April 24, 2024 • 16 mins
Todd Lutsky, Cushing & Dolan, stops by to share his expertise on transfering assets in the event that inheritance plans change. Should you add a safety deposit box to your trust? How can I protect my rental property from divorce? What is Schedule A listing?
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Transcript
Episode Transcript
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(00:00):
This is Ask Todd on the FinancialExchange Radio Network. If you have an
existing estate plan or in the marketfor one, Todd Lutsky is here to
answer your questions and help you planfor later life. Ask Todd is presented
by Cushing and Dolan, serving Massachusettsand New England for more than thirty five
years, helping families with the stateand tax planning, Medicaid planning, and
(00:21):
probate law. Visit Cushingdolan dot com. Now here's Todd Lutsky. We are
now joined by Todd Lutsky from CushionDolan and he will be taking any of
your questions in the estate planning realm. If you have questions on gifting,
trust a state, taxes, callour office line at eight eight eight two
(00:42):
zero five two two six' threeagain studio line. My apologies eight to
eight two zero five two two six' three. Todd. How we doing
today? I am never better onyou. I am doing great. It's
a big night for Boston sports.We got the Bruins and the Celtics.
Hopefully they both can come home withwin this evening. First question for you,
(01:02):
Todd, that I will I'll takethe mic on is I was speaking
with a prospective client the other daywho was concerned about his daughter or his
son in law, daughter's new husband, and he was wondering as to how
a trust could provide some protection againstperhaps a divorce in the situation of his
(01:26):
daughter and son in law. Hejust felt that the son in law was,
you know, wasn't the best applein the bunch, and wanted to
know kind of how a trust orstate planning could circumvent some of those issues.
Yeah, these are the kind ofquestions that come up a lot.
And I tell people, you know, even when you've done your estate planning
right. So many of you mightbe listening saying, I've already done all
my estate planning. I don't reallyneed, you know, need to revisit
(01:48):
it. But I think there's reasonsto revisit it, and this may be
one of them. Right, Youmay need to revisit them simply because you
know, it's been ten fifteen yearsand now I've got grandchildren that I did
and have before that I might wantto take care of, or one of
my children, as you say,got married and I'm not too thrilled about
the spouse, or I'm just maybejust concerned overall whether the marriage is actually
(02:12):
going to last. And you wantto make sure that your inheritance that you
or that your assets that you leaveas an inheritance to your family stays in
the family. And these are thingsto think about. It in terms of
either updating your state plan if you'vealready done it, or putting it together
for the first time, this shouldbe on your mind. Can you do
that? Yes. In terms ofleaving assets to children, there's so many
(02:36):
ways to do it through the trust. I would say one of the best
ways to leave assets to children,whether it's because of a divorce or not,
it could be any creditor. Quitefrankly, you don't have to pick
and choose, would be to divideeverything. You know, I want to
treat my kids equally, so Iput it in equal buckets, and then
inside those buckets I have language thatsays, remember the trust is now irrevocable
(03:00):
because no matter what, the donoris dead. So when the donor is
dead, the trust is irrevocable.You could have the kids serve as trustee
who manage and invest their shares builtinto that trust. They can do everything
in terms of buying and selling,but they can't take it. So if
they can't take it, that meansthey can't reach in. So let's say
(03:21):
Billy can't reach into his bucket andtake money out for him or his kids.
In order to do that, theyand I would give them the power.
They the kids, have the powerto appoint an independent trustee, who,
by the way, could also removeand replace if you want them to
have that power. I think youerr on the side of caution and say,
(03:43):
listen, I give my kids thatpower. I want them to have
the flexibility. They can then removeand replace the independent trustee. So they
appoint an independent trustee. Let's sayit's me. I then get to say.
They come in and Billy says,look, I'm married, I need
money to take my kid go tocollege or prep school, or we're taking
a family vacation, or you know, I need to buy a family car.
