Ask Terry Questions Estate Planning Webinar

Estate Planning Webinar

By Terry Savage on October 14, 2022 | Financial Planning / Retirement

I watched the AARP Estate Planning program on 10/14/2022. Why did you not mention a financial power of attorney as one of the essential documents? Even if one places all assets in a revocable living trust with a successor trustee, as you point out, IRAs will not be in the RLT. If the owner becomes incapacitated, someone may need to make investment changes or withdrawals from the IRA. Isn’t a financial POA essential for this?
Thanks so much for your informative program!

Terry Says

Yes, a springing financial power of attorney could be important if you have substantial assets outside your Revocable Living Trust. I probably should have mentioned that.

For those who did not see the Webinar, it is posted on my website here:
https://www.terrysavage.com/wp-content/uploads/2022/10/Terry-Talks-Wills-Trusts-Estate-Planning.mp4

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