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

Absolute Trust Talk

Release Date: 05/13/2021

072: Spotlight on Cancer Support Community show art 072: Spotlight on Cancer Support Community

Absolute Trust Talk

In this episode, Kirsten welcomes a special guest, Margaret Stauffer, Chief Mission Officer for Cancer Support Community of the local Walnut Creek chapter. We hope you will tune in to hear Kirsten and Margaret dive into the amazing programs provided by this organization, including how to access these services and how you, as a community member, can get involved too. We LOVE sharing information about good people and great organizations changing lives, and this episode is no exception! 

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071: For the Caregivers: Support, Compassion, and Resources Just a Click Away show art 071: For the Caregivers: Support, Compassion, and Resources Just a Click Away

Absolute Trust Talk

Listen in to this new episode of Absolute Trust Talk, as Elaine Sanchez, author of “Letters from Madelyn, Chronicles of a Caregiver,” and a co-founder of CaregiverHelp.com, discusses the most common difficulties caregivers come across, as well as what resources are available for those dealing with these situations. Whether you’re a caregiver, know someone that is, or are planning for the future, this is an episode you don’t want to miss.

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070 Trustee Do’s and Don’ts Part Two show art 070 Trustee Do’s and Don’ts Part Two

Absolute Trust Talk

Being named a trustee is an honor, but it comes with a lot of responsibility. Legal work has to be done, and if you’re not familiar, the process can seem more like a burden. The tasks on hand aren’t necessarily rocket science, but there are things that we see clients tend to miss.

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069: What We Can (and Can’t) Do with Bank Accounts After Death show art 069: What We Can (and Can’t) Do with Bank Accounts After Death

Absolute Trust Talk

In this episode of Absolute Trust Talk, Kirsten sits down with fellow Absolute Trust Counsel attorney Madison Gunn to discuss: What happens to bank accounts after death, the different types of accounts, who can access the account, how to protect them from being frozen, why they should be included in your trust.

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068: What You Need to Know Before Choosing a Medicare Plan show art 068: What You Need to Know Before Choosing a Medicare Plan

Absolute Trust Talk

In a new episode of Absolute Trust Talk, Kirsten sits down with Emily Gangaware of The Medicare Coach. Over the last four years, Emily has been changing how people make their Medicare decisions by navigating the rules, insurance company confusion and clarifying what decisions need to be made to protect healthcare rights and retirement savings. No matter what state you live in or how close to retirement you are, Emily has some Medicare revelations you’ll want to hear.

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067: Estate Planning Challenges with Real Estate show art 067: Estate Planning Challenges with Real Estate

Absolute Trust Talk

In a new episode of Absolute Trust Talk, Kirsten welcomes back fellow Absolute Trust Counsel attorney Madison Gunn. Kirsten and Madison dive into this top asset that can cause a world of headaches for beneficiaries and discuss some solutions and workarounds to successfully including residence and other properties in an estate plan. We hope you will listen in and share this with your friends and family no matter where they live.

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066: End-of-Life Care Decisions: Balancing Technology with Compassion show art 066: End-of-Life Care Decisions: Balancing Technology with Compassion

Absolute Trust Talk

In a new Absolute Trust Talk Live episode, Kirsten sits down with emergency physician Dr. Alan Molk. Harnessing his medical background and experience as a decision-maker for his mother during her journey with Alzheimer’s, Dr. Molk offers valuable insights into how to have the right conversations with loved ones to balance end-of-life decision-making with comfort, dignity, and respect.

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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.

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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.

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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.

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More Episodes

At Absolute Trust Counsel, in nearly 100% of the trust administrations, we’re hired to execute, there is a least one failure that could have been avoided. Some of these failures are small and simple to fix. Unfortunately, the majority are much more difficult to rectify. In this context, difficult also means expensive. As a trust grantor, it is vital to review your estate regularly, especially if there are significant life changes. Talk to your estate planning attorney and keep your documents up to date to ensure your wishes and promises to your beneficiaries are kept.

In a new episode of Absolute Trust Talk, Kirsten sits down with fellow Absolute Trust Counsel attorney Madison Gunn. Madison joined the firm in 2019, bringing extensive legal background and experience, starting as an intern and working her way up to attorney at law. She has a passion for helping seniors, individuals, and their families prepare and protect legacy over the last few years in all aspects of estate planning and trust administration. 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.

Big Three from Episode #064:

  1. When it comes to real estate and your trust, make sure you know how everything is titled.
  2. If you’re going to make promises to potential beneficiaries and inheritance, be sure to talk to your estate planning attorney and get things in writing.
  3. Keep all your documents up to date, and be sure to dot all your I’s and cross all your T’s to make sure your estate plan truly follows your wishes.

Time-stamped Show Notes:

4:09 – Madison and Kirsten jump right into discussing the most common failure they see, which has to do with funding a trust.

4:56 – Madison shares a couple of things that can cause real estate to fall out of a trust. 

10:04 – This is what happens to the trust when real estate falls out – hint, it can be frustrating and expensive!

11:57 – Like the failure of funding, Kirsten and Madison discuss another common failure – a lack of beneficiary designations.

16:26 – Another common failure has to do with your current living arrangements.

18:21 – Kirsten shares a scenario where this failure comes into play.

23:52 – Should you put real estate that’s located out of state in your trust?

25:10 – Can you name your trust as the beneficiary of your IRA?

26:24 – Should your trust own safety deposit boxes?

[Ad] Planning for the future is vital to ensure that you and your family are protected and prepared throughout your later years of life and beyond. Please don’t wait until it’s too late. Schedule a free discovery call today, and we’ll review your case to make sure all your needs are met.