How Do I Protect My Savings?
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All right, let's go to laDonna. Ston texas is where she's at.

What's going on? LaDonna doing good. How we. I have four hundred thousand dollars in cash that I need to know what I do with IT to protect IT so that my two son did IT and that IT doesn't go to private.

And also that is accessible and a very long take I needed for tair. Do I put in in a trust? I have a trust that you do see the real state. What do I need to do? Well, like to see you've already got.

What kind of trust is.

is that you have set up just a pain, A A revocable living through perfect.

Okay, so you could put IT within the trust and they named the kids as beneficiaries and that will simplify the distribution process.

Okay, the best thing to do.

yeah I mean, and then that will give you the .

most control over what IT happens with IT. I mean, if you have them listed as beneficiaries on the bank account, they're gonna the money.

Was there something you wanted to do with .

the money in the meantime? Or there shouldn't be taxes, shouldn't be taxes on this inheritance and you you're likely not going to have an estate that's going to trigger of taxes that's beyond the amount you're talking millions and millions and millions. So i'm not i'm not worried about this, but I would also make sure that you're working with a good estate planning attorney, walking through all of these different things and setting this all up and in a way that you suits your wishes. OK, are you doing this alone?

One of my trust and alterations OK this money .

was support.

I would ask them, I would just say.

hey, I want to make sure that I get split between them with very little, very much an easy process to distribute this. So I want both of them on this at this age or when this event happens, and they can make sure that you do in the best way possible.

And i'd be looking for a way to that. I can grow over the time, what? And then you live to.

And for the next twenty years, the four hundred years just in there.

make IT nothing. Well, I made a point. Every thing is time for.

I don't need any more money. I don't. I'm problem. I get IT some.

How is that in a high yellow save account?

Now in A C D, oh, okay.

What's the C D making right now? Was like a four and a half for five percent?

yes.

OK. That for now, once the city no matters, you're going have to do something else with that, right? Because you might need this money. Is that true? What do you have other money that you can use .

to live and cover any of your expenses to do? And security and for me to live on?

okay. Yeah I mean, after after the city matures, I talk with a smart vest pro and see if there's another way that you can invest this, something that you understand that easy to be managed in that way. At least it's growing from now until the day that your kids get their hands on IT and the .

other ideas you could gift IT to them while your life, yeah, I think you can do up to what, seventeen grand per year without trigger ing any of the gift tax pieces there. Good idea. And now I I like the idea helping them, given them a leg up yeah Younger most the biggest .

part of this, I think, is to make sure that they know what's coming to them, whether it's usually like you're talking about or if it's something that's going to be a lump sum kind of letting them know, here's the money that's coming and just letting them know. So it's not a surprise. Dave always talks about that, which I think is a good a good idea. All right. Thanks for the call.

Thanks for tuning in to RAM .

the everyday millionaires to learn more about how to plan for retirement via m these solutions dot com flash retire or put the link in the shown notes Randy solutions is a paid non climb promoter participating pros learn more rainsy solutions dot com slash smart vester.