Complete Estate Planning podcast

25:36

Losing a spouse is an emotionally overwhelming experience, and in the midst of grief, legal and financial matters often feel like the last thing anyone wants to think about. But making sure your estate plan reflects your new reality is one of the most important steps you can take after a loss. This episode walks through the essential updates and reviews that surviving spouses need to consider. Here’s some of what we discuss in this episode: 📋 Why reviewing fiduciaries is your first priority 🏛️ How inheritance plans can (and often should) shift 🧾 Updating your final wishes and medical directives 🔄 What to do with assets, accounts, and beneficiaries 🕊️ How to grieve, breathe, and move forward at your pace Our website: https://cincinnatiestateplan.com/ Phone: 513-463-6789 Contact our team: info@CincinnatiEstatePlan.com Schedule your no-cost consultation: https://cincinnatiestateplan.com/contact/ Join us for our next workshop: https://cincinnatiestateplan.com/workshops/ Check out our free resources here: https://cincinnatiestateplan.com/free-resources/ Check us out on YouTube: https://www.youtube.com/channel/UCf3WXpR0a-tMvimbMT_lkMA?sub_confirmation=1…

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Building Flexibility Into a Trust for Life Milestones 9:08

11 днів тому9:08

9:08

Today, Nick answers a thoughtful question from parents trying to strike the right balance: they want their kids to receive their inheritance at age 25, but also want to carve out early access for a first car or a home down payment. The catch? They’re worried about getting the numbers wrong, especially with inflation, rising costs, and the unpredictability of the future. Nick breaks down two smart strategies to help parents plan with confidence. Here’s some of what we discuss in this episode: 📆 Why age-based inheritance isn’t always enough 🚗 Planning for car purchases without overdoing it 📈 How to account for inflation in your estate plan 🧠 Why discretion and flexibility are your best tools Our website: https://cincinnatiestateplan.com/ Phone: 513-463-6789 Contact our team: info@CincinnatiEstatePlan.com Schedule your no-cost consultation: https://cincinnatiestateplan.com/contact/ Check us out on YouTube: https://www.youtube.com/channel/UCf3WXpR0a-tMvimbMT_lkMA?sub_confirmation=1…

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Why You Need Two Powers of Attorney -- Not Just One 24:14

18 днів тому24:14

24:14

When people hear the term “power of attorney,” they often assume it’s a one-size-fits-all document that gives someone authority to handle everything if they become incapacitated. There are actually two completely different types of powers of attorney. In this episode, Nick breaks down how each one has its own purpose, responsibilities, and potential pitfalls. You’ll learn how they’re different, what each involves, and why choosing the right person for each job can make a world of difference in how smoothly things go if you can’t speak or act for yourself. Here’s some of what we discuss in this episode: ⚖️ Different jobs, different documents and one won’t cover it all 🚫 One POA = Incomplete protection for your loved ones 👥 Pick wisely: the right person for each role matters ⏳ Avoid chaos: clear documents now = fewer problems later Our website: https://cincinnatiestateplan.com/ Phone: 513-463-6789 Contact our team: info@CincinnatiEstatePlan.com Schedule your no-cost consultation: https://cincinnatiestateplan.com/contact/ Check us out on YouTube: https://www.youtube.com/channel/UCf3WXpR0a-tMvimbMT_lkMA?sub_confirmation=1…

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Who Should Be Your Corporate Trustee? 9:13

25 днів тому9:13

9:13

When you set up a trust but don’t have a friend or family member you trust to manage it, what’s your next move? In this episode, we answer a question on a sensitive and critical decision in estate planning: how to choose the right corporate trustee? Should you go with a big national firm or a smaller local institution? Does it matter if you already have a relationship with the bank or company? Here’s some of what we discuss in this episode: 🔍 What to consider before choosing your trustee 🧑‍⚖️ Pros & cons of large vs. local trust companies 🗺️ Why your family’s location matters more than you think 🗂️ How existing relationships can streamline the process Our website: https://cincinnatiestateplan.com/ Phone: 513-463-6789 Contact our team: info@CincinnatiEstatePlan.com Schedule your no-cost consultation: https://cincinnatiestateplan.com/contact/ Check us out on YouTube: https://www.youtube.com/channel/UCf3WXpR0a-tMvimbMT_lkMA?sub_confirmation=1…

