What will happen to your assets when you die?

March 28, 2018

Peak Prosperity

In the same vein of our recent "news you can use" articles on umbrella insurance and the TreasuryDirect program, today we focus on two important (and under-utilized) estate planning tools: wills and living trusts.

Wills and living trusts make sense for those who are married, have children, own real estate, have financial or other material assets, and/or wish to influence how their estate is distributed after their death. I'm guessing the vast majority of folks reading this fall into at least one of these categories.

Yes, this is morbid territory to tread into. But it's important.

A few months ago, right after I published What Really Matters, a good friend died suddenly of a heart attack at age 42. There was no warning. He was a former college athlete, still-fit, and died on the basketball court during his weekly practice. He left behind a wife and three children, one with life-long special needs.

Fortunately, my friend was a lawyer, and had practiced what he preached professionally. He had put a well-constructed estate plan in place while alive (along with a healthy life insurance policy).

I saw first-hand the great benefits this gave his family upon his sudden passing. They were able to fully focus on dealing with their grief, as the estate plan largely took care of all the legal and financial details in the background.

If you've had an immediate family member or close friend pass away, you're likely aware of the tremendous number of tasks and decisions that need to be dealt with when someone dies. Aside from the obvious treatment of their remains and funerary arrangements, the deceased's estate needs to be settled.

This means an executor needs to be appointed who will manage the process, creditors need to be paid as will any estate taxes, heirs need to be identified and assets distributed among them (which in many cases requires selling/disposition of these assets first), care for minor children needs to be arranged, etc. This process is oftentimes managed by the state (i.e., slowly and often inefficiently).

This is an awful lot to put a surviving spouse through (assuming there is one) during a time of extreme grief. The same goes for children.

And this burden gets compounded if there's no estate plan in place. What assets did the deceased own? Where are they? Whom did he/she want to inherit them? All of these questions need to be answered during the estate settlement process.

Imagine trying to untangle all this right after your spouse, parent, sibling or friend has died. When you're already emotionally traumatized.

Now imagine that the heirs involved don't agree on how the estate should be divided, and infighting ensues. Relationships can easily get permanently damaged and money quickly drained should expensive lawyers get involved to contest the matter. The situation often gets very ugly, very quickly. (Click here for a sampling of horror stories resulting from when folks died without a will.)

Why risk putting your loved ones through this? Especially when it's so easily avoidable, and relatively inexpensive to do so?

Look, every one of us is going to die. That's the only rock-solid guarantee we're given during our time on Earth.

You've worked hard your whole life to take care of those important to you. Don't drop the ball on the 1-yard line. Take care of them in your death, too.

Wills & Living Trusts

The bedrock of a good estate plan involves a will and a living trust. I'll explain the role of each, the differences between the two, and the wisdom of having both.

NOTE: What follows is a summarization. While wills and living trusts are fairly simple conceptually, there are lots of special cases. Many of those are not addressed below so as not to prevent this article from becoming densely encyclopedic. Also, I am not a lawyer -- meaning: take this synopsis as education, not personal legal advice. If you want that, consult an estate lawyer.

OK, with that out of the way, let's proceed.

Will

Most folks are familiar with the concept of a will. Every murder mystery usually has a scene where the family gathers at the lawyer's office to hear the reading of the late victim's will: "Being of sound mind, I hereby bequeath to my nephew, Chauncey, my collection of rare Amazonian butterflies..."

Simply put, a will is a legal document that specifies:

how you want your assets distributed upon your death,

whom you grant the power to oversee that distribution (i.e., your "executor"), and

whom you want to have guardianship of your minor children, should there be any

Sounds like something every responsible adult should have, right? I agree.

But amazingly, 63% of US adults do not have a will. And an additional 9% have a will that's no longer up to date. Even among the more affluent, 45% do not have a will.

So those ugly issues I mentioned above of what can happen when you die without a will? They're very real and actually happen a lot.

Which is criminal, as a will is a straightforward document that shouldn't cost you more than a few hundred dollars (at most) and a few days to create (I'll give more specifics on the will creation process in Part 2). There really aren't any good reasons why the vast majority of us, especially those with minor children, shouldn't have one.

The key downside to note with a will is that it's subject to probate. Probate is the judicial process that determines the validity of the deceased's will. None of the instructions laid out in your will can be undertaken until a court accepts its validity and "grants probate" to your specified executor.

