Encore: The 5 Types of Trusts (and when they are used)
Big Picture Retirement®
Devin Carroll
4.7 • 546 Ratings
🗓️ 7 November 2022
⏱️ 48 minutes
🧾️ Download transcript
Summary
A trust is a legal entity, just like a corporation or an individual person. All trusts will have an exchange of property and three categories of people: the people who create it, called the grantors, or the settlers, or the trust-makers the people in charge of the trust, usually called the trustees the beneficiaries: the people who get the benefit of the trust Devin and John go over the different types of trusts and when to use them.
Transcript
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| 0:00.0 | The Big Picture Retirement Show does not provide tax, legal, or financial advice. Listeners are encouraged to seek out their own advisors in these areas. Hey, everyone. Welcome to The Big Picture Retirement Show. I'm your host, Devin, and today, John and I are taking the day off. So we have an encore episode for you. We went back, searched through our archives, and there's one show we wanted to bring back one of our most popular shows ever on |
| 0:21.4 | the five types of trust and I hope you enjoy. |
| 0:28.0 | Hello everyone. |
| 0:29.0 | Welcome to the big picture retirement show. |
| 0:31.1 | This is the podcast for anyone who is planning for or living in retirement. |
| 0:36.8 | Hey, I'm Devin Carroll and with with me today is John Rolk. |
| 0:41.1 | Howdy. |
| 0:43.4 | Hello, John. |
| 0:44.4 | Howdy. |
| 0:44.9 | John, you know, we put a Facebook post up some time ago, and we pinned it to the top. |
| 0:49.5 | And in that Facebook post, we said, hey, we'd like to hear your ideas for topics. So today, we wanted to |
| 0:57.0 | tackle one of those that we hear over and over. We had a few folks leave a certain topic, |
| 1:03.1 | and I know you've got it pulled up over there looking at it. I mean, there was one in particular, |
| 1:07.7 | and somebody had said that they'd just be happy about an episode about trust in general. |
| 1:11.4 | But then there were several about things like what assets shouldn't be moved into a trust, |
| 1:15.9 | what assets are overlooked and should be moved into a trust. |
| 1:19.3 | And then there were some others that were, they weren't asking specifically about trust, |
| 1:23.1 | but they were, they just didn't realize it. |
| 1:24.8 | Right. |
| 1:25.2 | This is something that I'm personally interested in because you and I got in a conversation |
| 1:29.3 | sometime last year about doing some trust planning for me. |
| 1:33.2 | Right. |
... |
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