The Life and Legacy Show

Those are the words one of our recent estate planning workshop participants yelled once it clicked.  We had been discussing trusts for a bit and it just wasn't clicking for her.  Then... she got it.  "Oh I see how it works!  I want that trust!" Listen in to hear the story about irrevocable trusts that made her yell out loud. 

Did you know there are actually 4 death taxes that could impact you upon your death?  As you'd probably guess, it is hard to avoid them all.  So which ones should we avoid.  This episode dives into the Federal Estate Tax, the PA Inheritance Tax, the Capital Gains Tax and The Secure Act.    This show is a great overview for all the death taxes you should know about. 

Did you know that if you go to the nursing home, the state can take your house from your estate?   The states don't say it this bluntly, but it's true.  Each year, the government collects over $700 Million through a process called Estate Recovery.  Pennsylvania is one of five states responsible for nearly 40% of all collections nationwide.   In this episode, Tim explains what Estate Reco...

"I don't want to be a burden on my kids".  This is a comment nearly all our clients make at some point during the planning process.  What does this mean, exactly?  And what are the planning opportunities to make things easier on your kids if you get sick or pass away?  Pay attention to this episode.... your kids will thank you.

Ever wondered why some people have their home in a trust and others don't?  It's simple really, the people who have put their house into a trust simply understand the estate planning game better.   Trusts are increasingly being used by middle-class families to protect assets from issues like probate and nursing homes.  In this episode, you'll learn all the reasons why you should cre...

In last week's episode, Tim explained 5 reasons why estate plans fail.  In this week's show, Tim gives 5 more issues to look out for.  If you want your estate plan to work, this is great info.  Enjoy.

One of the benefits of doing proper estate planning is to reduce stress for yourself and your family.  But when plans fail, it can create a real nightmare instead.  In this episode, Tim explains some very common estate planning mistakes that can result in big problems.  

If you can write the Declaration of Independence, you should be able to write a will, right?  Well, yeah, kind of.  Hindsight is 20/20 and in this episode Tim examines the wills of Thomas Jefferson and Benjamin Franklin and finds some surprising commonalities with how we still plan today. Happy Independence Day

According to a recent Pittsburgh Post-Gazette article, retired Pittsburghers stay in their homes longer than any other major metro area.  This has some unique implications for estate planning.  Listen to this episode to learn more about how you can protect that house you've owned forever.

Happy Father's Day!  Being a Dad rocks.  Being a Dad also comes with some responsibilities.  One of these is planning for your own absence.  Who would do all the Dad Stuff if you weren't around?  In this episode, let's explore how you can be a great Dad, even if you're not here. 

How could a death tax be good?  Trick question... it can't.  But luckily for middle class Pennsylvnians, one of them doesn't apply.  The other 2 do.  And they're bad.  And they're ugly.  Learn more about them in this episode. 

The last few episodes we've done have gotten lots of listens and we've gotten lots of questions.  Here are the answers to your questions about: Why simple wills are insufficient Why you should consider a trust Why you shouldn't put your house in your kids' names.  This is a good recap of the last few episodes that have gotten some attention.   Thanks for listening.

"You're not rich, all you need is a simple will."  This phrase, or something like it, is very common advice in typical law firms.  But we're not typical.  We'd rather do the RIGHT plan, even if it's not "simple."  In this episode we dive in to why a simple will is probably not the right tool for you.

This week, Tim is joined by Emily Stumpner of Life Butler County.  They discuss one of the best-kept secrets in long term care.... the LIFE program. This is the best way for a senior to stay in their home, rather than go to a nursing home.  To learn all about the program, it's benefits, and how to become eligible... check out this week's episode. 

In the show Yellowstone, Kevin Costner plays the lead role of John Dutton.  Dutton is willing to do just about anything to protect his home against the threat of others taking it.   You have more in common with Dutton than you may think.  The state's long term care system is set up to take your home.  Are you willing to take steps to protect it?

The tale of a family where one spouse needs the nursing home.  The first scenario is without a trust.  The second scenario is with a trust.  Which would you prefer for your family?

 Probably.  Here's Why.  Your biggest financial threat in retirement is the potential need for long-term care.  Nursing homes cost $150,000/year or more, but we can protect significant savings by having your house in a trust.   Estate planning is complicated and simple at the same time.  The documents and the laws are complicated.  Wanting to protect yourself is simple.   This is a great list...

In your search for the best estate plan, you have to wade through tons of information.  In this episode, Tim separates the Truth from the lies and the opinions.  There are many opinions.  There is only one Truth and the best decisions are made based on an understanding of what is True. In this episode, you'll learn some of the harsh truths facing seniors.  You'll also learn how to protec...

One of the reasons people get confused about estate planning is that laws are often contradictory.  Tax law may say one thing... long-term care law may say the opposite.   In this episode, Tim discusses the 3 Lands of Estate Planning that you need to understand in the estate planning process: Estate Planning Land Tax Land Long-term Care Land *Credit to my great friend and brilliant lawyer, Jeff Be...

It is more than likely that you currently own an asset with beneficiary designations.  Is that a good idea? In this episode, Tim tackles some misconceptions about beneficiary designations.  He discusses where beneficiary designations help and when they should be avoided.  It's a good listen for you and your financial advisor.

In this week's episode, Tim is joined by Ben Rovee of Strategic Financial Designs.  Ben does a great job of providing a simple explanation of the different types of life insurance plans you could consider.  Valuable info regardless of your stage of life.  Thanks for joining us Ben!

Over the few years, there have been many new laws and rules to impact your retirement accounts.  First came the Secure Act.  Now we have ESG and Biden's veto of bipartisan legislation to end it.  Here's what you need to know about the people running your retirement account. 

What's the right plan for me?  This is a question most of our clients have on their mind when they come to our office.  Here's the secret... there isn't a perfect estate plan.   There would be, of course, if you could tell me if and when you may get sick, if there would be a disability in your family, when your were going to die, and about 3 dozen other variables, I could tell you e...

On this show we frequently discuss planning for financially valuable assets.  But what about the photos and videos on your phone?  What about the memories in your mind.  Have you given any thought to how we can transfer these valuable intangibles to the next generation? On this episode, Tim is joined by his wife, Robyn Sechler, to discuss the memory planning framework she has created to help you t...

One of the things our clients always say is "I don't want to be a burden on my  kids."  We get it.   In this episode, Tim gives 5 tips for how to plan well, reduce stress, and set your kids up for success.