022: Estate Organizing 101 with Professional Estate Organizer Meg Connell
Release Date: 12/18/2018
177: Inside the Heated Padres Inheritance Feud: What It Teaches Us About Sound Estate Planning
Absolute Trust Talk
In this all-new episode of Absolute Trust Talk, Kirsten Howe and her associates, Jessica Colbert and Ariana Flynn, delve into the complex estate battle surrounding the late San Diego Padres owner, Peter Seidler. The MLB team finds itself at the center of a legal dispute as Seidler's wife, Sheel, contends with his brothers over control of the franchise. With allegations of breached trust, fraud, and self-dealing, the case highlights the intricacies of estate planning for high-net-worth individuals and the potential pitfalls of ambiguous or informal documentation. While largely speculation,...
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176: Behind the Headlines: Gene Hackman's Estate Plan and What We Can Learn
Absolute Trust Talk
In this episode of Absolute Trust Talk, Kirsten Howe, managing attorney at Absolute Trust Counsel, and associate attorney Jessica Colbert examine the estate of beloved actor Gene Hackman. They meticulously analyze the available court records from Santa Fe County, New Mexico, and contrast them with California's probate procedures. The attorneys skillfully debunk sensationalized headlines about Hackman's will, explaining the mechanics of pour-over wills and why media claims about his children being "cut out" are potentially misleading. While much of the discussion is speculation, they provide...
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175: The Valuation Puzzle: What Your Assets Are Really Worth: Part 2
Absolute Trust Talk
In this episode of Absolute Trust Talk, host Kirsten Howe continues her valuation discussion with expert Alex Spaete from Bridge Forensic CPAs, exploring the intricacies of asset valuation. The discussion focuses on how privately held assets are valued, particularly examining discount factors applied to LLC interests based on control limitations and marketability constraints. Alex explains how family dynamics influence valuations, especially when implicit control exists despite limited ownership percentages. The conversation covers valuation approaches for unusual assets like promissory...
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174: Part 1: The Valuation Puzzle: What Your Assets Are Really Worth
Absolute Trust Talk
In this insightful episode of Absolute Trust Talk, host Kirsten Howe welcomes Alex Spaete, a valuation expert and partner with Bridge Forensic CPAs. In part one of their discussion, Kirsten and Alex explore the complex world of asset valuation, particularly focusing on closely held businesses and real estate holding partnerships. Alex explains why valuing private entities requires specialized expertise beyond what's needed for bank accounts or publicly traded securities. The discussion clarifies the critical distinction between owning a percentage of a business entity versus owning the...
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173: Stop Family Feuds: Expert Tips for Probate Real Estate Sales
Absolute Trust Talk
In this episode of Absolute Trust Talk, host Kirsten Howe welcomes real estate expert Nathan Jines from Jines Real Estate Group, Keller Williams, to discuss the complexities of selling real estate in a probate or trust administration. When a homeowner passes away, managing the sale of their property presents unique challenges, from family dynamics to market positioning. Nathan shares firsthand insights on navigating these transactions while ensuring a smooth process for grieving heirs. Key takeaways include the importance of professional guidance, how family relationships impact...
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171: IRS Audits Uncovered: What Triggers Them and How to Prepare
Absolute Trust Talk
Few things are as nerve-wracking as receiving an IRS audit notice—but how do audits really work, and what can you do to protect yourself? In this episode of Absolute Trust Talk, Kirsten Howe sits down with Anthony Kim, a former IRS Chief Counsel Attorney with 26+ years of experience, to reveal the truth behind IRS audits. Tony, who has litigated complex tax cases for the U.S. Treasury Department and represented Fortune 500 companies and high-net-worth individuals at Ernst & Young, shares insider knowledge on what triggers audits, the IRS selection process, and how to avoid common red...
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172: IRS Audits Uncovered Part 2: Protests and Appeals Explained
Absolute Trust Talk
Intro Summary] In this follow-up episode of Absolute Trust Talk, host Kirsten Howe welcomes back tax law expert Tony Kim to continue their deep dive into IRS audits and appeals. With 26 years of experience working for the IRS, Tony provides invaluable insights into what happens after an audit determination is made. He explains the role of a protest letter, how appeals officers function as mediators, and why IRS litigation can be risky for taxpayers. Throughout the episode, Tony emphasizes the importance of organization, professionalism, and strategic decision-making when dealing with the...
