loader from loading.io

002: Financial Planning: The Pieces & The Big Picture

Absolute Trust Talk

Release Date: 04/17/2018

160: Celebrity Probate Case Files: O.J. Simpson show art 160: Celebrity Probate Case Files: O.J. Simpson

Absolute Trust Talk

In this special Absolute Trust Talk episode, Kirsten Howe and associate attorney Jessica Colbert step into the captivating world of celebrity estates, taking a closer look at the probate of O.J. Simpson. Unlike traditional probates, where assets are distributed to heirs, O.J.'s estate paints a very different picture—one dominated by overwhelming debts, including a $117 million judgment. From the auctioning of memorabilia to an intriguing home equity dispute, this episode uncovers the complexities faced by executors in balancing creditors' claims and legal obligations. Whether you're a...

info_outline
159: Trustees' Checklist: Essential Notices You Can't Afford to Miss show art 159: Trustees' Checklist: Essential Notices You Can't Afford to Miss

Absolute Trust Talk

Trustees, are you confident you’ve completed all your legal responsibilities? This final, crucial question is one every trustee should ask—but the answer is rarely simple. In this episode of Absolute Trust Talk, host Kirsten Howe and associate attorney Jessica Colbert delve into the often-overlooked legal notices trustees are required to send before making final distributions. They discuss the critical 120-day notice to trust beneficiaries and heirs, informing them of their rights to contest the trust. They also cover essential notifications to the Department of Health Care Services and...

info_outline
158: Avoiding Trustee Liability: Critical Steps Before Distributing Assets show art 158: Avoiding Trustee Liability: Critical Steps Before Distributing Assets

Absolute Trust Talk

Being named a trustee is a significant responsibility that demands careful attention, time, and effort—and missing critical steps can lead to complex legal consequences. In this episode of Absolute Trust Talk, host Kirsten Howe and associate attorney Jessica Colbert delve into real-life cases where trustees overlooked essential duties. They discuss three crucial questions every trustee must ask before making final distributions:   1.     Have I done everything necessary concerning income taxes? 2.     Is there a supplemental property tax...

info_outline
157: Avoiding Probate Hassles: Understanding California's 2025 Law Change show art 157: Avoiding Probate Hassles: Understanding California's 2025 Law Change

Absolute Trust Talk

A significant shift in California probate law is on the horizon, promising to make estate transfers more accessible for many homeowners. In this episode of Absolute Trust Talk, host Kirsten Howe and associate attorney Jessica Colbert delve into a game-changing legislation effective April 1, 2025. This new law allows for a simplified transfer of primary residences valued up to $750,000 to heirs—without the need for probate or a formal estate plan. They discuss how this expansion of the small estate affidavit and petition procedures can ease the burden on families, making property...

info_outline
156: Probate Alternatives: Real Estate Affidavits and Succession Petitions Explained show art 156: Probate Alternatives: Real Estate Affidavits and Succession Petitions Explained

Absolute Trust Talk

In the third episode of their probate alternatives series on Absolute Trust Talk, host Kirsten Howe and associate attorney Jessica Colbert delve into two streamlined legal procedures that help families avoid the costly and time-consuming probate process when transferring small real estate estates in California. They explain an affidavit procedure for properties valued under $61,500 and a petition for determining succession to property for estates under $184,500. The discussion covers the requirements for each method, including waiting periods, the role of a probate referee, and when each...

info_outline
155: Spousal Property Petitions: An Easier Alternative to Probate show art 155: Spousal Property Petitions: An Easier Alternative to Probate

Absolute Trust Talk

In this episode of Absolute Trust Talk, Kirsten Howe and associate attorney Jessica Colbert delve into the spousal property petition, a vital tool that offers a faster and more cost-effective way for surviving spouses to claim assets from a deceased spouse's estate. They break down the legal nuances, sharing practical examples of how this process works and how it can sometimes be used even after both spouses have passed away. With real-world scenarios and expert advice, this episode sheds light on probate alternatives that can ease the estate administration process for families. Whether...

info_outline
154: Unlocking Assets Without Probate: The Benefits of Using a Small Estate Affidavit show art 154: Unlocking Assets Without Probate: The Benefits of Using a Small Estate Affidavit

Absolute Trust Talk

Navigating the probate process can feel overwhelming, so what if there was a way to avoid it entirely? In this episode of Absolute Trust Talk, associate attorney Jessica Colbert and managing attorney Kirsten Howe introduce the small estate affidavit—an often overlooked yet highly effective tool for bypassing probate when certain conditions are met. Together, they break down what it takes to qualify for this process, explain how it works to transfer personal property without court involvement and point out some important details and potential challenges. Don’t miss this insightful...

info_outline
153: AB Trusts After 2013: What You Need to Do Now show art 153: AB Trusts After 2013: What You Need to Do Now

