#434 Creative Provisions For Your Wealth When You Die

Main Street Business

Mark J Kohler and Mat Sorensen

Tax Reform, Entrepreneurship, Business, Irs Updates, Tax Tips, Legal Compliance, Business Structure, Tax Prep, Accounting, Tax Strategies, Management, Financial Reporting, Estate Planning

2.4 • 584 Ratings

🗓️ 12 June 2023

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

Mark and Mat discuss ways to create a secure legacy after you pass away. They give tips on how to distribute your estate, and ways you can ensure it gets to where you want it to go. Grab my eBook 30 Unique Strategies Every Business Owner Should Know! You don't want to miss this! Secure your tickets for the #1 Event For Small Business Owners On Main Street America: Main Street 360 Looking to connect with a rock star law firm? KKOS is only a click away! Are you ready ...

Transcript

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0:00.0	Every American should have a revocable living trust. Young or old, rich or poor, kids are no kids, married or single, the trust is your foundation. What would you rather have? Would you rather get a $120,000 in cash from the estate from your, let's say, parent passes away? Or would you rather get a $100,000 Roth IRA? What would you rather have? I'm going to take the Roth, please. The Roth for $100,000. You're going to give up the 20 grand.
0:24.5	I'm going to take the Roth, please. The Roth for 100,000.
0:23.0	You're going to give up the 20 grand. I'm going to give up the 20 grand. You can put in your trust
0:27.0	when I die, create a charity that puts tennis shoes on kids in the Navajo Nation in Arizona.
0:34.7	Welcome, everyone to the Main Street Business podcast. This is Matt Sorensen, joined by the incredible Mark J.
0:40.0	Kohler.
0:40.6	We're so excited to be with you today talking about your death.
0:44.5	Your death.
0:45.8	It's not exciting.
0:48.4	Maybe not.
0:49.3	Okay.
0:50.3	For anyone still listening, we're talking about creative provisions and planning for when you do pass on.
0:58.4	You see, I need you to just, you know, be my communicator when I'm trying to say things.
1:02.7	That made, that sounded so much more nice.
1:04.7	So you die.
1:05.8	You're all going to die.
1:07.1	So we need to say it.
1:08.1	Okay.
1:08.4	But, yeah, no, I, this is, but you know, the fun part,
1:10.8	yours is the creative. Yeah. I think creative. Yeah. Because you, all of you have worked so hard to
1:15.8	build wealth, build a business, build real estate, build investments, your 401k, IRA, whatever.
1:20.8	What's going to happen to when you die? Well, why not come up with some unique provisions
	...

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