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170: How to Secure Your Estate: Insights from O.J. Simpson’s Latest Legal Drama:
Absolute Trust Talk
In this episode of Absolute Trust Talk, hosts Kirsten Howe and Jessica Colbert delve into the latest twist in O.J. Simpson’s long-running estate saga. The estate’s executor has taken an unexpected step by filing a lawsuit against one of Simpson’s heirs, claiming that a key Las Vegas property was secretly transferred out of the estate’s control. As they speculate on the case, the hosts examine the potential motives behind this action—such as the strategic use of an LLC and homestead exemptions—and the significant implications for addressing Simpson’s mounting debts, including...
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169: Understanding Probate Part 3: How to Get Your Will Admitted to Probate
Absolute Trust Talk
In this episode of Absolute Trust Talk, host Kirsten Howe and associate attorney Jessica Colbert explore the critical steps in getting a will admitted to probate. They explain why lodging an original, properly executed will with the county superior court is essential, and how witness testimony can authenticate the document. They also examine the pitfalls of relying on a photocopy—or finding out too late that the original has been lost or destroyed. Finally, they underscore the importance of keeping your estate documents organized to avoid future probate headaches. If you’re preparing...
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168: Understanding Probate Part 2: What Exactly Is a Will?
Absolute Trust Talk
In this episode of Absolute Trust Talk, host Kirsten Howe and associate attorney Jessica Colbert continue their deep dive into probate fundamentals by focusing on wills. They clarify what makes a will legally valid, why a handwritten (or “wet ink”) signature is still required, and how witnesses play a key role in safeguarding the document’s authenticity. They also explore the differences between a holographic will and the more formal, witnessed variety. This insightful conversation offers a clearer view of one of the most essential components of the probate process. ...
info_outlineWhen a family is grieving the loss of a loved one or an older couple is ready to move on to the next chapter in their lives by downsizing their lot, it can be overwhelming. Where do you start when you have a whole lifetime of stuff?
Professional estate organizer Meg Connell joins Absolute Trust Talk host Kirsten Howe in the studio for an all-new episode to discuss the estate organizing process. With over 20 years of organizing experience, eight years of experience at a Fortune 500 consulting firm, and a degree in interior design and architecture, Meg, along with her team at TheOrganizedOne, brings unique qualifications to the estate distribution process. In this episode, Meg shares what it is that an estate organizer does, the steps that her team goes through, and how she determines what distribution process might be necessary for one family versus another. Meg also discusses how she works with other professionals and outside resources to help fully manage the tangible property items of an estate.
Top Takeaways Episode #022:
1. Plan ahead! Don’t leave your family with a mess.
2. It’s only stuff.
Time-stamped Show Notes:
3:07 – What is an estate organizer?
9:40 – Is there a demand for an estate organizer when the children or heirs are living far away?
13:26 – What is the process an estate organizer goes through when the occupant has passed?
17:40 – Meg describes how an estate organizer bills for the work done.
18:29 – Kirsten and Meg discuss how to determine whether an estate sale is necessary and what the alternatives are.
24:43 – Where do you start when you walk into a home, and it’s packed to the gills with stuff or a hoarding situation?
29:40 – Meg shares some of the most interesting things she has found in a home.
34:45 – Why it’s important to have a plan for personal property
40:01 – How long does an estate organization project take?
Episode #022 Freebie:
Getting estate affairs in order is no easy task, regardless of whether the person is still alive or not. Absolute Trust Talk guest and estate organizing professional Meg Connell is sharing a resource guide exclusively for listeners. This resource guide lists places that can help you with your estate planning and estate organizing – even your estate clean outs. If you don’t know who to talk to or how to get started, this tool is for you and your family. Click here to download your copy now!
Resources/Tools/Links Mentioned in This Episode:
The White Elephant Sale – Oakland Museum