What will happen to your assets when you die?

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)

SHOCKING: 11 states where Hunter Biden is accused of DISGUSTING crimes

Kris Connor / Contributor | Getty Images

Glenn has been calling on our leaders to do what they SHOULD have done a long time ago: hold Hunter Biden accountable for his BLATANT crimes.

Of which crimes is Hunter Biden being accused? From hiring prostitutes to smoking cocaine... LOTS of cocaine... here is a state-by-state list of ALL crimes committed by Hunter Biden. To read about each crime in detail, Glenn's "The Reckoning" guide lists ALL of Hunter Biden's crimes committed domestically and abroad alongside the alleged crimes of all the Biden family members, including Joe.

Glenn needs YOUR help to hold the "Biden crime family" accountable. Click HERE to download "The Reckoning" dossier of ALL of the crimes committed by the Biden family, send the dossier to your representative, and DEMAND they hold the Biden family accountable for their crimes.

In the meantime, here is a sneak peek of ALL of Hunter Biden's known sex and drug crimes committed within the U.S.

1. Arizona

Drug Crimes: One count.

2. California

Drug Crimes: 6 counts.

Sex Crimes: 20 counts.

3. Connecticut

Drug Crimes: 4 counts.

Sex Crimes: 11 counts.

4. Delaware

Drug Crimes: 9 counts.

Sex Crimes: 3 counts.

5. Florida

​​Drug Crimes: 1 count.

Sex Crimes: 1 count.

6. Massachusetts

Drug Crimes: 4 counts.

Sex Crimes: 4 counts.

7. Nevada

Drug Crimes: 1 count.

Sex Crimes: 2 counts.

8. New York

Drug Crimes: 2 counts.

Sex Crimes: 12 counts.

9. Tennessee

Drug Crimes: 1 count.

10. Texas

Sex Crimes: 1 count.

11. Virginia

Drug Crimes: 1 count.

It’s no secret that Glenn has a less-than-optimistic view of emerging AI and when you look at the horrifying new technologies that utilize the power of AI it’s hard not to agree.

Here’s a look at 7 new AI technologies that will HORRIFY you:

AI Brainwave Monitoring

Earlier this year during the World Economic Forum's annual meeting, Nita Robinson, a professor of law and philosophy at Duke, presented a video that depicted a “hypothetical” situation where a person's brainwaves are monitored by their earbuds, which have the ability to record brainwaves, decode them with AI, and then send brain reports to their boss and are accessible by government agencies. When the video ends, Robinson makes the terrifying announcement that this AI technology already exists! It's just a matter of time before it's implemented.

If you want to learn more about Brainwave tracking and the WEF, you can watch this clip from the Glenn Beck Program.

AI Voice Cloning

Last month, Glenn covered a terrifying story involving a scammer who created an AI clone of a child's voice in order to scam money out of her terrified parents. While this might sound advanced, a quick Google search reveals that this technology is remarkably accessible and is easily able to replicate the voice of anyone. Imagine the havoc that could be inflicted on your life with an AI clone of your voice.

AI Mind Reader

Left shows stories read to user and right shows what the AI was able to decode from users brain activity

Image credit: University of Texas at Austin

Like something out of Star Trek, a team of researchers at the University of Texas at Austin developed a new AI that is able to decode brain activity and produce a transcript of a person's thoughts with reasonable accuracy, all without the need for implants or other invasive measures. While the researchers assure us that the technology has major limitations, including the need to train this AI extensively on each subject's brain, it’s only a matter of time before the AI is able to overcome these limitations, and it may be sooner than we would like…

Snapchat's new AI “Friend”

Image of My AI's contact on Snapchat

Snapchat

In April the popular social media messaging app Snapchat released a controversial new feature known as “My AI”—an AI chatbot powered by ChatGPT. The new feature acts much like other chatbots. It can answer questions, converse with the user, and offer recommendations. However, unlike other chatbots, it is integrated in such a way that it can be difficult to distinguish from a human user, complete with a customizable avatar and name. Many parents are worried that the friendly appearance of “My AI” will make it hard for their teens to differentiate the bot from a real human. Moreover, the only way to remove the bot is by paying for Snapchat’s premium service, giving parents little recourse for protecting their children.

AI "Big Brother"

In a recent TED talk, former Apple Designer Imran Chaudhri introduced the concept for a new wearable AI device connected to a camera and microphone, enabling the AI to hear and see everything you do. Chaudhri assures us that the device is “privacy-first and safe,” but how safe would you feel with an all-seeing AI accompanying you all day every day?

AI Meddling with Elections

AI generated image of Trump's arrest

Open AI | MARCA News

One terrifying potential use for AI could be meddling with elections. The last few years have seen a decline in faith in our elections, and the emergence of AI will only serve to muddy the waters. As previously mentioned, AI voice clones are here and have been proven to have the ability to create compelling facsimiles of political figures. Combined with AI image technology the threat of an AI-generated scandal is high.

If you want to learn more about AI interference with elections you can watch this clip from the Glenn Beck Program.

