Whether you live in California or elsewhere, understanding how a trust works can protect your assets, prevent costly probate, and ensure your wishes are honored.
From successor trustees to buy-sell agreements for business owners, Jason and Alex share real-life stories — some tragic, some uplifting — that illustrate why planning ahead is critical.
💼 Work with us:
Visit https://FinancialDetox.com to learn more about how we can help you create or update your trust, design a succession plan for your business, and manage your investments and taxes.
👍 Like, Subscribe, and Share this video if you found it helpful — and leave your questions in the comments below.
#FinancialDetox #EstatePlanning #CaliforniaTrust #Probate #SuccessorTrustee #WillVsTrust #BusinessSuccession #FinancialPlanning
More on Jason Labrum https://www.linkedin.com/in/jasonlabrum/
and Alex Klingensmith https://www.linkedin.com/in/alex-klingensmith-94986b7/
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Disclosure
The Financial Detox podcast is provided by Intelligence Driven Advisers, LLC ("IDA"), an SEC registered Investment Adviser; however, such registration does not imply a certain level of skill or training. Any references to SEC registration are not an endorsement or indication of approval by the SEC.
The information presented in this podcast is intended for general informational purposes only and should not be construed as specific tax, legal or investment advice. Participants are strongly encouraged to consult with their personal advisers regarding their specific financial and tax situation. Investing involves risk and there is always the potential for loss. Past performance is not necessarily indicative of future results.
Information provided reflects IDA’s views as of a particular time. Such views along with tax laws and regulations are subject to change at any point and IDA shall not be obligated to provide notice of any change.
IDA makes no representations or warranties, express or implied, regarding the accuracy, completeness, or reliability of the information presented in this podcast. The firm disclaims any liability for errors or omissions in the information or for any actions taken in reliance on the information provided herein.
Effective 2024, certain 529 plan assets may be eligible for rollover to a Roth IRA for the beneficiary, subject to IRS requirements and limitations. Specific rules apply regarding account age, contribution history, and annual/lifetime limits. Not all 529 account owners or beneficiaries will qualify. Please consult a tax professional to determine eligibility and implications based on your personal situation.
For additional details, see IRS guidance: https://www.irs.gov/newsroom/irs-provides-guidance-on-rollovers-from-529-plans-to-roth-iras
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