Month: December 2024

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7 Costly Financial Planning Mistakes You’re Making (And How to Avoid Them!) [Ep. 167]

7 Costly Financial Planning Mistakes You’re Making (And How to Avoid Them!) [Ep. 167]

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How well do you truly know your tax bracket? Did you know that not knowing enough could cost you thousands?

Get ready to learn some critical financial planning mistakes that might secretly derail your financial security.

This week on the Life Unlimited podcast, Larry Heller identifies the seven most common financial mistakes people make and how to avoid them—such as lacking knowledge about their tax bracket and neglecting estate planning updates. 

Key conversations include:

  • Understanding Your Tax Bracket: Learn why knowing your tax bracket is essential for maximizing opportunities like Roth conversions and minimizing overpayments.
  • Zero Capital Gain Brackets: Discover how to take advantage of tax-free gains to grow your wealth.
  • Investment Pitfalls: Avoid the dangers of chasing past investment performance and align your strategy with your goals.
  • Estate Planning Essentials: Ensure your estate planning documents are up to date and reflect life’s changes.
  • Liability Insurance: Protect yourself and your family with adequate coverage, including an umbrella policy for uninsured motorist protection.
  • Heir and Spouse Preparedness: Steps to prepare your loved ones, including non-financial spouses, for managing wealth.
  • Spending and Withdrawal Strategies in Retirement: Avoid overspending while ensuring your savings last throughout your lifetime.

Actionable Takeaway: Through practical examples and insightful advice, Larry highlights the importance of staying informed and proactive with your finances. 

 

Connect with Larry Heller: 

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Protecting What Matters Most: Estate Planning for Women with Allison Dolzani [Ep. 166]

Protecting What Matters Most: Estate Planning for Women with Allison Dolzani [Ep. 166]

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Estate planning goes beyond documents—it’s about protecting loved ones, achieving financial independence, and aligning plans with long-term goals.

In this episode of the Life Unlimited podcast, host Larry Heller, CFP®, CDFA®, sits down with Allison Dolzani, estate planning attorney and partner at Julie Kessler, LLP, to explore strategies tailored to women navigating major life transitions like divorce, widowhood, or retirement.

They discuss critical topics, including naming guardians for minor children, safeguarding inherited assets, and maintaining up-to-date estate plans. Allison also emphasizes the importance of foundational documents like healthcare proxies, powers of attorney, and trusts in creating a solid plan.

With actionable insights on avoiding costly mistakes and tailoring plans to personal and family goals, Allison provides a clear roadmap for building an estate plan that safeguards your future and protects what matters most.

Key Points Covered:

  • Unique Considerations for Women: Proactively update estate plans after major life events and align documents with custody agreements.
  • Guardianship Essentials: Designate primary and successor guardians to ensure your children are cared for according to your wishes.
  • Critical Documents: Secure essential documents such as wills, trusts, healthcare proxies, and powers of attorney for comprehensive protection.
  • Managing Inherited Assets: Protect personal wealth from marital commingling and preserve assets for future generations.
  • Legacy Planning: Create a lasting impact by incorporating charitable contributions or personal wishes into your estate plan.
  • Tax Planning: Navigate challenges like New York’s “cliff tax” and take advantage of exemptions tailored for single women.
  • Empowering Financial Independence: Use estate planning to confidently manage transitions, secure financial stability, and achieve long-term goals.
  • And much more!

Actionable Takeaway: Estate planning is vital to stabilizing your family’s future and building financial independence. Start today by consulting an estate planning professional to create a plan tailored to your unique needs.

Connect with Larry Heller: 

Connect with Allison E. Dolzani: 

About Our Guest:

Allison Dolzani specializes in estate planning, estate administration, and Surrogate’s Court practice. Allison represents domestic and international individuals and multigenerational families in sophisticated estate planning, emphasizing minimizing the impact of gift, estate, generation-skipping transfer, and income taxes.

Allison joined the firm in September 2018. Before joining Julie Kessler LLP, Allison was an associate at a New York City law firm focused on estate administration and litigation.

Allison earned her law degree from Touro Law School. While in law school, Allison served as Research Editor of Touro Law Review and authored Intellectual Property and Constitutional Law articles.  Allison graduated magna cum laude from Western New England University with a Bachelor of Arts in Philosophy.