Do you need estate planning? I'm going to talk about 14 of the major considerations you should be thinking about when you're considering whether you should plan no matter what your age. Now just be aware, this is of course not legal advice. This is just general information and you really should get with a qualified estate planning or elder law attorney if any of these issues apply to you.

 

Visit https://www.smartplanning101.com/about-smart-planning-101 to learn more about the podcast. 

 

If you're interested in good estate planning, please visit https://www.miestatelawyer.com or call (248) 278-1511 today!

030 14 Estate Planning Considerations

Do you, or do your parents or even grandparents, want to remain at home for the rest of your life? For over 75% of people age 50 and above, the answer is yes. But sadly, less than 1% of people actually live in an environment that makes this possible. Right now we are at a unique point in history where there is legislation that can actually help counties, cities, and municipalities create a new reality for their residents. Join me with my special guest, Esther Greenhouse, to learn more about the longevity economy, how our homes are forcing us into frailty, and how our state and local governments can rise to this challenge RIGHT NOW.

Esther Greenhouse is a unique professional.  She is a built environment strategist, consulting with organizations to create innovative initiatives at the intersection of society’s challenges and the built environment. Learn more about her by going to smartplanning101.com/31

031 Forced Frailty and Eviction By Design - What Cities And Municipalities Can Do About it

Have you ever heard that you can give away up to $15,000 per person per year to avoid gift tax?

Spoiler alert: the government gives with one hand and takes away with the other.

Now, as a general statement. This shouldn't surprise anyone, but when it comes to giving away money and other things to your kid, your family, or anyone you want. There really are some unpleasant surprises out there waiting for you.

What are they? That's what today's episode is all about. 



Disclaimer: Although I am a lawyer, I am not giving you legal advice. This podcast is for general informational purposes only.

Do you have a have any questions, or have an idea for a future episode? Visit smartplanning101.com/connect and let me know!

Episode 032 Gift Tax: Why Giving Away $15,000 Is a Trap For the Unwary

What is the second-worst thing that could happen to your children? If something happened to you?

It's simply this: you didn't make a plan for them. 

In this episode, I’m going to talk about four major planning considerations that every parent with minor children should be thinking about when they’re doing their estate planning. Also for parents of minor children that haven’t started planning yet.

Visit smartplanning101.com/33 for show notes and more information about The Smart Planning 101 podcast.

Ep 33 Have Young Children? 4 Important Estate Planning Considerations

Right now, we are thinking about our healthcare and our privacy more than ever.
I﻿n this episode, Nicole covers what “healthcare privacy” really means, what the limits of privacy are for us as individuals, and what the law says about our healthcare and privacy.

In this episode:
    * What “healthcare privacy” really means what are the limits for us as individuals
    * What the law says about our healthcare and our privacy
    * The government’s role in maintaining or protecting our privacy
    * Employment and healthcare privacy under HIPAA and the ADA
    * HIPAA, the health insurance portability and accountability act of 1996:
        * Do you have the right to access your own medical information and history?
        * Who, or what entities, are required to follow HIPAA guidelines?
        * What information is and isn’t protected under HIPAA?
        * What organizations are NOT required to protect your healthcare information, under HIPAA
    * Healthcare Privacy & the Constitution
        * Why the right to privacy is not “absolute”
        * Whalen v. Roe (1977) - The link to more information about this case is in the show links below.

For the transcript of this episode click here: smartplanning101.com/34 

DISCLAIMER: This podcast is intended to be general information only and not legal advice. If you have a specific question about your situation, please get advice from an attorney that specializes in healthcare, privacy and or whatever your specific question is.

Ep34 The Truth About Your Health And Your Privacy

The FBI estimates that seniors lose more than $3 billion each year to fraud. So what happens when a beloved grandchild calls, begging for money because a bad thing happened to them. Well, you know the answer. That's why this has to be a family conversation, right now.

This episode is about “The Grandparent Scam”. Also, how to start important conversations with your elderly loved ones, about various scams, and possible elder abuse.

Smart Planning 101

Ep 35 The Great Grandparent Scam

In today's episode, I talk with John Rohrhoff from JR financial services about socially responsible investing, what it is, things to think about, and how to get started.

Ep 36 Your Money Talks: Socially Responsible Investing

Is your whole retirement planning strategy based on the assumption that you're going to be in a lower tax bracket upon retirement? 

In this episode, Nicole Wipp talks with John Rohrhoff from JR financial services about income taxes and retirement tax myths. Also, why many individuals do not account for future potential taxes, when making financial decisions, today

Visit smartplanning101.com/37 for more information about the episode and John's bio.

Episode 037 Taxes In Retirement: Are You Really Planning On Being Poorer?

