Author: Stephen Reh MBA CFA® CFP®

Power of Attorney and Potential Estate Planning Issues

Power of Attorney and Potential Estate Planning Issue First, I want to thank Greg Phelps for inviting me to write another article on RetireWire. Last time, we discussed the importance of funding your trust and discussed our Asset Transfer Pyramid. There is an important “feature” or power that is important for a Power of Attorney to incorporate. It’s simply the power for the agent to name your trust as the beneficiary. As a reminder, here is our pyramid of how an asset is transferred:     In general, most people have a goal of avoiding probate with the assets they own. That’s...

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Living Trusts – common problem solved! Please fund your trust

Living Trusts – common problem solved! Please fund your trust I want to thank Greg Phelps for inviting me to discuss Living Trusts and a critical, but all too often overlooked, area of estate planning. That aspect is the failure to actually fund a living trust you’ve created. Creating a Living Trust – but failing to properly fund it – would be similar to: Running a marathon and stopping 3 feet short of the finish line. Neglecting to file the paperwork to get your diploma after completing the required college coursework. Leaving your brand new car on the dealership lot...

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