Absolute Trust Talk

Welcome back to Absolute Trust Talk! In this exciting episode, associate attorney Jessica Colbert steps into the spotlight for the first time, accompanied by managing attorney Kirsten Howe. Together, they continue the series AB Trusts: Do You Have One? Do You Need One? This episode uncovers the surprising reason many couples have AB trusts without realizing it, and what steps you should take if you find yourself in this situation. You’ll also learn why it might be time to reconsider an AB trust, especially if you are the surviving spouse and want to make changes. Don’t miss out on this...

info_outline
152: The Truth About AB Trusts: Will Your Wishes Be Followed? show art 152: The Truth About AB Trusts: Will Your Wishes Be Followed?

Absolute Trust Talk

Welcome back to Absolute Trust Talk with Kirsten Howe and associate attorney Jessica Colbert! In this second episode of our AB Trust series, we dive into a vital question: Will your wishes truly be honored? While AB Trusts are a common estate planning tool for couples, they have potential challenges. One significant issue is when the deceased spouse's wishes are unintentionally—or even deliberately—overlooked or altered. Tune in as we explore how and why this happens and, more importantly, what steps you can take to ensure that your estate plan works exactly as intended.   ...

info_outline
151: Is an AB Trust Right for You? Essential Insights for Married Couples show art 151: Is an AB Trust Right for You? Essential Insights for Married Couples

Absolute Trust Talk

Married couples, is your AB trust still serving your needs, or has it outstayed its welcome? In this episode of Absolute Trust Talk, Kirsten Howe and associate attorney Jessica Colbert take a closer look at AB trusts, a once-standard estate planning tool. They discuss when an AB trust makes sense and when it might just add unnecessary complexity and cost. Tune in as they explain the key benefits of asset control after death, while also considering the downsides, such as tax filing requirements and maintenance expenses. Whether you're revisiting an existing trust or planning for the future,...

info_outline
 
More Episodes

In this episode of “Absolute Trust Talk,” Kirsten talks to Geoff Zimmerman, Certified Financial Planner, Senior Advisor, and Chief Compliance Officer for Mosaic Financial Partners, Inc. Geoff is one of the San Francisco Bay Area’s most seasoned practitioners and concentrates on assisting both working and retired individuals and couples at the executive level prepare for major life transitions.

 

During their discussion, Geoff reveals his relatable anecdotes that describe the importance of why the individual pieces of one's finances should be integrated into a master plan. He shares real-life examples, observations and insights from his specialized life transition focus providing listeners with actionable tips and tools to help them understand how each element when properly coordinated works together to avoid adverse interactions.

 

Big Three From Episode # 002:

  1. Individual planning parts might seem good, but how do they all work together?
  2. Life transitions have SEVERAL moving parts, find an advisor that will ask the right questions and who will ask A LOT of questions
  3. Look at the BIG picture

 

Time stamped show notes:

2:45 – Thanksgiving dinner anecdote paints picture on the integration of financial planning

4:49 – Kirsten asks Geoff to highlight examples of financial planning pieces that need to be considered in context of overall financial plan

5:10– Geoff talks real life example of setting up 529 plans

5:50 – Big picture, Geoff recommends asking these four questions when considering a 529

8:00 – Did you know that the 529 plan distributions may count as income for the student under certain conditions?

8:45 – Geoff discusses what moving parts need to be considered when a client is changing jobs

10:00 – When there’s a job transition there are benefit changes, retirement plan changes, accelerated expiration dates on stock options, moves to another state – tax implications

11:00 – Geoff mentions interesting life insurance observation that speaks to his life transition expertise

11:40 – Executive compensation, what restrictions are you up against when you leave a company?

13:40 – Geoff reveals his musical analogy for financial planning

16:50 – Geoff discusses and gives access to special tools just for listeners

21:25 – How estate planning affects the big picture

25:00 – How the new tax laws affect charitable gifts

26:55 – Geoff breaks down above the bar and below the bar deductions

30:05 – Geoff breaks down the different types of compensation professionals get and how that affects the big financial plan picture

37:25 – The one thing people can do to help improve financial life

 

Episode # 002 Freebie:

If you’re a busy, smart, successful person who needs help defining your goals, finding out the why behind your what, and the balance in your life, Geoff is giving us exclusive access to two of the worksheets he uses with his own clients. The Wheel of Life and Financial Satisfaction are intuitive worksheets to help gain clarity and pinpoint the areas in life that you feel confident in and those that need more of a prioritized focus moving forward. Click here to get your copy!

 

Resources/Tools/Links mentioned in this episode:

Mosaic Financial Partners, Inc.

East Bay Regional Parks Foundation

East Bay Regional Parks Estate Planning Seminars