Doug chats with Sean Mullaney (The FI Tax Guy) about the essential elements of estate planning.  Sean covers the importance of planning for everyone (not just the wealthy), stresses the significance of having a will, updating beneficiary designations, and creating trusts to protect assets & ensuring financial security for loved ones.  Special attention is given to estate planning in regards to kids (providing guardianship) and working with the correct professionals to plan for taxes.

The discussion is intended to be for general educational purposes and is not tax, legal, or investment advice for any individual. Doug and the Mile High FI podcast do not endorse Sean Mullaney, Mullaney Financial & Tax, Inc. and their services. Guest appearances on the podcast do not constitute their endorsement of any sponsors of the Mile High FI podcast.

Looking for help with your estate plan?  Trust & Will provides online tools for creating, you guessed it… trusts and wills.  For those who don’t have any estate planning documents in place, this could be a good option to get started.  We’re affiliates so we can earn a commission if you sign up.  Thanks for the support.

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Need a fee only advisor?  Nectarine is a network of financial advisors where you just pay for investing & planning advice.  Advisors don’t manage your money, sell products, or earn commissions. We’re affiliates so we can earn a commission if you sign up.  Thanks for the support.

If you have any tips for talking about death & estate planning come share over at Buy Me A Coffee.

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**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won’t even make such a claim. You shouldn’t take the info as financial, legal, or tax advice. We aren’t certified financial planners or advisors. We’re not qualified for much. So get advice from professionals.**

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Email the show: [email protected]

0:00 Introduction

2:59 Importance of estate planning

8:10 Four funnels

14:17 Beneficiary designations & revocable living trusts

20:52 Tips for discussing estate planning

25:42 Planning for kids

33:16 Working with financial planners & lawyers

36:43 Tax planning

45:53 Discussions with aging parents

52:45 Soundcheck – Home renovations