#505 Why The Rich Put EVERYTHING In Their Living Trust

Main Street Business

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In this episode of the Main Street Business Podcast, hosts Mark J. Kohler and Mat Sorensen present the 4 key benefits of a living trust, no matter your age or wealth status, and how it can secure your family’s financial future after you’re gone.

Here are some of the highlights:

• Mark and Mat give a thorough explanation of what a living trust is and its role in estate planning.
• Discussion on how a living trust avoids court and probate, keeping matters private.
• An in-depth comparison between a living trust and a will
• Encouragement to consider estate planning for parents or grandparents.
• A break down of how a living trust saves money in the long run by avoiding court fees and legal battles
• Helps prevent heirs from mismanaging their inheritance.
• How a living trust allows for creative distribution of business assets among heirs.
• Mark and Mat urge everyone to budget for estate planning and update plans as needed.

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Chapters

1. Benefits of a Living Trust (00:00:00)

2. Importance of Estate Planning and Legacy (00:05:54)

3. Importance of Estate Planning Benefits (00:16:46)