Ep 7: What Exactly is a Trust?

We’ve found that one of the more misunderstood topics in planning is the estate and legacy. Since many people don’t enjoy thinking about it or discussing this aspect of their retirement, it often goes overlooked or ignored.

Today we want to spend some time really delving into what a trust is and why someone would choose this over a will. To help us with this topic, we’ve invited Mike Bennett of MCB Estate Planning to the show. He’s one of our estate planning partners who has more than two decades of experience and understands the ins and outs of a well-constructed estate plan.

This discussion will be very valuable to anyone who wanted to learn more about trusts because we’ll go into detail on different scenarios and situations where a trust could benefit you and give you a thorough understanding of how it all works.

Here is some of what you will learn in this episode:

  • The main differences between a will and a trust. (2:48)
  • What probate is and why you’d want to avoid this for your estate. (4:02)
  • What makes people hesitant to get their estate plan finished? (6:45)
  • Some of the common scenarios where a trust can benefit someone.  (9:49)
  • Why you should be reviewing your trust every three to five years. (17:29)
  • How does moving out of state impact a trust that you already set up? (21:10)
  • The situations where a trust might not be necessary for you. (22:57)

If you have any questions about what we discussed or anything else in your financial plan, email us at office@bulmanwealth.com.

If you have any question for Mike, you can visit him online here. 



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At Bulman Wealth Group, we believe everyone should live the retirement that they’ve always wanted. To do that, we feel you need to look beyond savings and investment. We believe—that’s what you’ve been taught to look after—but we think there are actually five pillars of retirement planning that need your consideration including investment, income, taxes, health care planning and legacy planning.

Use the buttons below to learn more about our services and the five pillars of retirement planning. You can also book a 30-minute discovery call with the team below, or by calling (916) 458-8199 with your questions.




Ep 8: Pulling the Positives from a Negative Economy

It’s not news that the economy has been quite turbulent over the past year and there’s been plenty of negativity to sift through as an investor. We can’t ignore those negative elements but we want to turn that around today and focus on the positive side of the current market conditions.

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