Second Half of Life Podcast

The Asset Protection Trust

August 05, 2020 Steinbacher, Goodall & Yurchak Season 1 Episode 13
Second Half of Life Podcast
The Asset Protection Trust
Chapters
Second Half of Life Podcast
The Asset Protection Trust
Aug 05, 2020 Season 1 Episode 13
Steinbacher, Goodall & Yurchak

If you're at or near retirement, or even if you still have a few handfuls of years to go, and you've built up even just a modest nest egg in preparation for your golden years, this is a podcast you'll want to listen to.

Perhaps you've completed basic estate planning documents like a Will and Power of Attorney (and if you haven't, we can help you with that!). But do you also have, or have you considered a trust to protect your assets against things like creditors after you pass or the cost of long-term care while you're alive? Statistically speaking, one in five people will need long-term care in their lifetime, the cost of which isn't cheap (nearly $11K per month in PA in 2020).

Attorney Landon Hodges and Long-Term Care Planner Kristin Daugherty give this comprehensive presentation on the asset protection trust and go over its purpose, how it is funded and administered. Believe it or not, trusts are and can be used by "normal," everyday people, and not just those with a certain level of wealth. Landon and Kristin discuss the need for trust and what it protects you from, how this trust differs from other types of trusts, how it protects assets, what taxes have to be taken into consideration when establishing the trust, and more.

This is an audio recording of a virtual seminar that was conducted on June 25, 2020. To view a video of the presentation, complete with PowerPoint slides, visit https://www.youtube.com/watch?v=wZmvtbxBlvc

Show Notes

If you're at or near retirement, or even if you still have a few handfuls of years to go, and you've built up even just a modest nest egg in preparation for your golden years, this is a podcast you'll want to listen to.

Perhaps you've completed basic estate planning documents like a Will and Power of Attorney (and if you haven't, we can help you with that!). But do you also have, or have you considered a trust to protect your assets against things like creditors after you pass or the cost of long-term care while you're alive? Statistically speaking, one in five people will need long-term care in their lifetime, the cost of which isn't cheap (nearly $11K per month in PA in 2020).

Attorney Landon Hodges and Long-Term Care Planner Kristin Daugherty give this comprehensive presentation on the asset protection trust and go over its purpose, how it is funded and administered. Believe it or not, trusts are and can be used by "normal," everyday people, and not just those with a certain level of wealth. Landon and Kristin discuss the need for trust and what it protects you from, how this trust differs from other types of trusts, how it protects assets, what taxes have to be taken into consideration when establishing the trust, and more.

This is an audio recording of a virtual seminar that was conducted on June 25, 2020. To view a video of the presentation, complete with PowerPoint slides, visit https://www.youtube.com/watch?v=wZmvtbxBlvc