In this episode of the Main Street Business Podcast, Mark J. Kohler and Mat Sorensen explain why every adult—single or married, wealthy or not—needs a will and a revocable living trust. Learn the practical steps for setting up your estate plan, naming a trustee, and ensuring your assets stay protected and your wishes are followed.

Here are some of the highlights:

Mark emphasizes the importance of having a will, noting that 50% of Americans do not have one.
Mat explains that a trust allows for more control over who gets what, when, and under what conditions.
Mark and Mat discuss the flexibility of a trust, including the ability to amend it as life circumstances change.
Example of Robin Williams' will being made public, highlighting the privacy benefits of a trust.
A living trust is effective immediately and can be funded with assets during one's lifetime.
The concept of a "trifecta" or "pitcher" that brings together all the elements of an estate plan.
Mark clarifies that a trust does not provide asset protection and should not be used for that purpose.

Grab my FREE Ultimate Tax Strategy Guide HERE!
You don't want to miss this! Secure your tickets for the most significant business, tax & legal event of the year: Main Street 360
Looking to connect with a rock star law firm? KKOS is only a click away!
Are you ready to get certified in EVERY strategy I teach? Start your journey with a FREE 15-minute discovery call to explore the Main Street Tax Pro Certification.
Check out our YOUTUBE Channel Here: https://www.youtube.com/markjkohler
Craving more content? Check out my Instagram!

Fuel for the fire (with Said Iqbal of the KSPI)