Probate isn't much fun. It takes time: typically a few months, but it can last years in certain cases. It can be costly: expect to pay somewhere between 3-8% of your estate's assets in combined attorney, court and other fees.

Probate can be challenging for real estate, especially investment properties. Until these assets have passed probate, your heirs (including your spouse) cannot manage or dispose of them. They're locked in limbo, which can get quite inconvenient if the probate period stretches for many months or years.

It's also a public process. During the probate period, your will is made available upon request to anyone who asks for it. So the details of your estate and your disposition wishes are not kept private. And your will can be challenged in court during this time by anyone who feels they have a valid claim on your assets.

Which brings us to Living Trusts...

Living Trusts

A trust is a legal arrangement in which one or more people manage or take care of property for someone else's benefit.

There are several major benefits you can enjoy by placing your assets into a trust to manage them while you're alive (that's why it's called a "living" trust). One of them is avoiding probate upon your death.

Once your assets have been placed inside a living trust, they're managed by its Trustees on behalf of clearly-specified Beneficiaries. So with ownership transfer, executorship and distribution are already worked out -- the probate court doesn't need to get involved.

For most couples, this allows the surviving partner to retain seamless control of all Trust assets after the other dies. The assets don't go through the probate process, there are far less fees involved, and the process is private. (The estate still can be contested, though. But the details of the estate's assets don't have to be made available to the public upon request.)

Avoiding probate is just one of the advantages offered by living trusts.

Another big one is (potentially) reducing estate taxes. I'll spare you the wonky details for now, but there are ways for your trust to take advantage of deductions and credits that may materially reduce the estate tax liability on your wealth after you and/or your surviving spouse die. Any estate lawyer or tax accountant worth their salt can walk you through the details.

Your living trust will also enable you to control how your assets flow to your heirs. If you have minor children, most states won't let them own property directly while they're 17 or younger. And if you're passing along a substantial amount of wealth, giving it to all to them at age 18 in a lump sum is a bad idea (unless you want the inheritance squandered in an epic blast of debauchery).

Via your trust, you can specify how you want your assets (and any associated income from them) to be meted out to each heir over time -- based on age milestones, financial need, use (e.g., education), mental competency, or any other conditions important to you.

Similarly, a living trust is helpful in keeping your assets managed the way you want should you become incapacitated (i.e., still living, but not able to mentally or physically manage your affairs). For many of us, living too long may become the bigger risk to our estate vs dying too soon.

Last, the most common form of living Trust is amendable throughout your life. You can change it at anytime, as often as you like. Or you can dissolve it altogether. The bottom line is, you're in full control over everything while you're alive (and mentally competent).

Getting Started

OK, as a refresher:

A will is a good idea for pretty much everyone. But it's especially important for people with minor children. A trust does not specify legal guardianship in the event of your death. Only a will does that.

A living trust makes sense for anyone with assets and heirs (especially your spouse) they want to pass their wealth along to. Some experts say living trusts make sense if you expect your estate to be worth over $150,000; others go as low as $20,000.

The cost to set these up is pretty trivial compared to the huge benefits they can offer your loved ones. A will costs a few hundred bucks (or less) to set up and can be completed in a matter of days (or less). A living trust will range between several hundred and a few thousand dollars, depending on how sizable/complicated your estate is.

In Part 2: A Primer On The Essentials For Your Will & Living Trust, we walk through in detail the principal legal elements that your will and living trust should address. This includes specific clauses your documents should contain (unless advised otherwise by a professional), as well as helpful context for the most common decisions folks will face when creating/updating these legal vehicles.

If you don't yet have a will and/or a living trust, or it's been a while since you've reviewed the ones you have, read on. Your loved ones will be glad you did.

Click here to read Part 2 of this report (free executive summary, enrollment required for full access)

EXPOSED: Your tax dollars FUND Marxist riots in LA

Anadolu / Contributor | Getty Images

Protesters wore Che shirts, waved foreign flags, and chanted Marxist slogans — but corporate media still peddles the ‘spontaneous outrage’ narrative.

I sat in front of the television this weekend, watching the glittering spectacle of corporate media do what it does best: tell me not to believe my lying eyes.

According to the polished news anchors, what I was witnessing in Los Angeles was “mostly peaceful protests.” They said it with all the earnest gravitas of someone reading a bedtime story, while behind them the streets looked like a deleted scene from “Mad Max.” Federal agents dodged concrete slabs as if it were an Olympic sport. A man in a Che Guevara crop top tried to set a police car on fire. Dumpster fires lit the night sky like some sort of postapocalyptic luau.

