Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Ask KT & Suze Anything: Do I Need a Will and a Trust?
Jul 25, 2024
In this podcast, topics range from managing home ownership after a breakup, understanding CDs and callable CDs, to financial planning for disability, social security, and divorce. The hosts also share amusing anecdotes about birthday celebrations and express gratitude for Alliant Credit Union.
38:50
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Quick takeaways
- Clarity in property ownership rights is vital when dividing inherited property among siblings for a seamless transition.
- Setting up a living revocable trust alongside a will can ensure assets are distributed per the grantor's wishes, bypassing probate.
Deep dives
Considerations for Estate Planning and Property Rights
When planning for the future division of an inherited property among siblings, ensuring clarity in property ownership rights, such as joint tenancy with right of survivorship or tenants in common, is crucial. With a will specifying inheritance intentions, it must meet legal requirements, including being in written form, signed by the testator in the presence of witnesses, and ideally notarized for additional security.
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