Setting Up Wills and Trusts | MHFI 147

Doug and Amberly are back to discuss the pros and cons of different types of financial security, such as wills, trusts, and life insurance. They also talk about why whole life insurance isn't for everyone and explore some unusual scenarios. Wills vs. trusts

• Benefits of wills and trusts
• Choosing a trustee
• Potential scenarios in case of a divorce

Life insurance

• Doug's story on whole life insurance
• Who can make medical decisions on your behalf
• Accelerated death benefits

Connect with Amberly Grant!

• AmberlyGrant.com
• FinTalks
• Instagram
• Amberly on Facebook

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**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice. We aren't certified financial planners or advisors. We're not qualified for much. So get advice from professionals.**

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1500 Days, Carl's Blog about Early Retirement

Email us here: [email protected] or [email protected] 0:00 - Intro 6:20 - Amberly's trust fund story 8:32 - Wills vs. Trusts - which is better? 10:24 - How to choose a trustee 14:04 - Benefits of a Trust 15:25 - Doug's situation 16:13 - What could happen to your money when you die 21:09 - Funding your Trust 22:28 - Life Insurance 24:50 - Is Whole Life Insurance worth it? 39:38 - Accelerated death benefits 41:21 - Trusting someone with your life 46:16 - Financial coaching and mentorship with Amberly

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Get MHFi Merch – It helps support the show. Get t-shirts & more

[email protected]

**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice. We aren't certified financial planners or advisors. We're not qualified for much. So get advice from professionals.**