The Estate Blueprint: Planning Your Future with Tom Begley

Episode Summary: 

In this episode of *The Estate Blueprint*, Thomas Begley III discusses the crucial aspect of funding a trust for effective estate planning. He highlights the importance of ensuring that assets flow through the trust as intended, emphasizing the need to review and update beneficiary designations. With real-life examples, Thomas sheds light on common mistakes and the implications of assets not properly transferred i...

Episode Summary: Attorney Tom D. Begley III sheds light on New Jersey's inheritance tax, distinguishing it from the repealed estate tax. He explains who pays the inheritance tax, the different classes of heirs, and the tax rates applicable. Discover how smart planning can reduce the tax burden and ensure a smoother transfer of assets to beneficiaries.

Key Timestamps:

00:00 – Introduction

01:30 – Difference between estate tax and in...

Episode Summary:

In this critical episode, Tom Begley stresses the overlooked importance of selecting qualified fiduciaries, highlighting rising abuse cases in probate courts. The discussion contrasts short-term executor duties with long-term trustee roles, key qualifications like integrity and common sense, and strategies for backups, co-fiduciaries, and easy updates.

Key Timestamps: 

00:01 - Show Introduction 

00:30 - Fiduciary...

Episode Summary: 

In this essential episode, Tom Begley tackles the widespread question of transferring a home to children, debunking myths around probate, taxes, and long-term care protection. The discussion contrasts risky outright deeds with smarter options like life estates and specialized trusts to preserve step-up basis, avoid Medicaid penalties, and maintain control.

Key Timestamps:  

00:01 - Show Introduction  

00:30 - 3 My...

Attorney Thomas D. Begley III addresses the essentials of special needs planning, focusing on decision-making and financial provisions for individuals with disabilities. The episode explores alternatives to guardianship, the role of special needs trusts in preserving government benefits, and the importance of selecting a qualified trustee, offering practical guidance for families to ensure their loved ones’ care and...

Attorney Thomas D. Begley III addresses the unique challenges of estate planning for second marriages, focusing on balancing the needs of a new spouse with obligations to children from prior marriages. The episode explores common mistakes, such as improper beneficiary designations and poorly drafted wills, and provides solutions like marital trusts, life estates, and prenuptial agreements to ensure fair asset distri...

Attorney Thomas D. Begley III delves into the intricacies of guardianship, covering its application for minor children and incapacitated adults. The episode explains how to appoint guardians through a will for minors, the detailed court process for adults, the responsibilities of guardians, and less restrictive alternatives like conservatorships, providing essential guidance for protecting loved ones through thought...

Attorney Thomas D. Begley III discusses the importance of lifetime planning to complement a will in estate management. The episode explores the necessity of advanced medical directives and general durable powers of attorney to manage medical and financial decisions during incapacity, highlighting the risks of guardianship and the benefits of proactive planning to protect one’s wishes and well-being.

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Episode Summary: In this essential episode of The Estate Blueprint, elder law attorney Tom Begley shares insights on the most common mistakes people make with their estate plans—and how to avoid them. From improperly drafted powers of attorney to overlooking non-probate assets and missteps in blended families, Tom breaks down what families need to know to protect assets, maintain control, and prevent unintended consequences. Whethe...

Episode Summary: In this episode of The Estate Blueprint, elder law attorney Thomas Begley III discusses how families can plan for long-term care without depleting their life savings. From understanding the differences between skilled and custodial care, to breaking down Medicaid eligibility, to navigating the five-year lookback period, Tom shares essential legal strategies that help protect family assets and provide quality care. ...

Episode Summary:

In this episode of Estate Blueprint, host Kevin Rosenquist and estate planning attorney Tom Begley discuss the pros and cons of living trusts. They explore common misconceptions, when trusts are necessary, and how to determine if you really need one. Tom provides valuable insights on different types of trusts and common mistakes people make in trust planning.

Key Timestamps:

00:07 - Introduction and episode topic

Episode Summary:

In this inaugural episode of The Estate Blueprint, host Kevin Rosenquist and estate planning expert Tom Begley discuss the fundamentals of estate planning and probate. Tom shares his 35 years of experience, explaining the three core documents everyone needs regardless of age or wealth: a will, an advanced medical directive, and a general durable power of attorney. He also demystifies the probate process in New Jers...