Finance for Physicians

What You Need To Know About Estate Planning

Listen Later

It’s important for everybody to get their estate planning done and done right, especially if they have others who depend on them. Anything you can do ahead of time reduces the pain and pressure of disputes and arguments among loved ones.

In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about the basics of estate planning—how it works, what tools to use, and what documents to complete.

Topics Discussed:
  • 3 Essential Estate Planning Documents:
    • Financial Power of Attorney: Durable, Springing, and other types
    • Healthcare Records/Files: Living Will and Healthcare Agent
    • Last Will and Testament: Designate executor, guardian, and assets
    • What happens if you don’t have a will? Depends on state laws
    • Characteristics to Consider: Who to name and why in documents?
    • Reminder: Not done until documents are signed and notarized
    • What’s the best option? Do-it-yourself legal documents vs. hiring an attorney
    • Trust: Legal entity that holds assets and directs proceeds/funds for future use
      • Links:

      Estate Planning Organizer

      Nolo

      LegalZoom

      Contact Finance for Physicians

      Finance for Physicians

      ...more
      View all episodesView all episodes
      Download on the App Store
      Finance for PhysiciansBy Daniel Wrenne
      • 4.7
      • 4.7
      • 4.7
      • 4.7
      • 4.7

      4.7

      39 ratings

      More shows like Finance for Physicians

      View all
      Afford Anything | Make Smart Money Choices by Paula Pant, Personal Finance Expert | Cumulus Podcast Network

      Afford Anything | Make Smart Money Choices

      3,564 Listeners

      Money Guy Show by Brian Preston and Bo Hanson

      Money Guy Show

      3,242 Listeners

      Your Money, Your Wealth by Your Money, Your Wealth

      Your Money, Your Wealth

      801 Listeners

      Retirement Answer Man by Roger Whitney, CFP®, CIMA®, RMA, CPWA®

      Retirement Answer Man

      1,331 Listeners

      ChooseFI | Financial Independence Podcast by ChooseFI

      ChooseFI | Financial Independence Podcast

      5,153 Listeners

      White Coat Investor Podcast by Dr. Jim Dahle of the White Coat Investor

      White Coat Investor Podcast

      2,450 Listeners

      Stay Wealthy Retirement Podcast by Taylor Schulte, CFP®

      Stay Wealthy Retirement Podcast

      696 Listeners

      BiggerPockets Money Podcast by BiggerPockets

      BiggerPockets Money Podcast

      3,063 Listeners

      Bogleheads On Investing Podcast by bogleheads

      Bogleheads On Investing Podcast

      617 Listeners

      Sound Investing by Paul Merriman

      Sound Investing

      349 Listeners

      Money Meets Medicine by Doctor Podcast Network, Jimmy Turner MD

      Money Meets Medicine

      229 Listeners

      The Personal Finance Podcast by Andrew Giancola

      The Personal Finance Podcast

      1,417 Listeners

      The Rob Berger Show by Rob Berger

      The Rob Berger Show

      206 Listeners

      Personal Finance for Long-Term Investors by Jesse Cramer

      Personal Finance for Long-Term Investors

      164 Listeners

      Retirement Planning Education, with Andy Panko by Andy Panko

      Retirement Planning Education, with Andy Panko

      1,069 Listeners