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Attorney-CPA Joe Cordell and co-host Susan Arthur continue their discussion on wills and trusts. They break down the roles you assign to others when you create a will or trust and how conflict can arise when you have one person occupying all three roles.

Joe and Susan talk about the opportunities that trust provides, in having control of the assets and being able to offer beneficiaries a meaningful gift after you die. They break down the ins and outs of revocable and irrevocable trusts, as well as how irrevocable trusts can be tax instruments for the wealthy.

They break down the regulations of how the trust interacts with qualifications for Medicaid, as well as the difference between income versus principal, in terms of funds within the trust. Joe details the provisions of an asset protection trust and recommends what to include in an irrevocable trust and what not to include.[/vc_column_text][/vc_column][/vc_row]

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Attorney-CPA Joe Cordell and co-host Susan Arthur break down the significance of putting safeguards in place in your powers of attorney or trusts, in order to protect financial assets. They explain how they protect the asset’s overall well-being and how the failure to do so can leave the asset vulnerable in the case of an emergency.

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Attorney-CPA Joe Cordell explains many of the misconceptions regarding trusts and details how they can be utilized to help protect a person’s assets regardless of their economic standing.