Complete Estate Planning

We dedicate this show to answer some mailbag questions that have come in from our listeners. We will discuss protecting a company's assets, if a trust is necessary for one retirement account, and liability protection. Contact: 513-463-6789 info@CincinnatiEstatePlan.com

On this episode, we’ll talk about various ways to challenge, undo, or override an estate plan. We’ll also discuss the circumstances when this might be appropriate. Contact: 513-463-6789 info@CincinnatiEstatePlan.com

Everyone has heard the famous quote from Benjamin Franklin “In this world, nothing is certain except death and taxes.” Although taxes are often discussed with a financial advisor and CPA, many families don’t consider the tax consequences of their estate plan. Here are the taxes to be aware of. Contact: 513-463-6789 info@CincinnatiEstatePlan.com

Many types of accounts allow the owner to designate beneficiaries to receive the account after the owner dies. This can be a quick, easy, and no-cost way to pass on the account after someone dies. However, the ease of setting up beneficiary designations can trap some into assuming their estate plan is “done”. It is one piece of the puzzle, but not the entire puzzle. Contact: 513-463-6789 info@Cinc...

Most times, people look towards setting up a trust as a flexible, efficient, private, customized way to manage an inheritance plan for their loved ones. However, because of its flexibility, a trust can be used as a “utility knife” and help families and small businesses in a variety of other situations. Contact: 513-463-6789 info@CincinnatiEstatePlan.com

It is always prudent to work with experts who specialize in a certain area. Use your estate planning attorney for your estate plan, your financial advisor for your investments, your CPA for your taxes, etc. Although all of your professionals should “stay in their own lane”, the work that they do is interconnected. Contact: 513-463-6789 info@CincinnatiEstatePlan.com

Setting up a trust is a great way to protect your loved ones after you’re gone. However, just signing the legal documents is only HALF of the job. You not only have to establish the trust, but you have to make sure your trust will actually control and protect your assets the way you want. Contact: 513-463-6789 info@CincinnatiEstatePlan.com

Many families choose a trust as the best way to manage and distribute their inheritance after they pass away. However, people are surprised to find out that they still need a will EVEN IF they have a trust. Contact: 513-463-6789 info@CincinnatiEstatePlan.com

It is impossible to predict the future. However, families with underage beneficiaries often have to work with their attorney to do just that. When it comes to leaving an inheritance to children, grandchildren, etc., a good attorney won’t just ask “how much” to give each person. He or she will also ask “when”, “why”, and “what for”. Contact: 513-463-6789 info@CincinnatiEstatePlan.com

Most of the focus on this show is about properly setting up your own plan to protect your family and your life savings. However, many people find themselves on the other side of the equation. What should you do if someone names you in their own estate plan? Contact: 513-463-6789 info@CincinnatiEstatePlan.com

There are two schools of thought on estate planning. The first (which we disagree with) is that estate planning is merely a commodity. All plans are the same. The second (and proper viewpoint) is that estate planning is a professional service. Let’s outline the differences. Contact: 513-463-6789 info@CincinnatiEstatePlan.com

With tuition costs continuing to rise, more and more families are taking out student loans to pay for higher education. Many times, the student AND the parent both have loans. What happens to them when you die? Contact: 513-463-6789 info@CincinnatiEstatePlan.com

People always want to pass their estate smoothly to their heirs after they pass away. Many conversations with families revolve around who gets what. An even better conversation incorporates questions about why, when, and how the inheritance will pass. However, there are certain situations where your heirs may not even want what you leave to them. Contact: 513-463-6789 info@CincinnatiEstatePlan.com

Picking the right fiduciaries is one of the most important parts of estate planning. After all, you need to decide who will be responsible for taking care of you, your finances, your inheritance, and your children! Once you’ve set your plan up, should you tell the people you have chosen? How much do they need to know? Isn’t some of this private? Contact: 513-463-6789 info@CincinnatiEstatePlan.com

One of the hardest parts of estate planning is deciding who you can count on to carry out your wishes. While they are required to take care of you/your estate and they must follow your instructions, they will have some leeway and decision-making power on their own. Contact: 513-463-6789 info@CincinnatiEstatePlan.com

Setting a transfer on death (aka TOD or POD) or a beneficiary designation on an account can be an easy way to direct the inheritance after you’re gone. It is quick, (usually) easy, and best of all, you don’t need to hire a professional to do it! However, there are a number of pitfalls to watch out for and situations where they may not go as planned. Contact: 513-463-6789 info@CincinnatiEstatePlan....

Passing property along can be a challenge, but trying to do so with multiple parties involved gets even more difficult. Today we're going to run through a long list of considerations and questions we pose to clients that want to include a vacation home in their estate plan. Contact: 513-463-6789 info@CincinnatiEstatePlan.com

Trusts are great estate planning tools for families but is one enough? Is there ever a situation where you might need more than one? We'll dive into the scenarios on this episode. Contact: 513-463-6789 info@CincinnatiEstatePlan.com

This episode is all about how to build an estate plan if you have a child with special needs. You may wish to leave them an inheritance, or set up proper care for them once you pass. Careful planning beforehand is absolutely crucial in this area especially if the child is receiving assistance from the government. Nick will talk about some efficient strategies he uses in his practice and some consi...

Social media accounts are as popular as ever. Most people in USA have accounts on many different platforms. Cryptocurrency has gotten a lot of press recently (Bitcoin being the most popular). However, it brings up a broader question about digital assets and how they work within your estate plan. While electronic/digital accounts, banking, etc. can make things easier in your everyday life, it can m...

Many people have pets. Sometimes, they love them more than their own children (or at least they are better behaved). Some require more specialized care or attention than others. Some are expensive to care for. Many families are worried about their pets going to a shelter if no one wants to take care of them (hopefully at least a no-kill shelter). Contact: 513-463-6789 info@CincinnatiEstatePlan.com

Most of what we talk about is how to make the best of a tough situation (getting sick, passing away), and how to make sure things go smoothly. Good estate planning is a selfless act, you want to make sure things are set up properly and easily for those you leave behind. But…what if you DON’T want to make things easier for your family? What would you do? Here are Nick’s tips on what to do if you wa...

Might seem counter-intuitive to what we’ve already discussed, but, dead people do have an estate plan (even if they didn’t write one themselves before passing). Each state has a default formula to fall back on if there is no plan. However, it usually doesn’t go the way you want it to. Contact: 513-463-6789 info@CincinnatiEstatePlan.com

There are tons of scams/rip offs, etc. out there. However, for someone dealing with a probate case or buying/selling a house, they seem to get bombarded. Why is this happening, how do they get your information, and what can you do to protect yourself? Contact: 513-463-6789 info@CincinnatiEstatePlan.com

We rip on probate court a lot in this podcast. What can I say, it is a government-run inheritance program? It does have its purpose, and it is certainly needed as a backup. However, here are some specific situations where the headaches of probate can be amplified (and when it might be important to look at ways to avoid probate). Contact: 513-463-6789 info@CincinnatiEstatePlan.com