Estate Planning and Trusts: An Interview with Attorney Ben Grosz

“If you don’t take the time to [make] an estate plan, the government has done so for you.”
–Ben Grosz

We hear about trusts and estates and think that they’re for the ultra-wealthy. I had the opportunity to interview trust and estate attorney Ben Grosz of Ivins, Phillips, & Barker to dig into the truth behind this misunderstood issue.

Here are some of the highlights of the video.

  • 1:04 – What is estate planning and why is it important?
  • 4:19 – Should we avoid probate? If so, how?
  • 7:30 – Beneficiaries in estate planning
  • 11:05 – What’s the difference between a trust and an estate?
  • 13:01 – How does the 2013 tax law affect your estate planning?
  • 16:22 – How do you use a trust to keep the kids from blowing their inheritance in Vegas?
  • 20:30 – Preventing “trust fund babies” – how to keep your trust from creating the next Snooki
  • 23:43 – At what level of wealth should we consider trusts? (You’ll be surprised at the answer)
  • 29:20 – Getting life insurance out of your taxable estate

Also, you have to watch the entire interview to discover the difference between JFK’s will and the will of Adam Yauch of the Beastie Boys.

If you’re concerned about doing your taxes correctly, I’ve used
TurboTax Online (#aff)
for several years, and, despite the complicated status of our taxes, have had no problems filing my taxes, saving us almost $1,000 compared to what we were paying our accountant when he prepared our taxes.

And, as Ed McMahon would say, heeeere’s Ben!

Estate Planning and Trusts: An Interview With Ben Grosz

What did you think of the interview? What other interviews would you like to see? Tell us about it in the comments below!

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Jason Hull was the co-founder of Broadtree Partners, a firm that acquires $1-5MM EBITDA companies. He also was the co-founder of open source search consultancy OpenSource Connections, a premier Solr and ElasticSearch firm. He and his wife FIREd (financial independence retire early) at 46 and 45, respectively. He has a BS from the United States Military Academy at West Point and a MBA from the University of Virginia Darden Graduate School of Business. He held a CFP certification from 2015 - 2021. You can read more about him in the About Page. If you live in Johnson County, Texas or the surrounding areas, he and his wife are cash buyers of Johnson County, Texas houses.

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