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850: Protect Yourself and Your Family by Believing That Bad Things Happen

Radical Personal Finance

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Should I Get My Parents Out?

The consequences of not getting out are simply too high. I always think about this in the context, in my line of work as a financial planner, of what's called a springing trust. If you're from the united states, it its access to assets are mostly in the united states. That keeps your costs low, keeps things simple, et cetera. But then you put certain springs in there where if this happens, if the threat goes up, then the trust, the trustee, has the direction to immediately move the trust into an offshore jurisdiction. And so i hope very much that that listener got his parents out and that they were safe in the United States.

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