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The Living Trust Lie

Most people who have a living trust assume that all of their estate planning needs are taken care of. However, this isn’t necessarily the case. Over the course of his career, Michael Hood has learned that there are ten things a living trust will not do for clients. In discussing estate planning with his clients, he often discusses in-depth the elements of a strong estate plan and what a living trust can't provide.

Through these conversations, he often addresses how to:

  • Protect lost income to surviving spouse and heirs.
  • Create a fair distribution in second marriages.
  • Reduce or eliminate estate taxes- beyond limits.
  • Reduce or eliminate IRA taxes upon death.
  • Reduce or eliminate Annuity taxes upon death.
  • Protect assets from a long term care illness.
  • Enhance your life insurance coverage.
  • Guarantee an income you can never outlive.
  • Replace investment losses to spouse and heirs.
  • Simplify estate distribution at death.

Learn more about what a living trust does not include by contacting Hood Financial by calling (760) 752-7848 or emailing Michael here.