#estateplanning

Summary:

In this episode, the hosts are joined by Judd Blitt, an experienced litigator specializing in estate litigation. Judd provides valuable insights and tips for executors on avoiding estate litigation. The discussion covers communication strategies, setting expectations, and navigating potential disputes. Judd also shares common themes in estate litigation and highlights a recent case involving joint executors.

 Key points:

• Judd emphasizes the significance of early and frequent communication with beneficiaries.
• Issues arising from an even number of executors, leading to uncertainties about tiebreakers.
• Good faith and fair treatment, including providing necessary information, are crucial.
• Executors facing disagreements or foreseeing challenges may consider renouncing their role early on to avoid personal liability or conflicts.
• Estate litigators can be viewed as problem solvers, experienced not only in court battles but also in resolving disputes through negotiation and creative solutions.
• Executors should identify potential conflicts early, especially in family situations.
• Contentious matters requiring court intervention can result in delays ranging from months to a year, affecting the resolution of the estate.

Contact Judd: https://www.mltaikins.com/people/judd-blitt/

Hosts:
Jenna Carvalho
The smartest way to choose an executor.
Guardian Estate Company
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Gordon VanderLeek
Give your family a legacy of protection - Wills, Estates and Trusts.
VanderLeek Law
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Summary:

In this episode, we dive into the world of handling financial matters as an executor, specifically dealing with banks and financial institutions. From opening estate accounts to navigating the complexities of frozen assets, we'll provide tips and insights for executors to manage this crucial aspect of estate administration.

Executors play a pivotal role in managing the financial affairs of the deceased, a process that involves dealing with banks and financial institutions. Opening an estate account is a crucial step, allowing executors to collect assets, pay expenses, and handle income flow. In this episode, we discuss practical tips and set expectations for executors dealing with financial institutions.

Key points:

• Executors often need to open estate accounts promptly to handle financial matters efficiently.
• Executors should be prepared to provide necessary documents, including the death certificate and legal paperwork, during the account opening process.
• Executors should inquire about the bank's policies regarding the need for probate and explore possibilities of waiving this requirement in certain circumstances.
• Consider consolidating accounts from the deceased into the estate account, excluding investment accounts that may be better left unchanged.
• Banks often freeze accounts upon learning of a person's death to prevent unauthorized access.
• Executors can negotiate with the bank for interim payments for essential expenses while waiting for the grant of probate.

Hosts:
Jenna Carvalho
The smartest way to choose an executor.
Guardian Estate Company
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Gordon VanderLeek
Give your family a legacy of protection - Wills, Estates and Trusts.
VanderLeek Law
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Summary:

In this episode, we delve into the crucial topic of managing and investing estate assets. As an executor, it's not only about identifying and preserving these assets but also about responsibly growing and protecting their value. We explore the challenges, responsibilities, and considerations involved in making prudent investment decisions for the estate.

This episode emphasizes the importance of investing assets responsibly to maximize the estate's value and meet the expectations of beneficiaries.
 

Key points:

• Executors must first identify and preserve all assets, ensuring their safety and proper insurance coverage.
• Executors must adhere to a prudent investor standard when making investment decisions.
• Careful consideration must be given to how assets are invested based on their nature (business, digital, real estate, stocks, bonds).
• A prompt distribution of assets to beneficiaries can mitigate the executor's risk in managing investments over the long term.
• Seeking input from beneficiaries can provide insights into their preferences and expectations regarding the investment portfolio.
• Understanding the beneficiaries' needs can influence investment decisions and administration strategies.

Hosts:
Jenna Carvalho
The smartest way to choose an executor.
Guardian Estate Company
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Gordon VanderLeek
Give your family a legacy of protection - Wills, Estates and Trusts.
VanderLeek Law
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Instagram

Summary:

In this episode, we delve into the complex world of managing and solving insolvent estates, exploring the challenges and considerations that arise when an estate lacks sufficient assets to cover its debts. Despite the prevailing era of increased wealth, economic uncertainties, inflation, and financial stresses can lead to estates being smaller than expected or even insolvent.

The discussion centers on the crucial steps an executor must take to navigate an insolvent estate effectively. The primary focus is on prioritizing payments, negotiating with creditors, and understanding the legal implications surrounding the distribution of assets.
 

Key points:

• Funeral expenses and pre-death creditors take precedence over other claims.
• Taxes and expenses resulting from the deceased's passing must also be settled before beneficiaries receive their gifts.
• Residual beneficiaries receive what's left after funeral expenses and creditors are paid.
• Utilizing legal protections, such as publishing notices to creditors, helps safeguard executors.
• Declining the role or seeking professional assistance, like the public trustee, may be wise if the estate's intricacies are overwhelming.
• Before intervening in an estate, potential executors should gather comprehensive information on the deceased's financial situation.

