{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"064: Trust Failures: Don\u2019t Let This Happen to You","description":"At Absolute Trust Counsel, in nearly 100% of the trust administrations, we\u2019re hired to execute, there is a least one failure that could have been avoided. Some of these failures are small and simple to fix. Unfortunately, the majority are much more difficult to rectify. In this context, difficult also means expensive. As a trust grantor, it is vital to review your estate regularly, especially if there are significant life changes. Talk to your estate planning attorney and keep your documents up to date to ensure your wishes and promises to your beneficiaries are kept. In a new episode of Absolute Trust Talk, Kirsten sits down with fellow Absolute Trust Counsel attorney Madison Gunn. Madison joined the firm in 2019, bringing extensive legal background and experience, starting as an intern and working her way up to attorney at law. She has a passion for helping seniors, individuals, and their families prepare and protect legacy over the last few years in all aspects of estate planning and trust administration. As a fellow expert, Madison joins Kirsten to discuss some of the most common trust administration failures and what you need to do to avoid these issues with your own estate plan. No matter what stage of the trust administration journey you\u2019re in, you\u2019ll want to listen to this podcast and protect the future of your legacy and your beneficiaries. Big Three from Episode #064: When it comes to real estate and your trust, make sure you know how everything is titled. If you\u2019re going to make promises to potential beneficiaries and inheritance, be sure to talk to your estate planning attorney and get things in writing. Keep all your documents up to date, and be sure to dot all your I\u2019s and cross all your T\u2019s to make sure your estate plan truly follows your wishes. Time-stamped Show Notes: 4:09 \u2013 Madison and Kirsten jump right into discussing the most common failure they see, which has to do with funding a trust. 4:56 \u2013 Madison shares a couple of things that can cause real estate to fall out of a trust.  10:04 \u2013 This is what happens to the trust when real estate falls out \u2013 hint, it can be frustrating and expensive! 11:57 \u2013 Like the failure of funding, Kirsten and Madison discuss another common failure \u2013 a lack of beneficiary designations. 16:26 \u2013 Another common failure has to do with your current living arrangements. 18:21 \u2013 Kirsten shares a scenario where this failure comes into play. 23:52 \u2013 Should you put real estate that\u2019s located out of state in your trust? 25:10 \u2013 Can you name your trust as the beneficiary of your IRA? 26:24 \u2013 Should your trust own safety deposit boxes? [Ad] Planning for the future is vital to ensure that you and your family are protected and prepared throughout your later years of life and beyond. Please don\u2019t wait until it\u2019s too late. Schedule a free discovery call today, and we\u2019ll review your case to make sure all your needs are met. Take the Next Step in Your Estate Planning Journey If this episode resonated with you, we'd love to help you with your own estate planning needs in California. Schedule a complimentary discovery call with our team at Absolute Trust Counsel. During this no-obligation conversation, we'll: Learn about your unique situation and goals Answer questions about our services Determine if we're the right fit to work together  Visit https:\/\/absolutetrustcounsel.com\/scheduling\/ or call 925-943-2740 to schedule your free discovery call today. Follow and Review: We\u2019d love for you to follow us if you haven\u2019t yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We\u2019d love it even more if you could drop a review or 5-star rating over on Apple Podcasts. Simply select \u201cRatings and Reviews\u201d and \u201cWrite a Review\u201d then a quick line with your favorite part of the episode. It only takes a couple second and it helps spread the word about the podcast. Episode Credits: The Absolute Trust Talk podcast is brought to you with the help of Q2Mark, led by Chief Marketing Officer Susie Hays. Since 2016, Q2Mark has partnered with Absolute Trust Counsel on all marketing communications\u2014from brand development and website design to this podcast series with over 192 episodes, social media management, video production, and more. If you're business owner looking for comprehensive marketing support, visit Q2Mark.com. ","author_name":"Absolute Trust Talk","author_url":"https:\/\/absolutetrustcounsel.com\/podcast","html":"