Absolute Trust Talk Kirsten Howe: Attorney and podcaster

Family conflict after a loved one has passed is very common, but that doesn’t mean it can’t be avoided. In our years of experience in estate planning, we’ve seen many different scenarios play out and have a thorough understanding of the nuances that tend to cause these conflicts. The number one reason for disputes over a trust lies in the feeling that it is not fairly divided. While Mom and Dad or Aunt Sally can set up their estate however they wish, often, a simple conversation with family can go a long way to clarify why certain decisions were made.
In this episode of Absolute Trust talk, we discuss the top three areas where the biggest issues arise: real estate, tangible possessions, and perhaps most importantly, who gets appointed trustee. We’ll also share relatable examples, easy-to-follow advice, and more to help ensure your estate plan is carried out peacefully and as you see fit.
 
Time-stamped Show Notes:
0:00 Introduction 
0:49 While every family has their own unique situation, the number one reason people contest a trust or estate plan is because they feel they didn’t get their fair share.
2:52 Hiring a professional to act as trustee can have unexpected benefits for managing your trust. Here’s what you need to know.
3:50 Appointing a family member as a trustee can come with complications. Here are just two great examples. 
5:15 It’s a common misconception that if you hire a third-party fiduciary, your children will have no say in anything. But that couldn’t be further from the truth.
5:50 Here’s an extra piece of advice: If real estate can be a point of conflict, write a provision to have your house sold after you’re gone.
6:51 There’s no question that family feuding over a loved one’s belongings is common. Here are ways you can mitigate it.

When we first begin working with a client who is setting up their estate plan and, more specifically, building a trust, the number one question we always get is whether they need a revocable or an irrevocable trust. For us, this is always an interesting and fun conversation because as soon as the client hears the difference, they immediately know which tool they need. 
Not to give it all away, but the standard option is the revocable trust; however, there are certain instances in which the irrevocable trust is needed—there is no one-size-fits-all approach to estate planning. So, which trust is right for your specific circumstance? Press play and listen in for more details, and of course, when you meet with your estate planning attorney, they will help ensure you’re making the right decision to protect your loved ones and your future. 
Time-stamped Show Notes: 
0:00 Introduction
0:55 A revocable trust is what we typically do in our practice, which gives you control over everything in your trust, you are in charge. 
1:10 An irrevocable trust is used to give everything away; you can’t change it. 
1:58 Next, Madison discusses in more detail why you would want to use an irrevocable trust and how they are set up. 
4:40 If you’re worried about being sued, that may be another issue. Your trust isn’t generally going to protect you from something like that. Here’s what you need to know. 

Welcome back! In our last episode of Absolute Trust Talk, we were joined by expert psychotherapist and certified coach Tess Brigham, MFT, BCC, to discuss the differences between generations and, more specifically, examine the unique dynamics between Baby Boomer parents and Millennial children. 
In this episode, we continue our conversation with Tess, focusing on the interactions between Gen X parents and Gen Z children. These two generations are very interesting as Gen Xers were heavily influenced by events like the Persian Gulf War, the women’s movement, and high divorce rates. As Tess points out, this generation is a very “figure it out on your own” group. Whereas Gen Zers are true digital natives and have no real concept of life before technology. We hope you will listen in as we talk about how these generations’ unique experiences shaped their approach to estate planning. Plus, we share some special insights from real client stories! 
Time-stamped Show Notes: 
0:00 Introduction
1:19 To kick off the episode, Tess gives us a little background refresher on what types of events and movements had an impact on these two generations. 
7:30 One way the younger generations differ from the older ones, in terms of estate planning, is how they consider the possibility of divorce and whether they want to burden their children with responsibility. Listen in to learn more! 
10:55 We’re likely all familiar with the stereotype that the oldest daughter always gets the responsibility of taking care of her parents, but will this continue with the newer generations? 
14:05 At the end of the day, women are biologically and evolutionarily designed to care for family, so perhaps we won’t see a change in the oldest-daughter-caretaker stereotype after all. Only time will tell! 
15:29 As we wrap up the show, we highlight why it’s important to analyze how these heavy conversations play out among generations. 

