Using Trusts To Protect Your Wealth

Like most of my elite clients, you’re probably on a journey to building generational wealth because you want to make an impact on those around you: your family, your community, and the causes you care about.Today I’m talking about some wills, trusts, and other resources you can put in place to protect your wealth and legacy against potential lawsuits, fees, and even taxes after you’re gone.As uncomfortable as these conversations can be since they involve the idea of dying, they’re a priority that you shouldn’t postpone. In the end, it’s going to be less painful to have them now than to have your family deal with these questions after.Understanding and learning to handle them is an act of love, of protection, of making it easier for everyone around you. I want your legacy to live well beyond your years. I want to see you strive to live a life that outlives you.Disclaimer: This podcast is for educational purposes only and doesn’t constitute financial advice. Please reach out to a financial and legal advisor based on your location, your circumstances, and your assets in the country you live in.IN TODAY’S EPISODE I DISCUSS:The difference between a will and a trust and the importance of each oneParties of a will: executor, guardian, and beneficiariesThe two types of trusts: revocable and irrevocableParties of a trust: grantor, trustee, and beneficiaryThe yearly refresh you need to do with your documentsTAKE THE FINANCIAL LIBERATION ASSESSMENT:Take this free assessment to see where you are on the path to financial freedom and what your next steps are to move you to a new financial destiny at http://www.YourFinancialFreedomQuiz.com  OTHER RESOURCES:7-Day Money Plan Workshop: https://www.TheMoneyPlanWorkshop.comAffluent Entrepreneurs Private Facebook Group https://www.melabraham.com/group/CONNECT WITH ME:Website: MelAbraham.comYouTube: MelAbraham.com/tube/Instagram (@melabraham9): MelAbraham.com/ig/Facebook Group: MelAbraham.com/group/TikTok: https://www.tiktok.com/@melhabrahamGET MY BOOK:“The Entrepreneur's Solution The Modern Millionaire's Path to More Profit, Fans, & Freedom” - melabraham.com/book/