Which Trust May Be Right for You?

December 13, 2021
There are many advantages to having a trust in addition to a will, but is a trust right for you?

Listen on Apple Podcasts, Google Podcasts, Spotify or copy to your RSS reader.

Transcript Open new window

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.

Subscribe to Financial Decoder for free on Apple Podcasts or wherever you listen.

If you enjoy the show, please leave us a rating or review on Apple Podcasts.

Learn more about behavioral finance. 

How Much Risk Is Right for You?

Every investor wants to maximize return—but you must first consider how much risk you can stomach.

Under Pressure: With Guests Svetlana Savranskaya, Gary Slaughter & Modupe Akinola

How can we make important decisions when time is scarce and the stakes are high?

Out of Proportion: With Guests Damon Lesmeister & Kelly Shue

Non-proportional thinking, or focusing on absolute numbers rather than percentages, is just one way we get mixed up when we should be carefully calculating and comparing ratios.