AboutRichard E. Reyes, CFP Expertise I can provide answers to questions relating to retirement especially relating to; income distribution, tax efficiency, long-term care insurance, life insurance, estate planning, asset protection, variable and fixed annuities, alternative investments and prudent portfolio design.
Experience Through the years Richard has built a reputation as one of Central Florida's premier retirement income specialists by providing sound, unbiased wealth coaching.
We believe that Financial Planning is the problem and Wealth Coaching is the solution. The Wealth Coaching process gives you Peace of Mind, so you can stop worrying about your future. It helps you find happiness as it guides you in the TRUTH of investing, by teaching you how to make wise choices as you journey through your life’s stages. It is all about your relationships and what you value, not your net worth.
Organizations Financial Planning Association
Junior Achievement
Publications Seminole Success Magazine “Retirement Planning”
Seminole Success Magazine “Small Business Snapshot”
The Orlando Sentinel – Ask the Expert Financial Section (Various)
Greater Orlando Broker Agent Magazine “The New It”
Senior Market Advisor “Random Reader, Random Questions”
AuthorThe Dirty Filthy Lies My Broker Taught Me and 101 Truths about Money and Investing
Education/Credentials B.S. University of Florida, Gainesville, FL
CFP Certificate, University of Central Florida, Orlando, FL
Awards and Honors 2005,2006,2007,2008 America's Best Financial Planners
2007 Orlando Business Journals "Top 25" Top Financial Planners in Central Florida
Under what conditions would you recommend that a person get a Revocable Living Trust?
Other than avoiding probate and confidentiality, what are the advantages and disadvantages of a Revocable Living Trust?
Steven, good question although I am not sure that this should go to me but rather and estate planning attorney.
However, I will give you my 2 cents. I believe the question of whether you have a will or trust is independent of wealth. Meaning that how much money you have should not be the defining point of using one vs. the other.
To me it is more important that you pick one or the other based on peace of mind during the time you are alive and peace of mind for your heirs. A will, will give you some peace of mind while you are alive, but truthfully your heirs will probably hate you because they will have to go through probate to engage the will thus incurring time and money. A trust goes a bit further and will (if done correctly) give your heirs peace of mind and less headaches after you are deceased.It will also give you peace of mind during your life.
Either way I always say you are paying now or your heirs paying later. However, go get something and update it regularly. So often I see people and couples try to split hairs and save on cost and end up doing nothing. It will be worse for you and your family doing nothing. In addition, please consult and estate planning attorney so that you can get this done. DO NOT use forms from Office Depot or Legalzoom.com. Get it done RIGHT.
Richard E. Reyes, CFP
Financial Quarterback & Investor Coach
www.thefinancialqb.com
VLOG:www.thefinancialqb.com/VLOG
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