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Trust Issues. S6 : E5. TV-PG | 43 min | Aired: 04.29.24. After having issues with a new game strategy on the field, Spencer tries to divert his attention.
- 42 min
- Asset-Protection Trust
- Charitable Lead Trust
- Charitable Remainder Trust
- Constructive Trust
- Irrevocable Life Insurance Trust
- Marital Trust
- Special Needs Trust
- Spendthrift Trust
- Qualified Terminable Interest Property Trust
- Testamentary Trust
As the name implies, an asset-protection trust is designed to protect your money — specifically from current or future creditors. Essentially, you allow a third party to hold the funds without naming you — the creator of the trust — as a current beneficiary on the account. Once the risk of creditor attack has subsided, you can dissolve the trust or...
When you create a charitable lead trust, you decide that a certain portion of your assets will go to charity and the remaining assets will go to your beneficiaries.
A charitable remainder trust allows you to receive a set income for the duration of your life or until the termination of the trust. In either case, once you are no longer receiving income or the trust has been dissolved, the remaining funds will go to charity.
Constructive trusts are not formal trusts created by a trustee, but rather implied trusts established via courts based on certain circumstances. If you have documentation that you intend to leave certain assets or funds to a particular beneficiary, for example, then the courts can decide to grant a constructive trust to carry out your wishes.
An irrevocable life insurance trust excludes life insurance proceeds from your taxable estate. At the same time, it offers liquidity to the estate and, eventually, to the beneficiaries of the trust.
This is one of the most common types of trust, specifically designed to leave your estate to a surviving spouse.
Special needs trusts allow for beneficiaries who receive government benefits to benefit from the trust without taking away from their current state or federal subsidies. The beneficiary, however, must ensure they do not take distributions that would disqualify them from government help. The recipient will also need to meet certain standards, such a...
Sometimes beneficiaries have outstanding debts or financial liabilities that can put their future assets at risk. Like an asset-protection trust, a spendthrift trust protects your money from your beneficiaries’ creditors until the funds are distributed.
A qualified terminable interest property trust, or QTIP, works much like a standard marital trust, except you can choose additional beneficiaries to receive funds upon your spouse’s death rather than providing income only to a surviving spouse.
Testamentary trusts are outlined in wills, ensuring funds go through the standard court process before distribution. That means a testamentary trust will also be subject to court costs, fees, and transfer taxes, and the trust can be subject to court supervision even after the funds have been distributed.
- The Grandparent Scam. The grandparent scam is one of the most common scams targeting seniors. Typically, a phone call will come in and an individual posting as the senior’s grandchild will tell the elder on the other end of the line that they are in some kind of trouble, usually involving money.
- Counterfeit Prescription Drugs. Counterfeit prescription drugs have become increasingly prevalent, especially among older adults. Scammers are able to find ways to make fake medications look like they come from a legitimate source, and then sell them at discounted prices or offer them for “free”.
- Government Impersonation Scams. In government impersonation scams, a scam artist calls unsuspecting older adults pretending to work for a federal agency such as Medicare.
- Fraudulent Anti-Aging Products. The anti-aging industry has always — and continues to be — a hotbed for scammers. Many older Americans are looking into new treatments for youthful appearance, and scammers are all too happy to prey on those looking to reduce fine lines and wrinkles.
There are thousands of YouTube channels specifically for people over the age of 50. Here are some of our top picks. Cyber-Seniors Corner. If you are completely new to YouTube, Cyber-Seniors Corner is a great place to start looking for entertainment.
- 13 min
- Communication with Loved Ones. Communication is a common problem that challenges older adults mainly due to decreased physical and cognitive abilities.
- Staying Active. Physical limitations and chronic health issues make it difficult for the senior population to stay active, move around, and exercise. Sometimes, the need for more social support, appropriate transportation, and financial resources limits an elder’s access to activities that promote physical health and well-being.
- Financial Concerns. Financial issues are a significant challenge for aging adults, as they may need a steady income, adequate savings, or financial resources and benefits to cover basic living.
- Living a Comfortable and Fulfilled Life. Living a comfortable and fulfilled life is challenging for some older adults because of the physical and mental health issues we’ve discussed, as well as mobility issues, a lack of social support, and feeling disconnected from life.
Nov 9, 2023 · For seniors, that help might involve some assistance with household chores, preparing meals, accessing educational opportunities, or dealing with health issues, among others. We researched seven charities that benefit seniors, each of which has earned a sound reputation for reliable support by well-trained volunteers and/or professionals.
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"Trust Issues" is the fifth episode of the sixth season of All American. It aired on April 29, 2024. After having some issues with a new game strategy on the field, Spencer diverts his attention to helping a South Crenshaw High player, who has been struggling with his own issues.
