← Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze Orman's Women & Money (And Everyone Smart Enough To Listen)
Suze School: A Special Way To Protect Your Tomorrow’s Today
00:29:40
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KT
Hey everyone, it's KT here and I'm reminding you to take advantage of the most amazing offer from alion. It's the 4.30 APY certificate that you.
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Susie Orman
Can open now, right now, good for 12 months. All you have to do is go.
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To myalliant.com, that's m y a l l I a n t dot com online. You can sign up for it or right then and there. And again, 4.30 for a 12 month certificate. That's APY annual percentage yield and if you put amounts of 75,000 or more in, it is 4.35 APY. Go on, do it. Because I don't know when this will.
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No longer be available.
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Come on, don't miss it.
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Unknown
We are strong, we are wise we will not apologize we are here, we will thrive Together we will rise we're the little bit of faith and everything it takes we are strong, we are wise Together we will rise.
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Susie Orman
July 20, 2025 welcome everybody to the Women in Money podcast as well as everybody smart enough to listen. And today is Susie's school. Kind of. But what else is a kt?
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KT
It's kt. I'm in Susie's school today and there's a big reason why. Tell them we are celebrating my birthday with my twin sister tomorrow.
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Susie Orman
Yes.
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KT
And we have something special that we would like to be able to offer all of you for my birthday.
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Susie Orman
So in the same way that for my birthday we gave you a special URL that you could go and get the must have docs that normally sell for $99. And by the way, very shortly they are going up a whole bunch. But anyway you were able to get them for $74. Why? Because I turned 74. Now KT comes to me and what do you say KT?
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KT
Hey, you're not the only one in this game, Susie Orman. It's KT and Susie podcast. So I want to be able to offer on my birthday an even better deal. Everybody ready? $73.
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Susie Orman
And that is because KT is going to be 73. So here's what you need to know. So many of you over all of these years that we have been doing this, you have been asking questions. Why do I need a will? Why do I need a trust? Why do I need all of this stuff? So after Susie school is over, at the end of what I want all of you to know, KT is going to come back and tell you exactly what you need to do. To do what? To get the must have docs $2,500 worth. A state of the art documents.
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Good in all 50 states.
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You can renew them, you can do anything. You can share them with people, you can change them. No more money. Besides that anyway, what you can do to get them for $73. So for now, sit back, get out your little Suzy notebook. Cause Suzy school is beginning now.
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Many call me the world's personal finance expert. But today I am going to be your personal financial educator on what I consider the very most important thing that you need to do today to protect your tomorrows. Over the 40 years that I've been doing this, so many of you make such a big mistake. You think all that matters is what stock should you have, what should you be investing in your retirement, all those kinds of things. But if you don't do what I'm telling you to do today, again, it will, in my opinion, be the biggest mistake you can ever make. So what is that mistake? That mistake is you notice preparing today for what could happen in your future. So what am I talking about? There are things that you must have. And therefore these things I call the must have documents. And what are they? They are a will. A living revocable trust. An advanced directive and durable power of attorney for healthcare, as well as a financial power of attorney. If you don't have all four of those and in place today, signed, sealed and delivered again, it will be one of the biggest mistakes that you ever make. Now I know so many of you are told all you need is a will. You don't have enough money for a trust. A trust is only for those people who have a lot of money. Well, I'm telling you, the less money you have, the more you need a living revocable trust. So first let's just start out with what are they. A will is simply a piece of paper that says where your assets are to go upon your death. But it does it in the most cost ineffective way possible. It doesn't plan for the what ifs. What if you become incapacitated? What if you get older and you don't know even who you are? Whatever it may be, that's all it is does. So let me first start with giving you an example of a will. Let's just say you live in California, maybe you're living in San Diego and you have a house worth $400,000. I know, good luck finding a house in San Diego for just $400,000. But I just want you to understand how this would work. And maybe it's my mother's house and My mother wants to leave that house to me. So in her will, she says, upon her death, I'm to get that house. In the meantime, the deed to that house is in my mother's name, Ann Orman. My mother dies. Now, I simply have this piece of paper again, known as a will. And I'm going to have to do what? Take it down to probate court so that a judge can sign the deed because my mother's not alive to sign it anymore, from her name over to mine. Simple procedure, right? Well, in San Diego, in California, that simple procedure is going to be the following. About $2,000 in filing fees. Okay, not a big deal. But for a judge to simply sign my mother's deed over to mine, that's going to be for a $400,000 home, even if she