Tag: Estate Planning
Planning to Sell Your Trade Business? What to Do Before Retirement (Ep. 207)

Planning to Sell Your Trade Business? What to Do Before Retirement (Ep. 207)

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How do you sell a trade business and turn decades of work into retirement income? If you’re a contractor, electrician, plumber, landscaper, HVAC professional, or another skilled-trade owner thinking about retirement, the decisions you make before the sale may affect what your business is worth, how much you keep after taxes, and how the proceeds support your retirement. 

In this episode, Larry Heller, CFP®, CDFA®, explains what business owners should consider before selling a trade business. He covers how buyers may determine a company’s value, why clean financial records and documented processes can support a sale, and how reducing owner dependence may make the company easier to transfer. Larry also examines how the sale structure, capital gains taxes, installment payments, retained equity, retirement income planning, and estate considerations work together. Beyond the financial questions, he explores how owners can prepare for their identity, purpose, and daily life after leaving the company.

Larry discusses:

  •  How far in advance you should begin planning to sell a trade business
  • What buyers may review when determining how much a business is worth
  • Why clean financial records and documented processes can support a future sale
  • How owner dependence may affect business value and the transition to a new owner
  • And more!

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Heller Wealth Management is now part of Savant Wealth Management. Savant is a Registered Investment Advisor. This content is provided for informational and educational purposes only and should not be construed as personalized investment advice.

Effective March 31, 2026, Heller Wealth Management joined Savant Wealth Management (“Savant”). A copy of Savant’s current written disclosure Brochure discussing our advisory services and fees is available at www.savantwealth.com/disclosure-brochures/
Why Retirement Is a New Phase of Estate Planning (Ep. 196)

Why Retirement Is a New Phase of Estate Planning (Ep. 196)

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Retirement often changes how your wealth is structured, distributed, and taxed, potentially exposing estate planning gaps that were easy to overlook during your working years.

In this episode, Larry Heller, CFP®, CDFA®, explores why retirement is a new phase of estate planning and what families, especially those with higher net worth, should be reviewing now.

Larry discusses:

  • Why signed estate documents are not the finish line once you retire
  • How beneficiary designations can override your will
  • Common mistakes with outdated beneficiaries, minor children, and second marriages
  • Why asset titling and TOD/POD accounts must align with your estate plan
  • Key considerations for high-net-worth families, including New York’s estate tax cliff
  • The importance of revisiting trusts, executors, and family communication
  • And more!

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Key Decisions to Get Right in Your 60s for a Confident Retirement (Ep. 190)

Key Decisions to Get Right in Your 60s for a Confident Retirement (Ep. 190)

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Planning for retirement in your sixties involves a series of decisions that shape the rest of your life. Many retirees and pre-retirees are unsure how Social Security, healthcare, taxes, investments, and estate planning all work together, and this uncertainty can lead to costly missteps.

In this episode, Larry Heller, CFP®, CDFA®, breaks down the most common mistakes he sees people make during this decade and explains how thoughtful planning can help you approach retirement with clarity and confidence. He highlights real-world scenarios where timing, income needs, and coordination across financial decisions can make a meaningful difference for retirees and their families.

What to expect:

  • The Social Security mistakes many people make at ages 62 to 67
  • How income needs, longevity, and spousal benefits affect the right claiming strategy
  • Why knowing your spending is one of the most powerful pieces of retirement planning
  • Healthcare planning essentials, including Medicare, IRMAA, and long-term care
  • Managing investments in your sixties without becoming too conservative too quickly
  • Missed tax opportunities such as Roth conversions and withdrawal sequencing
  • Emotional preparation and lifestyle planning for a fulfilling retirement
  • Why updated estate documents and beneficiary designations matter
  • And more!

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Later-in-Life Marriages: What You Need to Protect (Ep. 187)

Later-in-Life Marriages: What You Need to Protect (Ep. 187)

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When love finds you later in life, what happens to your legacy?

With over 1,300 stepfamilies forming every day, later-in-life relationships are more common than ever, but so are the financial complexities that come with them. 

Whether you’re remarrying, cohabiting, or just exploring the next chapter, decisions around Social Security, estate planning, asset titling, and medical directives can be emotionally and financially loaded.

We’re laying out what you need to think through before you say “I do” (or move in). Because when assets, families, and emotions all intersect, proactive planning is what brings peace of mind.

What to expect:

  • The critical age 60 rule that can impact your Social Security survivor benefits
  • How to protect your kids from a previous marriage, even if you trust your new spouse
  • What happens to your home if you’re unmarried and pass away first?
  • Why adult children need to be part of your planning conversations
  • And more!

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What Should You Do with Your 401(k) When You Retire? (Ep. 181)

What Should You Do with Your 401(k) When You Retire? (Ep. 181)

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Your 401(k) could be your largest retirement asset, but are you making the most of it?

In this episode of Retirement Unlocked, Larry Heller, CFP®, CDFA®, shares the essential steps to take with your 401(k) as you approach retirement. From rollover decisions and Roth conversions to income generation and estate planning, Larry covers the strategies that can help you avoid costly mistakes and keep more of what you’ve earned.

Key Topics Include:

  • When to consider rolling over your 401(k) to an IRA
  • How Roth conversions can reduce your lifetime tax bil
  • What to know about fees, investment choices, and employer stock
  • How to build a tax-efficient withdrawal strategy
  • The importance of naming the right beneficiaries
  • And more!

Whether you’re retiring soon or planning ahead, this episode is your guide to making smart 401(k) decisions so you can step into retirement with confidence.

