EstateCast

This podcast discusses the importance of including future children in estate plans to protect their future. Waiting too long to update plans can lead to complications, as seen in the case of Heath Ledger. It is crucial to revisit and update estate plans regularly. Planning for future children should be done with simplicity and flexibility to avoid confusion. Naming guardians and handling funds for...

Many parents do not plan to leave an inheritance to their children, but it can be meaningful and important for long-term financial success. Outright inheritance can be easy, but there is a gap between what people say they will do with it and what they actually do. Money can disappear quickly due to poor decisions or scams. Debt and incapacity can also complicate things. It is important to consider...

Estate planning is important for everyone, not just the wealthy or the elderly. It's about protecting your loved ones and having a voice when you can no longer speak for yourself. One common myth is that only the rich need an estate plan, but it's about more than just money. Another myth is that your spouse will automatically get everything, but this can be risky, especially in blended families. H...

This podcast episode discusses the difference between a revocable living trust and a testamentary trust. A revocable living trust is created during your lifetime, can be changed or revoked, and helps avoid probate. It also provides incapacity protection and is funded while you're alive. On the other hand, a testamentary trust is created after your death through your will, cannot be changed, and mu...

In this episode of Living with Your Bags Packed , estate planning attorney Robert Newman explores the critical role of caregivers and the importance of estate planning, using the recent passing of Gene Hackman and his wife, Betsy Arakawa, as a case study. Gene Hackman, who reportedly suffered from Alzheimer’s, relied on his wife as his primary caregiver. When she tragically passed away first, he w...

Richard Simmons, a fitness guru and icon, passed away in 2024, leaving behind a messy legal battle over his estate. The dispute involves his housekeeper and close friend, Teresa, and his brother, Lenny, who were both named co-trustees. Teresa claims she was coerced into resigning, while Lenny accuses her of taking jewelry and working on an unauthorized movie about Richard. The case highlights the...

This episode explores the concept of "Living with your bags packed," which means being prepared for any situation life throws at you. It shares the stories of a deceased woman who lived her life ready for anything and Captain Sully, who successfully landed a plane in an emergency. The podcast emphasizes the importance of being prepared for unexpected events and highlights the story of Anthony Bour...

Today, we’re talking about estate planning—but not in the way you might think. Yes, money and property matter, but what about the wisdom, values, and life lessons you want to pass down? Your estate plan should be a reflection of who you are, not just what you own.

Estate planning goes beyond money and property. It's about preserving memories, traditions, and life lessons for future generations. Simple ways to do this include recording your voice, making videos, digitizing family photos, and writing letters. Estate planning can also align your money with your values, such as setting up educational trusts or charitable trusts. It's about shaping the future an...

A living trust is a great way to make sure your assets are not tied up in probate while your family is trying to carry on with the day-to-day after you are gone. But it is useless unless funded. But how? What does funding your trust look like?

EstateCast aims to educate about estate planning. After signing a living trust, it's important to review the documents for any mistakes and have them corrected. Notify successive trustees and retitle probate assets into the trust to avoid probate. Stay in touch with your attorney for major life events that can impact your estate plan.

The EstateCast episode discusses four important things that spouses should know before one of them dies. These include discussing dying wishes, keeping each other informed about important documents and financial accounts, sharing important contact information, and discussing preferences for burial or cremation. The episode also touches on the topic of remarriage after death and the importance of e...

Wills and trusts both have benefits for estate planning purposes. Each has their own regulations and requirements. And it is not accurate to say one is better than the other. Whether you need one or the other or a blend of both documents depends on your assets and life circumstances.

The podcast "Estate Cast" aims to educate listeners about estate planning and its benefits. This episode focuses on letters of instruction, which are informal documents that provide important information to loved ones after death. They are not legally binding and should be used alongside a will or living trust. The letter can include details about funeral arrangements, financial information, digit...

If you neglect or forget to transfer any accounts and property into a living trust during your lifetime, or fail to designate the trust or anyone else as a beneficiary at your death, the pour-over will ensures that those assets end up in the trust after you die.

Your relationship with your parents and with your own children is important for several reasons, including developing an effective estate plan. Any discussion about estate planning concerns should include a review of the legal relationship between parents and children. In what manner are you a “child” of your parents? Are your children your biological children? Or are they legally adopted? Are the...

If you have a minor child(ren) who depends on you for their survival, you need to make sure that they will be cared for if you are ever unable to care for them. By creating an estate plan, you can address your minor child’s care and custody and provide instructions about how your money and property should be used for their care should something happen to you.