has a $399,000 mortgage on it, between an executor and a lawyer, because you're not going to be able to do it. You need those things. It will be statutory, about $22,000, and it will take a minimum in most cases of about 11 to 12 months to two years. Really, everybody? Is that what you want to do? You're living in the house, you've been living with your mother, and all of a sudden she dies. And now you don't have that kind of money to go through probate. Guess what? The house will be sold to pay the probate fees. I just want you to think about that. So what should my mother have done? My mother should have created what's called a living revocable trust. Living. You do it while you're alive. Revocable. She could change it anytime she wants. Trust is the name of the document. It doesn't affect her property taxes. It doesn't affect her income taxes. It doesn't affect anything except it will absolutely make my life a whole lot easier. And then I'm going to give you an example of why it would make her life a whole lot easier. While she is alive, she transfers the title of her house into the title of the trust. Ann Orman, trustee for the Ann Orman Living Revocable Trust. She is, number one, the trustor, the. The one who created it, the trustee. She can change anything she wants. It's held for her benefit while she's alive. And she will name a beneficiary, me, in this case, so that upon her death, I get the house. Because she went to the trouble of transferring the name while she was alive from just the deed in her name to the deed in the trust upon her death, two weeks later, it transfers to me. No probate fees, no six months, one year, three years, whatever it may take, depending on where you live, two weeks later, that trust is mine. Now, maybe it might cost me $750 for the actual title to transfer, but that is it. But let's say you're thinking to yourself, susie, I actually don't care how long it takes my kids to get this house. I don't care about that. I'll tell you what you should care about. Let's say as you get older. Because this is true in my mother's case. As my mother got older, she died at 97, she started to say to me, susie, who is Social Security that keeps putting a check in my account every month? All right, everybody. Or what would happen if she truly became incapacitated? She couldn't write checks, she couldn't pay her bills. She really couldn't function anymore. A will isn't going to help her. And that is because a will only comes into effect when she dies to pass everything to her named beneficiaries. Are you following me right now? A trust with an incapacity clause names. If mom were to become incapacitated and a doctor says she's incapacitated, then there is a successor trustee already in place who can make decisions for mom, pay the bills, write the checks, take care of everything. If you didn't have that and now mom is incapacitated, for you to be able to take care of her, you're going to have to go and get her declared incompetent and get a conservatorship for her. Oh, in the state of California, that's only about $5,000. But for every year after that, in most cases, you're going to have to check with the court to make sure that what you are doing with mom's money is really for her benefit and not for your own. So are you starting to understand how complicated that can be? Oh, I can hear you now. But, Susie, I don't need a trust. I own a home in joint tenancy with my daughter or with my spouse. Okay, I get that. And you're thinking, therefore, if I die, it automatically goes to them. That is true. But here's the problem. You don't die and one of you becomes incapacitated. You are walking down the street, you slipped, you hit your head, whatever it may be. And you can't afford to keep them that home because it was taking two incomes to pay the mortgage. And now one of you is incapacitated. You don't have an income anymore. And now you need to sell the house. Can you? Tick tock, tick tock. Oh, time's up. No, you cannot. And why is that? Because if you own a home in joint tenancy with right of survivorship, guess what? It takes both signatures for you to be able to sell that home. If you simply owned the house, both of you living revocable trust, both joint tenancy with right of survivorship, whatever it may be, if one of you were incapacitated, the other could sign for you. You could sign for the other. Just that simple. But let's also just say one more example. You have minor children. You do understand that minors can't inherit money. If you leave your kids via your will, the money and their minors, it's going to go into a blocked account until they are 18 or so years of age for them to use it. There are ways around it, however. Why don't you want to do things the easy way? Why? And I just have to say this. There's one example of what can happen if you simply think that you are going to avoid this and you, while you are alive, are going to transfer your house to your daughter. Let's just say that's what you're going to do. First of all, if you do that, you have also transferred your cost basis to your daughter. You bought the house years ago for $50,000. It's now worth 400,000. Her cost basis on that house is 50,000. She goes to sell it, she's going to owe taxes on the difference between 50 and $400,000. If, however, she inherits it via a trust or even via a will, she gets a step up in cost basis to 400,000. So if she turns around and she sells it, no tax whatsoever. But here is a true story that recently just happened and it has broken my heart. There is a woman who is 90 years of age and she lived in a home worth $1 million. And it had a second unit to it. And her niece was invited to move into that unit and take care of her. Just that simple. And they came up with this idea of, I know, to avoid probate, why don't I transfer the title of this home into your name. You're so good, you're taking care of me and I want you to have the house. And they do that. Recently I got an email from another relative and they said, susie, we need you to help us. My aunt did this, left it to her other niece. But Susie, that niece just died. And that niece's will has Left everything to some man that we don't even know. And now my aunt can't sell the house. She's living in a house that she