Ep 37: Taxes In Retirement: Are You Really Planning On Being Poorer?

Have you ever had to make the decision to let someone else die? Or even a decision for someone else to have a procedure that could lead to their death. Or, did your family have conflict around either one of these topics? 

While we're healthy, it's really easy to ignore these issues. It is much harder to talk about them and even more difficult when someone gets ill. But as my guest today will tell you, these are crucial and loving conversations, and having them can make all the difference. 

Dr. Kim Fischer is a board-certified physician anesthesiologist and an advanced care planning coach. She helps take-charge women in the thick of life get clear on what they want to happen should an accident or illness arise that renders them unable to speak for themselves in an ER or hospital. As an advanced care planning coach, Dr. Fischer supports you in having crucial conversations with your loved ones so that everyone knows your wishes explicitly and there is no ambiguity.

In this episode, we’ll explore: 

* What questions to ask and think about, while having these important conversations with your loved ones. 
* When, and how often, should we have these critical conversations? 
* How can we empower our healthcare proxies to be our knowledgeable advocates, if we find ourselves in a situation where we can’t speak for ourselves? 
* If these kinds of conversations are too difficult to have with our loved ones, who are the people we should reach out to?

Ep 38 Crucial Conversations About Death

Did you know that financial mistakes are one of the biggest signs or symptoms of Alzheimer’s and related dementias? 

In this episode, my guest Cameron Huddleston discusses all of the different ways that gift cards and financial scams can come to impact our elderly loved ones and the ways that we can help. 

Visit smartplanning101.com/39 for more information.

Episode 39 - Gift Cards and Financial Scams

In this episode, host Bert Martinez from Money for Lunch podcast (and soon to be published author of the book "Created to Succeed") interviews Nicole Wipp.  In this interview, he asks Nicole several great questions, like - what is the difference between estate planning and elder law?  At what age should people be thinking about this? How can people protect their assets? Why should we (or our parents) be planning for long term care - what are the financial effects?  
Nicole and Bert also discuss the problem with avoiding thinking about these things (things we don't like to think about) - the lack of planning and what it can do for our loved ones.  
Finally, Bert realizes that it is time for him to update his own plan!

003 Bert Martinez from Money for Lunch Interviews Nicole Wipp

Steve Frank, an executive leadership coach and CEO of Evolution 360, discusses his family's journey after his mother was diagnosed with Alzheimer's.  In this interview, he tells us about the challenges the family faced, which -over and above caring for mom  -  including managing legal and financial issues, helping his father cope with the emotional toll and ultimately the physical toll of caregiving, how to make decisions about impossible issues without creating self-doubt and family conflict, and why taking a leadership role in times of healthcare crisis is crucial.

002 Mom Had Alzheimer's: Executive Leadership Coach Steve Frank (Part 1)

Certified Exit Coach Bill Black discusses how approaching retirement for business owners can be a time that is difficult, especially when you're used to working.  At the same time, however, it is a great opportunity to "re-wire" and do the things you've always wanted to do.  The key?  Smart Planning!

Listen to Bill's entire interview:

www.SmartPlanning101.com/5

007 Smart Planning Minute With Bill Black

Even though for many, pets are as dear as children, the laws definitely don't see it that way.  Unless you plan, your pet is no more important, legally, than a piece of furniture.

That being said, Americans seriously love their pets!

According to the American Pet Products Manufacturers Association, 63% of American households have pets.  A survey conducted by the American Animal Hospital Association shows that 57% of pet owners say that, if stranded on a desert island, they would prefer their pet as their sole companion.  In 2012, we collectively spent $53 BILLION dollars on pet care.  Men spend, on average, more than women!   5 BILLION is spent on pet gifts!

Despite the fact that we love our pets so much, most people fail to plan.   This simple fact is part of the reason that it is estimated that approximately 3.7 million animals were euthanized in the nation’s shelters in 2008.

Don't let this happen you your vulnerable loved one!  Join me as I discuss pet planning with nationally renowned expert and author of All My Children Wear Fur Coats - How to Leave A Legacy For Your Pet, Peggy Hoyt, as she offers some great tips on how to properly plan for pets, and really gives perspective on why it is important -- even if you think that you "already have it taken care of."

Read the show notes, and learn more:  www.SmartPlanning101.com/10

010 Pets Are Family, Too - Pet Planning with Peggy Hoyt

The continuation of executive leadership coach Steve Frank's family story of his mother's Alzheimer's diagnosis and treatment.