Hosts:
Jenna Carvalho
The smartest way to choose an executor.
Guardian Estate Company
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Gordon VanderLeek
Give your family a legacy of protection - Wills, Estates and Trusts.
VanderLeek Law
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Instagram

Summary:

In this episode, Gordon and Jenna are joined by Michael Pierson, owner of Pierson Funeral Services in Calgary, with extensive experience in the funeral industry. They delve into the intricate process of handling funeral arrangements and celebrations of life, emphasizing the critical first steps when a loved one passes away.

Michael, a born-and-raised Calgarian, share insights into the challenges faced by executors and administrators when dealing with funeral arrangements. The conversation emphasizes the importance of addressing financial concerns and the benefits of pre-planning to eliminate confusion. The hosts explore various scenarios where families may struggle with accessing funds and how funeral homes work with them to find solutions. They also delve into the rising trend of pre-planning funerals and the services funeral homes offer beyond the funeral itself. 

Key points:

• Michael elaborates on the challenge of navigating complex family dynamics and relationships when determining authority.
• Benefits of pre-planning funerals, including clarifying the deceased's wishes, reducing family disputes, and streamlining the decision-making process.
• Funeral homes offer checklists and organize information to help families navigate post-funeral tasks, reducing stress for executors.
• Good funeral home service provides valuable education to families, easing the daunting role of dealing with estate matters.
• Families may need to step up and cover funeral costs if funds are not available, with options to seek government assistance.
• Approximately 20% of funeral calls involve pre-planned funerals, with a steady trend in pre-planning among certain demographics.
• After the funeral, funeral homes assist families with essential estate matters and provide guidance on applications like Canada Pension Plan death benefits.

More Information on Michael Pierson:
Pierson Funeral Services
Website: https://www.piersons.ca/
Email: Michael.pierson@piersons.ca

Hosts:
Jenna Carvalho
The smartest way to choose an executor.
Guardian Estate Company
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Instagram

Gordon VanderLeek
Give your family a legacy of protection - Wills, Estates and Trusts.
VanderLeek Law
Facebook
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Instagram

Summary:

In this episode, the hosts delve into the concept of the executor's year, exploring its significance in estate administration. The executor's year refers to the idea that within a year of the date of death, the distribution of the estate should ideally take place.
 
The discussion revolves around legal principles, potential challenges, and the responsibilities associated with the executor's year.

Key points:

• A concept suggesting that the estate distribution should occur within a year of the individual's death.
• Estate administration varies widely based on factors such as business assets, tax issues, litigation, and contentious beneficiary disputes.
• The timeline for estate closure is not rigid, with complexities determining the duration.
• Delays may lead to additional costs, such as extended accountant fees for filing tax returns.
• Executors may consider interim distributions after completing certain estate administration milestones.
• Beneficiaries can cite the executor's year in claims against the estate, emphasizing the need for timely action.

Hosts:
Jenna Carvalho
The smartest way to choose an executor.
Guardian Estate Company
Facebook
LinkedIn
Instagram

Gordon VanderLeek
Give your family a legacy of protection - Wills, Estates and Trusts.
VanderLeek Law
Facebook
LinkedIn
Instagram

On this episode of the Elder Law Report,  Brenton & Greg discuss in detail the pitfalls of Guardianships and how to avoid them.

#guardianship #guardianships #estateplanning #elderlaw #attorney #lawyer #wills #trusts #estates #probate #retirement #retirementplanning #realestate #medicaid #medicare #poa #poas #powerofattorney

In this episode Elder Law attorneys  Greg McIntyre and Brenton Begley, sit down and discuss how to pay for long-term care. 

What are annuities and how can they be a great tool to protect your assets and legacies? Annuities can be a great tool to make sure you have that steady stream of income for a number of years after you retire. Elder Law Attorney Baker sits down with Ryan Begley, Benefits Specialist to give us the details.

#annuities #retirement #retirementplanning #assetprotection #assets #wealth #wealthmanagement #assetproection #assets #longtermcareplanning #realestate #estateplanning #elderlaw #elderattorney #attorney #lawyergreg 

Ryan Begley, Benefits Specialist sits down with Eric Baker, elder law attorney to discuss Long-term care Insurance and how it is beneficial to you when you are putting together your financial documents or when you're older and need some form of care! Learn how Long-term Care Insurance can protect your assets.