If you suggest that violent criminals should be deported or imprisoned, you’re painted as the extremist.

But sure, it was peaceful. Tear gas clouds and Molotov cocktails are apparently the incense and candles of this new civic religion.

The media expects us to play along — to nod solemnly while cities burn and to call it “activism.”

Let’s call this what it is: delusion.

Another ‘peaceful’ riot

If the Titanic “mostly floated” and the Hindenburg “mostly flew,” then yes, the latest L.A. riots are “mostly peaceful.” But history tends to care about those tiny details at the end — like icebergs and explosions.

The coverage was full of phrases like “spontaneous,” “grassroots,” and “organic,” as if these protests materialized from thin air. But many of the signs and banners looked like they’d been run off at ComradesKinkos.com — crisp print jobs with slogans promoting socialism, communism, and various anti-American regimes. Palestinian flags waved beside banners from Mexico, Venezuela, Cuba, and El Salvador. It was like someone looted a United Nations souvenir shop and turned it into a revolution starter pack.

And guess who funded it? You did.

According to at least one report, much of this so-called spontaneous rage fest was paid for with your tax dollars. Tens of millions of dollars from the Biden administration ensured your paycheck funded Trotsky cosplayers chucking firebombs at local coffee shops.

The same aging radicals from the 1970s — now armed with tenure, pensions, and book deals — are cheering from the sidelines, waxing poetic about how burning a squad car is “liberation.” These are the same folks who once wore tie-dye and flew to help guerrilla fighters and now applaud chaos under the banner of “progress.”

This is not progress. It is not protest. It’s certainly not justice or peace.

It’s an attempt to dismantle the American system — and if you dare say that out loud, you’re labeled a bigot, a fascist, or, worst of all, someone who notices reality.

And what sparked this taxpayer-funded riot? Enforcement against illegal immigrants — many of whom, according to official arrest records, are repeat violent offenders. These are not the “dreamers” or the huddled masses yearning to breathe free. These are criminals with long, violent rap sheets — allowed to remain free by a broken system that prioritizes ideology over public safety.

Photo by Kyle Grillot/Bloomberg | Getty Images

This is what people are rioting over — not the mistreatment of the innocent, but the arrest of the guilty. And in California, that’s apparently a cause for outrage.

The average American, according to Los Angeles Mayor Karen Bass, is supposed to worry they’ll be next. But unless you’re in the habit of assaulting people, smuggling, or firing guns into people’s homes, you probably don’t have much to fear.

Still, if you suggest that violent criminals should be deported or imprisoned, you’re painted as the extremist.

The left has lost it

This is what happens when a culture loses its grip on reality. We begin to call arson “art,” lawlessness “liberation,” and criminals “community members.” We burn the good and excuse the evil — all while the media insists it’s just “vibes.”

But it’s not just vibes. It’s violence, paid for by you, endorsed by your elected officials, and whitewashed by newsrooms with more concern for hair and lighting than for truth.

This isn’t activism. This is anarchism. And Democratic politicians are fueling the flame.

This article originally appeared on TheBlaze.com.

Glenn Beck's 'No King but Christ' merch: Will faith STOP the chaos?

On Saturday, June 14, 2025 (President Trump's 79th birthday), the "No Kings" protest—a noisy spectacle orchestrated by progressive heavyweights like Randi Weingarten and her union cronies—will take place in Washington, D.C.

Thousands will chant "no thrones, no crowns, no king," claiming to fend off authoritarianism and corruption.

But let’s cut through the noise. The protesters' grievances—rigged courts, deported citizens, slashed services—are a house of cards. Zero Americans have been deported, Federal services are still bloated, and if anyone is rigging the courts, it's the Left. So why rally now, especially with riots already flaring in L.A.?

Chaos isn’t a side effect here—it’s the plan.

This is not about liberty; it's a power grab dressed up as resistance. The "No Kings" crowd wants you to buy their script: government’s the enemy—unless they’re the ones running it. It's the identical script from 2020: same groups, same tactics, same goal, different name.

But Glenn is flipping the script. He's dropping a new "No Kings but Christ" merch line, just in time for the protest. Merch that proclaims one truth: no earthly ruler owns us; only Christ does. It’s a bold, faith-rooted rejection of this secular circus.

Why should you care? Because this won’t just be a rally—it’ll be a symptom. Distrust in institutions is sky-high, and rightly so, but the "No Kings" answer is a hollow shout into the void. Glenn’s merch begs the question: if you’re ditching kings, who’s really in charge? Get yours and wear the answer proudly.

