010: Thinking Outside the Family – Special Needs Trusts & Professional Fiduciaries
Release Date: 06/19/2018
162: Untangling Community vs. Separate Property Issues in Estate Planning (Part 2)
Absolute Trust Talk
In this episode of Absolute Trust Talk, host Kirsten Howe welcomes back accomplished estate planning attorney and litigation expert Ruth Kohler Burke for part two of their deep dive into community vs. separate property in estate planning. Together, they unravel the complexities of property characterization and highlight how proper planning can save you from expensive, stressful situations. From intestacy horror stories to blended family challenges, Ruth shares real-world examples and valuable insights gained from her 25+ years of experience, including representing Fortune 500 companies....
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161: What’s Yours, Mine, and Ours? Untangling Community vs. Separate Property in Estate Planning
Absolute Trust Talk
In this episode of Absolute Trust Talk, host Kirsten Howe is joined by the accomplished Ruth Koller Burke, Partner at Koller Herlihy LLP, whose 25+ years of experience span estate planning, trust administration, and probate litigation. Ruth’s dual expertise as both an estate planner and litigator—gained through years of representing Fortune 500 companies and managing high-stakes family dynamics—brings an invaluable perspective to this discussion. Together, Kirsten and Ruth dive deep into the complexities of community and separate property in estate planning. From clarifying...
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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...
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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...
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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...
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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...
info_outlineIn this episode of Absolute Trust Talk, Kirsten welcomes Herb Thomas, founder and principal fiduciary of Herb Thomas and Associates. Herb has a big passion for people, which is shown through his extensive experience serving families throughout California with special needs trusts, public benefits counseling and advocacy, trust/estate administration, and conservatorships. He is also a board member of the Behavioral Intervention Association, which is a nonprofit dedicated to providing intervention services to children diagnosed with autism and their families.
During his conversation with Kirsten, Herb touches on what a professional fiduciary is and what makes the job right for someone who has “experienced a little bit of life.” He addresses why it’s essential for a family to look outside immediate members to a resource such as a professional fiduciary. He also provides actionable guidelines and tips for planning around the proper execution of a Special Needs Trust – everything from organization to the rest of the team involved.
Herb later weighs in on the biggest responsibilities expected of a special needs trustee and how to get started with a licensed professional fiduciary.
Big Three From Episode #010:
- Choose a trustee wisely – they are the main ingredient of a successful trust.
- Have a financial plan set up before you start.
- Choose the rest of the team wisely.
Time-stamped Show Notes
2:25 – What does it mean to be a licensed professional fiduciary?
4:22 – A professional fiduciary can serve in these various roles.
9:30 – What challenges are faced when administering a special needs trust?
12:41 – Here is why special needs trusts are important – the benefits, and why it’s needed.
15:08 – Here is why you should consider using a professional fiduciary.
24:50 – What is the process to hire a professional fiduciary? How do we find you?
25:47 – Herb discusses who he works with on the trust administration, other than just the beneficiary.
29:40 – Herb highlights the most significant responsibilities of a Special Needs Trustee – consider this when you are deciding whom to choose for your trustee.
Episode #010 Freebie: Special Needs Trust Tools – “Trustee Can Purchase” + What to Ask When Hiring a Professional Fiduciary
Assets are important to everyone, whether you have the resources or not. In the case of a special needs trust, the job of a licensed professional fiduciary or trustee is to help protect those assets for as long as possible and to use them solely for the benefit of the beneficiary. It’s vital, going into this process, to have goals to help you achieve what needs to be done for the recipient. To accompany this episode of Absolute Trust Talk, guest Herb Thomas put together a couple of tools to help you get started. “Trustee Can Purchase” is a guide to help the trustee understand what can be purchased for the benefit of the beneficiary. In addition, Herb provided a list of interview questions to ask when you are hiring a professional fiduciary. Above all else, you want to make sure the beneficiary is taken care of adequately and that their needs are met for the rest of their life.
Download these free tools here!
Resources/Tools/Links Mentioned In This Episode:
PFAC – https://pfac-pro.org
Professional Fiduciary Bureau of California – http://fiduciary.ca.gov
HerbThomas.com