In this episode of the Planned Solutions Podcast, we explore critical financial planning topics that can have a lasting impact on your wealth, legacy, and peace of mind—starting with estate planning, an area where many financial plans fall short. While creating an estate plan can feel time-consuming or costly, failing to plan often results in far greater expenses, court involvement, and stress for loved ones. We discuss why investing time and money in proper estate planning can lead to long-term savings, smoother transitions, and confidence in the event of death or disability.

We also reflect on the retirement of legendary investor Warren Buffett, who stepped down from Berkshire Hathaway at the end of 2025. Buffett’s disciplined, common-sense, and fundamentally sound investment philosophy has shaped generations of investors and advisors. In this episode, we examine the lessons his career offers investment managers and individuals who want to build wealth the right way—ethically, patiently, and with clarity.

Additionally, we take a closer look at Irrevocable Life Insurance Trusts (ILITs) and their evolving role in estate tax planning. While higher federal estate tax exemptions have reduced their popularity, ILITs can still provide meaningful benefits for individuals with potentially large estates. We wrap up with insights from the Planned Solutions Incorporated Office Bulletin Board, including important reminders for preparing your 2025 income tax return, gathering essential tax documents like Forms 1098 and 1099, and navigating the growing shift toward online tax forms.

Plus, a look at the Planned Solutions Incorporated Office Bulletin Board -

Before preparing your 2025 income tax return(s), it is important to make sure that you have all tax forms and other tax information that you need. In some cases, this may mean being patient until all your investment forms have been issued. In other cases, it may mean being careful to thoroughly go through your mail looking for tax forms. For example, mortgage companies often send out Form 1098, which reports the interest paid during the year, with the monthly mortgage statement. So, it is important to sort through all the pages in the mailing to see if your tax form was included with the most recent statement. Also, more and more companies are posting tax forms online rather than mailing them.

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