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Wills vs. Trusts vs. Title
Manage episode 433730017 series 3558878
Cameron Valadez द्वारा प्रदान की गई सामग्री. एपिसोड, ग्राफिक्स और पॉडकास्ट विवरण सहित सभी पॉडकास्ट सामग्री Cameron Valadez या उनके पॉडकास्ट प्लेटफ़ॉर्म पार्टनर द्वारा सीधे अपलोड और प्रदान की जाती है। यदि आपको लगता है कि कोई आपकी अनुमति के बिना आपके कॉपीराइट किए गए कार्य का उपयोग कर रहा है, तो आप यहां बताई गई प्रक्रिया का पालन कर सकते हैं https://hi.player.fm/legal।
Implementing important estate planning documents is critical to leaving your ideal legacy upon your death.
Among the critical estate planning documents are wills and trusts. Often times, many people confuse the differences between the two, the benefits they can provide, and whether or not they need them at all!
More specifically, I discuss:
- Why getting the appropriate estate planning documents in place is so important
- What is a Will? What can it do?
- What is a Trust? What can it do?
- What is the difference between a Revocable Living Trust and an Irrevocable Trust?
- Common uses for Revocable Living Trusts
- Common uses for Irrevocable Trusts
- What Revocable Living Trusts and Irrevocable Trusts don’t do
- How the titling of assets can work in your estate plan
- The importance of naming beneficiaries
Resources:
- Access Show Notes and Sign Up for the Retired·ish Newsletter HERE
- Free Retirement Jump-Start Analysis
- Ask Cameron A Question!
Key moments are:
00:00 Estate planning: wills, trusts, assets, and advice. 05:09 What does a will do? 08:26 Title of property and beneficiary designations. 10:24 What can a trust do? 14:16 Revocable trusts does not offer tax benefits. 20:20 Irrevocable trusts can have significant tax implications, good or bad. 22:18 The importance of naming beneficiaries and titling assets appropriately. 26:35 Estate planning can save your family money.
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