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The 6 Retirement Mistakes To Avoid (Ep. 177)

The 6 Retirement Mistakes To Avoid (Ep. 177)

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The market is unpredictable; your retirement plan shouldn’t be.

In this episode of Retirement Unlocked, host Larry Heller, CFP®, CDFA®, breaks down six of the most common (and costly) mistakes people make when planning for retirement. From underestimating how much you can spend to failing to optimize your Social Security benefits, Larry shares why these pitfalls occur and how a process-based retirement plan can help you avoid them.

Whether you’re approaching retirement or already there, this episode provides actionable strategies to help you invest wisely, reduce emotional decision-making, and stay aligned with your long-term financial goals.

Key conversations in this week’s release include:

  • The importance of knowing how much you can truly spend in retirement [00:00:47]
  • Why creating a total return strategy beats relying solely on income [00:03:20]
  • The pitfalls of being too conservative with your investment portfolio [00:07:02]
  • When to start withdrawing from your retirement accounts—not just when RMDs kick in [00:10:32]
  • How to optimize Social Security for the best possible outcome [00:13:17]
  • The critical need for a comprehensive estate plan [00:15:51]
  • And more

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Breaking the Health Insurance Mold: The New Health Plan Playbook with Louis Bernardi [Ep. 176]

Breaking the Health Insurance Mold: The New Health Plan Playbook with Louis Bernardi [Ep. 176]

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Health insurance is one of the largest expenses for many businesses, but are you getting what you’re paying for?

In this eye-opening episode, Larry Heller, CFP®, speaks with Louis Bernardi of BrightPath Benefit Advisors about the outdated and opaque nature of most employer-sponsored health insurance plans. Louis reveals how major carriers prioritize shareholder profits over actual care and explains how his PLAN system and data-driven strategies are helping employers cut costs while providing better healthcare options for employees.

From skyrocketing pharmacy costs to hidden MRI fees, Lou unpacks the waste baked into the system and provides actionable strategies to fix it. This is a behind-the-scenes look at an advanced strategy most employers haven’t even heard of.

Key discussions in this release include:

  • Why traditional health insurance models are broken
  • The hidden data behind skyrocketing healthcare costs
  • How Lou’s PLAN system (Prioritize, Leverage, Align, Navigate) helps optimize benefit design
  • Real-world savings on pharmacy and imaging costs
  • Options for companies of all sizes
  • And more!

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About Our Guest:

Louis Bernardi is the Founder & Benefit Optimization Officer of BritePath.  Lou is the innovator behind BritePath, the benefit strategy that flattens the curve on health insurance costs.  BritePath helps benefit decision makers reset their expectations with advanced analytics & insights that make them and their members more informed health care consumers capable of changing the trajectory of the cost and quality of their employer-sponsored health insurance plan.  Pay More, Get Less is replaced by a High-Performance Health Care Plan that allows them to finally start winning.

Lou is proud to be among the first 150 advisors accepted into Health Rosetta; an eco-system of forward-thinking advisors and solution partners that share his passion for helping people and businesses customize health plans that enhance benefits, improve outcomes and reduce costs.

Lou is also involved with Aspirational Healthcare, Free Market Medical and is a Forbes Business Council member.

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5 Tax Gotchas That High-Net-Worth Individuals Overlook [Ep.173]

5 Tax Gotchas That High-Net-Worth Individuals Overlook [Ep.173]

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What tax traps could derail your retirement plans? 

In this episode, Larry Heller, CFP®, CDFA®, breaks down five major tax “gotchas” that high-net-worth retirees must navigate to protect their wealth and retirement security.

From the impact of required minimum distributions to the looming expiration of the 2017 tax cuts, Larry sheds light on often-overlooked tax challenges. He also explores strategic solutions like Roth conversions and income planning to help retirees minimize surprises and maximize financial confidence.

Key episode discussions include:

  • Required Minimum Distributions (RMDs) and their tax impact [03:09]
  • Expiration of the 2017 Tax Cuts and Job Act [04:04]
  • The “Widow Penalty” and implications for single retirees [07:37]
  • Gifting strategies and estate planning considerations [10:03]
  • The consequences of leaving large IRAs to children [11:05]
  • And more!

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Mastering Retirement Withdrawals: Expert Tips for Smart Distribution Planning [Ep. 169]

Mastering Retirement Withdrawals: Expert Tips for Smart Distribution Planning [Ep. 169]

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Do you know the smartest way to manage your withdrawals in retirement?

In this episode of the Life Unlimited podcast, host Larry Heller, CFP®, CDFA®, shares expert strategies for managing retirement withdrawals to ensure financial stability and tax efficiency. 

Larry covers essential steps for building a smart distribution plan, emphasizing pre-retirement planning and proactive wealth management. The episode explores the benefits of Roth conversions, the impact of the Secure 2.0 Act, and critical topics such as the widow penalty, annuities, and estate planning, all supported by real client insights.

Whether you’re approaching retirement or already retired, this episode offers practical tips to help you minimize taxes, optimize withdrawals, and protect your wealth and legacy. Don’t miss this valuable guide to mastering your retirement finances!

Key episode discussions include:

  • Strategic tax planning to minimize taxes before the distribution phase
  • Understanding different income streams like Social Security, pensions, and retirement accounts 
  • Real client scenarios illustrating the impact of effective and missed strategies
  • The effects of federal and state estate taxes, plus planning for longevity
  • Integrating attorneys and other professionals for a holistic financial plan 
  • And more!

Resources: 

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