So proud to be a part of Wellness Wednesday!
Kami Redd of 10 Dimensions of Wellness announcement: #WellnessWednesday I will be joined on the 10 Dimensions of Wellness by author, retired Public Health Officer, & owner of Bee Connected, Dr. Gail Hamilton. Dr. Gail is dropping some amazing pearls of wisdom on this show. From information on grants, being a nonprofit, setting up a trust, & what it feels like to be a BLACK woman growing up & aging in America. This IS NOT the last time we will have Dr. Gail on, but this is definitely a pen & notebook type of situation. So get comfortable & pay attention!
Many Ways to Listen!
The 4 Keys to Wealth with Dr. Gail
Part 1 of the 4 Keys of Wealth
Part 2 of the 4 Keys of Wealth
Part 3 of the 4 Keys of Wealth
Talk Wealth to Me
#052: What's a Will? What's a Trust? What's the difference?
You’ve likely heard the terms before:
- simple trust
- complex trust
- generational wealth
But do you really understand what they mean or how these tools can help you and your loved ones financially?
Joining us on the show to help navigate the differences between wills, trusts, and how generational wealth can benefit your family is Dr. Gail Hamilton, owner, and principal of BeeConnectedLife.com, a service that helps private businesses and families establish trusts & foundations.
A will is a legal document that spells out your wishes regarding the care of your children, as well as the distribution of your assets after your death.
A trust is another method of estate transfer—a fiduciary relationship in which you give another party authority to handle your assets for the benefit of a third party, your beneficiaries.
A trust can be created for a variety of functions, and there are many types of trusts.
The difference between a will and a trust is when they kick into action.
A will lays out your wishes for after you die.
A living revocable trust becomes effective immediately.
While you are alive you can be in full charge of your trust.
And when you become incapacitated or die, the person you appoint as the successor trustee can easily step in and handle your affairs exactly as you have laid out in the document.