Planning for the time when you'll no longer be around is a difficult topic for many of us to discuss. After all, who wants to be reminded of their own mortality? But, regardless of the discomfort, it's a topic that needs to be addressed. Avoiding it can only bring confusion and hostility among your heirs, and the possibility that your hard-earned assets won't be passed on as you would have intended.

When the administration of an estate plan involves the inheritance of a house, as many do, the potential for problems grows even greater. While most situations go smoothly, just as many don't, and the decisive factor between the two outcomes almost always boils down to how much forethought goes into the succession plan — who gets what when you're no longer here?

Because of the emotions almost always attached to a home, whether it's a primary residence or a vacation cabin — as well as the potential financial implications — deciding who will inherit your home and how it will be inherited is tricky territory to navigate. No two families share the same relationships among their members. When an asset as substantial as a property is involved, emotions can overtake logic, leading to tensions that can last for a long time. All the right "what ifs?" must be asked — regardless of how uncomfortable these questions might make everyone feel.

In our newest episode of Absolute Trust Talk, Kirsten Howe and associate attorney Madison Gunn will closely examine the many factors that should be considered when you're passing real estate on to your heirs. In their collective years of practice, they've encountered a wide variety of scenarios, and they'll be leveraging this experience to provide a unique perspective on this very important topic. In the process, they'll unearth a number of questions, many of which you may not have considered.

In this episode, we're going to discuss:

• Why careful planning is the key to the smooth administration of an estate plan
• How changes in the California tax code have had a profound impact on inheriting the family home
• The potential challenges a family home might carry when it comes time to pass it on to an heir (or heirs)
• Several potential scenarios where inheriting the family home can range from relatively simple, to downright complex
• How open, honest communication can prevent resentment and hostilities among heirs

And more.

If you're like most homeowners, the family home is by far your most valuable asset, so it's vital to ensure your property gets passed on as you see fit. This episode will give you a roadmap of the process, the factors that should be considered, the questions that must be asked, and how to facilitate good, honest communication among your heirs. Let's get started.

Take the Next Step in Your Estate Planning Journey

If this episode resonated with you, we'd love to help you with your own estate planning needs in California. Schedule a complimentary discovery call with our team at Absolute Trust Counsel. During this no-obligation conversation, we'll:

1. Learn about your unique situation and goals
2. Answer questions about our services
3. Determine if we're the right fit to work together

Visit https://absolutetrustcounsel.com/scheduling/ or call 925-943-2740 to schedule your free discovery call today.

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When planning for the ongoing needs of a special needs child or relative, there's quite an array of considerations that have to be made — some foreseen, some not. It's about far more than just paperwork — no two families are alike regarding their financial situation, the vision they hold for the future of their special needs child, or even the unique care requirements of that child.

These families do, however, tend to share one common purpose: that the parents are doing their best to replace themselves in the future when they're no longer around. After all, despite our best efforts, none of us live forever.

If this is a scenario that's in your future — or perhaps the future of someone you know — you probably already appreciate how easy it is to be overwhelmed by the process. And if there wasn't already enough complexity to deal with in terms of insurance, benefits, caregiving, education, etc., special needs care planning also carries an additional challenge you won't find when planning for the care of an elderly parent or relative — it can often be for the long term, as "special needs" isn't necessarily synonymous with a shorter life span.

To bring special needs care planning into sharper focus, we are thrilled to be speaking with Ann Koerner, CEO, and Founder of National Care Advisors, in a new episode of Absolute Trust Talk. Since 2008, they've provided consulting services for special needs families, attorneys, financial planners, and trustees who support individuals with complex care needs. As a result of her work with many national corporations, Ann possesses extensive business knowledge of case management, utilization review, third-party payers, workers' compensation, private insurance companies, and government resources. In addition to her special needs expertise, Ann holds a degree in nursing from Russell Sage College. She began her nursing practice as a public health nurse in New York and later with the City of Columbus Health Department.

Ann will be talking about the challenges that lie ahead for family members, including parents, siblings, and other relatives, when planning for the future of someone with special care needs. There's a lot to consider, from financial planning to living accommodations and day-to-day care.