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What Happens to Bills and Debts After Someone Dies? (A Guide for Families and Executors) 29:02

5 weeks тому29:02

29:02

When someone passes away, their bills and debts don’t just disappear, but that doesn’t mean their family has to rush to pay everything immediately. In this episode, we explain how debts are handled after death, what families (especially executors) need to do, and what to expect if no one has access to the deceased’s money yet. We’ll also clear up common fears about personal liability and explain how reimbursement works when someone covers bills out of pocket. Here’s some of what we discuss in this episode: ⚠️ Why family members are usually not personally liable 📆 Which bills can wait — and which can’t 🏠 How to prevent foreclosure, damage, or utility shutoffs 🧾 How to get reimbursed if you front estate-related expenses Our website: https://cincinnatiestateplan.com/ Phone: 513-463-6789 Contact our team: info@CincinnatiEstatePlan.com Schedule your no-cost consultation: https://cincinnatiestateplan.com/contact/ Join us for our next workshop: https://cincinnatiestateplan.com/workshops/ Check out our free resources here: https://cincinnatiestateplan.com/free-resources/ Check us out on YouTube: https://www.youtube.com/channel/UCf3WXpR0a-tMvimbMT_lkMA?sub_confirmation=1…

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What Options Do You Have for Dividing Your Home? 6:42

7 weeks тому6:42

6:42

Most parents try to split up everything evenly for their children but how do you do that with a home? While bank accounts and retirement funds can be easily divided, a house poses unique challenges. It’s a very common estate planning discussion in our office and one that we recently got asked about. What are the options for splitting a home between multiple children? You can’t exactly slice a house in half. Would they be forced to sell it? Today, we’ll walk through the practical and legal considerations of dividing an asset like this, offering insight into different approaches depending on whether the home is to be sold, kept, or passed on with sentimental value in mind. Here’s some of what we discuss in this episode: 💡 What to do if one heir wants to keep the house 🧾 Options for equalizing inheritance when a home is involved ⚖️ Why co-ownership among siblings can create future conflict 📋 Why every plan needs flexibility and clear communication Our website: https://cincinnatiestateplan.com/ Phone: 513-463-6789 Contact our team: info@CincinnatiEstatePlan.com Schedule your no-cost consultation: https://cincinnatiestateplan.com/contact/ Join us for our next workshop: https://cincinnatiestateplan.com/workshops/ Check out our free resources here: https://cincinnatiestateplan.com/free-resources/ Check us out on YouTube: https://www.youtube.com/channel/UCf3WXpR0a-tMvimbMT_lkMA?sub_confirmation=1…

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One of My Children Owes Me Money—How Do I Account for That in My Estate Plan? 26:42

8 weeks тому26:42

26:42

Lending money to a child is common, whether it's for buying a home, starting a business, or getting through a tough financial patch. But when it comes time to plan your estate, that unpaid loan can create real complications. Should you forgive the debt when you die? Or treat it as an advance on that child’s inheritance and reduce what they receive? An estate plan will utilize two primary approaches to resolving these loans, and we’ll discuss the pros and cons to each. Here’s some of what we discuss in this episode: ⚖️ The pros and cons of forgiving vs. equalizing through inheritance 📜 Why documentation and clarity in your estate plan are essential 🤝 Avoiding family conflict with open communication and planning 🧾 The importance of promissory notes and written records Our website: https://cincinnatiestateplan.com/ Phone: 513-463-6789 Contact our team: info@CincinnatiEstatePlan.com Schedule your no-cost consultation: https://cincinnatiestateplan.com/contact/ Join us for our next workshop: https://cincinnatiestateplan.com/workshops/ Check out our free resources here: https://cincinnatiestateplan.com/free-resources/ Check us out on YouTube: https://www.youtube.com/channel/UCf3WXpR0a-tMvimbMT_lkMA?sub_confirmation=1…

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Ethical vs. Legal: The Co-Owner Inheritance Debate 7:19