What you will learn in this episode:

-Steve continues the story of the emergency move of his mother out of the house to an Alzheimer’s memory care facility;
-How many Alzheimer’s patients are healthy in body and what the effect of that may mean financially to families;
-Steve’s experience when his mother insisted on coming living with him instead of remaining at the facility and what he learned was the correct way to cope with this;
-The challenges of how the effects of anesthesia affect an Alzheimer’s patient;
-How, despite the intention and promises to never sell their parent’s house, that is what happened and how that ultimately was the right thing for his parents;
-How, despite his mother’s apparent lack of recognition of most things, she consciously attempted to refuse food;
-Steve’s feelings on letting go;
-How long term care insurance played a major role in his family’s experience;
-How generational feelings, especially relating to what generations see as issues of “pride” can obstruct or change financial decision-making;
-The pain of breaking promises but how breaking those promises may be the best thing to do;
-His experience as a member of the "sandwich generation" of moving his mother to a long term care facility at the beginning of the week and his son to his college dorm room at the end of the week;
-And the biggest lessons to be learned from making hard decisions!

Learn more, comment and read the show notes:  
www.SmartPlanning101.com/12

012 Mom Had Alzheimer's: A Family Story (Part 2) with Steve Frank

In this short episode, nationally recognized pet planning expert Peggy Hoyt shares the "one thing" she wishes EVERY pet owner would do when it comes to planning for their pets. 
Pet trust, pet legacy planning.

Read show notes:  www.SmartPlanning101.com/13

Listen to the full interview:  www.SmartPlanning101.com/10
	

013 Pet Planning Smart Minute with Peggy Hoyt

What is long term care?  How do we plan for our parents' needs as they age - what are our options?  In this episode, Audrey Ehrhardt from ElderCounsel and I discuss the many different types of long term care and how to access them. 

Point being, it is MUCH better to know in advance - be prepared - and not try to figure it out when your loved one has a healthcare crisis!

Show notes for this episode:  www.SmartPlanning101.com/17

Part 1: Episode 15: The Cost of Long Term Care is Rising (And Why It Matters to You)  www.SmartPlanning101.com/15

–Audrey gives some facts and figures about how many people this affects, and how expensive it really is. You may be shocked to learn these details! We also put this into a practical perspective for adult children, so you can see how it relates to you and your parents.


Part 2 (Episode 16): Basic Estate Planning Isn’t Enough (Wills, Revocable Living Trusts, and Your Garden-Variety Powers of Attorney Just Aren’t Going to Cut It) www.SmartPlanning101.com/16

–Audrey and I discuss the fact that people THINK they’ve “gotten it all taken care of” – this episode explores the reasons why this is a dangerous assumption, and some of the things you should do about it.

Part Four (Episode 18): The Legal Responsibilities An Adult Child May Be Asked To Take On For An Aging Parent (Understand What You Are Getting Into!)

–Audrey and I talk about the different types of scenarios that make legal decision making necessary for an adult child; how having proper documents affects this; why you may, as an adult child, need advice not only for your parent’s sake, but also for your own.

Part Five: The Pre-Planning Options That Your Aging Parent Needed Yesterday

–This topic somewhat revisits the concept that “basic estate planning isn’t enough” but also addresses the specific types of advanced planning that can make a difference in protecting assets and the ones you love.

017 Options for Long Term Care - Taking Care Of Elderly Parents (Part 3)

...How Using An IPug (TM) Trust Is Like Putting Your Money in A Safe

What is an Irrevocable Pure Grantor Trust, and why would you want one?

In Part 1 of this 2-part series, national asset protection & elder law specialist/CPA/Attorney David J. Zumpano, co-Founder of Lawyers With Purpose LLC, explains the history of trusts, how they work, and why they work, based on the common law of the United States.

In Part 2, Dave further explains how the trust actually works, who it is appropriate for, and how an irrevocable pure grantor trust fits in to a complete estate plan.  

To read the show notes, visit www.SmartPlanning101.com/20



020 Irrevocable Pure Grantor Trusts With David Zumpano (Part 1)

In this episode, expert guest Kevin Weedmark discusses how to think strategically about your home and the financial situation around your home, particularly as it relates to refinancing in today's market.

Kevin has been in the real estate and mortgage industry for 18 years.  He prides himself on thinking "outside the box" when it comes to helping clients get to their goals.

I was really surprised at how much I learned in this interview, even though the surprises were mostly related to one concept I try to really make people understand every day, which is - LAWS CHANGE, and your plan should change with it!

Here's what we discuss in this interview:

#1 - Were you a Cash Buyer? - Free up your cash
#2 - Do You Have Mortgage Insurance or Worse
a FHA loan  - The very important financial reasons you need to do whatever you can to ditch mortgage insurance or move from FHA to a conventional loan
#3 - College  - Are you prepared?  With
the increase in home values now may be a great time to fund your child's tuition
 #4 - Retired or close to retirement? - Cash flow becomes a major
concern -- understand your options; keep as much cash as possible
 #5 - Vacation or Second Home?   - Often forgot - the perception is rates are or must be higher  (absolutely false)

About Kevin:

Kevin was raised in Upstate New York, where his mother worked three (3) jobs to send him to private school.  (The private school was a military school with a lot of discipline and rigor, which has funneled into his life to this day.)  Kevin was the first in his family to have the honor of attending and graduating from college.