In this episode, we're going to discuss:

• The most common scenarios that prompt a family to seek specialized outside help with special needs care planning
• How parents' initial assumptions when planning are often unrealistic
• The role that siblings usually prefer to play in special needs care planning
• Why failing to seek qualified outside help to save money often has the opposite effect
• The various ways that National Care Advisors can help families navigate the Special Needs Care Planning process

And more.

Whether special needs care planning is in your future, or you're already mid-process and experiencing more than a bit of frustration, this episode will put this often-complex planning in a clearer light. It will also raise questions you probably haven't even considered, so let's get started!

At Absolute Trust Counsel, we used to create this podcast just as a podcast. We would sit in a room with our headsets, microphones, and just record. Then when the pandemic hit, things changed, and we started live streaming so we could interact with our clients and audiences in a new and impactful way.

As we think about how the pandemic changed our way of life, it's easy to relate to downloading and learning new apps and buying new devices just so we could carry on and do the "normal" things that we always used to, right? It wasn't long ago that many of us saw Zoom and other communication platforms as novelties that weren't likely to assume an important position in our lives. Similarly, while many of us are familiar with things like Google Maps, far fewer have ever had to explore all that it has to offer fully.

And despite its tangible, everyday benefits, technology isn't that intuitive, so there can be a learning curve that may seem downright daunting. We need help, and we need instruction, especially for older adults who want to learn to leverage technology to make life easier and open new possibilities and experiences.

"Where were we supposed to learn this information? We must recognize, that one, not only is it not your fault if you don't understand or have this information, but two, it's our mission at Senior Planet to make sure you're informed, especially when it comes to going online to protect your own personal information online. So again, this is where we're honing in on providing that safe space for participants to learn a lot and have fun."

In our newest episode of Absolute Trust Talk, we have the privilege of introducing you to Ryan Kawamoto, Regional Program Director for Older Adult Technology Services at Senior Planet, an AARP affiliate. Together Ryan and Kirsten will be telling you all about Senior Planet, a valuable resource that's just a phone call (or a mouse click) away and will help pave the way for you to master today's most useful technology. Concerned about the cost? Don't be. This multi-faceted resource is at your disposal, free of charge. Concerned that you must be an AARP member to participate? No worries there, either. An AARP membership isn't required.

In this episode, we're going to discuss:

• Several ways that technology can improve our lives
• How COVID has made technology more important than ever
• How Senior Planet's programming makes learning technology easier
• How mastering technology can keep us safer while online
• The various ways these valuable learning resources can be accessed (at no charge!)

And more.

Whether you've been curious about emerging technology but have difficulties trying to use it or would just like a refresher on some of your favorite apps or devices, this episode is for you.

Estate planning can be difficult for people to face, and unfortunately, it doesn’t get any easier when guardianship comes up. Many young families struggle with the decision-making around this – no one wants to think about what will happen to their children if they are no longer around. But as much as parents try to avoid it, it is one of the most critical decisions parents can make. We often find that clients are surprised by how complex guardianship can be. It is not quite as simple as jotting down Aunt Jane’s name and moving on with your day. There are many things to consider, and you want to get it right so everyone involved can transition and maintain their lifestyle as comfortably as possible. 

In this episode of Absolute Trust Talk, Kirsten and Madison team up to discuss: 

• What guardianship is
• The guardianship processes
• The different situations when guardianship is necessary 
• The different types of guardianship
• How to select the right guardian

And more!

There are many reasons to put off selecting a guardian, but we urge you to take a minute to think about your children. If your family ever finds themselves in the difficult situation of needing a guardian, will your kids and family have the comfort of knowing what you want for them? Or will you leave it up to the court to decide for you? We hope you will listen to this episode and share it with your friends and family because guardianship is a topic every family should discuss. 

Do you own an investment property? Are you thinking about selling it but are overwhelmed by the tax implications? Well, then, we’ve got good news and a great podcast episode for you that might just provide a solution that you may not have known was possible. Ever heard of a 1031 Exchange? (Okay, we’ll end the questions and just get to the good stuff!) In short, a 1031 Exchange allows you to swap one real estate investment property for another while deferring capital gains taxes. It sounds great, but 1031 has A LOT of moving parts you need to understand before attempting to use one. For example, an exchange can only be done with “like-kind properties,” the IRS has a lot of rules and limits when it comes to vacation properties, and there are specific time frames that can be challenging. However, we don’t want to scare you because this can be a very valuable tool if used correctly. So, to help get things straight, we’re bringing in an expert.

