incapacity & Healthcare If you become mentally or physically impaired, you'll need someone to manage your day-to-day affairs. If you're injured and can't make your on medical decisions, you'll need someone to make those decisions for you.  With a comprehensive Estate Plan you'll appoint those people and give them the direction and guidance to make the deicsions you would want. If you'd like to learn more or have any other Estate Planning questions, please schedule a complimentary Estate Planning Strategy Session.

It is common for people, as part of the estate planning process, to establish a revocable living trust to provide for the disposition of trust assets outside of probate. Occasionally, people who previously established a revocable living trust want to amend or modify or revoke their trust. Reasons why people would amend their revocable living trust include someone wanting to change the beneficiaries of their trust; someone wanting to amend how a beneficiary receives his or her portion or share; or perhaps changing the name of the Successor Trustee who is in charge of administering the trust after the death of the Settlor (the person who established the trust).So, how do you amend or revoke your trust? Well, you must first look to the state law of the state that governs the trust instrument. The following is an overview of the Louisiana law applicable to modifying or revoking a trust.What you should never do is pull out a pen and pencil and start marking on your trust. None of this will be valid. Most trust amendments or revocations in Louisiana are done by authentic act. An authentic act, generally, is a writing executed before a notary public and two witnesses, and signed by the person amending their trust, the witnesses, and the notary. Most trust amendments are done this way.The Louisiana Trust Code also provides for modifying a trust by act under private signature, and also by testament. Even though Louisiana law provides for three different ways to modify a trust, most amendments are done through an authentic act.Bottom line - don't try to amend or revoke a will or trust without getting some legal help from an estate attorney. Different rules apply to wills and trusts, and you must work with an attorney who understands all of this and helps you get it right the first time - there is too much at stake.This post is for informational purposes only and does not provide legal advice. Please do not act or refrain from acting based on anything you read on this site. Using this site or communicating with Rabalais Estate Planning, LLC, through this site does not form an attorney/client relationship.Paul RabalaisLouisiana Estate Planning Attorneywww.RabalaisEstatePlanning.comPhone: (225) 329-2450

This week, SHP founders, Derek Gregoire, Keith Ellis, and Matthew Peck CFP®, are asking Attorney Keith McManus from McManus Estate Planning, what is a successor trustee and should you have one? In our SHP Stories segment, Keith Ellis will share a story of a couple who has had the same advisor for over 20 years. They came in to see us for a second opinion and we’re going to share with you what we found. Finally, the partners will discuss the importance of dividends in regards to your portfolio. Don’t miss this week’s episode!

Do you know when and how a Successor Trustee is supposed to distribute your estate once your gone--know exactly what his or her duties are?  Remember, if you have business assets, they should also be in your trust along with your personal assets, and should be properly evaluated and distributed according to the trust's intent. Join Bill and Rick for this revealing show on a Successor Trustee's duties and have a pen and piece of paper handy to take some notes. See more episodes @ http://bottledbusinesssenseshow.com Want to be a guest?  Contact us @ botledbusinesssenseshow@gmail.com