(04:08):
It's okay. I get to decideyes or no whether that money comes
out, and I have my solediscretion. The reason that's so wonderful is
because I have no reason to sayno. And of course if I said
no all the time, he'd removeme sure and put on another person not
related or subordinate to the beneficiaries andThe wonderful thing about it is when the
(04:30):
divorce comes and the other side wantshalf of what's in this trust, they're
going to say, that's great,but you have to ask Todd. Hmmm.
Oh, I don't love that,you know, because we're going to
say no. But it really goesbeyond asking Todd, because even though that's
a nice power to have, youlook deeper and you say, is it
owned by Billy. No, thismillion dollar bucket, this two million dollar
(04:54):
bucket, whatever it is, isnot owned by Billy. Never was that
never was. Then it's not anasset of the marriage to begin with.
It doesn't matter that I can sayno, it's really not an asset of
the marriage. That's the way youwould look at it. So great ways
of getting it there, and bythe way that ownership transcends generations. So
(05:15):
if in fact you have them diehappily married, then the asset doesn't go
to the spouse, it goes tothe grandkids, and it avoids taxation in
the estate of the kid. Whybecause the kid doesn't own it. So
that's a huge win at the endof the day. And so I think
(05:35):
that is something you should think aboutwhen you're leaving assets to your family.
A lot of great information there.We're talking here with Todd Lutsky from Cushion
Dolan. If you have any questionsin the estate planning realm, whether it
be on how to leave assets toa beneficiary through a trust as Todd was
speaking about, if you were concernedabout estate taxes or gifting, give us
(05:58):
a call at our studio line ateight eighty eight to zero five, two
to two sixty three. Again,that studio line number for any of your
questions for Todd Lutsky is eighty eightto zero five two to two six three.
We're gonna take a break here,but when we come back, your
questions with Todd are up next.Ask Todd with Todd Lutsky every Wednesday at
ten thirty only here on the FinancialExchange Radio Network. You're listening to Ask
(06:25):
Todd with Todd Lutsky on the FinancialExchange Radio Network. All right here now
back with Todd Lutsky, and we'regonna go to the phones. Maureen in
Wilbraham, mass you're on with ToddLutsky. Yes, I wanted to know
what to do with a safety depositbox. I have a trust do I
(06:49):
just put that in schedule A.So when you say on schedule A,
you mean somebody died already. No, well, I just you know that
I I assume a schedule as whereI list everything that I wanted to lead
to different people. Correct, Oh, you mean on your trust there's a
schedule A. Yes. Ah,this is a great question, Maureene,
(07:11):
because people get confused by this.So on our documents we do provide a
schedule A. However, schedule Ais simply for you to tell remind yourself.
It's a quick reference page that saysI'm going to list everything that I
have put in the trust on ScheduleA. Because you list it on schedule
(07:33):
A does not mean that it isin the trust. Okay, that's just
a reference guide as a reminder foryou. So for example, I do
an estate plan for somebody, andwe prepare a new deed, and we
transfer the deed from let's say yourname Maureene into the Maureene family trust.
(07:54):
Now that house is in the trust. Now you can list that house addressed
on Schedule A. Listing it onSchedule A is not what put it in
the trust. The new deed transferringthe house to the name of the trust,
put it in there. Same thingwith like let's say you've got a
bank account or a brokerage account andit was in Maureen's name. Now it's
(08:16):
gonna say, you know, Maureenetrustee of the Maureen Family Trust. If
you're doing a revocable trust, nowthat bank account or that brokerage account is
in the trust. Once you dothat retitling paperwork, then you can list
it on Schedule A as a referenceguide. Now to your point, safety
deposit boxes. I've actually not seena safety deposit box titled to a trust
(08:43):
before. I suppose you could doit. Just check with the bank and
say, if the safety deposit boxis in my name alone, can I
just change the name on the accountto read again Maureene trustee of the Maureene
Family Trust. Now it's it's inthat in the trust, and then you
can list it on Schedule A.But simply listing it on Schedule A alone
(09:07):
is not going to mean that it'sin the trust. If you leave it
in your name, it's a probateasset and it's going to go through the
will. If you put it inthe trust, it's going to avoid probate.
