Protect Your Family, Mitigate Taxes and Preserve Your Wealth with Patrick Hicks and Mani Mahadevan

131 snips

Jun 22, 2022

Patrick Hicks, Head of Legal at Trust & Will, and Mani Mahadevan, Founder and CEO of Valur, dive into the essentials of estate planning. They discuss the critical role of wills, the benefits of trusts, and why choosing the right team is vital for family welfare. The conversation explores advanced strategies for tax mitigation and wealth preservation, including charitable trusts that combine philanthropy with financial savvy. They also emphasize using technology to democratize access to these wealth-building tools, making them accessible to everyone.

Ask episode

AI Snips

Chapters

Transcript

Episode notes

ADVICE

Create a Will Early

Create a will as early as age 18 to ensure your wishes are legally binding.
A will dictates asset distribution, child guardianship, and final arrangements.

INSIGHT

Intestacy and Default Laws

Dying intestate means dying without a will, invoking state default laws.
These laws prioritize close relatives, which may not align with individual preferences.

ADVICE

Asset Distribution without a Spouse

Without a spouse, assets go to the closest living relatives, which can be distant.
This process can deplete assets due to fees and expenses before reaching beneficiaries.

Get the Snipd Podcast app to discover more snips from this episode

Get the app