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070 Trustee Do’s and Don’ts Part Two

Absolute Trust Talk

Release Date: 08/26/2021

092: Is a 1031 Exchange Right for Your Real Estate Sale show art 092: Is a 1031 Exchange Right for Your Real Estate Sale

Absolute Trust Talk

Do you own an investment property? Are you thinking about selling it but are overwhelmed by the tax implications? Well, then, we’ve got good news and a great podcast episode for you that might just provide a solution that you may not have known was possible. Ever heard of a 1031 Exchange? (Okay, we’ll end the questions and just get to the good stuff!) In short, a 1031 Exchange allows you to swap one real estate investment property for another while deferring capital gains taxes. It sounds great, but 1031 has A LOT of moving parts you need to understand before attempting to use one. For...

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091: How to Support Your Parents Through a Downsizing Move show art 091: How to Support Your Parents Through a Downsizing Move

Absolute Trust Talk

Imagine leaving the home you've lived in for 30, 40, or even 50 years and downsizing all of your belongings so you can move to a smaller space or assisted living. This can be a very sad and sentimental experience for many people. How do you sort through all of your belongings that you've collected over the years, picking and choosing what stays and what goes? If your parents or other older loved ones are facing this transition, it's important to support them in every way possible. In this episode of Absolute Trust Talk, Madison Gunn welcomes husband and wife team Art Lotti and Andriana Mendez,...

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090: Choosing a Trustee – How to Get It Right show art 090: Choosing a Trustee – How to Get It Right

Absolute Trust Talk

It goes without saying that trustworthiness is the number one trait you should think about when you choose a trustee for your estate plan.  Is the person going to do the job? Are they going to do the job right? Are they going to put the needs of the trust, estate, and other beneficiaries first? We know it’s a lot to think about, and honestly, there is no correct answer when it comes to choosing your trustee or trustees because every family is different. While it may also seem logical to name your child or children as trustees, this route can also come with its own complexities and...

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089: Why Your Family Might Need Lifestyle Insurance and the Latest Opportunity Benefits show art 089: Why Your Family Might Need Lifestyle Insurance and the Latest Opportunity Benefits

Absolute Trust Talk

What would happen to your family if you or another primary income earner suddenly became disabled and couldn’t work for an extended period of time? What if they died and their income disappeared forever? Many families would have a hard time paying the mortgage, the property taxes, tuition, and many other expenses involved in a family’s daily life. And believe it or not, the majority of families don’t have an adequate plan to cover all those expenses.   In this episode, Kirsten Howe speaks with independent insurance specialist Todd Wellnitz about different types of insurance that he...

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088: Incapacity Failures: Plan Ahead So Your Plan Works for You show art 088: Incapacity Failures: Plan Ahead So Your Plan Works for You

Absolute Trust Talk

Though it might seem like you’ve got everything covered within your trust document, estate planning is not just about what happens after you die. Issues can also arise in the event that you become incapacitated. Over the years we have seen all sorts of problems because not enough attention was paid to incapacity planning. If the current plan you have in place doesn’t make it quick and easy for others to step in and take over on your behalf, delays can cause your own health and well-being to suffer. It can also cause confusion and disagreement among family members leading to more time and...

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087: Driving Assessment for Seniors: Don’t Wait Until It’s Too Late show art 087: Driving Assessment for Seniors: Don’t Wait Until It’s Too Late

Absolute Trust Talk

Approaching the topic of driving with seniors can be one of the most challenging conversations that families face. If a senior has a medical condition, must take medications, or hasn’t driven much in the last few years, it can affect their ability to drive safely. And unfortunately, it’s often up to the family to address these concerns, but it can be difficult to know where to start or what the impairment is. In this episode of Absolute Trust Talk Live, attorney Madison Gunn talks with Melanie Henry of Driver Cognitive Assessment Center (DCAC) about the services and assessments available...

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086: Trust Failures: Don't Let This Happen to You! (Continued!!) show art 086: Trust Failures: Don't Let This Happen to You! (Continued!!)

Absolute Trust Talk

Over the past few years, we’ve seen an influx of trust administration cases. And with nearly every trust and every client, there has unfortunately been some sort of planning failure. Some of them are small, easy fixes, while others are bigger challenges that cost more time and money. The worst part is that they could have been avoided if the right thought process and planning were in place from the start. It’s true there is a lot to think about when it comes to setting up your trust and estate plan, but to truly protect your legacy and beneficiaries, you must think through a variety of...

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085: Estate Planning Changes Late in Life: Is it Real or is it Elder Abuse? show art 085: Estate Planning Changes Late in Life: Is it Real or is it Elder Abuse?

Absolute Trust Talk

Often, when an older adult modifies their estate plan, they are doing it of sound mind because of a change in their wishes. However, there are instances when an older adult makes the change because they are being pressured by someone who is taking advantage of their vulnerability and trust. Unfortunately, this happens more often than not. In the legal world, this is referred to as “undue influence,” which is considered a form of elder abuse. In a new episode of Absolute Trust Talk, host Kirsten Howe is joined by RMO LLP’s founding partner, Scott Rahn. Scott’s firm is a national probate...

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084: Medi-Cal for All show art 084: Medi-Cal for All

Absolute Trust Talk

Did you know that as of July 1, 2022, there will be some significant changes in the eligibility rules for Medi-Cal? Medi-Cal is the California implementation of Medicaid and something that many people depend on. Unfortunately, if you need Medi-Cal help now, these changes won’t be rolled out in time. But if Medi-Cal is something you’re planning on down the road, then these new law changes may help. Many more Californians will qualify for this support to help pay for nursing home care without spending down their assets or doing complicated asset transfer planning. In a new episode of...

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083: Living Better with Parkinson’s Disease show art 083: Living Better with Parkinson’s Disease

Absolute Trust Talk

Picture NBA player Brian Grant, known for his tenacity and fearlessness on the court. After pushing his body through conditioning, training, and contentious games, he learns he has Parkinson’s disease two years into retirement. Naturally, this came as an enormous shock. However, Parkinson’s is the fastest-growing neurological condition in the world. In fact, by 2040, the number of people living with Parkinson’s is set to double. Once Brian learned how to navigate living with this disease, he launched The Brian Grant Foundation (BGF) to “help people become their best, even when it seems...

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More Episodes

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 a few things that we see clients tend to miss.

In a new episode of Absolute Trust Talk Live, Kirsten is joined by fellow Absolute Trust Counsel attorney Madison Gunn for another installment of Trustee Do’s and Don’ts. Kirsten and Madison will be walking through a handful of very serious mistakes that trustees and executors typically make, which can have consequences. These items include:

  • Why surviving spouses still need to complete legal work even though they take over as trustee
  • Official notifications that are often missed
  • New laws that impact real estate inheritance

And more!

Whether you’ve just stepped into your role as trustee or are planning for the future, this is an important episode that everyone should listen to, so find a quiet spot because it’s time to press play.