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What is an estate plan?
In this episode, Vidhya breaks down the basics of estate planning and why it's essential for everyone. While discussing incapacity or death is difficult, creating an estate plan ensures that your loved ones are protected and your wishes are respected. The conversation covers key estate planning tools like wills, trusts, powers of attorney, and healthcare directives, and explains how these documents help avoid probate, protect your assets, and ensure guardianship for your children if necessary.
Vidhya also dives into the importance of a revocable trust, how it differs from a will, and why many opt for trusts to streamline the process of asset distribution. Furthermore, the episode touches on critical issues like beneficiary designations, durable powers of attorney, and the upcoming changes to the federal estate tax exemption in 2026, helping listeners understand how to keep their estate plan up to date.
In this episode, you will learn:
Chapters:
00:00 - Intro
00:54 - What is an estate plan, and why do you need one?
02:07 - How an estate plan can protect you and your family
03:16 - What is estate planning, exactly?
03:53 - Wills
04:29 - Revocable trusts
05:37 - How a will and revocable trust work together
06:02 - Durable power of attorney
07:17 - Advance healthcare directive and HIPAA consent form
07:43 - Beneficiary designations
08:17 - Additional documents
08:38 - Things to keep in mind for married couples
09:01 - How estate taxes work in California
The content of this podcast is provided for informational purposes only and is not intended to constitute legal advice. You should not rely upon any information contained on this podcast for legal advice. Listening to this podcast is not intended to and shall not create an attorney-client relationship between you and Vidhya Babu or you and the Law Office of Vidhya Babu, APC. Messages or other forms of communication that you transmit to this podcast will not create an attorney-client relationship, and thus information contained in such communications may not be protected as privileged. Neither Vidhya Babu nor the Law Office of Vidhya Babu, APC makes any representation, warranty, or guarantee about the accuracy of the information contained in this podcast or in links to other podcasts or websites. This podcast is provided “"as is,” and does not represent any outcome or result from viewing this channel. Your use of this podcast is at your own risk. You enjoy this podcast and its contents only for personal, non-commercial purposes. Neither Vidhya Babu nor the Law Office of Vidhya Babu, APC, nor anyone acting on their behalf, will be liable under any circumstances for damages of any kind.
© 2025 Law Office of Vidhya Babu. All rights reserved.
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By Vidhya BabuIn this episode, Vidhya breaks down the basics of estate planning and why it's essential for everyone. While discussing incapacity or death is difficult, creating an estate plan ensures that your loved ones are protected and your wishes are respected. The conversation covers key estate planning tools like wills, trusts, powers of attorney, and healthcare directives, and explains how these documents help avoid probate, protect your assets, and ensure guardianship for your children if necessary.
Vidhya also dives into the importance of a revocable trust, how it differs from a will, and why many opt for trusts to streamline the process of asset distribution. Furthermore, the episode touches on critical issues like beneficiary designations, durable powers of attorney, and the upcoming changes to the federal estate tax exemption in 2026, helping listeners understand how to keep their estate plan up to date.
In this episode, you will learn:
Chapters:
00:00 - Intro
00:54 - What is an estate plan, and why do you need one?
02:07 - How an estate plan can protect you and your family
03:16 - What is estate planning, exactly?
03:53 - Wills
04:29 - Revocable trusts
05:37 - How a will and revocable trust work together
06:02 - Durable power of attorney
07:17 - Advance healthcare directive and HIPAA consent form
07:43 - Beneficiary designations
08:17 - Additional documents
08:38 - Things to keep in mind for married couples
09:01 - How estate taxes work in California
The content of this podcast is provided for informational purposes only and is not intended to constitute legal advice. You should not rely upon any information contained on this podcast for legal advice. Listening to this podcast is not intended to and shall not create an attorney-client relationship between you and Vidhya Babu or you and the Law Office of Vidhya Babu, APC. Messages or other forms of communication that you transmit to this podcast will not create an attorney-client relationship, and thus information contained in such communications may not be protected as privileged. Neither Vidhya Babu nor the Law Office of Vidhya Babu, APC makes any representation, warranty, or guarantee about the accuracy of the information contained in this podcast or in links to other podcasts or websites. This podcast is provided “"as is,” and does not represent any outcome or result from viewing this channel. Your use of this podcast is at your own risk. You enjoy this podcast and its contents only for personal, non-commercial purposes. Neither Vidhya Babu nor the Law Office of Vidhya Babu, APC, nor anyone acting on their behalf, will be liable under any circumstances for damages of any kind.
© 2025 Law Office of Vidhya Babu. All rights reserved.