Absolute Trust Talk

Kirsten Howe: Attorney and podcaster
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Absolute Trust Talk Podcast

Absolute Trust Talk is your navigational compass that brings together the business of trusts, estate planning, and aging – your home base to find the knowledge you’re seeking on what lies ahead. With over 27 years of experience, Kirsten has seen her fair share of clients confused and overwhelmed with the complexity of estate planning and the challenges and obstacles that life can throw your way. On a mission to take her vast expertise and experience to a new level, Absolute Trust Talk host Kirsten Howe brings a thought-provoking, approachable, friendly voice to a wide variety of life and legacy planning topics. Through this series of podcasts, the Absolute Trust Talk team will connect with like-minded business professionals, industry leaders, and luminaries to spotlight how listeners can make educated and informed lifestyle and planning decisions. Living your best, quality life while preparing for the future doesn’t have to be stressful or hard, but it does have to be smart.

  1. 3 DAYS AGO

    Choosing a Child as Your Successor Trustee: Key Factors to Consider

    Are you considering naming a child as your successor trustee? In this episode of Absolute Trust Talk, host Kirsten Howe and associate attorney Jessica Colbert explore the pros and cons of selecting a child for this crucial role. They break down key factors, including whether to name one child or multiple children as co-trustees, and the potential challenges that can arise, from sibling dynamics to administrative complexities. Tune in to gain valuable insights and ensure you make an informed decision about your trust’s future.   Time-stamped Show Notes: 0:00 Introduction 1:45 What’s better—naming one or multiple children as your successor trustee? We discuss the pros and cons, starting with the advantages of naming just one child. 3:40 There are potential downsides to naming a child as your successor trustee. 5:42 After discussing the issues with naming just one child as trustee, here’s what to consider when naming multiple children as co-trustees. 6:55 Can siblings truly collaborate effectively as co-trustees? Hear our thoughts in this segment.

    8 min

  2. 9 SEPT

    How to Choose the Right Successor Trustee for Your Trust

    Are you prepared to name a successor trustee in your estate plan? Don’t worry if you’re unsure—this episode of Absolute Trust Talk will guide you through the process. We’ll break down the most important traits to look for in a successor trustee, such as trustworthiness, reliability, and the ability to seek professional advice when needed. Plus, we’ll share common pitfalls to avoid so you can make the best choice for your family’s future.   Time-stamped Show Notes:   0:00 Introduction 0:50 What is a Successor Trustee, and why is naming one essential for your estate plan? 1:37 Trustworthiness is a critical quality when naming a successor trustee. Learn why it’s so important. 2:30 The next trait to consider in a successor trustee is often underestimated. 3:05 Does your successor trustee need to live nearby? The answer might surprise you. 4:20 We’ve covered the must-have qualities, but here’s a major red flag to avoid: Ego.

    6 min

  3. 2 SEPT

    How to Legally Access a Loved One's Bank Account After Death

    Have you ever faced the frustrating challenge of accessing a loved one’s bank account after their passing? You're not alone. In this episode of Absolute Trust Talk, Kirsten Howe and associate attorney Jessica Colbert break down the complexities of this process into simple, actionable steps. They explain the different types of account ownership—whether joint, trust-held, or individual—and guide you through the specific steps required to gain access to each. Plus, they debunk the common misconception that a Power of Attorney can be used after death, highlighting why it’s not only ineffective but illegal. Whether you’re managing a joint account, a trust, or an individually owned account, this episode provides the practical advice you need to navigate these tasks smoothly and avoid costly complications.   Time-stamped Show Notes:   0:00 Introduction 0:40 What happens to a decedent’s bank account after they die? The process depends on how the account was held. 2:25 In this segment, we dive into the steps you can take to legally access a loved one’s joint bank account after they pass away. 3:08 Accessing a Pay on Death (POD) account follows a process similar to joint accounts. Here’s what you need to know. 3:40 Is the bank account titled in the decedent’s trust? If so, there's a different process you need to follow. 4:35 Now for the complicated one: The decedent owned their bank account outright. Here’s what to do. 6:00 Did you know that if the total value of the decedent’s bank account is less than $184,500, you might be able to avoid probate?