#financialplanning #assetprotection #assets #longtermcare #longtermcareplanning #theelderlawguy #lawyergreg #estateplanning #medicaidcrisisplanning #insurance #realestate #assetprotection #assetplanning #financialplanning #longtermcareinsurance #retirement #retirementplanning #medicare #stocks #bonds #annuities

What is a trust and what can it do for you?  There are several types of trusts that can be used to protect your assets. In this episode, Ryan Begley, Benefits Specialist, sits down with Elder Law Attorney, Eric Baker, to discuss what a trust is and how you can use it to help you achieve your financial goals while protecting your assets and preserving your legacy. 

Want to set up a trust? Give us a call today at  888-999-6600 to schedule your free consultation!

When considering planning for your retirement or the future of a loved one, a common question may arise: Why should I have a Financial Power of Attorney? 

Having a Financial power attorney in place with an insurance policy if something should go wrong is a solid plan and we are going to tell you why.  Ryan Begley Benefits Specialist sits down with Eric Baker, Elder Law Attorney to discuss what a Financial Power of Attorney is, what it does, and how it can help you in that type of situation if something should go wrong. 

Stay tuned for more!

When considering planning for your retirement or the future of a loved one, a common question may arise: Why should I have a Financial Power of Attorney? 

Having a Financial power attorney in place with an insurance policy if something should go wrong is a solid plan and we are going to tell you why.  Ryan Begley Benefits Specialist sits down with Eric Baker, Elder Law Attorney to discuss what a Financial Power of Attorney is, what it does, and how it can help you in that type of situation if something should go wrong. 

Stay tuned for more!

What is an annuity and how can it financially benefit you? Were you also aware that annuities could make you money? Say what?! 

In this episode of the McIntyre Financial Report, Ryan Begley,  Benefits Specialist, sits down with a curious potential client and discusses annuities and how beneficial they can be when placed into a trust.

What is an annuity and how can it financially benefit you? Were you also aware that annuities could make you money? Say what?! 

In this episode of the McIntyre Financial Report, Ryan Begley,  Benefits Specialist, sits down with a curious potential client and discusses annuities and how beneficial they can be when placed into a trust.

A great fiduciary can provide valuable meaningful help at important time of your life.  Tom and John discuss the important aspects of this critical role for seniors as they age as well as pitfalls to avoid senior exploitation.

A portion of this podcast was sponsored by F1 For Help, visit f1forhelp.net for more information and to support our sponsor.

Elder Law Attorney Rebecca Eyman will discuss the concept of elder guardianship and conservatorship considerations, the actual process, legal terms, costs, and on-going legal requirements.

Rebecca Eyman
Associate Attorney
rebecca@cwelp.com
(208) 765-3595 (office)
(208) 765-0515 (fax)
Coyle & Wytychak Elder Law
POB 1888, Coeur d' Alene, Idaho 83816
www.cwelp.com

What’s the difference between a Last Will and Testament and a Living Will? Who should use a Trust? Who gets your stuff when you pass away? Don’t leave these questions to be decided by a divided family, a random judge, or worse: creditors. Tune in to know what makes your estate more valuable than just a mansion on the hill with a large bank account.

See omnystudio.com/listener for privacy information.

On this episode, I sat down with my friend (and attorney) Josh DiYanni, at the law offices of Bailey Cavalieri in Downtown Columbus.  As a practicing attorney, Josh’s focus is on small and to mid-sized businesses with their corporate needs, commercial real estate, and of course, estate planning which is what we’re going to discuss today.  

Knowing this isn’t the most exiting topic to listen too, we keep light, fun and informative.  How many of you listening right now don’t have a will or need to update yours?  If that’s you, listen in, and then run to Josh to get one setup!  His contact info will be in the show notes.  If you care about your loved ones and want to prepare for the unknown, it’s not too late until it’s too late!

The topics we hit today are:

• The infamous “if the glove doesn’t fit, you must acquit!”,
• Are all attorneys bad?
• What happens if you don’t have a will like Prince and Bob Marley?,
• And did Tom Petty have a DNR and should you have one?

If you’ve enjoyed this interview with Josh and want to get your legal affairs in order, he can be reached direct at:

jdiyanni@baileycav.com 

Office: (614) 229-3270

This episode goes deep as we interview Law Clerk Haylee Palmer of Marquardt Law Firm, P.C. and retired Reverend Patrick Erickson to discuss the law and the gospel about end of life decisions. What would you do if you were in a coma/incapacitated, but no one knows if you want to wait for a miracle or wait for the light at the end of the tunnel?

See omnystudio.com/listener for privacy information.