9 weeks тому7:19

7:19

What happens when your name is on a parent’s bank account or home as a co-owner, yet their will says everything should be split among the three siblings? That’s the situation we’re addressing in this video to help the co-owner understand what options you have when it comes to splitting the inheritance up. Here’s some of what we discuss in this episode: 🏠 What happens when you're a co-owner on a parent’s bank account or home 🛡️ How to avoid family conflict with a clear, customized estate plan Our website: https://cincinnatiestateplan.com/ Phone: 513-463-6789 Contact our team: info@CincinnatiEstatePlan.com Schedule your no-cost consultation: https://cincinnatiestateplan.com/contact/ Join us for our next workshop: https://cincinnatiestateplan.com/workshops/ Check out our free resources here: https://cincinnatiestateplan.com/free-resources/ Check us out on YouTube: https://www.youtube.com/channel/UCf3WXpR0a-tMvimbMT_lkMA?sub_confirmation=1…

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Do I Really Need an Estate Plan If I Only Have One Heir? 28:54

10 weeks тому28:54

28:54

Even if you’re planning to leave everything to just one person, like an only child, it might feel like you don’t need an estate plan. After all, what could be simpler than passing everything on to a single heir? But estate planning isn’t just about how many people you’re leaving assets to. It’s about how you leave things, making sure your wishes are honored, minimizing complications, and protecting both you and your heir. In this episode, we unpack why an estate plan is still essential, even when you have only one heir, and explore the smart, simple, and safe ways to pass on your assets. Here’s some of what we discuss in this episode: ⚠️ Probate still applies—even with one beneficiary 🏠 Adding your child to the deed or account can cause major problems 🛠️ Tools like TODs and trusts can simplify transfers the right way 🧾 Estate planning also protects you if you become sick or incapacitated Our website: https://cincinnatiestateplan.com/ Phone: 513-463-6789 Contact our team: info@CincinnatiEstatePlan.com Schedule your no-cost consultation: https://cincinnatiestateplan.com/contact/ Join us for our next workshop: https://cincinnatiestateplan.com/workshops/ Check out our free resources here: https://cincinnatiestateplan.com/free-resources/ Check us out on YouTube: https://www.youtube.com/channel/UCf3WXpR0a-tMvimbMT_lkMA?sub_confirmation=1…

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Estate Planning Mistakes: When Assets in Your Name Aren’t Really Yours 6:51

11 weeks тому6:51

6:51

What happens when you have assets in your name but you don’t really consider them yours? It’s not that uncommon to work with people who need to account for things like a parent’s home or a child’s bank account in their estate plan. In this episode, Nick answers a listener’s question about how to handle assets that fall into this category while avoiding confusion in the future. Here’s some of what we discuss in this episode: ⚠️ Legal & Tax Risks – The hidden dangers of holding assets for others 🔄 How to Fix Ownership Issues – Steps to clean up your financial situation 📜 Avoiding Probate & Inheritance Conflicts – Why proper planning is crucial Our website: https://cincinnatiestateplan.com/ Phone: 513-463-6789 Contact our team: info@CincinnatiEstatePlan.com Schedule your no-cost consultation: https://cincinnatiestateplan.com/contact/ Join us for our next workshop: https://cincinnatiestateplan.com/workshops/ Check out our free resources here: https://cincinnatiestateplan.com/free-resources/ Check us out on YouTube: https://www.youtube.com/channel/UCf3WXpR0a-tMvimbMT_lkMA?sub_confirmation=1…

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Mistakes Your Attorney Might Be Making – What You Need to Watch Out For 24:15

12 weeks тому24:15

24:15

A well-drafted trust should protect your assets, ensure your wishes are followed, and make things easier for your loved ones. However, even estate planning attorneys can make mistakes that lead to costly problems. In this episode, we’ll cover four major mistakes attorneys make when drafting trusts—so you can recognize and avoid them in your own estate plan. Here’s some of what we cover: ✅ Fund Your Trust: Unfunded trusts force assets into probate. 🔄 Plan for the What-Ifs: Backup trustees & beneficiaries are essential. 📆 Review Regularly: Life changes & tax laws can impact your trust. 👨‍👩‍👧 Customize Your Plan: One-size-fits-all trusts don’t work for unique families. 0:00 – Today’s question 1:51 – Coaching update 6:10 – Failing to Properly Fund the Trust 10:14 – Contingency Planning 14:55 – Reviewing and Updating the Trust 17:12 – Generic Planning 20:17 – Our process Our website: https://cincinnatiestateplan.com/ Phone: 513-463-6789 Contact our team: info@CincinnatiEstatePlan.com Schedule your no-cost consultation: https://cincinnatiestateplan.com/contact/ Join us for our next workshop: https://cincinnatiestateplan.com/workshops/ Check out our free resources here: https://cincinnatiestateplan.com/free-resources/ Check us out on YouTube: https://www.youtube.com/channel/UCf3WXpR0a-tMvimbMT_lkMA?sub_confirmation=1…