Truth unleashed: 95% say media’s excuses for anti-Semitism are a LIE

ELI IMADALI / Contributor | Getty Images

Glenn asked for YOUR take on the rising tide of anti-Semitism, and you delivered. After the Boulder attack, you made it clear: this isn’t just a news story—it’s a crisis the elites are dodging.

Your verdict is unmistakable: 96% of you see anti-Semitism as a growing threat in the U.S., brushing aside the establishment’s weak excuses. The spin does not fool you—95% say the media is deliberately downplaying the issue, hiding a cultural rot that’s all too real. And the government’s response? A whopping 95% of you call it a disgraceful failure, leaving communities exposed.

Your voices shatter the silence. Why should we trust narratives that dismiss your concerns? With 97% of you warning that anti-Semitism will surge in the years ahead, you’re demanding action and accountability. This is your stand for truth.

You spoke, and Glenn listened. Your bold response sends a message to those who’d rather ignore the problem. Keep raising your voice at Glennbeck.com—your input drives the fight for justice. Take part in the next poll and continue shaping the conversation.

Want to make your voice heard? Check out more polls HERE.

JPMorgan Chase CEO issues dire warning about America's prosperity

Win McNamee / Staff | Getty Images

Jamie Dimon has a grim forecast for America — and it’s not a recession. He sees a fragile nation drifting into crisis while its leaders fight over TikTok.

Jamie Dimon, CEO of JPMorgan Chase — one of the most powerful financial institutions on earth — issued a warning the other day. But it wasn’t about interest rates, crypto, or monetary policy.

Speaking at the Reagan National Defense Forum in California, Dimon pivoted from economic talking points to something far more urgent: the fragile state of America’s physical preparedness.

We are living in a moment of stunning fragility — culturally, economically, and militarily. It means we can no longer afford to confuse digital distractions with real resilience.

“We shouldn’t be stockpiling Bitcoin,” Dimon said. “We should be stockpiling guns, tanks, planes, drones, and rare earths. We know we need to do it. It’s not a mystery.”

He cited internal Pentagon assessments showing that if war were to break out in the South China Sea, the United States has only enough precision-guided missiles for seven days of sustained conflict.

Seven days — that’s the gap between deterrence and desperation.

This wasn’t a forecast about inflation or a hedge against market volatility. It was a blunt assessment from a man whose words typically move markets.

“America is the global hegemon,” Dimon continued, “and the free world wants us to be strong.” But he warned that Americans have been lulled into “a false sense of security,” made complacent by years of peacetime prosperity, outsourcing, and digital convenience:

We need to build a permanent, long-term, realistic strategy for the future of America — economic growth, fiscal policy, industrial policy, foreign policy. We need to educate our citizens. We need to take control of our economic destiny.

This isn’t a partisan appeal — it’s a sobering wake-up call. Because our economy and military readiness are not separate issues. They are deeply intertwined.

Dimon isn’t alone in raising concerns. Former Google CEO Eric Schmidt has warned that China has already overtaken the U.S. in key defense technologies — hypersonic missiles, quantum computing, and artificial intelligence to mention a few. Retired military leaders continue to highlight our shrinking shipyards and dwindling defense manufacturing base.

Even the dollar, once assumed untouchable, is under pressure as BRICS nations work to undermine its global dominance. Dimon, notably, has said this effort could succeed if the U.S. continues down its current path.

So what does this all mean?

Christopher Furlong / Staff | Getty Images

It means we are living in a moment of stunning fragility — culturally, economically, and militarily. It means we can no longer afford to confuse digital distractions with real resilience.

It means the future belongs to nations that understand something we’ve forgotten: Strength isn’t built on slogans or algorithms. It’s built on steel, energy, sovereignty, and trust.

And at the core of that trust is you, the citizen. Not the influencer. Not the bureaucrat. Not the lobbyist. At the core is the ordinary man or woman who understands that freedom, safety, and prosperity require more than passive consumption. They require courage, clarity, and conviction.

We need to stop assuming someone else will fix it. The next crisis — whether military, economic, or cyber — will not politely pause for our political dysfunction to sort itself out. It will demand leadership, unity, and grit.

And that begins with looking reality in the eye. We need to stop talking about things that don’t matter and cut to the chase: The U.S. is in a dangerously fragile position, and it’s time to rebuild and refortify — from the inside out.