Folks and that's really the easiest wayto avoid probate. Of course,
designated beneficiaries or joint accounts could dothat as well, but I think there's
problems associated with that form of ownershipall the way down the line. So
(09:31):
hope that helps a little bit.But folks, this is really an important
question because I think a lot ofpeople misunderstand Schedule A. But it also
goes towards what our guide is aswe approach the end of the month.
Folks, how to leave assets tobeneficiaries is important, right And this case,
you might have a stray safety depositbox out there and I didn't say
(09:52):
who I want to get this,But it's more than that. All your
assets right through the trust. Youcan direct how they get it. You
got a special needs child, howdo they get it? You know,
I've got new grandchildren that I didn'thave before. I want to change my
designated benefit. I want to changemy trust to leave some to them,
right. I want to as asI was asked earlier by Paul, I
(10:13):
want to protect assets from the nursingor from divorces. The trust can be
designed to do that. Folks,learn how to leave assets to children to
your family trust live on long afteryou die. And if you've done your
planning, this guide will help yougive new ideas for how you might want
to leave it. If you haven'tdone it, then this guide will get
(10:35):
you ready when you go meet thatlawyer eight six six eight four eight five
six nine nine or Legal Exchange Showdot com. You can download it there
again eight six six eight four eightfive six nine nine or Legal Exchange Show
dot com. We're going to goto our next caller, John in Grafton.
You're on with Todd Lutsky. Hi, good morning. Toddie talked about
(11:00):
putting SS in a trust to avoidfuture divorces? Yes, what about putting
real estate in an LLC to avoidfuture divorces? Does that work as well?
Well? Very different creditors we're talkingabout here, So can you do
this? Here's how The quick answeris going to be yes, But let
(11:22):
me let me try to fill insome blanks. Putting it in the LLC
isn't necessarily what protects it from thedivorce. Right, Putting a rental property
in an LLC, which I totallyagree, is the way to go to
protect you from what kind of creditor? The slip, the fall, the
party, people who leave drunk andget get hurt. I mean, these
are the people that you want toprotect from because they're gonna sue. If
(11:46):
it's not in the LLC, they'regonna sue you, John, if you're
the owner, they're gonna sue youpersonally, and they're going to go after
all of your assets, not justwhat's in the LLC, and not just
not just the property where they gothurt. So if you put it in
an LLC, now when that personfalls off the balcony and sues, they
(12:11):
are gonna sue the owner. Wellwho's the owner? The owners now the
LLC. And so if the ownersthe LLC, they're not suing John personally,
and they're not going after John's assets. So there could be a lot
of other assets you have, John, that you would like not to be
exposed. This prevents that and keepumbrella coverage. I'm not telling people to
(12:35):
throw it in an LLC and getrid of their homeowner's insurance or get rid
of their umbrella insurance because remember,the creditor does not want the building.
They want money. So they're likelynow knowing there's less of a deep pocket,
they're gonna go after the insurance company, and the insurance company is going
to have a lawyer and they're gonnafight it out. And that's what you
(12:56):
want because you want to keep theproperty. Now, to your point,
who's the owner of the LLC?The shareholder, Well, that's you.
Well, if you own the stockcertificate in your name, right and you
get divorced, that's still an assetof your marriage, right, So that's
(13:16):
not helpful. I don't know ifyou're asking about your own marriage or the
kids, which I'll get to ina minute, but that's still your asset,
so it would still be subject tothe divorce. Now, I would
want you to avoid probate. Soif you're not the one getting divorced,
transfer the shares to your revocable trust. Then when you die, that trust
owns that LLC, and that trustif it's designed the way I talked about
(13:41):
the trust earlier in the program,when Paul asked, if you design your
trust to be equally to the kidswith that divorce proof language in it that
we talked about, well, thensame rules apply. Right, So the
child gets divorced after you're dead andthey come in and they say, we
(14:01):
want that building, we want thatrental property. You're going to say,
I don't own it. Billy neverowned it, The trust owns it.
