A 2022 survey conducted by Caring.com revealed that 1 in 3 Americans, who do not have a will or living trust, believe that they don’t own enough assets to make the process worthwhile. As an expert in the field with well over 20 years of experience, and serving clients from all walks of life, it’s safe to say that there is some form of estate planning for just about everyone, regardless of the amount of assets held. Understanding estate planning is important because it’s more than just preparing for the future once you’re gone. You must think about things like incapacity, special needs, qualifying for Medi-Cal or Medicaid, And have you considered long-term care planning? What about setting your family up for success to avoid a family feud over assets you may have failed to allocate ahead of time?
To set the record straight, Absolute Trust Counsel’s founder and managing attorney, Kirsten Howe, was recently asked to sit down with hosts Richard Del Monte and Angela Wright of the Del Monte Group for a new episode of A Place of Possibility™ Podcast.
Some things you’ll learn from the episode include:
• The importance of a living trust
• How to solve disagreements among trustees and beneficiaries
• How often someone should update their trust
• Pros and cons of using online tools like Legal Zoom
And more!
It’s never too late to start planning or update a plan you already have in place. So, no matter where you are in your estate planning journey, we hope you find some inspiration to get things in order. It will provide much-needed peace of mind for you and your family.
Big Three from the Podcast:
- If you own any assets, you should have an estate plan to protect your heirs and your legacy, and to avoid probate court.
- It’s important to update your trust when you have any major life changes, family members that come or go, deaths, new partners, etc., and if you have a trust that predates 2013.
- Word to the wise, DON’T use online tools like Legal Zoom or Nolo. They won’t be able to protect you or provide all the options you need fully. “You don’t know what you don’t know.”
Time-stamped Show Notes:
0:00 Introduction
4:02 We all hear about living trusts and their importance in estate planning, but what do they really do? Listen as Kirsten shares her insights.
7:05 How does a living trust differ from a will?
7:34 How does a trustor benefit from having a trust during their lifetime?
10:36 Press play now to hear Kirsten share her insights on how to solve disagreements among trustees and beneficiaries.
13:26 What are the triggers that would cause someone to update their trust?
15:53 Listen in as Kirsten clarifies if you must update your trust every time estate tax laws change.
18:54 Kirsten weighs in the pros and cons of using online tools like Legal Zoom to do estate planning.
22:08 In estate planning, how can you help clients, so they don’t lose government benefits and maintain their inheritance?
24:33 Start listening now to hear Kirsten’s advice on how best to plan for long-term care and how to qualify for Medi-Cal or Medicaid.
29:07 What is the latest with Prop 19? Kirsten shares what you need to know.
31:54 Q&A: What are a couple of the most common pitfalls people face when estate planning?
34:15 Q&A: How does Kirsten feel about prepaid legal plans through work?
36:00 Listen as Kirsten shares more about her podcast, Absolute Trust Talk, and discusses some of the topics and guests she features on her show.
Interested in having Kirsten Howe speak at your next event or for a specific media appearance? Send us a message through our contact us page and we’ll reach out to you to discuss your special event or feel free to call us at 925.943.2740.
[Ad] Do you need help with your estate planning now? We can help. Together our Absolute Trust Counsel team will take a look at your situation and your specific needs and develop a strategic plan that will protect you and your loved ones, regardless of what may come. Here’s a link to schedule your free discovery today at https://absolutetrustcounsel.com/scheduling/.
If you have any questions or need any help, please feel free to contact us by calling 925.943.2740 or sending an email to info@absolutetrustcounsel.com.