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Estate Settlement Brings Relief to Loved Ones
November 17, 2015
Johnella and Hampton first learned about Thrivent Financial after joining a Lutheran church in Oakland, California. It was there that they met their Thrivent Financial representative and started putting their estate strategy in motion. As it turns out, this made a big difference for Johnella when Hampton passed away shortly after.
Surviving family is taken care of now & into the future
Before Hampton’s passing, they established a survivor’s trust that determined what percentage Johnella could withdraw from it each month. However, after he died, there were still things that needed to be finished before the trust was completely set up. Mainly, there were accounts in foreign countries that needed transferring to make the trust complete.
Johnella turned to her Thrivent team to collect the assets, coordinate required tax filings and, ultimately, settle the estate to appropriately fund several trust accounts.
“My Thrivent trust officer and financial representative worked out all of the details. They were most helpful and took away a lot of my stress,” says Johnella.
Assets for now & the next generation
Johnella says her financial rep took care of all the details and really went above and beyond – following up with her often to make sure she was doing OK. The estate was settled, and several trust accounts were set up. Johnella has a survivor’s trust, which she draws on for ongoing living expenses. There’s also a subtrust for her daughter, one for her grandson and a bypass trust, which is commonly used to avoid paying estate taxes when assets are passed to a child at the time of a second parent’s death.
The way the trusts are structured has been working well for Johnella. She says she’s been able to get the money she needs each month without problems or worry. She was even able to take out a larger amount of money for a home addition, so her daughter and grandson could live with her.
Strong working relationship
Johnella has been satisfied with the trusts and how she works with her trust professionals on an ongoing basis. She really appreciates that her trust officer is prompt in returning phone calls and calls her to see if she has any questions about her investment portfolio.
“I’m very satisfied with how Thrivent Trust Company is taking care of my affairs – I’m not worried about them at all,” says Johnella.
Johnella also appreciates how Thrivent Trust Company coordinates tax preparation with her accountant each year. Her taxes are done, and she doesn’t have to worry about it.
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Thrivent Financial and its representatives and employees cannot provide legal, accounting, or tax advice or services. Work with your Thrivent Financial representative and, as appropriate, your attorney and tax professional for additional information.
This individual’s experience may not be representative of other clients. This story is not indicative of future performance or success.