It's not a marital asset to beginwith, so the same rules apply.
So yes, putting it in anLLC by itself doesn't protect it from future
divorces. You need to connect allthose dots the way I just took you
through in order to get the protectionyou're looking for. Todd, thanks so
(14:26):
much for the time this week.That concludes our segment with us. Todd,
always a pleasure. This has beenasked Odd on the Financial Exchange Radio
network. Ask Tod with Todd.Lutsky has been presented by Cushing and Dolan,
serving Massachusetts and New England for morethan thirty years, helping families with
the state and tax planning, Medicaidplanning, and probate law. Call eight
(14:46):
hundred and three ninety three four thousandand one or visit Cushingdolan dot com.
The views expressed in this segment aresolely those of Cushing and Dolan Armstrong advisor.
He does not provide any legal ortax advice. Please consult with your
legal or tax advisor on such matters. Cushing and Armstrong do not endorse each
other and are not affiliated. Leavingassets to your beneficiaries is a critical piece
of any estate plan. Cushingian Dolanhas written a new guide that may help
(15:07):
you avoid unnecessary mistakes that can costyou dearly in the long run and ensure
that your assets are protected for generationsto come. An example, the Federalist
date tax exemption has increased by nearlya million dollars from twenty twenty three.
That could lead to a larger inheritancefor your family members. There are several
strategies in this new guide that willhelp you learn how to make the right
decisions about your distributions at the righttime. Cushing and Dolan have been helping
(15:31):
New England families for more than thirtyyears. Let them help you too.
Call eight sixty six eight four eightfive six nine nine and get their brand
new guide called How to Leave Assetsto your Beneficiaries. That number again is
eight sixty six eight four eight fivesix nine nine, or you can request
the guide online by visiting Legal exchangeshow dot com. The proceeding was paid
for in The views expressed are solelythose of Cushing and Dolan. Kushian Dolan
(15:54):
and or Armstrong Advisory may contact youoffering legal or investment services. Chushingan Dolan
in Armstrong Advisory do not endure eachother and are not affiliated
This is Ask Todd on the FinancialExchange Radio Network. If you have an
existing estate plan or in the marketfor one, Todd Lutsky is here to
answer your questions and help you planfor later life. Ask Todd is presented
by Cushing and Dolan, serving Massachusettsand New England for more than thirty five
years, helping families with the stateand tax planning, Medicaid planning, and
(00:21):
probate law. Visit Cushingdolan dot com. Now here's Todd Lutsky. We are
now joined by Todd Lutsky from CushionDolan and he will be taking any of
your questions in the estate planning realm. If you have questions on gifting,
trust a state, taxes, callour office line at eight eight eight two
(00:42):
zero five two two six' threeagain studio line. My apologies eight to
eight two zero five two two six' three. Todd. How we doing
today? I am never better onyou. I am doing great. It's
a big night for Boston sports.We got the Bruins and the Celtics.
Hopefully they both can come home withwin this evening. First question for you,
(01:02):
Todd, that I will I'll takethe mic on is I was speaking
with a prospective client the other daywho was concerned about his daughter or his
son in law, daughter's new husband, and he was wondering as to how
a trust could provide some protection againstperhaps a divorce in the situation of his
(01:26):
daughter and son in law. Hejust felt that the son in law was,
you know, wasn't the best applein the bunch, and wanted to
know kind of how a trust orstate planning could circumvent some of those issues.
Yeah, these are the kind ofquestions that come up a lot.
