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Mind of a Millionaire: Estate Planning; Interview with Susie Germany

| May 17, 2019
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Welcome to episode 40 of the Mind of a Millionaire podcast. This week we are lucky enough to be joined by Susie Germany, an expert estate planning attorney. Susie discusses the ins and outs of creating a trust and answers several questions that we are frequently asked regarding estate planning.

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Please reach out with any finance questions you may have – we would be happy to help.

 

Who is Susie Germany? [1:38]

What is a trust and who needs one? [2:54]

What are some strong characteristics of a trustee? [3:32]

What kinds of provisions can you put in a trust? [5:49]

How do I protect these assets if my child gets a divorce? [6:25]

Revocable vs irrevocable? [7:11]

What is a special needs trust?[10:15]

Who would need a special needs trust? [12:32]

What are ABLE accounts? [15.02]

  • How can families ensure they are taking distributions that won’t affect their government benefits? [17:23]

Do you get a tax deduction for putting money into an ABLE account? [20:40]

What is transition planning?[25:27]

Power of attorney [29:32]

Where can you find Susie? [33:35]

 

Thank you again for listening. If you have any questions regarding estate planning or any other financial questions, don’t hesitate to reach out.

 

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.

No strategy assures success or protects against loss.

Susie Germany and The Germany Law Firm are not affiliated with LPL Financial and Denver Wealth Management.

LPL Financial and Denver Wealth Management do not offer tax or legal advice. This information is not intended to be a substitute for specific individualized tax or legal advice. We suggest that you discuss your specific situation with a qualified tax or legal advisor.

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