loader from loading.io

052: Estate and Financial Planning with Life Insurance

Absolute Trust Talk

Release Date: 12/09/2020

065: Diablo Valley Foundation for the Aging: A Valuable Community Resource show art 065: Diablo Valley Foundation for the Aging: A Valuable Community Resource

Absolute Trust Talk

In today’s episode of Absolute Trust Talk, Kirsten sits down with Jody Iorns, Executive Director of the Diablo Valley Foundation for the Aging (DVFA). DVFA is a nonprofit that has been providing services to seniors in Contra Costa County since 1975. Kirsten and Jody dive into the organization’s history and break down all the benefits and support provided to seniors and their families to maintain quality of life. Where you’re local to the area or not, this is an episode you don’t want to miss.

info_outline
064: Trust Failures: Don’t Let This Happen to You show art 064: Trust Failures: Don’t Let This Happen to You

Absolute Trust Talk

In a new episode of Absolute Trust Talk, Kirsten sits down with fellow Absolute Trust Counsel attorney Madison Gunn. As a fellow expert, Madison joins Kirsten to discuss some of the most common trust administration failures and what you need to do to avoid these issues with your own estate plan. No matter what stage of the trust administration journey you’re in, you’ll want to listen to this podcast and protect the future of your legacy and your beneficiaries.

info_outline
063: Aging in Place: It Takes a Village show art 063: Aging in Place: It Takes a Village

Absolute Trust Talk

In a new episode of Absolute Trust Talk, Kirsten sits down with board-elected president Larry Toy of Lamorinda Village. Lamorinda is a 501(c) (3) non-profit developed as a community-based network of people ages 55 and older that offers support and connections to help older adults stay connected and thriving while aging in place. Larry and Kirsten dive into the programs and services that the village offers as well as how people can join and get involved.

info_outline
062: Hiring Home Caregivers: Know the Law show art 062: Hiring Home Caregivers: Know the Law

Absolute Trust Talk

In a new episode of Absolute Trust Talk, Kirsten sits down with Jon Babione of Ferber Law. He practices in a broad range of employment matters, including discrimination, harassment, wrongful termination, and wage and hour claims, in the state and federal courts and the office of the Labor Commissioner. Jon and Kirsten discuss the requirements involved, and Jon provides some best practices to follow when hiring a caregiver to avoid any legal issues.

info_outline
061: Keys to a Successful Transfer of Wealth show art 061: Keys to a Successful Transfer of Wealth

Absolute Trust Talk

In this Absolute Trust Talk episode, Kirsten sits down with Richard Del Monte of the Del Monte Group to discuss the underlying reasons why wealth transitions so often fail. They also look at the tools and processes he recommends for families who want to avoid that fate. With more than 35 years of experience, Richard excels in guiding clients through challenging life transitions and finding ways to make seemingly out-of-reach financial goals become a reality.

info_outline
060: Navigating the World of Senior Living Communities show art 060: Navigating the World of Senior Living Communities

Absolute Trust Talk

In a new episode of Absolute Trust Talk Live, Kirsten sits down with placement expert Juliane Bigelow, founder of CareQuest, a local placement agency helping families in Alameda and Contra Costa counties. Listen in to hear a thorough discussion on all the options available, what kind of care is available, general costs, and more. No matter where you are in the planning or decision process, this episode will highlight all the factors you should consider.

info_outline
059: Resolving Family Conflict Through Elder Mediation show art 059: Resolving Family Conflict Through Elder Mediation

Absolute Trust Talk

In a new episode of Absolute Trust Talk, Kirsten sits down with Katharina Dress, MA. A mediator and facilitator who specializes in helping families understand each other’s viewpoints, reach an agreement, and ultimately make the best decisions about care and planning for aging loved ones and their families. Listen in to learn more about the issues Katharina sees among family members, what causes tension, and some of the approaches she uses to resolve conflict successfully.

info_outline
058: The Importance of Guardianship in Your Estate Plan show art 058: The Importance of Guardianship in Your Estate Plan

Absolute Trust Talk

In a new episode of Absolute Trust Talk Live, Kirsten discusses the different types of guardianship in California, the process of guardianship, factors to consider when choosing a guardian, and more. Naming a guarding for your child(ren) and the work that goes along with it is largely misunderstood. Tune in to get the facts and find the right next steps for including guardianship in your estate plan.

info_outline
057: Estate Tax Returns: Why You Might Want to File Anyway show art 057: Estate Tax Returns: Why You Might Want to File Anyway

Absolute Trust Talk

In a new episode of Absolute Trust Talk Live, Kirsten sits down with CPA Margaret Schopp. Margaret’s firm, Schopp & Co., focuses on trust and estate tax returns, including Form 706 for (portability). Listen in as Kirsten and Margaret break down the estate tax return process, discuss how to calculate it, and review the significant benefits as well as some common mistakes to avoid. Even if you don’t meet the current estate tax exemption, you might want to file anyway.

info_outline
056: 5 Mistakes to Avoid When Moving Senior Parents  show art 056: 5 Mistakes to Avoid When Moving Senior Parents

Absolute Trust Talk

In a new episode of Absolute Trust Talk Live, we are thrilled to welcome Seniors Real Estate Specialist Dayna Wilson of Keller Williams. Dayna and her team have over a decade of experience providing comprehensive senior-friendly transition services, handling virtually every facet of the process. Today, she dives into what that process looks like, why and how to start planning now, tips on communicating with parents, and strategies for a successful move.

info_outline
 
More Episodes

When it comes to life insurance, most of us think of it as a death benefit when someone dies too soon. However, when used strategically, it can do so much more. In estate and retirement planning, it can be used as a complementary financial tool to help you meet specific goals or help secure financial protection.

In a new episode of Absolute Trust Talk LIVE, Kirsten welcomes MassMutual Northern California Financial Planner, JP McDermott, MBA, ChFC, CLTC. With over 20 years of experience, JP is an expert Financial Planner helping clients plan for a comfortable retirement while leaving a legacy for their families. As we dive into this topic of estate planning, financial planning, and life insurance, we will discuss topics like how to pay estate taxes with life insurance, the value of life insurance in blended families, business, and how the election results may impact our planning. No matter where you are in the estate or financial planning process, this is an episode that everyone should listen to.

Big Three from Episode #052:

  1. Buy life insurance as soon as you can. You’ll never be as young as you are now.
  2. The right amount of life insurance depends on what you’re trying to accomplish in life.
  3. Life insurance helps estate taxes, blended families, businesses, charitable giving, even families with special needs persons.

Time-stamped Show Notes:

3:51 – We may see some changes to our federal estate and gift tax laws – even our income tax laws with a new administration. This is what listeners need to know.

5:42 – How can someone use life insurance to limit or the impact of estate taxes?

8:40 – How do irrevocable life insurance trusts help solve estate taxes?

11:29 – What is the importance of life insurance in blended families?

15:10 – Here are a few reasons why a business should own life insurance

17:15 – Life insurance is another great way to help with charitable giving. Here’s how.

19:15 – When is a good time to buy life insurance?

20:00 – How much life insurance is right for a person?

21:28 – Why is term insurance so much cheaper than whole life insurance or permanent?

23:53 – Is it possible to use life insurance to cover a debt you don’t want to leave to a spouse or loved one?

Resources/Tools Mentioned in Today’s Episode:

LifeHappens.org

[Ad] Wondering how life insurance can play a part in your legacy planning? With our extensive knowledge in California Estate Law, Absolute Trust Counsel is here to help you explore all the options and build a plan that meets all of your goals. Schedule a free discovery call, and let’s discuss your specific estate planning needs today.