no longer owns. And now what are we going to do? You think you can get around things, do you? When all it would take is for you to get the must have documents. Are you kidding me? The next two, the advance directive and durable power of attorney for health care. In advance of you getting sick, you just give directions to who, your doctor, as to what you want to see happen. You also, with these documents, you name somebody that's known as the attorney. In fact, somebody who can make decisions for you when you no longer can make them for yourself. Those documents are essential, everybody. And also I just want to tell you something about those documents. If you have a child who's over the age now of 17, so they are 18 or older, legally, you no longer can make decisions for them. If they end up in the hospital, you do not have the legal authority to instruct the doctor what to do. If, however, you had an advance directive and durable power of attorney for your 18 year old or older child, where you were named as the person who could do that, you could still then step in and make decisions. When, when your child, your children cannot do it, I want you to think about that. And last but not least, the financial power of attorney. Sometimes when a spouse has stock options or an IRA or whatever it may be and it needs to transfer into your name and things, a financial power of attorney, especially the one that comes with the must have documents, is exactly what you need. So those are the four must have documents. Now hopefully you understand why you need them all. But I know all of you are saying, oh, Susie, number one, I can't afford it. Well, I'm going to show you in a second how you absolutely can, but you're thinking it's too complicated. I don't know an attorney. I don't even know where to go and how to do it. Oh yes you do. Once you have purchased the must have documents in the luxury of your own home, you are going to create these four must have documents. You will get an activation code. You will enter it, just click unlock. And here's what you are going to get. You will be getting all four must have documents. The will, Revocable trust, the advanced directive and durable power of attorney for health care and the financial power of attorney. Here's what you need to know, everybody. It is good in all 50 states. Personalized for your unique situation. Works on computers, laptops, smartphones and tablets and you're going to be able to complete it in under an hour. Don't worry, you will find that there is help every step of the way. There will be AI guided assistance, a live online chat for you and toll free 800 number to call. You ready? This is how easy it is. You will simply fill in the information, take a look over to the right side and you will see that there are instructions there as to everything you should be filling out. You also can click live chat, ask questions and it is easy as can be after you have saved them. Here's what you're going to need to do. You're going to need to choose which trust out of these three you want a single revocable trust. Obviously if you're not legally married you can use this trust, but you can also use it if you are married. Just so you know, married revocable trust. If you know you want to leave everything to your spouse and this is the one that you would choose and a separate property revocable trust. Hey, if you've inherited property or you came into the relationship with property and you want to make sure nobody ever gets it, that's what you will use. Now this is where you're going to add a beneficiary. Just click on add beneficiary and put in all the information of the person you want to leave something to. You have instructions if anything happens to confuse you. But here's what is going to surprise you. This is the only program out there that allows you to either take a picture with your iPhone or whatever you may have and put it in to this program. You can also go directly into your library and add a picture. Let me just tell you why this is important. Number one, later on, let's say the kids start saying, no, no, Mama wanted to leave it to me. The other one could say, oh no, look, my picture is there. So mom wanted to leave it to me or dad wanted to leave it to me. Also, when you go to review who you have left everything to, it's so simple just to go back and go, oh, this is who I left it to. Rather than looking at all the words and looking through the documents, it's all in a section that's so easy for you to see. After you've done all that. Then you also can add specific gifts to people. Let's just say you want to leave your jewelry to Kate, your car to Michael, and your fishing rods to Shannon. Oh right, A girl after my own heart. She likes to fish. And you can Leave as many specific gifts to as many people as you want. Now, believe it or not, after you click here, save and continue, guess what? You are essentially done and you have the ability to review and print out. Every one of these four must have documents, but you need to review them one at a time. So let's review the revocable trust. These are legal documents, everybody. So every word that you see in blue, if you don't understand what it means, click on it and up will come the legal definition. Everything in red is what you put in. And let's just say that you're looking at this and you're going, oh, maybe I shouldn't leave the fishing rods to Shannon. Maybe I want to change that and leave it to Michael. No problem. All you have to do is click on Shannon's name. It takes you back, you click edit, you put in the person you want it to leave it to, and then what happens? It automatically populates all the documents with the correct information. Now, once you have gone through everything, you will then download and print your trust. And here is what is so great. When you do so, you will also be printing out the instructions, just three easy steps. You will sign it, you will notarize it, and then you will fund it. And now you are protected. When you get this kit, there will be a complete video explaining to you exactly how you go about funding. So please do, don't worry about it. Not so hard, right? It's actually really, really simple. And please don't tell me that you don't have one hour of your