In this episode of Absolute Trust Talk, we’re thrilled to welcome Certified Exchange Specialist®️, Teresa Fluegel, to the show. Teresa is Executive Vice President at Chicago Deferred Exchange Company in San Ramon, California. She has over 25 years of experience working with attorneys, accountants, commercial real estate professionals, and investors seeking to defer tax using Section 1031. Teresa is a seasoned expert in navigating the intricacies of exchanges based on her involvement in thousands of transactions including: forward-delayed exchanges, reverse exchanges, and build-to-suit exchanges.

In this episode, we’re going to discuss:

• What a 1031 Exchange is
• How to qualify for a 1031
• How exactly a 1031 Exchange works
• What types of properties are included
• Rules and requirements set forth by the IRS

And more.

If you’ve been considering a 1031 Exchange or are curious about how you can benefit, this episode will turn you into a savvy real estate investor in no time – understanding the complex moving parts, requirements, and how to enlist the professional help you need to get a 1031 Exchange done right. Let’s get started!

Imagine leaving the home you've lived in for 30, 40, or even 50 years and downsizing all of your belongings so you can move to a smaller space or assisted living. This can be a very sad and sentimental experience for many people. How do you sort through all of your belongings that you've collected over the years, picking and choosing what stays and what goes? If your parents or other older loved ones are facing this transition, it's important to support them in every way possible.

In this episode of Absolute Trust Talk, Madison Gunn welcomes husband and wife team Art Lotti and Andriana Mendez, owners of Custom Moving and Hauling. Their passion is to consistently provide a custom personalized experience for seniors who are moving, decluttering, and cleaning out as they prepare for a new chapter in their lives. Their process includes talking through client goals, uncovering the challenges, and then working to provide a creative, efficient, and understanding solution through this deeply personal event in life. Having earned their Senior Move Manager Certification status, Custom Moving & Hauling has prioritized downsizing moves to support their mission: Helping you through life's many transitions™.

 Through this discussion, Art and Adriana will cover:

• How to determine what to keep and discard leading up to moving day.
• How to memorialize sentimental items if they cannot be moved.
• What options are available to remove unwanted items from the home.
• How to handle moving day with your parents and loved ones when it arrives.

And more.

When faced with this challenging life transition, it can be helpful to involve experts like Art and Andriana not only to manage expectations but also to handle the process's details and intricacies so it can be carried out as seamlessly as possible, with minimal stress for all. We can't wait to have you join us and share this episode with your family and friends.

It goes without saying that trustworthiness is the number one trait you should think about when you choose a trustee for your estate plan.  Is the person going to do the job? Are they going to do the job right? Are they going to put the needs of the trust, estate, and other beneficiaries first? We know it’s a lot to think about, and honestly, there is no correct answer when it comes to choosing your trustee or trustees because every family is different. While it may also seem logical to name your child or children as trustees, this route can also come with its own complexities and concerns. As parents, the last thing you want to do is cause your family stress or unhappiness should you become incapacitated or pass away.

In this episode, Kirsten Howe and Madison Gunn talk about the factors to consider when naming your children as trustees, and some of the other more neutral options to think about, depending on your estate. Some of the points they cover include:

• Why you might want to choose two separate trustees; one if you become incapacitated, and another if you die.
• The personality traits that are important to consider in your trustee selection.
• Why splitting the trustee duties between two children equally may or may not be the right decision.
• When it might be suitable to hire a neutral third party to carry out your trust plans, such as a licensed professional fiduciary or a corporate trustee.

And more.

Carrying out a trust plan after its owner becomes incapacitated or dies is a big responsibility that takes much more time and effort than many realize. It’s important to make sure the person you select will be able to do so fairly, in a timely manner, and with minimal friction alongside your other beneficiaries. Whether you’ve already selected a trustee for your plan or you’re just getting started, this is an episode that every family should listen to. You may want to update your plan after you hear what Kirsten and Madison share.

