Episode 69: Interest Rates Are Rising....Does That Mean You Should Adjust Your Bond Allocation?

Episode #66: Yes You Do Need an Estate Plan With Tammi Caress

 
This week on Grow Money Business we have another distinguished guest: Tammi Caress. Tammi is an estate planning attorney, and the founder of Caress Law, P.C.. Throughout the episode, we dive deep into the process of estate planning, why it’s important for any adult to have an estate plan in place, things to consider when selecting what to include in your estate, and what provisions to include in your plan for both while you’re alive and after you pass. Stay tuned until the end of the episode, where Tammy shares some tips & tricks you can use to minimize estate taxes.

 

Show Notes

[02:22] Tammi’s Background – Tammi has been running her law firm for eight years. She shares with us how she helps her clients with establishing estate plans and other legal matters. 

[04:36] Estate Plans – What is included in an estate plan, the process of creating an estate plan, and what benefits you and your loved ones get from having an estate plan. 

[11:14] Power of Attorney and Advance Medical Directives – Why parents should guide their children to set up power of attorney and advance medical directives when they turn 18. 

[17:47] Trusts – A trust is another method of estate transfer available to us. Tammi dives into how trusts work, how they’re different from a will, the legal process of setting up a trust, and the benefits of having a trust. 

[27:11] Uniform Probate Code – What UPC is, the purpose of it, and how the legal process works in states that have adopted the UPC. 

[32:42] Digital Assets – How digital assets such as emails, cloud storage, online accounts, and digital currencies are incorporated into estate planning. 

[37:55] Access Without Legal Authority – Tammi explains the risks associated with sharing access to your online assets with someone without having proper legal authority. 

[44:56] Mistakes – Tammi talks about some of the biggest mistakes people make in the process of estate planning and how you can avoid them. 

[47:33] What to Put Into a Trust – Not all of your assets can be put into a trust, and it’s better not to put certain assets in a trust. Tammi reviews what to put into a trust and what to keep out of a trust.  

[52:23] Choosing People – What you should do to get the right people in place to step in when you’re in need. 

[25:40] Estate Tax Minimization – How taxation relates to estate planning and what you can do to minimize your estate tax. 

 

Resources:

Connect with Tammy:
[email protected]
www.caresslaw.estate 

Posted in Financial Planning, Podcast, Retirement, Succession & Estate Planning, Taxes & Accounting and tagged , .

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