time. Of course you do. But I also know what all of you are thinking. How much is this, Susie? It's. I can't afford it, you know, I just can't do it. Now, while it's true if you went to see a lawyer, in most cases to do these four documents, to sit down and have the lawyer explain it to you and everything else, it's going to probably cost you $2,500 maybe to $5,000 in there. So I understand why many of you don't have that much money to do these documents that are so important for you to protect your tomorrows today. I get that. And that's why these documents were created over 20 years ago, so that every single one of you could afford to have what you need to have. So I want you to listen to me closely. The must have documents are there not only for you to protect yourself, but it is the desire for all of you to be able to protect those that you love as well. This is the only program that I have ever known where once you get this program, you can give the activation code to anybody in your family because you want them to be protected as well. They each get to create it with their own password. So they're not going to be able to see what you did. But you now can help the members of your family. A sister, a brother, a mother, a father, an aunt and uncle. We don't personally care. I have been told by the manufacturer of this product that as the educator, I could tell you, go ahead and do that. That's number one. Number two, every time this product is up dated and it has been updated a lot since the year 2000, you get the update for free. So this isn't like, oh, we're updated, you have to buy it again, just that simple. No, all updates are free. And last but not least, every time you change, you go from single to married, married with no kids, to married with kids, possibly married back to single again. Who knows? Every time you have a change in your situation, you just come back to the program and make that change free of charge. Oh, you go to an attorney every time you go to that attorney to make a change. $500, $250 $1,000. Not here. You are getting not just $2,500 worth of state of the art documents, you're getting thousands of dollars of state of the art documents if you share them with those that you love. Do you understand what's happening here? This program was not created so that every single one of you buys it. No, this program was created so that every single one of you is protected. And it just takes one of you, just one of you to step up and purchase this program today. Just that easy. And then share it with those that you love. I don't know. Out of all the things I've ever seen out there, there's not another set of documents that are as good as these. They have been tested over the years. Millions of them are out there. But now it's your time to step forward and truly protect your tomorrows today.
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KT
So what do you think, everybody? Did you learn why must have documents are necessary for all of us, no matter what, You've got to have this in place. So we want you to be secure. And now all you need to do is go to musthavedocs.com make sure you give yourself the best gift ever on my birthday, which is the must have docs. And then this offer is going to be good. It's only $73. Do not miss it. The offer is good from July 20th today till the 27th midnight Pacific time.
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Susie Orman
And then that's it, everybody. So there you go for me and everybody who listens to you on this podcast. I know I can feel it. I have goosebumps. They're all wishing you and Lynn, your twin sister, the happiest birthday of them all. All right, everybody. Now there's only one thing we want you to remember when it comes to your money. And what is it? This is the year to make your money, make more money. And one of the best ways I know for you to do it is go to musthavedocs.com birthday $73 good till July 27 midnight Pacific time. All right, everybody, say goodbye. KT.
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KT
Happy birthday to you.
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Susie Orman
All right, bye.
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Bye.
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Unknown
We are strong we are wise we will not apologize we are here, we will die Together we will rise we're the little man of faith and everything it takes we are strong, we are wise Together we will rise.
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Susie Orman
Hi, everybody.
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Suzie O here now, if you are.
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Looking for a way to start saving.
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To get the most out of your money, I want you to go to myalliant.com that's M Y A L L I A N T dot com, and look into opening an ultimate opportunity savings account. Put in at least $100 a month every single month for 12 consecutive months. Earn 3.10% interest on your money right now and get $100 at the end.
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Are you kidding me? It's the best deal out there.
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Start saving right now.
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Unknown
Neither Susie Orman Media nor Susie Orman is acting as a certified financial planner and advisor, a certified financial analyst, an economist, cpa, accountant or lawyer. Neither Suze Orman Media nor Suze Orman make any recommendations as to any specific securities or investments. All content contained in this podcast is for informational and general purposes only and does not constitute financial accounting or legal advice. You should consult your own tax, legal and financial advisors regarding your particular situation. Neither Suze Orman Media nor Suze Orman accepts any responsibility for any losses which may arise from accessing or reliance on information in this podcast and to the fullest extent permitted by law, we exclude all liability for loss damages, direct or indirect, arising from the use of this information. The must have documents discussed in this podcast are legal documents created by a lawyer and distributed by Hay House.