Transcript of the podcast:
After you listen
Many people do not enjoy the process of thinking through what happens to their assets after they pass away. But the decisions to be made are a crucial part of estate planning. Life can be complicated, and there are many advantages to having a trust in place. But the jargon surrounding trusts can be overwhelming. How can you determine which trust is right for your particular situation?
In this episode, Mark talks with Austin Jarvis. Austin is a director of estate, trust, and high-net-worth tax advice at the Schwab Center for Financial Research. He's worked as an advanced-planning attorney and in the estate and gift tax section of the Internal Revenue Service.
They discuss how a variety of different trusts work, including the SLAT, ILIT, special-needs trust, credit shelter trust, and the most common type—the revocable living trust.
You can learn more about choice overload on the "Spoiled for Choice" episode of Choiceology with Katy Milkman.
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The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.
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This information is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, Schwab recommends consultation with a qualified tax advisor, CPA, financial planner, estate attorney, or investment manager.
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Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.
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