Childfree Wealth’s Post

If you're a planning professional, your goal is to safeguard your clients' assets and ensuring their future and loved ones are well-provided for. A spendthrift trust is a powerful tool in achieving these goals, especially for beneficiaries who may struggle with financial management. Key Benefits of Spendthrift Trusts: ✅ Financial Protection: Shields beneficiaries from poor financial decisions. ✅ Creditor Safeguard: Prevents creditors from accessing trust assets. ✅ Structured Distributions: Ensures long-term financial security with customized distributions. ✅ Support for Vulnerable Beneficiaries: Ideal for minors, young adults, and those with financial struggles or addiction issues. By restricting heirs' access to inheritance money, a spendthrift trust can limit the spending of the trust assets, protect one's legacy, and provide greater financial security in the long run. Read more in my recent article here: https://buff.ly/3XwZZrO Legacy Planning Law Group is here to help your Florida clients achieve financial security long after they are gone. Schedule a call if we can be of service: https://buff.ly/3OnQciN #LegacyPlanningLawGroup #Jacksonville #estateplanning #financialplanning

Ensure your loved ones are financially protected, even when you're not around. At Wright & Lord Financial Services, we know how crucial it is to secure your family’s future. Let us help you plan for peace of mind. 📞 Call us today: 01524 405855 - - #WrightAndLordFinancialServices #Morecambe #Lancaster #TaxPlanning #Cumbria #FinancialServices

Discover the intricacies of beneficiary designations and safeguard your assets effectively by reading our latest Caissa Wealth Strategies blog post. #WealthStrategies #BeneficiaryDesignations #CAISSA

Today, there are some powerful – and surprising – ways to help protect your family financially. Learn about some of the benefits of a trust. #TheHGRFGroup #PurposeDrivenWealth

April is Financial Literacy Month, and today, I'd like to introduce you to: 𝗣𝗢𝗗 𝗕𝗮𝗻𝗸 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝘀 𝗪𝗵𝘆? This week, I worked with a client named the POD beneficiary on a deceased parent's account. Knowing they have access to cash when the death certificate is presented at the bank makes life much easier. 𝗪𝗵𝗮𝘁 𝗱𝗼𝗲𝘀 𝗣𝗢𝗗 𝘀𝘁𝗮𝗻𝗱 𝗳𝗼𝗿? It's a 𝘗𝘢𝘺𝘢𝘣𝘭𝘦 𝘰𝘯 𝘋𝘦𝘢𝘵𝘩 𝘈𝘤𝘤𝘰𝘶𝘯𝘵, often overlooked in estate planning. This type of account allows you to name one (or more) beneficiaries to receive money after you pass. 𝗧𝘆𝗽𝗲𝘀 𝗼𝗳 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝘀 𝘁𝗵𝗮𝘁 𝗰𝗮𝗻 𝗯𝗲 𝗣𝗢𝗗 𝗮𝗰𝗰𝗼𝘂𝗻𝘁𝘀: 1) Checking 2) Savings 3) Certificates of Deposit (CD) 𝗕𝗲𝗻𝗲𝗳𝗶𝘁𝘀 𝗼𝗳 𝗣𝗢𝗗 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝘀: 1) Money doesn't get tied up in a lengthy probate process (i.e., it may be used to cover funeral costs) 2) Accounts are (usually) free to set up at your bank 3) They (generally) do not require an attorney to establish 𝗖𝗼𝗻𝘀 𝗼𝗳 𝗣𝗢𝗗 𝗔𝗰𝗰𝗼𝘂𝗻𝘁𝘀: 1) POD account beneficiaries take precedence over beneficiaries in your will 2) High net-worth individuals who use various trust vehicles (credit shelter, generation-skipping, etc.) can diminish tax advantages for heirs using POD accounts 3) They are not a substitute for a living will You can learn more about POD accounts by contacting your local bank or sending me a direct message. Was this information helpful? Please tell me in the comments! **𝘈𝘴 𝘢𝘭𝘸𝘢𝘺𝘴, 𝘵𝘩𝘪𝘴 𝘪𝘯𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘰𝘯 𝘪𝘴 𝘪𝘯𝘵𝘦𝘯𝘥𝘦𝘥 𝘵𝘰 𝘣𝘦 𝘦𝘥𝘶𝘤𝘢𝘵𝘪𝘰𝘯𝘢𝘭 𝘢𝘯𝘥 𝘯𝘰𝘵 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵, 𝘭𝘦𝘨𝘢𝘭, 𝘰𝘳 𝘵𝘢𝘹 𝘢𝘥𝘷𝘪𝘤𝘦. 𝘊𝘰𝘯𝘴𝘶𝘭𝘵 𝘸𝘪𝘵𝘩 𝘺𝘰𝘶𝘳 𝘧𝘪𝘯𝘢𝘯𝘤𝘪𝘢𝘭 𝘱𝘳𝘰𝘧𝘦𝘴𝘴𝘪𝘰𝘯𝘢𝘭 𝘵𝘰 𝘦𝘯𝘴𝘶𝘳𝘦 𝘺𝘰𝘶𝘳 𝘧𝘪𝘯𝘢𝘯𝘤𝘪𝘢𝘭 𝘢𝘧𝘧𝘢𝘪𝘳𝘴 𝘢𝘳𝘦 𝘴𝘦𝘵 𝘶𝘱 𝘵𝘰 𝘣𝘦𝘯𝘦𝘧𝘪𝘵 𝘺𝘰𝘶𝘳 𝘴𝘪𝘵𝘶𝘢𝘵𝘪𝘰𝘯.** #financialliteracymonth #estateplanning #financialplanning #womenandwealth #herwealthcoach #payableondeath #POD #wealthmanagement #financialplanningstrategies

