How To Set Up a Common Law Trust with Howard Hinman, Paralegal

Design your legacy with confidence at www.designurlegacy.com/sessions. Are you ready to shape your legacy based on your values? - Most entrepreneurs don’t know about trusts, and if they do, it's with very limited knowledge. But if you want design generational wealth so your grandchildren will thank you, you need to set aside time to learn about a variety of trusts to implement them correctly and set it up right from the start. Whether you inherit wealth or are one of the 2/3’s of today’s affluent that are self-made, do you know what makes for a great trustee, indenture or general manager? If you’re not careful, you could end up from rags to riches and back to rags again – wasting both time and energy in the development of your holistic legacy planning. In this week’s episode, Angelina Carleton speaks with paralegal Howard Hinman about the differences between statutory and common law, private trusts. You’ll learn how to determine which trust officer should take on a leadership role, why three trustees are better than two, and why EQ is still more important than IQ, even in the business of trusts. If you’re tired of being left out of the conversations of how to structure real generational wealth, this introductory episode is for you! - The subject of Trusts is complex and mysterious. An ancient system used to pass wealth has gone through a metamorphosis that only time can produce. Despite this, though, the basics of setting up assets for Beneficiaries remains. Keeping this one thought in mind, the variety of ways to do this becomes simpler, and the complexity drops away. In reality, the average person with a high school education can understand the basic concept of a Trust. Within this knowledge is the art of wealth build-up and management–a subject that everyone should know, at least at a working level. Learn more at https://passingbucks.com/main/why-are-we-doing-this/. This podcast episode is not intended to be legal advice. - Transform overwhelming legacy planning into a fulfilling journey with our 6 or 12-month Coaching Partnership. Experience tailored guidance as you set and track your personal development metrics, ensure accountability, and collaboratively build your holistic legacy. Your path to safeguarding a meaningful future begins now. Invest in your legacy; schedule your personal coaching session today at www.designurlegacy.com! If you’re not a client yet, here’s your invitation to schedule your consultation and book your first session online today. We work with entrepreneurs of high humility and work ethic, family office executives, family business members, trustees of charitable estates and those participating in family foundations, etc. Book your session at www.designurlegacy.com. #legacycapital #intellectualcapital #humancapitalBecome a supporter of this podcast: https://www.spreaker.com/podcast/design-your-legacy-life-lessons--6631446/support.