Complete Estate Planning

Our podcast listeners frequently send in questions for Nick. In today's show, we've chosen a few questions to chat about on the air. For example, one listener asks if they need an estate plan since they're single, childless, and have a financially independent family. Another asks if there is a way to assist their aging mother with her finances without entirely removing her independence through estate planning. Stay tuned for some valuable insights here on Complete Estate Planning!

Contact:  

513-463-6789  

[email protected]

https://cincinnatiestateplan.com/contact/ 

You've probably heard the old saying, "What you don't know can't hurt you." But when it comes to inheritance conversations with your children, that isn't entirely true. Stay tuned as we share some crucial considerations for navigating these estate-planning conversations with your loved ones. 

Contact:  

513-463-6789  

[email protected]

https://cincinnatiestateplan.com/contact/ 

With home prices continuing to climb, a house ends up being the most valuable asset for many families. However, it can also be the most difficult to deal with in an inheritance after someone passes away. One of the biggest issues people run into is the owner passing away while the house still has a mortgage or a line of credit against it.

Contact:  

513-463-6789  

[email protected]

https://cincinnatiestateplan.com/contact/ 

The Corporate Transparency Act (which was enacted in January of 2021) has taken effect as of January 2024. Under the new law, small businesses have new disclosure and reporting requirements with the Financial Crimes Enforcement Network. This law is retroactive and includes businesses that were already in existence BEFORE the CTA went into effect. Along with the new requirements, there are significant fines/penalties for being in violation of the law. Listen in as we talk about what you need to know!

Contact:  

513-463-6789  

[email protected]

https://cincinnatiestateplan.com/contact/ 

Many people automatically think of how to handle or “plan” for their assets when estate planning comes to mind. However, inheriting someone’s assets is only one piece of the puzzle. This is why someone asking “How much money do I need to have before I create an estate plan?” is always the wrong question. Let’s cover a number of estate planning goals that have nothing to do with someone’s assets.

Contact:  

513-463-6789  

[email protected]

https://cincinnatiestateplan.com/contact/ 

An important (and often overlooked) part of estate planning involves arranging for a person to have their medical needs taken care of. This usually involves a combination of appointing a decision maker (your power of attorney agent or surrogate, depending on the state you live in) and using an advanced directive to affirmatively state your wishes. Most states include certain decisions where you can either make the decision yourself or leave the decision to your healthcare decision-maker.

Contact:  

513-463-6789  

[email protected]

https://cincinnatiestateplan.com/contact/ 

We have listeners from all over the country reach out and ask us estate planning questions, so we thought it would be helpful to answer some of those questions on the podcast today. One listener asks how to handle partial business ownership interest in a small business. Another listener asks about the most effective and beneficial way to leave a donation to charity upon their passing. Stay tuned to see how Nick answers these questions and more!

Contact:  

513-463-6789  

[email protected]

https://cincinnatiestateplan.com/contact/ 

We’ve spent many episodes discussing how important trust funding is to your estate plan (assuming a trust is a part of your plan). However, the process can be tedious at times. Many attorneys don’t handle the trust funding for the clients (or only provide minimal guidance), which can lead to further trouble. On top of that, various banks, employers, and investment firms can often frustrate clients even further. A good, experienced attorney should be able to navigate clients through any roadblocks, warn them of potential issues, and have options for how to finish the job when issues come up.

Contact:  

513-463-6789  

[email protected]

https://cincinnatiestateplan.com/contact/ 

Have you ever wondered what happens to assets that you don't have full control over, like stock options or family businesses? Listen in as we chat about the complexities of assets that come with strings attached. What can you do with these while you're alive, and what happens when you're gone? Tune in for those answers and more on today's show!

Contact:  

513-463-6789  

[email protected]

https://cincinnatiestateplan.com/contact/ 

Picture this: You leave your lawyer's office after completing your estate planning documents. You might think this is the end of the process, but that's not necessarily the case. Stay tuned as we discuss the arrangements you need to make beyond the legal paperwork to ensure your affairs are in order.

Contact:  

513-463-6789  

[email protected]

https://cincinnatiestateplan.com/contact/