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Estate Planning: Fairness vs Equality for Your Kids 9:32

13 weeks тому9:32

9:32

When it comes to children’s inheritance, should they all receive their share at the same time, or should each child wait until they reach a specific age? In this episode of Complete Estate Planning , Nick answers a common question: Is it fair for older children to receive their inheritance while younger siblings wait? Here are some of the key topics we’ll cover: 💰 Should all kids inherit at the same time? Pros & cons of different approaches ⚖️ Fair vs. equal: Why these aren’t always the same in estate planning 🔄 Partial distributions: A smart way to balance fairness & financial maturity 📜 Real-life examples: How other families have structured their children’s inheritance 0:00 – Today’s question 0:47 – Common scenarios 2:37 – What are your options? 5:40 – Most common approach Our website: https://cincinnatiestateplan.com/ Phone: 513-463-6789 Contact our team: info@CincinnatiEstatePlan.com Schedule your no-cost consultation: https://cincinnatiestateplan.com/contact/ Join us for our next workshop: https://cincinnatiestateplan.com/workshops/ Check out our free resources here: https://cincinnatiestateplan.com/free-resources/ Check us out on YouTube: https://www.youtube.com/channel/UCf3WXpR0a-tMvimbMT_lkMA Facebook: https://www.facebook.com/CincinnatiEstatePlan/ LinkedIn: https://www.linkedin.com/company/rosenbauer-law-office-llc/…

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Joint Trust vs. Separate Trusts – Which is Right for Married Couples? 23:20

14 weeks тому23:20

23:20

One of the biggest decisions a married couple faces when setting up an estate plan is whether to create a joint trust or separate trusts. The right choice depends on several factors, including how they manage their finances, asset ownership, and estate planning goals. In this episode, we’ll break down the pros and cons of each option and discuss when a joint trust makes sense versus when separate trusts are the better choice. A joint trust can be ideal for couples with shared finances and assets, simplifying estate management. On the other hand, separate trusts offer more flexibility and protection, particularly for couples with different financial situations, blended families, or distinct estate goals. We’ll break down the key scenarios for each choice and provide insight into how your specific needs can influence the right decision. Here’s what we discuss in this episode: 0:00 – Intro 0:39 – Show update 4:37 – Joint trust 7:17 – Separate trust 11:25 – What do clients choose? 13:31 – Can you change after? 16:57 – Key takeaways 💻Our website: https://cincinnatiestateplan.com/ ☎️Phone: 513-463-6789 📱Contact our team: info@CincinnatiEstatePlan.com ⏰Schedule your no-cost consultation: https://cincinnatiestateplan.com/contact/ 🗓Join us for our next workshop: https://cincinnatiestateplan.com/workshops/ 📚Check out our free resources here: https://cincinnatiestateplan.com/free-resources/ Check us out on YouTube: https://www.youtube.com/channel/UCf3WXpR0a-tMvimbMT_lkMA Facebook: https://www.facebook.com/CincinnatiEstatePlan/ LinkedIn: https://www.linkedin.com/company/rosenbauer-law-office-llc/…

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5 Ways To Screw Up When Receiving An Inheritance 22:18

16 weeks тому22:18

22:18

We talk a lot about estate planning on this show, but what about the other side of the equation- inheritance? Today, we’re diving into how people screw it up. There are plenty of ways to go wrong, but we’re breaking down the five biggest mistakes Nick sees people make when they receive an inheritance. Contact: 513-463-6789 info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/…

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When It Might Be A Good Time To “Upgrade” To A Trust 21:14

18 weeks тому21:14