ElderTalk podcast Tune In

Attorney-CPA Joe Cordell and co-host Susan Arthur continue their discussion on wills and trusts. They break down the roles you assign to others when you create a will or trust and how conflict can arise when you have one person occupying all three roles.

Joe and Susan talk about the opportunities that trust provides, in having control of the assets and being able to offer beneficiaries a meaningful gift after you die. They break down the ins and outs of revocable and irrevocable trusts, as well as how irrevocable trusts can be tax instruments for the wealthy.

They break down the regulations of how the trust interacts with qualifications for Medicaid, as well as the difference between income versus principal, in terms of funds within the trust. Joe details the provisions of an asset protection trust and recommends what to include in an irrevocable trust and what not to include.

Navigating Wills and Trusts Part 2 [Episode 62]