Downton Abbey, the PBS show about a British estate in the early 1900s, opens with a complex but fascinating estate planning problem. The owner of the estate, Lord Grantham, wakes up to the usual household activities only to learn that the qualified male heirs to the estate perished with the Titanic. Without lawful heirs, Lord Grantham faces the possibility that the estate, referred to as “Downton”, may revert back to the Crown or convey to distant, unknown family members.

Within the BoomX Academy, members ask estate planning questions in live office hours weekly. Tying the two together, Darol breaks down the archaic asset transfer rule that hindered Lord Grantham and uses it as a backdrop for ways to avoid the problem for the benefit of modern families in the current era. What is a lifetime beneficiary? What is a remaindermen or a “residuary beneficiaries”? These questions originate in British common law but modern trust techniques provide a better way, a way that protects privacy, reduces uncertainty, and even reduces tax erosion.

As usual, you may listen to past episodes and even explore enhanced content at the BoomX Academy found at www.boomxacademy.com.

You can also request a FREE retirement road map, provided by SC Financial Group.