The battle between the generations is real and seems to be everywhere. Yes, generational divides even play a role in estate planning. In fact, estate plans nowadays are built around more diverse and multigenerational families than ever before. In this new episode of Absolute Trust Talk, we are joined by psychotherapist and certified coach Tess Brigham, MFT, BCC. Tess specializes in helping young adults discover their unique life path to enter the world and make an impact. Join us as we discuss how the generations are defined, what makes each one unique, and how these factors influence estate planning.
Time-stamped Show Notes:
0:00 Introduction
1:18 Please join us in welcoming expert psychotherapist, certified coach, author, and public speaker Tess Brigham!
3:26 To begin our discussion, Tess lays a foundation by defining the various generations, starting with the Silent Generation.
4:58 Next, we discuss the Baby Boomers, who currently make up about 20-25% of our population.
5:53 Gen X: Raised on hose water and neglect, those born between 1965 and 1980.
6:57 Millennials have gotten a lot of negative attention, so we’re digging in to get a deeper understanding.
10:51 Finally, listen in to find out what makes Gen Z so different from the rest.
12:28 Here, we discuss some of the main things that determine generational differences. These include world events, parenting styles, research, and the environment.
19:25 Did you know that generational differences have a fairly large impact on estate planning? Listen in to learn more, especially regarding living situations.
28:14 In this episode, we delve into important details about the impact of different generations' upbringings and how they influence certain estate planning decisions. We’re just getting started! Thank you, Tess. We can’t wait to continue our discussion with you in Understanding Multigenerational Estate Planning Part 2!

Recently, the entertainment world has been abuzz with numerous high-profile conservatorship battles, and the latest to emerge involves iconic singer Cher. She has initiated a conservatorship petition concerning her son, Elijah Blue Allman, aiming to oversee the financial benefits he inherits from his father, the late Greg Allman's trust. Legal filings state the urgent need for a conservator to safeguard Elijah's estate against potential damages or losses, citing his inability to manage his finances due to significant mental health and substance abuse challenges. Tune into a new episode of Absolute Trust Talk for an in-depth analysis of this situation and to explore possible measures Greg Allman might have taken to avert such a conservatorship scenario.
Time-stamped Show Notes:
0:00 Introduction
1:09 Madison Gunn fills us in on the conservatorship case for Cher’s son, Elijah Blue Allman. In short, Cher is concerned Elijah will use his father’s trust money to feed his drug addiction.
2:24 Next, we look at how this conservatorship case differs from the others we’ve recently covered in that the others were to make sure someone with dementia could get the care they need.
3:14 Another major difference in this case is that Elijah Allman does not agree with the conservatorship and will contest it in court.
4:23 Estate Planning Lesson: Greg Allman likely knew of his son’s drug problem and could have put provisions in his trust for this possibility.
6:52 As we wrap up, we want to drive home this message: You can always plan ahead if you’re concerned about your child(ren)’s management of their portion of the trust.

When you think of the Beach Boys, what comes to mind? We’re betting it’s not a complicated conservatorship case. Unfortunately, that’s what’s happening with the Beach Boys Founder, Brian Wilson. Mr. Wilson’s long-time wife had been his healthcare directive, but with her recent passing, it was discovered that no one was ever named as a backup. Now, the question is not only who will pick up her role as Mr. Wilson’s healthcare directive, but how. With Brian Wilson being considered unable to make these decisions for himself due to dementia, the solution is not a simple one. Tune in to learn more about the conservator process and how to avoid these complications yourself.
 
Time-stamped Show Notes:
0:00 Introduction
2:07 To start, Madison gives us an overview of the case with Brian Wilson, who now has to file for conservatorship because he never named a backup healthcare directive.
3:47 Now, we dive deeper into the more complex details of Mr. Wilson’s situation and the possibilities we see with the petition process.
5:26 Unfortunately, these issues are not new for Mr. Wilson, who seemed to have been taken advantage of in the past.
06:08 Here’s the big takeaway from this episode: Name backups on your estate planning documents. You need options!