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The Financially Simple podcast is your one-stop resource for small business owners. Gain unique insights into growing, refining, and selling businesses. You will hear ways business owners have reduced their tax liabilities, increased their income, improved office morale, saved for the retirement of their dreams, and more.
Host Justin Goodbread is a serial entrepreneur, award-winning CFP® (Certified Financial Planning professional), CEPA® (Certified Exit Planning Advisor), and CVGA® (Certified Value Growth Advisor) with years of experience guiding business owners from start to exit in their business.

Aug 19, 2019

In episode 183 of Financially Simple, Justin gives an introductory overview of the types of Legal Trusts available.

A Trust can be used for various reasons to safeguard your wealth, and to protect your dependents. Justin goes over the nine types of Trust, what they are and how they can work for your benefit.

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Complete Transcription:




00:53 - The 9 Basic Types of Trusts

01:51 - What is a Trust?

03:08 - The 9 Types

03:41 - Revocable Trusts

05:00 - Irrevocable Trusts

06:08 - Asset Protection Trusts

08:45 - Charitable Trusts

09:50 - Constructive Trusts

11:34 - Special Needs Trusts

12:25 - Spendthrift Trusts

14:15 - Tax By-Pass Trusts

14:47 - Totten Trusts

16:02 - Summary

17:30 - Wrap Up




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Host Justin Goodbread, Certified Financial Planner, Certified Exit Planning Advisor, Certified Value Growth Advisor. He is a serial entrepreneur, author, speaker, educator, Investopedia Top 100 advisor, and business strategist with over 20 years of experience. Justin owns Heritage Investors LLC, a registered investment adviser with the State of Tennessee. Heritage Investors only transacts business in states where it is properly registered or is excluded or exempted from registration requirements. This material is for general information only and is not intended to provide specific advice or recommendations for individuals. To determine what is appropriate for you, please consult a qualified professional. The Financially Simple podcast provides information, guidance, and support to Small Businesses in the United States.