And I tell people, you know, even when you've done your estate planning
right. So many of you mightbe listening saying, I've already done all
my estate planning. I don't reallyneed, you know, need to revisit
(01:48):
it. But I think there's reasonsto revisit it, and this may be
one of them. Right, Youmay need to revisit them simply because you
know, it's been ten fifteen yearsand now I've got grandchildren that I did
and have before that I might wantto take care of, or one of
my children, as you say,got married and I'm not too thrilled about
the spouse, or I'm just maybejust concerned overall whether the marriage is actually
(02:12):
going to last. And you wantto make sure that your inheritance that you
or that your assets that you leaveas an inheritance to your family stays in
the family. And these are thingsto think about. It in terms of
either updating your state plan if you'vealready done it, or putting it together
for the first time, this shouldbe on your mind. Can you do
that? Yes. In terms ofleaving assets to children, there's so many
(02:36):
ways to do it through the trust. I would say one of the best
ways to leave assets to children,whether it's because of a divorce or not,
it could be any creditor. Quitefrankly, you don't have to pick
and choose, would be to divideeverything. You know, I want to
treat my kids equally, so Iput it in equal buckets, and then
inside those buckets I have language thatsays, remember the trust is now irrevocable
(03:00):
because no matter what, the donoris dead. So when the donor is
dead, the trust is irrevocable.You could have the kids serve as trustee
who manage and invest their shares builtinto that trust. They can do everything
in terms of buying and selling,but they can't take it. So if
they can't take it, that meansthey can't reach in. So let's say
(03:21):
Billy can't reach into his bucket andtake money out for him or his kids.
In order to do that, theyand I would give them the power.
They the kids, have the powerto appoint an independent trustee, who,
by the way, could also removeand replace if you want them to
have that power. I think youerr on the side of caution and say,
(03:43):
listen, I give my kids thatpower. I want them to have
the flexibility. They can then removeand replace the independent trustee. So they
appoint an independent trustee. Let's sayit's me. I then get to say.
They come in and Billy says,look, I'm married, I need
money to take my kid go tocollege or prep school, or we're taking
a family vacation, or you know, I need to buy a family car.
(04:08):
It's okay. I get to decideyes or no whether that money comes
out, and I have my solediscretion. The reason that's so wonderful is
because I have no reason to sayno. And of course if I said
no all the time, he'd removeme sure and put on another person not
related or subordinate to the beneficiaries andThe wonderful thing about it is when the
(04:30):
divorce comes and the other side wantshalf of what's in this trust, they're
going to say, that's great,but you have to ask Todd. Hmmm.
Oh, I don't love that,you know, because we're going to
say no. But it really goesbeyond asking Todd, because even though that's
a nice power to have, youlook deeper and you say, is it
owned by Billy. No, thismillion dollar bucket, this two million dollar
(04:54):
bucket, whatever it is, isnot owned by Billy. Never was that
never was. Then it's not anasset of the marriage to begin with.
It doesn't matter that I can sayno, it's really not an asset of
the marriage. That's the way youwould look at it. So great ways
of getting it there, and bythe way that ownership transcends generations. So
(05:15):
if in fact you have them diehappily married, then the asset doesn't go
to the spouse, it goes tothe grandkids, and it avoids taxation in
the estate of the kid. Whybecause the kid doesn't own it. So
that's a huge win at the endof the day. And so I think
(05:35):
that is something you should think aboutwhen you're leaving assets to your family.
A lot of great information there.We're talking here with Todd Lutsky from Cushion
Dolan. If you have any questionsin the estate planning realm, whether it
be on how to leave assets toa beneficiary through a trust as Todd was
speaking about, if you were concernedabout estate taxes or gifting, give us
(05:58):
a call at our studio line ateight eighty eight to zero five, two
to two sixty three. Again,that studio line number for any of your
questions for Todd Lutsky is eighty eightto zero five two to two six three.
We're gonna take a break here,but when we come back, your
questions with Todd are up next.Ask Todd with Todd Lutsky every Wednesday at
ten thirty only here on the FinancialExchange Radio Network. You're listening to Ask
(06:25):
Todd with Todd Lutsky on the FinancialExchange Radio Network. All right here now
back with Todd Lutsky, and we'regonna go to the phones. Maureen in
Wilbraham, mass you're on with ToddLutsky. Yes, I wanted to know
what to do with a safety depositbox. I have a trust do I
(06:49):
just put that in schedule A.So when you say on schedule A,
you mean somebody died already. No, well, I just you know that
I I assume a schedule as whereI list everything that I wanted to lead
to different people. Correct, Oh, you mean on your trust there's a
schedule A. Yes. Ah,this is a great question, Maureene,
(07:11):
because people get confused by this.So on our documents we do provide a
schedule A. However, schedule Ais simply for you to tell remind yourself.
