A lot of people have Trust issues... we're not talking about psychological trust issues, we're talking about issues they have with a legal Trust.
One of the Trust issues people have is simply not having any Trust at all. That’s an issue because Trusts keep estates out of probate!
There are many legal tools available that can provide specific benefits in specific situations. Many of the legal tools that are used by the wealthiest people have been established to grant the wealthiest people exceptions to rules. You don’t have to be extremely rich to use and benefit from the same legal tools, but on the other hand, just because they are available doesn’t mean you should or have to use them.
The more you know about the legal tools available, how they work, the benefits they can provide, and the problems they can create the better decisions you can make to grow and protect your wealth.
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Our son Jesse, Is getting married this month, Jesse will be the first of our 8 children to get married. We are very happy for him and his soon to be wife, Alyssa.
We thought it would be interesting and useful to have Jesse join us in the studio for this episode of Wealth Talks to talk about premarital financial considerations, house hunting and wedding plans among other things.
Resources:
To buy life insurance or get a life insurance review, contact McFie Insurance. mailto: Team@McFieInsurance.com or 702-660-7000.
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Typical financial planning has failed, leaving many dependent on social security. 401Ks, simple IRAs and other Tax Qualified Plans, are the “golden goose” that can kill you financially if you don’t know and understand the “terms and conditions” of each.
Although it seems like “free money” when your employer is contributing some sort of match, will that “free money” actually cost you in the long run?
In today’s episode, Tom and John talk about some of the consequences that could ensue in the future with these typical systems. Surprises can be nice, but tax implications you didn’t expect to have, aren’t.
Don’t get caught by surprise, understand what’s ahead. Listen Now.