Complete Estate Planning

When it comes to estate planning, assigning roles to your loved ones can feel overwhelming, especially when you're considering putting one person in charge of multiple responsibilities. In this mailbag episode, Nick addresses a common listener question: Can my daughter be both the executor of my will and my healthcare power of attorney? Or is that too much for one person?

Here’s some of what we discuss in this episode:

📜 Executor ...

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...

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 wit...

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 ...

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...

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...

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 t...

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’...

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

🛡️ Ho...

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 e...

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:

⚠️ Lega...

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 asse...

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 differe...

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 joi...

Understanding whether a Special Needs Trust is necessary can be complex, especially if your child isn’t receiving Social Security Disability benefits. In this episode, we explore the purpose of Special Needs Trusts, how they work, and why they might still be a crucial part of your financial plan. Don't miss these valuable insights to help secure your child’s long-term care and financial stability.

Contact:  

513-463-6789  

info@C...

Estate planning covers a wide range of scenarios, and most often, it involves taking care of your family or spouse. But what happens if you’re not married and still want to ensure your partner is provided for? In this episode, we’ll explore key considerations, differences, and arrangements to keep in mind when planning for such situations.

Contact:  

513-463-6789  

info@CincinnatiEstatePlan.com

https://cincinnatiestateplan.com/co...