Sign up to save your podcasts
Or
Share 047: The Definitive Guide to Trusts, Wills & Estate Planning
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
047: The Definitive Guide to Trusts, Wills & Estate Planning
In this conversation, Chris and Dominic discuss trust, wills, and estate planning. They clarify the differences between a trust and a will, with a trust being more powerful and legally binding. They explain that a trust is a legal document that governs the transfer of assets after death, while a will is a hope or desire for how assets will be distributed. They also discuss the importance of having an executor and the role they play in carrying out the wishes outlined in the trust. They touch on the probate process and how a trust can help avoid it. They also mention the need for a medical power of attorney and how it can be included in a trust. Overall, the conversation provides an introduction to the basics of trust, wills, and estate planning. The conversation discusses different types of trusts, including revocable and irrevocable trusts, as well as special needs trusts and waterfall trusts. It emphasizes that the majority of people will have a revocable trust, which allows them to make changes to the trust during their lifetime.
🔔 Subscribe for More Content:
📌 Connect With Us:
The Fi Guys
WebsiteMonzon Wealth
Facebook
Instagram
Twitter
LinkedIn
📧 Contact Us:
For FI Friday Feedback questions, business inquiries, or collaboration opportunities, please email us at: [email protected]
💬 Leave a Comment:
We love hearing from our viewers! Share your thoughts, questions, or suggestions in the comments section below. We'll do our best to respond to each one.
⏰ Timecodes ⏰
00:00 Introduction and Overview
03:16 The Importance of Trusts and Wills
13:11 Avoiding the Probate Process
23:14 Understanding Different Types of Trusts
28:30 The Role of Special Needs Trusts and Waterfall Trusts
35:15 Using LLCs for Real Estate and Liability Protection
44:31 Avoiding Probate with Trusts
56:54 Updating and Funding Your Trust
01:00:46 The Nuances of Titling Assets in the Trust
01:06:17 Seeking Professional Help for Complex Situations
01:09:30 Resources for Creating a Trust
#estateplanning #financialplanning #death
~~~~~~~
Disclaimer: The FI Guys is a podcast dedicated to providing general information and insights on a wide range of wealth-related topics. The views and opinions expressed in this podcast are those of the hosts and guests and do not constitute personalized financial advice.
The content provided in this podcast is for educational and informational purposes only. It should not be considered a substitute for professional financial advice. Your financial situation and goals are unique, and the information provided here may not be applicable or suitable to your specific circumstances.
We, the hosts and guests on The Fi Guys are not acting as your financial advisors. We are not aware of your individual financial situation, risk tolerance, or investment objectives. Any decisions or actions you take based on the information provided in this podcast are your own and made at your own risk.
This video podcast is sponsored by Monzon Wealth. The content in this podcast is for informational purposes only and should not be considered financial advice. We do not endorse specific products or services. Past performance doesn't guarantee future results. The opinions expressed are those of the hosts and guests, not the podcast sponsors.
It is crucial to consult with a qualified financial advisor or professional who can provide advice tailored to your specific needs before making any financial decisions, investments, or taking any other actions. If you are seeking specified help, you can reach out to Chris at https://www.monzonwealth.com/
View all episodes
By The FI GuysIn this conversation, Chris and Dominic discuss trust, wills, and estate planning. They clarify the differences between a trust and a will, with a trust being more powerful and legally binding. They explain that a trust is a legal document that governs the transfer of assets after death, while a will is a hope or desire for how assets will be distributed. They also discuss the importance of having an executor and the role they play in carrying out the wishes outlined in the trust. They touch on the probate process and how a trust can help avoid it. They also mention the need for a medical power of attorney and how it can be included in a trust. Overall, the conversation provides an introduction to the basics of trust, wills, and estate planning. The conversation discusses different types of trusts, including revocable and irrevocable trusts, as well as special needs trusts and waterfall trusts. It emphasizes that the majority of people will have a revocable trust, which allows them to make changes to the trust during their lifetime.
🔔 Subscribe for More Content:
📌 Connect With Us:
The Fi Guys
WebsiteMonzon Wealth
Facebook
Instagram
Twitter
LinkedIn
📧 Contact Us:
For FI Friday Feedback questions, business inquiries, or collaboration opportunities, please email us at: [email protected]
💬 Leave a Comment:
We love hearing from our viewers! Share your thoughts, questions, or suggestions in the comments section below. We'll do our best to respond to each one.
⏰ Timecodes ⏰
00:00 Introduction and Overview
03:16 The Importance of Trusts and Wills
13:11 Avoiding the Probate Process
23:14 Understanding Different Types of Trusts
28:30 The Role of Special Needs Trusts and Waterfall Trusts
35:15 Using LLCs for Real Estate and Liability Protection
44:31 Avoiding Probate with Trusts
56:54 Updating and Funding Your Trust
01:00:46 The Nuances of Titling Assets in the Trust
01:06:17 Seeking Professional Help for Complex Situations
01:09:30 Resources for Creating a Trust
#estateplanning #financialplanning #death
~~~~~~~
Disclaimer: The FI Guys is a podcast dedicated to providing general information and insights on a wide range of wealth-related topics. The views and opinions expressed in this podcast are those of the hosts and guests and do not constitute personalized financial advice.
The content provided in this podcast is for educational and informational purposes only. It should not be considered a substitute for professional financial advice. Your financial situation and goals are unique, and the information provided here may not be applicable or suitable to your specific circumstances.
We, the hosts and guests on The Fi Guys are not acting as your financial advisors. We are not aware of your individual financial situation, risk tolerance, or investment objectives. Any decisions or actions you take based on the information provided in this podcast are your own and made at your own risk.
This video podcast is sponsored by Monzon Wealth. The content in this podcast is for informational purposes only and should not be considered financial advice. We do not endorse specific products or services. Past performance doesn't guarantee future results. The opinions expressed are those of the hosts and guests, not the podcast sponsors.
It is crucial to consult with a qualified financial advisor or professional who can provide advice tailored to your specific needs before making any financial decisions, investments, or taking any other actions. If you are seeking specified help, you can reach out to Chris at https://www.monzonwealth.com/