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. 

Gary Quackenbush, GQ Law, explains . . . 

When you have a living trust, you need to put things in it. How do you put your house in trust? How do you put your car in trust? How do you put your retirement account in trust?

In this episode Marty Schneider, the Retirement Professor, asks GQ to explain how to put different types of property in your trust.

Mom and Dad don't want to talk about Estate Planning, Death, or Disability? Of course not, but they really need to. In this episode of the Word on Wealth Radio show, GQ gives some of his best advice on how to talk to your parents about their estate, their Will, and their Trust. It really comes down to having them trust you and feel comfortable talking about a very personal subject, money. 

On their weekly radio show together, "The Word on Wealth", The Retirement Professor and GQ discuss estate planning. In this episode, the retirement Prof. puts GQ on the spot and has them answer specific questions regarding estate planning, wills, and trusts for the radio audience. 

No one wants to talk about estate planning, not even our parents. Let's face it, estate planning deals with death and disability and who wants to talk about that? In this episode GQ discusses some of the best ways to talk to parents about getting their own estate plan in order.

GQ discusses the function and benefits of a Special Needs Trust. The Special Needs Beneficiary can have a SNT and enjoy life enhancement activities such as travel with a companion, and purchase items like custom medical assistance devices. 

GQ discusses the function, advantages, and disadvantages of Power of Attorney forms. 

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.