He has two children, and currently resides in Northville, Michigan.

Kevin's mortgage, real estate and credit repair businesses serve clients throughout the entire Metro Detroit area.


026 The Five Strategic Reasons To Consider Refinancing NOW with Kevin Weedmark

No one expects bad things to happen to them, or those they love. But real life tells us that bad things happen to good people, every day.  
This episode is all about planning for an unexpected health crisis, illness, or accident - NO MATTER WHAT YOUR AGE!
In this episode, Nicole discusses the two absolutely essential legal documents every person 18 years and older needs, how people think (incorrectly) that they already have it taken care of, why your spouse may not be the best choice to manage things for you, why you may need to fire your doctor, and much more!

To learn more, visit:  http://www.smartplanning101.com/27

THE INFORMATION IN THIS PODCAST IS NOT INTENDED TO BE, NOR SHOULD IT BE CONSTRUED AS, LEGAL ADVICE.  IT IS FOR INFORMATIONAL PURPOSES ONLY.  FOR ADVICE SPECIFIC TO YOUR SITUATION, CONSULT WITH A QUALIFIED ATTORNEY.

027 Planning For An Unexpected Healthcare Crisis

When it comes to rare disease and chronic illness, early diagnosis is important for many reasons - but even more so when a person has a condition known as pulmonary hypertension (PH). Why? If left untreated, death is almost certain - and the average length of survival without treatment is three years.

http://www.SmartPlanning101.com/28

**Doctors are commonly taught to look for horses, not zebras. But what if it really IS a zebra?**

The good news is that there are more and more options for treatment of this rare condition, but like all rare diseases, getting to the proper diagnosis is key.  Even if you don't have PH, however, this episode is important. My guest, Jessica Armstrong (see bio below) and I discuss many topics that are applicable to almost anyone dealing with an illness and the medical profession - how and why you need to take control of your own care!
In This Episode, You Will Learn:

    The many reasons why rare diseases are misdiagnosed
    Ways to combat misdiagnosis and lack of proper treatment - how to take control
    What tools are available to assist you - and get a great tool for FREE
    Jessica's personal story and how it reflects that of many others
    The importance of community and reaching out
    Why living with "invisible illness" is particularly frustrating!

What is Pulmonary Hypertension?

Pulmonary hypertension is high blood pressure in the lungs, which impacts patients of a number of other chronic illnesses, including:

    32-85% of patients with Pulmonary Fibrosis
    up to 40% of patients with left heart disease
    15-20% of patients with HHT
    8-12% of Scleroderma patients
    3-5% of patients who have previously suffered a pulmonary embolism
    0.5-9% of Lupus patients

...it is also applicable to many people that have my rare disease, lymphangioleiomyomatosis.
About Early Diagnosis Campaign Manager Jessica Armstrong

early diagnosis
    Jessica Armstrong is the Early Diagnosis Campaign Manager for the Pulmonary Hypertension Association

In 2011, Jessica Armstrong was serving in Afghanistan when she suddenly became unable to breathe and collapsed. Four months later she was diagnosed with Chronic Thromboembolic Pulmonary Hypertension and told that, unless she underwent a dramatic 10 hour open heart surgical procedure, she wouldn’t live beyond the next five months.

After she received that life-saving surgery, a cousin of Jessica's died of undiagnosed and untreated PH. This traumatic event caused Jessica to re-evaluate and dedicate her life to helping others with this deadly condition, to survive and thrive as she has.

Today Jessica serves as manager of the Pulmonary Hypertension Association’s Early Diagnosis Campaign and advocates for patients of pulmonary hypertension and other rare diseases.

028 The Importance Of Early Diagnosis - PH And Rare Disease

Smart Planning 101 Podcast ... shedding light on intelligent estate planning, strategic financial decision-making, health care options, and more.  Host Nicole Wipp's mission is to educate and inspire people to make better estate, financial, health and business planning choices through knowledge, tools, and specific tactics that ensure a more secure future. Death planning, life planning, long term care planning, business planning, financial.

Learn about helping loved ones or aging parents legally and financially when a healthcare crisis, including the need for nursing homes, occur.  Pre-plan your future to mitigate or eliminate the stress involved in times of health care crisis or just simply due to aging.

Smart Planning 101

Pinned to spotlight

Popular tracks