The Stacking Benjamins Show 3 Questions You're Dying To Know about Estate Planning (with attorney Tim Semro) SB1723
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Aug 18, 2025 Tim Semro, an estate planning attorney, breaks down the often-misunderstood world of wills and trusts. He explains the critical differences and when to use each one, highlighting common pitfalls with beneficiary designations. The conversation dives into tricky scenarios, like managing probate across state lines and the complexities of life insurance. Tim dispels myths, offers peace of mind strategies, and shares captivating stories that illustrate the real-world importance of planning. Tune in for laughter and insightful tips!
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Trusts Avoid Probate And Add Protections
- A trust primarily avoids probate and can add creditor protection, tax savings, and care for special-needs beneficiaries.
- Trusts cost more upfront but often save time and money later by avoiding court processes.
Keep Beneficiaries Up To Date
- Review beneficiary designations regularly and fund your trust by naming it as beneficiary on accounts.
- Update designations after account changes like CD rollovers because defaults often send assets to your estate.
Accounts Don’t Auto-Follow Your Trust
- Individual accounts are separate contracts and won't automatically follow a trust just because you listed them.
- A pour-over will moves assets into a trust but still requires probate for those assets.