When AFH client Laura Stewart received the devastating news that she had less than 12 months to live, although positive about her prognosis, she wanted to do everything she could to ensure her family’s finances would be secure after she passed away.  Fortunately, regular annual reviews with her financial adviser, Nathan Trowbridge, meant that she was able to change her plans swiftly to take account of her considerable change in circumstances. #afhwealth #clientfocus #clientfirst #financialplanning

When AFH client Laura Stewart received the devastating news that she had less than 12 months to live, although positive about her prognosis, she wanted to do everything she could to ensure her family’s finances would be secure after she passed away.  Fortunately, regular annual reviews with her financial adviser, Nathan Trowbridge, meant that she was able to change her plans swiftly to take account of her considerable change in circumstances. #afhwealth #clientfocus #clientfirst #financialplanning

Can Beneficiary Designations Put Your Family at Risk ? You've worked hard to build your assets and secure your family's future. But did you know that relying solely on beneficiary designations can expose your loved ones to significant risks? 🤔 This week's blog dives into why naming beneficiaries isn't enough and how proper estate planning can protect your family's financial future. Don't leave things to chance—learn how to safeguard your legacy. 💼🏠 🔗 Read the full blog here https://bit.ly/3AxnO9t #EstatePlanning #FinancialSecurity #ProtectYourLegacy #BCcounselorsatlaw #BeneficiaryDesignations

Are you familiar with Trust plans? They are financial tools commonly used to solve various issues, from protecting #wealth to ensuring smooth transitions after one’s passing. Trusts are crucial for individuals who need to manage the inheritance or support of minors or dependents who might not be capable of handling financial matters on their own. A #trust can be set up to provide for the welfare of these dependents under the terms specified by the grantor (the person who creates the trust). This can include stipulations on how money is going to be spent (e.g., education, health care, living expenses), and at what age beneficiaries gain control over their inheritances. Trust plans are versatile and can benefit individuals and families across a wide range of economic levels and net worth. Would you like to schedule a free consultation with us? We can discuss your individual requirements and offer tailored solutions. 📩 info@truststvincent.com --- Hi! We are St. Vincent Trust & Escrow We provide insights on: ▪ Offshore Financial Services in Saint Vincent and the Grenadines. ▪ Asset Protection and Wealth Management Strategies. ▪ Opportunities for Business Incorporation and Growth in SVG. Stay tuned 👉 Follow us! 🔄 Repost and empower your network with knowledge! #finance #estateplanning #trustplanning #wealthmanagement

When you become a parent, your world changes and your priority becomes to protect your children. Estate planning can help you set up a trust for your children to receive any assets or inheritance you leave behind. This can provide financial security for your children and ensure that the assets are managed and distributed in a way that aligns with your wishes. It can also protect your children should your partner remarry. If you're looking for a trusted and reliable team to help guide you through estate planning, give our award-winning advisers a call on 0800 009 6494. #futureplanning #willwriting #willwritingservice #estateplanning #trusts #LPA