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...
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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...
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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...
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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...
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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...
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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. ...
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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,...
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150: Third-Party Trustees: A Smart Choice for Your Estate Plan?
Absolute Trust Talk
In this episode of Absolute Trust Talk, Kirsten Howe and associate attorney Jessica Colbert continue their in-depth discussion on selecting a successor trustee, with a focus on third-party options. They explore key considerations when choosing a licensed professional fiduciary, breaking down the advantages and potential drawbacks of this option. Additionally, they provide insights into other alternatives, such as corporate trustees. Whether you're making this decision for the first time or revisiting your estate plan, this episode offers practical advice to help you choose the best trustee...
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149: Choosing a Child as Your Successor Trustee: Key Factors to Consider
Absolute Trust Talk
Are you considering naming a child as your successor trustee? In this episode of Absolute Trust Talk, host Kirsten Howe and associate attorney Jessica Colbert explore the pros and cons of selecting a child for this crucial role. They break down key factors, including whether to name one child or multiple children as co-trustees, and the potential challenges that can arise, from sibling dynamics to administrative complexities. Tune in to gain valuable insights and ensure you make an informed decision about your trust’s future. Time-stamped Show Notes: 0:00 Introduction 1:45...
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148: How to Choose the Right Successor Trustee for Your Trust
Absolute Trust Talk
Are you prepared to name a successor trustee in your estate plan? Don’t worry if you’re unsure—this episode of Absolute Trust Talk will guide you through the process. We’ll break down the most important traits to look for in a successor trustee, such as trustworthiness, reliability, and the ability to seek professional advice when needed. Plus, we’ll share common pitfalls to avoid so you can make the best choice for your family’s future. Time-stamped Show Notes: 0:00 Introduction 0:50 What is a Successor Trustee, and why is naming one essential for your...
info_outlineIn this episode of Absolute Trust Talk, Kirsten welcomes Walnut Creek Financial Planner Ora Citron into the studio. For Ora, financial planning is a way to make a difference for individuals in our community, directly and meaningfully, by taking responsibility for helping clients create a path to the future based on their personal goals.
During her discussion with Kirsten, Ora shares with listeners what financial planning really is, and hint, it’s not all about the money. Ora highlights that for a majority of her clients, financial planning makes a huge difference by relieving stress and creating clarity. Financial planners can bring new and different resources to the table. Ora and Kirsten also discuss the biggest misconceptions in financial planning, and Ora weighs in on complex and often misunderstood topics like social security and long-term care.
Later, Ora also shares that a large part of her focus, and a subspecialty of her firm, is working with women in transition. Whether it’s retirement, divorce, or widowhood, it’s important to educate women, relieving stress and creating clarity in very emotionally difficult times.
Big Three From Episode #06:
- Financial Planners bring new ideas to the table, things you have never even heard about.
- It’s not solely about the money
- Don’t leave your future to guesswork!
Time-stamped Show Notes:
2:36 – The Basics: What do financial planners do?
3:45 – What difference does financial planning make for a client?
4:40 – Retirement isn’t the only goal that a financial planner can help someone achieve
5:39 – Medicare, people know about it, but they don’t know these facts
6:35 – Why can’t someone just do it on his or her own? There is Google, right?
8:40 – Ora discusses the one piece of financial planning that is most critical to a financial planner’s success with clients
15:33 – Ora highlights a subspecialty of her practice – working with women in transition
16:44 – What’s makes working with women clientele different?
18:20 – Social Security planning is something that should not be dismissed. Here’s why…
26:14 – Ora discusses her approach to long-term care in financial planning
29:04 – Isn’t long-term care planning just for the wealthy?
30:52– Ora highlights the biggest misconceptions that she see’s with clients and in general
Episode #006 Freebie: Risk Tolerance Assessment
You’ve found a good financial planner, someone, you’re comfortable working with, but that’s only half the battle. You want to feel comfortable with what they are doing for you and your money. A crucial piece of successful financial planning is risk analysis because it defines the risk you’re willing to take with your money. Walnut Creek financial planner Ora Citron swears by one tool that she uses with her clients, Riskalyze. Riskalyze is an online questionnaire with practical questions to assess how comfortable you are with taking risks. It makes you think about what you would realistically do, how content you are with that and what adjustments need to be made in your financial plan, so you meet all of your goals. Ora is offering Absolute Trust Talk listeners exclusive access to this questionnaire so that you too can see where your risk tolerance lies.
Resources/Tools/Links mentioned in this episode:
The Undoing Project by Michael Lewis