1517: What is a Family Trust and Should You Set One Up by Jeff Rose of Good Financial Cents

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Investing, Business, Education, Self-improvement

4.4 • 1.3K Ratings

🗓️ 5 May 2021

⏱️ 9 minutes

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Summary

Jeff Rose talks about family trusts and whether or not you should set one up. Episode 1517: What is a Family Trust and Should You Set One Up by Jeff Rose of Good Financial Cents Jeff Rose, CFP® is a Certified Financial Planner™, founder of Good Financial Cents, and author of the personal finance book Soldier of Finance. Jeff is an Iraqi combat veteran and served 9 years in the Army National Guard. His work is regularly featured in Forbes, Business Insider, Inc.com and Entrepreneur. The original post is located here: https://www.goodfinancialcents.com/family-trust-benefits-setting-up-trust/ Stream live TV from over 100 channels that you love, contract free. Go to fubotv.com/optimal for 15% off your first month and a free trial. Please Rate & Review the Show! Visit Me Online at OLDPodcast.com and in The O.L.D. Facebook Group Join the Ol' Family to get your Free Gifts and join our online community: OLDPodcast.com/group Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is Optimal Finance Daily, Episode 1517.
0:04.1	What is a family trust and should you set one up by Jeff Ross of GoodFinancialSense.com.
0:10.1	And I'm your host and personal finance enthusiast, Diana Mariam.
0:14.1	Happy Cinco de Mayo if you're listening in real time.
0:17.2	This is a show where I read to you and to myself, frankly, from some of the best personal
0:21.4	finance blogs on the planet every single day.
0:24.2	We're surrounded by messages of how difficult it can be to make ends meet and build wealth.
0:29.2	So thank you for spending this time with me, where we can empower ourselves to take control of our financial health.
0:35.2	And before we get to it, I wanted to make sure you know that we have a weekly newsletter
0:39.2	sharing tips, tricks, advice, inspirational quotes, and more.
0:42.8	It's a great way to show your support and totally free.
0:45.9	Just enter your email address at oldpodcast.com to join.
0:50.1	But for now, let's get right to it and continue optimizing your life.
0:54.3	What is a family trust and should you set one up by Jeff Ross of GoodFinancialSense.com?
1:04.9	The concept of a family trust, also known as a revocable living trust, isn't very well
1:10.4	understood by many people.
1:12.6	The differences between a trust and a simple will, for instance, are frequently confused.
1:18.0	While it's somewhat more time consuming and therefore more expensive to have a family
1:21.8	trust prepared than a will, there are significant benefits for the trust for many individuals.
1:27.5	I have many clients that feel that they have to set up a trust.
1:31.2	I think many want to avoid probate at all costs.
1:34.8	Please keep in mind that probate is not a four-letter word.
	...

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