What would happen to your family if you or another primary income earner suddenly became disabled and couldn’t work for an extended period of time? What if they died and their income disappeared forever? Many families would have a hard time paying the mortgage, the property taxes, tuition, and many other expenses involved in a family’s daily life. And believe it or not, the majority of families don’t have an adequate plan to cover all those expenses.   In this episode, Kirsten Howe speaks with independent insurance specialist Todd Wellnitz about different types of insurance that he refers to as “lifestyle insurance.” He’ll share some general rules and stories to educate us about this critical aspect of financial and estate planning.   Don’t be caught off guard in the case of disability. This podcast will ensure you’re prepared for a loss of income in an unexpected situation.    Todd believes people’s lifestyles are very personal to them, and he wants to make sure that his clients keep that lifestyle protected in case life shows up in those not-so-happy and unexpected ways. Todd recommends using insurance tools such as disability insurance, life insurance, long-term care insurance, and some income annuities as stabilization strategies for his client’s financial future, so they can sleep better at night.   As a fully independent broker, Todd’s company, Wellguard Insurance & Financial, has no obligation to sell any insurance company’s product. This means he doesn’t have a quota to provide a certain number of policies to his clients.    For consumers, Todd’s job is to make his clients look as attractive to the right insurance company as possible so he can get more money for their families from the big insurance companies. Another advantage to Todd’s business is that he can pick and choose from a variety of insurance companies to source the best protection for a particular situation.   Some of the topics covered in this podcast include:  

• The types of insurance that can be used to help generate income if a person becomes disabled
• The amount of lifestyle insurance you’ll need to secure based on your income in order to protect your lifestyle
• Believe it or not. You could be the beneficiary of your own life insurance policy
• How to convert a term life insurance into a permanent policy without reapplying based on health
• Using income annuities to help pay for long-term care
• Why it’s beneficial to work with an independent insurance agent
• What you can do if you can’t secure insurance coverage based on your health

And more.   If you haven’t thought much about how you’d protect your family’s lifestyle if the primary earner were to become disabled, and you want to learn how to do it, this is the episode for you. Todd introduces our audience to fascinating and valuable solutions for people.

Though it might seem like you’ve got everything covered within your trust document, estate planning is not just about what happens after you die. Issues can also arise in the event that you become incapacitated. Over the years we have seen all sorts of problems because not enough attention was paid to incapacity planning. If the current plan you have in place doesn’t make it quick and easy for others to step in and take over on your behalf, delays can cause your own health and well-being to suffer. It can also cause confusion and disagreement among family members leading to more time and money in court. In this episode of Absolute Trust Talk Live, attorneys Kirsten Howe and Madison Gunn sit down to discuss the types of trust failures and challenges that may be experienced from a lack of planning for incapacitation. They will share some important documents and items that you need to include in your estate plan, as well as tips and strategies to make that plan work seamlessly for you and your family if someone else ever has to step in.

Some of the topics covered in this podcast include:

• Why you should be putting ALL of your assets in your trust
• How to work with banks to honor your power of attorney
• The importance of refreshing a power of attorney every ten years
• New legislation that impacts trusts after incapacitation

And more.

Whether you’re in the process of planning your own trust, or serving as trustee or beneficiary for someone else, this episode can help you anticipate unforeseen circumstances and avoid complications if incapacitation occurs.

Approaching the topic of driving with seniors can be one of the most challenging conversations that families face. If a senior has a medical condition, must take medications, or hasn’t driven much in the last few years, it can affect their ability to drive safely. And unfortunately, it’s often up to the family to address these concerns, but it can be difficult to know where to start or what the impairment is.

In this episode of Absolute Trust Talk Live, attorney Madison Gunn talks with Melanie Henry of Driver Cognitive Assessment Center (DCAC) about the services and assessments available to help families make decisions regarding their loved one’s driving skills. The goal of DCAC is to offer seniors fair and accurate evaluations positively and compassionately while working to keep communities safe. They also provide support to families and physicians to help them address driving concerns with their loved ones.

Some of the topics covered in this podcast include:

• How to handle your concerns if you fear your senior family member should no longer be driving
• The types of driving assessments available for these seniors
• How the assessment results are handled and reported

And more.

Melanie’s background includes social welfare, risk assessment, and senior caregiver. She is a licensed driving school instructor and also helps provide medical rides to Tri-Valley Seniors with a local non-profit named the Senior Support Program of the Tri-Valley. We’re excited to have her highlight a topic that many people avoid. If you or someone close to you could benefit from a driving assessment, you’ll want to listen to this podcast to hear more about how you can handle this concern in a loving and understanding way.