Estate Planning – Page 2

The Great Wealth Transfer, Part 2: Bridging Generations (Ep. 142)

By Life Unlimited | December 13, 2023

Podcast: Play in new window | Download | Embed

Subscribe: Spotify | iHeartRadio | TuneIn | RSS | More

As we delve deeper into the transformative phenomenon of the Great Wealth Transfer, Part 2 of our series further explores the staggering $68 to $74 trillion destined to cascade down over the next decade.

In “The Great Wealth Transfer, Part 2,” Larry Heller, CFP®, CDFA®, guides us through the intricate dynamics of this wealth transition, offering crucial insights for aging parents and their millennial heirs. Larry sheds light on key aspects, empowering millennials to navigate challenging conversations with their Boomer parents and ensuring a seamless, secure transfer of wealth. This episode is a must-listen for those aiming to redefine their financial legacy in the face of this monumental wealth shift.

Key discussion points include:

Strategies for smooth talks about inheritance between the Boomer generation and the Millennial Generation
How advisors navigate the emotional and practical sides of wealth transfer
Insights into fair wealth sharing in complex family dynamics
Essential advice to keep everyone safe from fraud
Understanding the importance of Medicaid and trusts in financial plans & estate planning
A look at the bigger picture of estate planning beyond finances
The uncomfortable but necessary “end-of-life planning” conversation between children and parents
How staying organized can improve estate planning
And much more!

Resources:

Connect with Larry Heller:

The Great Wealth Transfer, Part 1: From Boomers to Millennials (Ep. 141)

By Life Unlimited | November 21, 2023

Podcast: Play in new window | Download | Embed

Subscribe: Spotify | iHeartRadio | TuneIn | RSS | More

Ever heard of the Great Wealth Transfer? It’s about to change everything you thought you knew about money.

Imagine a staggering $68 to $74 trillion cascading down over the next decade or so. Could this make millennials the richest age group the U.S. has ever seen?

In this two-part series, Larry Heller, CFP®, CDFA®, offers a glimpse into the psyche of the baby boomers as they navigate this monumental transition of wealth to the millennials. Learn how you can prepare as Larry covers such topics as taxes, Roth conversions, estate planning, and the benefits of being diligent with your record-keeping.

Part 1 of this Great Wealth Transfer series highlights:

The intricacies of taxes associated with this massive wealth movement
A review of Required Minimum Distributions (RMDs) and Roth conversions
How to engage in family tax planning, including the importance of candid conversations
Eyebrow-raising tales like the Miami Dolphins’ sale driven by unforeseen tax burdens
The often overshadowed aspects of estate planning, such as safeguarding assets and diligent record-keeping
And much more!

Resources:

Connect with Larry Heller:

Life Beyond Divorce: Focusing on the Future with Gabrielle Clemens (Ep. 138)

By Life Unlimited | October 11, 2023

Podcast: Play in new window | Download | Embed

Subscribe: Spotify | iHeartRadio | TuneIn | RSS | More

Juggling the various aspects of your life can not only be tricky, it can be very overwhelming. And then, just when you think you’ve got a handle on it all, a ball comes crashing down. No matter your financial situation, you deserve to come out happy and secure after a divorce.

In this episode of Life Unlimited, host Larry Heller, CFP®, CDFA® focuses on helping women through the divorce process with guidance and expertise from Gabrielle Clemens, an award-winning attorney, and CDFA®. Listen as she shares her knowledge in divorce taxation, estate planning, and finance so women can focus on their future and set concrete goals. She also talks about her book, “Marriage is About Love, Divorce is About Money,” which sheds light on understanding the three levels of divorce, and how to make logical decisions pertaining to your post-divorce life.

Gain insight as Larry and Gabrielle discuss:

How to focus on the future and set concrete goals
Which professionals to include in your “divorce team”
A cost-benefit analysis in decision-making during divorce
The importance of aligning your interests with those of your attorney
Finding happiness
And more

Resources:

“Marriage is About Love Divorce Is About Money” by Gabrielle Clemens
The Gray Divorce Phenomenon: Redefining Your Life and Retirement with Andrew Hatherley (Ep. 133)
Mastering Divorce: Protecting Your Assets and Future with Lisa Zeiderman (Ep. 134)

Connect with Gabrielle Clemens:

Connect with Larry Heller:

Common Errors To Avoid When Passing Money To Your Heirs Upon Death (Ep. 109)

By Life Unlimited | July 21, 2022

Podcast: Play in new window | Download | Embed

Subscribe: Spotify | iHeartRadio | TuneIn | RSS | More

Will your net worth be transferred to your heirs the way you intend it to? How do you know?

In this episode of Life Unlimited, Larry shares some real life stories of major mistakes he has seen with respect to a will, beneficiary or the titling of an asset. Listen in to hear some advice to make sure your estate planning wishes are kept up to date with your current family dynamic.

Larry discusses:

Steps to take to ensure what you want happens after you pass away
How to properly distribute money to a minor child
Three areas to review to avoid common mistakes
The risks of having an outdated will
And more

Resources:

Life Unlimited: Taking Financial Responsibility Before You’re a Widow or Widower (Ep. 108)

Connect With Larry Heller:

10 Common Estate Planning Mistakes Made by Divorcees With Keren Birnbaum, Esq. (Ep. 97)

By Life Unlimited | December 6, 2021

Podcast: Play in new window | Download | Embed

Subscribe: Spotify | iHeartRadio | TuneIn | RSS | More

You don’t know what you don’t know. Whether you are contemplating divorce or are in the process, you want to protect yourself by having the proper communication and documentation.

In this episode, Larry Heller talks with Keren Birnbaum, Esq. a partner with Schwartz Ettenger, PLLC who focuses on estate planning, trust and estate administration, and elder law. Keren shares 10 common estate planning mistakes that divorcees need to be aware of to retire right.

Keren discusses:

Repercussions of not having estate planning documents
The mistake of not updating your estate planning documents
Not updating beneficiary designations in your retirement accounts and insurance policies
Why it’s critical to educate yourself on the assets you own
And more

Connect With Keren G. Birnbaum, Esq:

Connect With Larry Heller:

About Our Guest:

Keren G. Birnbaum, Esq. is a Partner with Schwartz Ettenger, PLLC where she concentrates her practice in the areas of Estate Planning, Trust and Estate Administration and Elder Law. She has over 10 years of experience advising clients on how to protect themselves, their loved ones and their business in the event of death, incapacity or disability.

Ms. Birnbaum earned her law degree at Hofstra University School of Law and her Bachelor’s Degree at Brandeis University. She is admitted to the New York State Bar, is a member of the New York State Bar Association, Queens County Bar Association, Brandeis Association, and is an active member of the Elder Law and Trusts and Estates Sections of the New York State Bar Association. Ms. Birnbaum has also lectured and published articles on various elder law and estate planning issues.