Jan 6, 2019
Do you know about all the different types of trusts that are out
there?
There are many others besides the basic revocable living trust,
and they’ll ensure your money and assets are protected, too! It can
be hard to keep track of all the varying trust and retirement
account types. That’s why I’ve broken them down so you can stay
educated on which options may be best for you.
In this episode of The Chris Berry Show, I’ll talk about trusts,
retirement accounts, and how they’re taxed. I’ll also get into Roth
conversions and ways to save for your children or if you are
self-employed.
In this episode, you’ll learn...
- Chris’ positive focus for the week.
- What we do and why we stand apart from the rest.
- The different types of trusts and how they’re managed and
taxed.
- The difference between grantor trusts and non-grantor
trusts.
- Why an asset protection trust may be better than a revocable
living trust.
- About Veteran’s Asset Protection and Castle trusts.
- About different retirement accounts.
- Roth conversions, current taxation of retirement accounts, and
which IRA is right for you.
- The magic time to do a Roth conversion.
- How to save if you are self-employed.
- How to set-up a Roth for your child.
- How to understand beneficiary designations on IRAs.
- When to utilize tax-deferred accounts or Asset Protection
Trusts.
- About our ongoing workshops.
Q&A
In each episode, I take questions from listeners. If you have
any questions that you want answered, feel free to email us at
askchris@thechrisberryshow.com.
Here are the questions I covered in this episode:
- Harvey asked: “What is Enhanced Estate Recovery? Explain the
options for long-term care cost offset and protection. What are the
financial costs?”
- Ken asked: “Can a person who changed the trust, along with the
attorney who drafted it, be in hot water if the person has
dementia?”
- Sam asked: “Is it a good idea to have a brokerage manage my
investments? If so, how do I find a firm to do that?”
- “My company offers a 401K and a Roth 401K and I currently
contribute to both. Should I put all my contribution money towards
the Roth?”
Links & Resources
CJBerryGroup.com
TheChrisBerryShow.com
Michiganestateplanning.com
Register for one
of our free estate & asset protection workshops
Follow us on Social Media
Twitter: www.twitter.com/ElderCareFirm
Facebook: www.facebook.com/chrisberryshow
LinkedIn: www.linkedin.com/in/christopherjberry