Shows
Trust Us: Estate Planning WisdomThe Rules of IntestacyIn this episode of the Trust Us podcast, hosts Danielle Friedman, Herb Fineburg, and Charles "Max" McCauley III dive into the complex world of intestacy—the laws that govern the distribution of assets when someone passes away without a will.From common misconceptions about how assets pass to surviving spouses and children, to the unexpected complications of business succession and guardianship of minors, this episode unpacks the consequences of intestacy. Learn why not having a will can lead to costly legal battles, family disputes, and unintended tax burdens.Whether you're married, have children, own a bu...2024-11-1825 minTrust Us: Estate Planning WisdomTrusts vs. Prenups – Why Trusts Provide Better Asset Protection feat. Joseph ArmstrongIn this episode of "Trust Us: Estate Planning Wisdom," hosts Danielle Friedman, Herb Feinberg, and Charles Max McCauley, along with special guest Joe Armstrong, delve into the critical comparison between trusts and prenuptial agreements in protecting family assets.The hosts explore why trusts can be a stronger and more flexible alternative to prenuptial agreements, especially when planning for high-net-worth individuals and their children's marriages. They discuss how properly structured trusts can provide robust asset protection without the potential awkwardness or limitations of prenups. Key points covered include:The advantages of discretionary trusts over mandatory distribution provisionsHow...2024-09-2528 minTrust Us: Estate Planning WisdomThe Crucial Role of Irrevocable Trusts when Gifting Family Business InterestsIn Episode 4, through a compelling case study, hosts Danielle Friedman, Herb Fineburg, and Charles "Max" McCauley III explore the vital role of irrevocable trusts when gifting closely held family business interests for the benefit of children.A client gifted a mere 1.5% stake in his company to each of his three children without using irrevocable trusts, aiming to save on costs. When one child faced divorce unexpectedly, the divorce proceedings centered around this small 1.5% stake in the family business owned by the child. Further complications arose when that same child, who remarried, unexpectedly died, leaving his business interests...2024-06-1210 minTrust Us: Estate Planning WisdomHow Long Should a Trust Last?In Episode 3: "Transcript: How Long Should a Trust Last?" hosts Danielle Friedman, Herb Fineburg, and Charles "Max" McCauley III delve into the considerations and implications of establishing trusts, particularly regarding their duration. The discussion revolves around scenarios where trusts terminate at a specific age, leading to unintended consequences such as divorce settlements affecting trust assets. The hosts emphasize the importance of crafting trusts that endure for the beneficiary's lifetime, highlighting the benefits of protecting assets from creditors, divorce, and taxation. They stress the need for flexibility in trust documents to adapt to changing circumstances and advocate for dynasty trusts...2024-05-1319 minTrust Us: Estate Planning WisdomPassing Your Wealth to Your Children- How to Ensure Your Children Benefit from Your Hard WorkIn Episode 2, "Passing Your Wealth to Your Children: How to Ensure Your Children Benefit from Your Hard Work," hosts Danielle Friedman, Herb Fineburg, and Charles "Max" McCauley III, the complexities of estate planning through a poignant case study. Explore the repercussions of neglecting trusts in a $24 million estate, revealing how the absence of this vital component led to unintended consequences. Gain insights into the benefits of trusts, debunk common misconceptions, and discover the importance of comprehensive estate planning. Don't miss this episode for a concise guide to safeguarding your assets and securing your legacy. If y...2024-03-1209 minTrust Us: Estate Planning WisdomPreserving Your Trust: How to Preserve Trust Funds for CouplesIn Episode 1 of "Trust Us: Estate Planning Wisdom," hosts Danielle Friedman, Herb Fineburg, and Charles “Max” McCauley III focus on preserving trust funds for couples. They explore a case where parents established an irrevocable trust for their son, who now wishes to buy a home for his family with the trust's $450,000 in assets. The hosts discuss options, favoring the trust buying the house to ensure asset protection. They also consider the trust lending money to the couple, cautioning against making distributions that could deplete assets and make the house marital property. The episode concludes with a Q&A on join...2024-02-2306 min