It's a quick reference page that saysI'm going to list everything that I
have put in the trust on ScheduleA. Because you list it on schedule
(07:33):
A does not mean that it isin the trust. Okay, that's just
a reference guide as a reminder foryou. So for example, I do
an estate plan for somebody, andwe prepare a new deed, and we
transfer the deed from let's say yourname Maureene into the Maureene family trust.
(07:54):
Now that house is in the trust. Now you can list that house addressed
on Schedule A. Listing it onSchedule A is not what put it in
the trust. The new deed transferringthe house to the name of the trust,
put it in there. Same thingwith like let's say you've got a
bank account or a brokerage account andit was in Maureen's name. Now it's
(08:16):
gonna say, you know, Maureenetrustee of the Maureen Family Trust. If
you're doing a revocable trust, nowthat bank account or that brokerage account is
in the trust. Once you dothat retitling paperwork, then you can list
it on Schedule A as a referenceguide. Now to your point, safety
deposit boxes. I've actually not seena safety deposit box titled to a trust
(08:43):
before. I suppose you could doit. Just check with the bank and
say, if the safety deposit boxis in my name alone, can I
just change the name on the accountto read again Maureene trustee of the Maureene
Family Trust. Now it's it's inthat in the trust, and then you
can list it on Schedule A.But simply listing it on Schedule A alone
(09:07):
is not going to mean that it'sin the trust. If you leave it
in your name, it's a probateasset and it's going to go through the
will. If you put it inthe trust, it's going to avoid probate.
Folks and that's really the easiest wayto avoid probate. Of course,
designated beneficiaries or joint accounts could dothat as well, but I think there's
problems associated with that form of ownershipall the way down the line. So
(09:31):
hope that helps a little bit.But folks, this is really an important
question because I think a lot ofpeople misunderstand Schedule A. But it also
goes towards what our guide is aswe approach the end of the month.
Folks, how to leave assets tobeneficiaries is important, right And this case,
you might have a stray safety depositbox out there and I didn't say
(09:52):
who I want to get this,But it's more than that. All your
assets right through the trust. Youcan direct how they get it. You
got a special needs child, howdo they get it? You know,
I've got new grandchildren that I didn'thave before. I want to change my
designated benefit. I want to changemy trust to leave some to them,
right. I want to as asI was asked earlier by Paul, I
(10:13):
want to protect assets from the nursingor from divorces. The trust can be
designed to do that. Folks,learn how to leave assets to children to
your family trust live on long afteryou die. And if you've done your
planning, this guide will help yougive new ideas for how you might want
to leave it. If you haven'tdone it, then this guide will get
(10:35):
you ready when you go meet thatlawyer eight six six eight four eight five
six nine nine or Legal Exchange Showdot com. You can download it there
again eight six six eight four eightfive six nine nine or Legal Exchange Show
dot com. We're going to goto our next caller, John in Grafton.
You're on with Todd Lutsky. Hi, good morning. Toddie talked about
(11:00):
putting SS in a trust to avoidfuture divorces? Yes, what about putting
real estate in an LLC to avoidfuture divorces? Does that work as well?