    9 min

  4. 28 AUG

    Trustee and Executor Responsibilities: Best Practices and Pitfalls Part 3

    Navigating estate planning as a surviving spouse can be complex, especially when dealing with the intricacies of an A-B trust. In this episode of “Trustee and Executor Responsibilities: Best Practices and Pitfalls,” Kirsten Howe and associate attorney Jessica Colbert focus on the A-B Trust—an estate planning tool that was once commonly used to minimize estate taxes but is often misunderstood today. They explain what an A-B Trust is, why it’s important to address the trust split promptly after a spouse’s passing, and the complications that can arise if it’s delayed. Whether you’re a trustee, executor, or simply looking to better understand how to protect your assets, this episode offers clear, practical advice to guide you through the process. Tune in to learn the essential do’s and don’ts for surviving spouses handling an A-B trust.   Time-stamped Show Notes:   0:00 Introduction 1:11 Curious about how an A-B Trust works? Press play here for a straightforward explanation. 1:52 Did you know an A-B Trust might not be the best tool for avoiding estate taxes? 3:14 Ever heard of a “stale trust”? This is what happens when you wait too long to address your trust after a loved one passes. 4:14 If you have an A-B Trust, splitting it when your spouse passes is required—but there is a potential workaround. Learn more here.

    6 min

  5. 21 AUG

    Trustee and Executor Responsibilities: Best Practices and Pitfalls Part 2

    Taking on the role of a trustee or executor can be daunting—and for good reason! With so many responsibilities and legal requirements, checking all the necessary boxes can feel overwhelming. In this episode of Absolute Trust Talk, we continue our discussion on trustee and executor duties, focusing on the critical importance of notices. For instance, the trustee's or executor's responsibility is to ensure that all beneficiaries and heirs are properly notified of the decedent’s passing. And that's just the beginning. If you’ve recently been named a trustee or executor, you won't want to miss the valuable insights in this episode. Tune in now!   Time-stamped Show Notes:   0:00 Introduction 1:40 Did you know that when someone passes away, a notice must be sent to beneficiaries and heirs? 3:20 An often overlooked but essential notice must be sent to the Department of Health Care Services, even if the deceased wasn’t receiving Medi-Cal. 5:20 If the estate includes real property, notifying the assessor's office is a must. Press play now for what you need to know. 6:18 What if there are multiple properties spread across different counties? Listen in for Jessica’s key tip on handling this situation.

    8 min

  6. 15 AUG

    Navigating Trustee and Executor Responsibilities: Best Practices and Pitfalls

    When asked to be a family member’s trustee or executor, it’s easy to immediately say yes out of love and a sense of duty. It’s just some paperwork, right? How hard could it be? At Absolute Trust Counsel, we’ve seen the struggles trustees and executors face, particularly when they are family members. The role involves a heavy workload, significant responsibility, and the meticulous task of bookkeeping—often the most daunting part.   It’s easy to overlook these critical aspects, which is why our goal for this episode of Absolute Trust Talk is to ensure you’re fully informed. Whether you’re currently serving as a trustee or executor, planning to take on the role, or considering appointing someone yourself, this episode is not to be missed.   Time-stamped Show Notes:   0:00 Introduction 0:40 Jessica begins by explaining the nuanced differences between a trustee and an executor, clarifying the roles of executor and administrator in this context. 1:50 Common misunderstandings arise about family members appointed as trustees or executors, particularly the amount of work involved. 3:22 Jessica highlights the significant level of responsibility that trustees and executors must shoulder. 4:40 While the workload and responsibility are critical, there’s one particular challenge that stands out above the rest. Here’s what you need to know. 7:12 We conclude by encouraging all trustees and executors to take these lessons to heart, ensuring they are fully prepared for their roles.