AI Dating

Another disturbing development is the creation of “Dating AIs”—AI chatbots designed as a replacement for a boyfriend or girlfriend. There is already a variety of options available with prices ranging from free all the way up to $1 a minute, like some sort of dystopian "call girl." There are already reports of people developing genuine emotional attachments to these bots and others who have married or have tried to marry their artificial lovers.

Global ESG investments PLUNGED 76 percent with NEGATIVE returns on investment

SOPA Images / Contributor | Getty Images

Glenn has been one of the most outspoken critics of the use of ESG by globalist elites to force businesses to comply with their woke agenda. It turns out, not only is ESG bad political practice—it's bad for your wallet too.

Global Investments in ESG Funds PLUNGED 76 percent globally in 2022 from $157.3 billion to $649.1 billion in 2021, with a 20 percent decrease in the U.S. ALONE. This marked the lowest annual net inflow for ESG funds since $69 billion in 2018.


Morningstar via Investopedia

The downturn in ESG investment is largely due to the concerted effort led against ESG led by Glenn and government officials like Ron DeSantis and his anti-ESG 14-state coalition. Thanks to Glenn and DeSantis, an increasing number of states are barring their governments from taking ESG into consideration when determining their investment recipients for state pension and retirement funds. This not only protects critical American industries like oil and gas, but moreover, it protects the First Amendment rights of business owners who don't want to conform to the Left's woke environmentalist and LGBTQ+ standards.

Thanks to Glenn and DeSantis, an increasing number of states are barring their governments from taking ESG into consideration.

However, the massive plunge in ESG investment isn't only attributed to the political pushback against the practice: it also isn't yielding investors the return on investment they were hoping for. In fact, the main ESG funds have a NEGATIVE return on investment.

ESG funds were hit hard by falling equities. One of the largest ESG funds int the U.S., Parnassus Core Equity Fund (PRBLX), fell 26 PERCENT in 2022. This fund performed nearly six percent worse than the S&P 500, which fell 19.44 percent within the same period. Similarly, iShares ESG Aware MSCI USA ETF (ESGU) fell 20 percent, and Vanguard ESG U.S. Stock ETF (ESGV) plummeted 24 percent.

Even the Harvard Business Review admitted investors in ESG have "not fared well":

ESG funds certainly perform poorly in financial terms. [...] Although the highest rated funds in terms of sustainability certainly attracted more capital than the lowest rated funds, none of the high sustainability funds outperformed any of the lowest rated funds [bolded added]. That result might be expected, and it is possible that investors would be happy to sacrifice financial returns in exchange for better ESG performance.

The Harvard Business Review went on to say that ESG funds don't even benefit the environmental and social causes they tout to defend. In fact, when comparing environmental and social compliance between ESG and non-ESG funds, the
"ESG portfolios had worse compliance record for both labor and environmental rules" than their non-ESG competitors.

Let that sink in. ESG funds not only financially underperformed when compared to their non-ESG competitors. They failed to secure the very environmental and social compliance that is central to their original purpose. Missionally, practically, and financially, ESG failure is astounding.

As Glenn has long warned, the only thing that investment firms and governments should be taking into consideration regarding YOUR money is how they can get the best possible return on YOUR investment. We are seeing the detrimental consequences of what happens when woke ideology becomes the basis of investment rather than the recipient's monetary value.

The only thing that governments should take into consideration regarding YOUR money is how to get the best possible return on YOUR investment.

If political conviction alone isn't enough to persuade the general public to ditch ESG, maybe their hurting pursestrings will.

Glenn will show how ESG is being used to further globalist elites' agendas in the second installment of his Great Reset series, Dark Future.To make sure you're caught up and to learn more about ESG, enter your email below to get chapter one of Glenn's first Great Reset book sent straight to your inbox.

You've probably noticed that Glenn is FED UP.

He is FED UP with the crimes that our political elite can get away with. And NO ONE is keeping them accountable! This corruption goes all the way up to the Presidency. Over and over again, the American people have seen headlines of the Biden family's illicit business dealings and crimes both domestic and abroad, yet they ALWAYS get a free pass from the media, and Republicans who promise to hold them accountable, DON'T.

Are you FED UP too?

Glenn laid out the ENTIRE CASE against the "Biden crime family," detailing EVERY crime allegedly committed by the Bidens, going city by city, state by state, country by country.

But we can't stop there.

Now it's up to YOU to demand that they are held responsible. Here's what to do:

  • Step 1. Watch "The Reckoning" (on YouTube or Facebook) and share it with your friends.
  • Step 2.Enter your email HERE to get access to the "Biden Crime Family Dossier" with the full list of crimes and contact information for prosecutors and attorneys general.
  • Step 3. Take action by flooding the phones and emails of the prosecutors and attorneys general in your district and demand they prosecute these crimes.
  • Step 4. Once you've contacted the offices in your relevant district, tweet @glennbeck using the hashtag #Reckoning and let us know who you contacted and whether you received a response.

Like you, Glenn is SICK AND TIRED of our government and media giving the Biden family a free pass for their blatant crimes. Together, let's do something about it.

Watch "The Reckoning" below.