My Comments: A family member is thankfully near the end of a 12–15-month process to successfully complete an inheritance. The person who died had some assets in a revocable trust but many were not. The effort to complete what is often a long probate process has been complicated by an IRA owned by the deceased …
Continue reading Four Reasons Retirees Need a (Revocable) Trust
My Comments: Over the years I’ve had many opportunities to help people plan how they want their money to both serve them during retirement and where it should go, or be used when or if, they become goofy and ultimately die. This is a little long, but a good read for any of you wondering …
Continue reading Revocable trust vs. will: A guide to estate planning
My Comments: I've spent almost 50 years working with clients as a financial planner. For many, the revocable trust is often a critical ingredient to make life easier for the people involved. The typical problem was few had more than a limited understanding of what I was talking about. My goal was to encourage them …
Continue reading Revocable trust vs. will: A guide to estate planning
My Comments: I can attest to the fact that as your life plays out, there is an increasing realization that your end is coming. At the same time, there is sometimes a serious reluctance to come to terms with, and do something about, the various details of life that will inevitably end. When I was …
Continue reading Why it’s important for every adult to have a will
My Comments: First, a disclaimer saying that I’m NOT an attorney. Do NOT rely on what you read here without first talking with your attorney. Having said that, you will find this useful if you’ve ever wanted to speak from the grave or at least make sure that if you become goofy, your wishes will …
First, I AM NOT AN ATTORNEY. DO NOT RELY ON ME FOR LEGAL ADVICE! However, I have been a financial planner for a long time and do know something about the relevance of trusts and how they might be used in a financial planning context. I decided to talk about this today ( and on …
My Comments: For the record, I am NOT an attorney. However, questions always surface about trusts. What are they exactly, how do they work, what kinds are there, which ones are appropriate for me, etc. These words from Jim Probasco go a long way toward a better understanding about the most common form of trust …
My Comments: First, a DISCLAIMER: I am NOT an attorney and it would be best if no one accuses me of practicing law without a license. There’s an ongoing issue about this in Florida right now. But I do get asked questions about trusts and it helps to have a little basic knowledge. I also …
My Comments: This comes courtesy of a local friend and attorney who includes me among those with whom he shares insights. I'm unsure who should get credit for writing the actual text. Over these many years I've had many clients with trusts of one kind or another and clients who needed trusts but didn't have …
Continue reading Seven Trust-Based Asset Protections Strategies for Clients
My Comments: Recently, two clients have asked me about asset protection and whether they should start thinking about a trust. The answer is maybe. First, I have to remind everyone that I am not an attorney, and cannot advise people on legal matters. However, I can share basic knowledge that I’ve picked up over the …
Helping Define Your Financial Future 