    8 min

  7. 6 AUG

    Can You Avoid Probate without a Trust?

    Can you avoid probate without a trust? The short answer is yes, but the alternatives can have risks and offer limited control over your assets. In this episode of Absolute Trust Talk, Kiersten Howe and associate attorney Jessica Colbert explore various probate-avoidance strategies, including beneficiary designations, transfer-on-death accounts, and joint ownership. Tune in to gain valuable insights, understand the drawbacks of these methods, and discover more secure ways to prepare for death or incapacity while minimizing risks.   Time-stamped Show Notes: 0:00 Introduction 1:00 There are a few options for avoiding probate without a trust, but we don’t recommend going an alternative route unless there are extenuating circumstances. 3:00 One common method is a Transfer-on-Death account, but this type can have many issues. Listen in to learn why. 4:56 Another way to bypass probate without having a trust is through Assets Owned in Joint Ownership. Here’s what you need to know. 6:53 One consideration often overlooked is incapacity planning - a key aspect of estate planning and another reason we don’t like using the Transfer-on-death method. 8:15 Final takeaway: Most of the options for avoiding probate without a trust come with risks because they neglect to consider many common circumstances in future planning.

    9 min

  8. 30 JUL

    142: Navigating Trust Administration with Real Property

    Navigating the administration of a life estate trust with real property can be a complex task. In this episode of Absolute Trust Talk, Kirsten Howe is joined by Karen Fisher and Kathy Rodriguez of Bishop Fiduciary Services to delve into the intricacies of life estates involving real estate. They cover the unexpected responsibilities of a trustee, strategies for properly dividing assets, and essential tips to set up your trust for success if you own property. Whether you’re crafting your estate plan, managing one for someone else, or potentially inheriting one, this episode is packed with valuable insights you won’t want to miss.   Time-stamped Show Notes:   0:00 Introduction 2:36 Being a trustee comes with a wide range of responsibilities. One important aspect is to examine the terms of the trust to determine what the life estate beneficiary and trustee are responsible for. It’s also very important to consider liquidity. 7:58 What if a beneficiary wants a portion of the trust to go toward their inheritance? Short answer: Trust the trust. 10:30 Many questions and concerns about the property can be eliminated by one action: Getting an appraisal. 11:30 Interested in the appraisal process? Tune in now as Karen and Kathy break it down for us. 16:45 We asked our guests what they wished their client’s trust included. Here’s what our experts had to say about trust inclusions.   17:52 Karen’s time- and money-saving advice: Don’t wait to downsize. 19:00 Thank you to our amazing guests, Kathy and Karen, for sharing such great insights with us!

    18 min
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About

Absolute Trust Talk is your navigational compass that brings together the business of trusts, estate planning, and aging – your home base to find the knowledge you’re seeking on what lies ahead. With over 27 years of experience, Kirsten has seen her fair share of clients confused and overwhelmed with the complexity of estate planning and the challenges and obstacles that life can throw your way. On a mission to take her vast expertise and experience to a new level, Absolute Trust Talk host Kirsten Howe brings a thought-provoking, approachable, friendly voice to a wide variety of life and legacy planning topics. Through this series of podcasts, the Absolute Trust Talk team will connect with like-minded business professionals, industry leaders, and luminaries to spotlight how listeners can make educated and informed lifestyle and planning decisions. Living your best, quality life while preparing for the future doesn’t have to be stressful or hard, but it does have to be smart.

Information

  • Creator
    Kirsten Howe: Attorney and podcaster
  • Years Active
    2018 - 2024
  • Episodes
    100
  • Rating
    Clean
  • Copyright
    Absolute Trust Counsel © This podcast is presented for informational purposes only. The content of this podcast is not intended as legal advice.
  • Show Website
    Absolute Trust Talk

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