Who is Your Trust’s Successor Trustee? Family or Friend?
Most people hand the successor trustee job to a family member. It feels right… until it goes wrong.
August 11, 2025
Most people hand the successor trustee job to a family member. It feels right… until it goes wrong.
Today, nearly 57 million Americans have disabilities, according to the U.S. Census Bureau Reports issued July 25th. About half of them will require costly care throughout their lifetimes. Unfortunately, few parents are fully aware of all the risks they’re taking by not making special provisions for their special needs child.
Short answer: Not really. Middle to high income families may not feel it’s worth the headaches and low income families may see little benefit.
If you’re within 5-10 years of retirement and have built a portfolio north of $1 million, congratulations—you’ve done the hard part. Now, it’s about avoiding retirement mistakes.
Whether you live locally in Moorpark, Simi Valley, or anywhere else, you may want to consider having a trusted fiduciary financial advisor help with your mid-year review, as you may see.
While the Fed continues to target a 2.0% inflation rate, headwinds in the form of inflation pressures from worker shortages, tariffs, and foreign conflicts are coming at a time as America approaches a historic demographic milestone – a record number of individuals turning 65 this year.
Back in the 1990s, taxes and fiduciary standards weren’t talked about. The financial headlines were dominated by star fund managers and double-digit growth stories. Financial talk shows and glossy magazines alike obsessed over who was “beating the market.” The mantra was simple: accumulate assets. That was the measure of success.
What most people don’t realize: There are some important details about how and when these delayed credits are actually added to your benefit.
Congratulations—you’ve built up a healthy retirement nest egg, maybe even a couple million bucks in a traditional IRA. Cue the applause! No worry about tax traps now! But as you reach retirement and start thinking about how to spend it (or pass it on), Uncle Sam is waiting with a few surprise moves that could mess with your plans. These are the tax traps.
You’ve just inherited an IRA from someone not your spouse… usually a parent. Guess what! Your rules are different.