Comments on: Succession Strategies: Beneficiary, Trust, Will, Or TOD? How To Decide.

By: Theorydude

Theorydude — Tue, 06 Jun 2023 14:28:48 +0000

Simple is always a good goal, and as you say, when younger not necessary. However, it can depend by state. California probate is expensive, so it’s advised out here that when you own a home, get a trust. With kids, we thought it more advisable, and our trust person also setup the power of attorney, health directives, pour over will, etc. We were referred, so it’s worth asking around – only cost $1200.

By: Jason

Jason — Tue, 06 Jun 2023 14:21:14 +0000

I’ve never understood people that cant be bothered to set up these types of end of life processes (it’s happened multiple times in my family). I realize it’s not super fun to talk about but everyone is going to face it so just do it. Even if it is just a beneficiary…..And the earlier you set it up, the further away from death you seem so it shouldn’t be an issue. Yes, you may have to tweak it as life goes on but still…..just be an adult and deal with it so people don’t have to when your gone…..or it gets taken by probate court

By: Chuck Burkett

Chuck Burkett — Tue, 06 Jun 2023 11:21:03 +0000

One of my big concerns is power of attorney should I become incapacitated. Maybe you can do this with specific forms for IRA accounts, but how many people have everything setup.

By: Lilly in the Field

Lilly in the Field — Tue, 06 Jun 2023 06:23:51 +0000

Do you still help with retirement planning???

By: M W

M W — Tue, 06 Jun 2023 04:51:32 +0000

Colors super blown out, and I’m nothing close to an AV aficionado

By: Beatrice S

Beatrice S — Tue, 06 Jun 2023 02:20:42 +0000

Good reminder. Had to change beneficiary. Yup. Things can get complicated.

By: Bruce Smith

Bruce Smith — Tue, 06 Jun 2023 00:54:55 +0000

Thanks Dustin always a good reminder to review those things every couple years.

By: Yg Bodybuilder

Yg Bodybuilder — Mon, 05 Jun 2023 23:32:40 +0000

How bout this, before you die just give loved ones access to the account and have them withdraw the money. Thats how you get around paying taxes.