Ep 3: What to Know About Estate Planning with Rudy Beck

The Direction:

What kind of documents do you need prepared when it comes to estate planning? Is your estate set up in a way that makes sense for you? Find out what you should do from attorney Rudy Beck.

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What You’ll Learn On This Episode:

Do you have a clear intention and peace of mind when it comes to your estate planning? Are you set up in a way that will avoid probate? On today’s episode of the Rethinking Retirement podcast we have special guest Rudy Beck, one of Marvin’s go-to people to call when working on estate planning with clients.

To start, there are two crucial documents that everyone should have: the durable power of attorney for financial affairs and durable power of attorney for healthcare. What details should you consider with each of these documents? What kind of decisions will you need to make?

Does a will allow you to avoid probate? People are under the mistaken impression that having a will helps you skip probate when it’s really the opposite. For over 45 years, Rudy has been encouraging people to use a living trust instead of simply a will to help you save time, save money, and keep things completely private.

What are the different ways that a living trust can be designed? If you have potentially young beneficiaries or heirs that may be less responsible with a large sum of money, how can you protect them and their inheritance? What about beneficiaries that might be in a bad relationship, can you protect the inheritance from an untrustworthy spouse?

Marvin and Rudy have a great partnership because not only will you then have a trust, but they ensure the trust is properly funded. Both serve their clients in a similar way, by making sure clients understand what they’ve done and have complete peace of mind with their documents and investments.

Do you have your estate planning in line?


0:49 – Introducing our special guest: Rudy Beck.

1:58 – What are the two most important documents to prepare?

5:59 – How can you avoid probate?

8:24 – How can a living trust be designed?

12:39 – How can you protect funds from a bad marriage?

13:55 – What benefits could veterans have available to them?

17:06 – What’s it like working with Rudy and his team?

Featured Takeaway:

“The trust doesn’t exist if it’s not funded. You really want to coordinate that between a financial advisor and an estate planning attorney.” – Marvin Mitchell

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