Well? Very different creditors we're talkingabout here, So can you do
this? Here's how The quick answeris going to be yes, But let
(11:22):
me let me try to fill insome blanks. Putting it in the LLC
isn't necessarily what protects it from thedivorce. Right, Putting a rental property
in an LLC, which I totallyagree, is the way to go to
protect you from what kind of creditor? The slip, the fall, the
party, people who leave drunk andget get hurt. I mean, these
are the people that you want toprotect from because they're gonna sue. If
(11:46):
it's not in the LLC, they'regonna sue you, John, if you're
the owner, they're gonna sue youpersonally, and they're going to go after
all of your assets, not justwhat's in the LLC, and not just
not just the property where they gothurt. So if you put it in
an LLC, now when that personfalls off the balcony and sues, they
(12:11):
are gonna sue the owner. Wellwho's the owner? The owners now the
LLC. And so if the ownersthe LLC, they're not suing John personally,
and they're not going after John's assets. So there could be a lot
of other assets you have, John, that you would like not to be
exposed. This prevents that and keepumbrella coverage. I'm not telling people to
(12:35):
throw it in an LLC and getrid of their homeowner's insurance or get rid
of their umbrella insurance because remember,the creditor does not want the building.
They want money. So they're likelynow knowing there's less of a deep pocket,
they're gonna go after the insurance company, and the insurance company is going
to have a lawyer and they're gonnafight it out. And that's what you
(12:56):
want because you want to keep theproperty. Now, to your point,
who's the owner of the LLC?The shareholder, Well, that's you.
Well, if you own the stockcertificate in your name, right and you
get divorced, that's still an assetof your marriage, right, So that's
(13:16):
not helpful. I don't know ifyou're asking about your own marriage or the
kids, which I'll get to ina minute, but that's still your asset,
so it would still be subject tothe divorce. Now, I would
want you to avoid probate. Soif you're not the one getting divorced,
transfer the shares to your revocable trust. Then when you die, that trust
owns that LLC, and that trustif it's designed the way I talked about
(13:41):
the trust earlier in the program,when Paul asked, if you design your
trust to be equally to the kidswith that divorce proof language in it that
we talked about, well, thensame rules apply. Right, So the
child gets divorced after you're dead andthey come in and they say, we
(14:01):
want that building, we want thatrental property. You're going to say,
I don't own it. Billy neverowned it, The trust owns it.
It's not a marital asset to beginwith, so the same rules apply.
So yes, putting it in anLLC by itself doesn't protect it from future
divorces. You need to connect allthose dots the way I just took you
through in order to get the protectionyou're looking for. Todd, thanks so
(14:26):
much for the time this week.That concludes our segment with us. Todd,
always a pleasure. This has beenasked Odd on the Financial Exchange Radio
network. Ask Tod with Todd.Lutsky has been presented by Cushing and Dolan,
serving Massachusetts and New England for morethan thirty years, helping families with
the state and tax planning, Medicaidplanning, and probate law. Call eight
(14:46):
hundred and three ninety three four thousandand one or visit Cushingdolan dot com.
The views expressed in this segment aresolely those of Cushing and Dolan Armstrong advisor.
He does not provide any legal ortax advice. Please consult with your
legal or tax advisor on such matters. Cushing and Armstrong do not endorse each
other and are not affiliated. Leavingassets to your beneficiaries is a critical piece
of any estate plan. Cushingian Dolanhas written a new guide that may help
(15:07):
you avoid unnecessary mistakes that can costyou dearly in the long run and ensure
that your assets are protected for generationsto come. An example, the Federalist
date tax exemption has increased by nearlya million dollars from twenty twenty three.
That could lead to a larger inheritancefor your family members. There are several
strategies in this new guide that willhelp you learn how to make the right
decisions about your distributions at the righttime. Cushing and Dolan have been helping
(15:31):
New England families for more than thirtyyears. Let them help you too.
Call eight sixty six eight four eightfive six nine nine and get their brand
new guide called How to Leave Assetsto your Beneficiaries. That number again is
eight sixty six eight four eight fivesix nine nine, or you can request
the guide online by visiting Legal exchangeshow dot com. The proceeding was paid
for in The views expressed are solelythose of Cushing and Dolan. Kushian Dolan
(15:54):
and or Armstrong Advisory may contact youoffering legal or investment services. Chushingan Dolan
in Armstrong Advisory do not endure eachother and are not affiliated
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