Putting Property in Your Living Trust (Trust Funding)
The process of putting your property into your Living Trust is called “funding” The process of putting your property into your Living Trust is called “funding”. To be vaild, a Trust must be funded. If your Trust is not funded, it is invalid. If you become incapacitated or die before you transfer property to the Trust, your heirs (family) will need to go to Probate Court to have a Judge determine if the Trust is valid. You can avoid this mess if you fund your trust.Learn about trust funding by listening to this blog post radio show or visit GQ Law for a free...
Read MoreGQ ON The LAW – Special Needs Trust, Power of Attorney, Guardianship
GQ on the law explains Special Needs Trusts, Powers of Attorney, and Guardianship. Special needs trusts are required if a beneficiary receives any type of government assistance due to disability, incapacity, or special needs. Without a Special Needs Trust, the special needs beneficiary could forfeit any government assistance for medical care or other support. In this show Gary Quackenbush explains ways to create and use a Special needs Trust. GQ...
Read MoreHealth Care Directives, Living Wills, Guardian Nomination, Putting assets into Trust
If you can’t speak for yourself, you will need a Health Care Directive to appoint someone to speak on your behalf regarding healthcare, life support, and organ donation decisions. GQ LAW and Marty Schneider have a lively discussion on their live radio show covering this importatn estate planning topic. Minor children need to have a Guardian nominated to prevent them from being placed in the foster child system if they lose both parents. A Guardian nomination is a simple but very important document to have in your Family Protection binder. Gary Quackenbush GQ...
Read MoreIRA Conduit’s and Living Trusts. Word on Wealth Radio show discusses IRAs, Living Trusts, Estate Planning
Having your IRA or 401k handled by your Living Trust requires special trust language. The average Living Trust or Family Trust can not handle retirement money properly and could cause accelerated income taxation if not prepared properly. If prepared properly, your Trust can safely distribute inherited retirement accounts to your beneficiaries on your terms and yet avoid accelerated taxation. This radio show “Word on Wealth” with Marty Schneider, CFP, and Gary Quackenbush, Attorney, frankly discusses IRA and 401k inheritance issues. For more information go to...
Read MoreDigital Transformation: Transforming Business Models
Digital Transformation: Transforming Business Models A third, and perhaps the most noteworthy aspect of an organization’s digital transformation, is the transformation of it’s business model. The digital world has allowed, and oftentimes necessitates, the complete reformation of the way a business makes money and goes to market. Capgemini Consulting and MIT offer two notable ways this occurs. Digitally-modified Businesses (i.e. sustaining innovations) A digitally modified business is one that adopts technologies or innovations that add to their current product or...
Read MoreDigital Transformation: Transforming Operational Processes
Digital Transformation: Transforming Operational Processes While transforming the customer experience will affect heavily what’s going on outside of the walls of the office, transforming operational processes will completely change the way you work. This can be accomplished in three main ways, as taught by MIT and Capgemini researchers. Process Digitization One of the key improvements technology can make in an organization is getting rid of repetition. Many repetitive tasks can now be automated with software, robotics or other means. The goal should be, if I have (or someone...
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