018: How Invested Are You? Portfolio Protection You Need to Know About Brokers and Advisors
Release Date: 10/16/2018
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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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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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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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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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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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. ...
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In this episode of Absolute Trust Talk, Kirsten Howe and Associate Attorney Ariana Flynn shine a light on the often misunderstood world of probate. They discuss why estate planners typically seek to avoid probate, the situations that make it unavoidable, and the key role of the personal representative—whether executor or administrator—in guiding the process. By exploring how the court appoints someone to oversee an estate, they underscore the importance of having a well-crafted plan in place. If you’ve ever wondered about the nuts and bolts of probate or questioned whether your own...
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In this episode of Absolute Trust Talk, Kirsten Howe and Jessica Colbert discuss the ongoing Los Angeles fires and offer practical advice on how to help victims without falling prey to scams. From identifying legitimate charities to safely navigating crowdfunding platforms, they outline actionable steps to ensure your generosity has a real impact. The episode also highlights essential disaster preparedness tips, including safeguarding your pets during emergencies. We’re thinking of everyone and hope you all stay vigilant, give wisely, and can help make a meaningful difference in times of...
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If you’ve been following the news lately, chances are you’ve heard of Luigi Mangione, the man at the center of recent headlines for allegedly shooting UnitedHealthcare CEO Brian Thompson. While the criminal case has drawn widespread attention, what caught our interest is a surprising detail about Mangione's personal life: he’s reportedly listed as a beneficiary in his wealthy grandmother’s estate. Even more intriguing, the will allegedly includes a precatory clause—or “wish language”—suggesting that beneficiaries charged with a felony could forfeit their inheritance. ...
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Welcome back to Absolute Trust Talk for Part 2 of our exciting deep dive into estate litigation with our associate attorney and former litigator, Ariana Flynn! In this episode, we’re exploring the steps you can take to prevent challenges to your estate plan after you’re gone. Ariana shares valuable insights from her experience, including how writing explanatory letters to explain tough decisions and how receiving a neuropsych evaluation can also make a difference. We also discuss how working closely with your estate planner can help protect your wishes, with tips on handling co-trustees...
info_outlineIn this episode of Absolute Trust Talk, Kirsten welcomes attorney Bob Gonser to the show. Bob’s practice focuses on matters involving disputes between investors and their financial advisors. Bob typically works on a contingent fee basis and has successfully handled hundreds of cases for his clients whose investement accounts have been mismanaged resulting in the loss of irreplaceable assets.
Kirsten and Bob discuss many topics surrounding his specialty, beginning with who is most likely to be victimized by financial advisors who do not act in the best interest of their clients.. Bob then shares the different types of situations he sees his clients in and how they decided they were in over their heads and needed legal help. Later Bob weighs in on the do’s and don’t’s when looking to hire an advisor or broker and what you should regularly do to stay on top of your portfolio.
Top Take Aways from Episode #018:
- Remain aware of your situation
- Remain involved
- Don’t be afraid to ask questions
- Keep your children involved or (if you’re the kids) make sure you stay involved in your parent’s finances so you know how to put all the pieces together
Time-stamped Show Notes:
3:02 – Bob shares why senior citizens are the most common group of people he works with in regard to the loss of money in investments
4:20 – Kirsten asks Bob to share how clients come to the ultimate conclusion that they are in enough trouble and they need legal help
5:17 – Why senior citizens should not have volatile investments
8:44 – Bob discusses the different types of situations he sees and the types of advisors responsible for taking advantage of investors
11:08 – What “suitable” means regarding an industry standard for advisor-client relationships
15:00 – Bob defines the difference between the fiduciary and suitable standards in terms of responsibility of advisors to their clients
17:03 – Kirsten asks Bob to share what else he sees advisors doing wrong in his practice
19:56 – This is the most important thing you can do when looking to hire an advisor or broker
24:27 – Bob highlights what an investor should stay on top of when they finally hire an advisor or broker
Episode #018 Freebie:
It’s great to have a financial professional to turn to when it comes to making investment decisions, but it’s also important to maintain involvement in your portfolio activity. Absolute Trust Talk guest and attorney Bob Gonser is sharing exclusive access to his portfolio maintenance tool called the Investment Portfolio Check-Up. This questionnaire is designed to help you see any red flags or things you might not recognize in your portfolio. To help ensure the safety of your financial investments we urge you to listen in to this episode and then download the Investment Portfolio Check-Up tool here.
Resources/Tools/Links Mentioned in This Episode:
Finra.org – Broker Check