For the second podcast, I have prepared a thirteen step overview of settling an estate in case you ever get asked to be someone’s executor of estate (or, if your prefer the modern term, personal representative). The probate process is a creature of state law that is mostly governed by each state’s statute, so it’s not an exaggeration to say that every state is different–the steps of administering an estate in California will have way different requirements than Texas. Still, there are general steps that are generally followed in all states, and I provided a twenty minute overview of what the process entails if you’re interested in getting the lay of the land for administering someone’s estate.
I’m excited about launching these new podcasts through Youtube because it gives me a chance to cover a lot of topics that I probably wouldn’t get to if I stuck with the written form. For instance, I have some discussions planned about the embedded capital gains in some long-life S&P 500 index funds that create these weird potential tax quirks in the event that there is a large exodus from the fund–you could theoretically be paying the taxes on gains the guy before you received.
I also want to talk about the continued dilution of 4th Amendment protections regarding bank transactions such that the bank really isn’t your friend when it comes to the search for mischief on your part–I’ve never seen a robust discussion on the various circumstances that can lead banks to disclose information about your account to third parties including the government, and that is something else I plan on publishing.
I also want to talk about the growing trend of quiet trusts, a New Hampshire invention that is permitting wealthy families to hide assets for purposes of receiving need-based financial aid from colleges and universities–they’re the latest chapter in the efforts to frustrate efforts to give opportunities to those that endured through childhood without resources. That said, I don’t blame parents for trying to figure out the contours of these lines in an effort to advance their kids’ interests, as the biological drive to nurture child is one of the few universals among humanity.
In the next week or so, I promise I’ll be upgrading beyond my current $3 microphone for improved audio, so thank you for your patience in bearing with me. I might even get a $20 one–a 700% premium, but hey, I think you guys are worth it. 😉
Thanks for reading.
Notice: This article, which I believe may be of interest to readers, is for general information and entertainment purposes only. It only reflects my best understanding of the topic at hand and should not be relied upon as legal or investment advice.
Originally posted 2016-06-11 03:46:09.