3007: What is a Family Trust and Should You Set One Up by Jeff Rose of Good Financial Cents on Estate Planning

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4.4 • 1.3K Ratings

🗓️ 16 January 2025

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

Discover all of the podcasts in our network, search for specific episodes, get the Optimal Living Daily workbook, and learn more at: OLDPodcast.com. Episode 3007: Explore the advantages of setting up a family trust to secure your assets, streamline estate planning, and ensure your legacy is protected. This guide highlights the steps, benefits, and key considerations to help you decide if a family trust aligns with your financial goals. Read along with the original article(s) here: https://www.goodfinancialcents.com/family-trust-benefits-setting-up-trust/ Quotes to ponder: "A family trust can offer a combination of asset protection and peace of mind for generations." "Setting up a trust isn't just for the wealthy; it's for anyone who wants their assets managed with care and foresight." "A trust simplifies estate management, making it easier for your loved ones to focus on what truly matters." Join 250K readers (20% of which have hit 7 figures) who are already building a brighter financial future - subscribe now. Sign up at readthejoe.com/subscribe-swap Learn more about your ad choices. Visit megaphone.fm/adchoices

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1:17.5	Subscribe to the average Joe now. This is Optimal Finance Daily. What is a family trust and should you set one up?
1:26.9	By Jeff Rose of Good Financial Sense.com.
1:30.5	The concept of a family trust, also known as a revocable living trust, isn't very well understood by many people.
1:38.5	The differences between a trust and a simple will, for instance, are frequently confused.
1:43.9	While it's somewhat more time
1:45.2	consuming and therefore more expensive to have a family trust prepared than a will, there are
1:49.9	significant benefits for the trust for many individuals. I have many clients that feel that they have
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