There are four ways to transfer assets to your loved ones: joint ownership, sole ownership, sole ownership with beneficiary designations, and via a trust. Depending on your situation, you could use one or more of these methods. It is vitally important, however, that you treat the four methods as related elements in an overarching estate plan.
Jeff takes you through the proper use cases and tax implications of each wealth transfer method. He issues a reminder that family members with special needs require unique consideration within the overall estate plan. And, he encourages you to review your legal and financial arrangements to ensure that they are well coordinated and aligned with your long-term goals.
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Jeff reflects on his many years as an attorney and shares the advice he would give himself as a young lawyer. As it turns out, his advice consists of universal truths: think differently; keep learning and growing; be clear, consistent, and honest in your communications; accept that people need to make their own decisions in their own time; nurture and value your relationships; and, most of all, cherish your loved ones and tell them how you feel. Apple: https://podcasts.apple.com/us/podcast/reflecting-on-universal-truths-jeffs-advice-to-his/id1634278675?i=1000632666319 YouTube: https://youtu.be/O3LeJuvnnr4 Spotify: https://open.spotify.com/episode/2C2Xh0q5o6BhtWTK7cYKtO?si=F6k6_r8dTzaXAdKvnQjsGg
Episode 64: Dont Gamble with Your Legacy: Choosing the Right Professionals for Elder Law and Estate Planning Jeff answers another set of commonly asked questions in this last part of our series. But keep your questions coming! Along with guest interviews and deep dives into special topics, we will continue to address your questions periodically. And, of course, were happy to assist you in our workshops, meetings, and all of the ways we interact. Apple: https://podcasts.apple.com/us/podcast/dont-gamble-with-your-legacy-choosing-the/id1634278675?i=1000631821067 YouTube: https://youtu.be/ftFVvtreyMw Spotify: https://open.spotify.com/episode/6mZanpnQgggg8F5Cwo4HDX?si=uQOIDttpTAmi6tyMLg4VWQ
Episode 63: Cracking the Code: Estate Planning FAQs Unveiled As we continue our series, Jeff discusses several misconceptions surrounding elder law, asset protection, and estate planning. These questions apply to everyone, regardless of financial status. Whether hes talking about basic wills, different types of trusts, or the significance of the red wagon, Jeff uses relatable examples to make the concepts easy to understand. With that clarity comes the realization that proper planning is essential to ensure that you are taken care of and that you leave a lasting legacy for your loved ones. Apple: https://podcasts.apple.com/us/podcast/cracking-the-code-estate-planning-faqs-unveiled/id1634278675?i=1000631048145 YouTube: https://youtu.be/V3DiuTnqoAo Spotify: https://open.spotify.com/episode/7kobEqyzVTdVkdqRBpB6Mv?si=uvNR-XAATcSkH2W2J2S1Ew