Estate Planning 101 in 2023

Link to website: aeplawyers.com/
Link to request a discussion with AEPL about creating your personal estate planning program: aeplaw.cliogrow.com/intake/71...
0:00 Estate Planning 101 in 2023
2:34 Start With the End
9:59 What Happens When the First Spouse Dies?
17:40 What If You Can't Handle Your Money?
19:39 Who Makes Your Future Medical Decisions When You Can't?
23:50 Will Plan versus Living Trust Plan
35:02 Death and Taxes
40:40 Getting Started With Estate Planning?
45:08 Answering Questions

[@ld5714]

Paul, it has been a long time for sure. i have been in the middle of doing our estate planning documents (using your online site) but stopped because of lack of current content from you. I am so glad you are intending on going through everything this month in June. Couldn't be better timed. Looking forward to it Paul. Your content is awesome!!

[@ld5714]

Unfortuanately he stopped and didn't follow through with the additional content. It's disappointing and we still haven't finished up with them. 😒

[@brendajanes389]

Thank you so much. Brenda from Ky.

[@benicillin]

thank you for posting this paul.

[@tammylive]

Paul thanks to you and your guidance we did the trust, pour over will, power of attorney 🙏🙏🙏🙌

[@DougASAP]

Thanks for doing this!

[@ryanotis7289]

Thx Paul Q / Request: pls go through the Trust process, upon death of settler/ grantor From point of view of a Trustee / Beneficiary

[@rlescano1]

Terrific session. learned a lot. i really appreciate you taking time to share your knowledge with others.

[@gcburkett]

Thanks for answering my questions during the live event. I missed the first 15 minutes so listening this morning to the beginning. One thing I have been thinking about is leaving instructions to my wife should I either become incapacitated or die suddenly. Have you seen any checklists for creating these instructions? Maybe I will get some of this when I get my trust documents. Looking forward to tonite's live session.

[@lawofficeofjeaninefriedman4930]

47:34 Great presentation! I think you should mention some states (IL…not portable) do have estate tax….in addition to federal.

[@InLawsAttic]

What is the process that goes from death/(with trust intact) to the funeral home taking the body and burial- which happens to be in the neighboring state- like Texas resident with plot paid for in Louisiana at a family cemetery? Like, what does the executor do first; wanting this process to be totally taken care of so the children don’t do anything,but afraid the funeral home would take advantage if I go to them- do they get designated or something in the will?

[@roxannenajafi2022]

Thank you. Very informative

[@JagLite]

Very interesting and beneficial, thanks!

[@InLawsAttic]

Thank you so much!!

[@pamelaforrest1622]

thank you

[@senebobo1007]

Thanks

[@whatzupLizzy]

Another question you touch on at 14.30 estate allocation must require a asset separation list so it is clear what part of the assets belong to either the wife/husband. Can you discuss ways to do this in the future.

[@anacaceres4277]

Paul can you talk about updating a RLT when a spouse dies and how to do it?

[@GlobalDrifter1000]

When is it safe to distribute all the assets of a living? Trust of concerned that there might be late arriving claims?

[@maggie-iv6ot]

What about co execs and advisors when it comes to CRUT

[@sheryllegg845]

Will there be answers to above questions anytime soon? Thank you

[@whatzupLizzy]

My mother is receiving an inheritance from a relative that had no estate planning. The local city has people who are acting as executor. Do you know if they take part of the estate as payment in these situations? Just wondering since the process has been going on for years - I wondered if the state is incentivized to delay?

[@judybesse4058]

Paul-I live in the state of La and my mother passed away 10 yrs ago with a will but not a trust. There are 4 of us and we went through probate and separated everything out. My dad was left with usufruct for the house that I inherited and live in with him and my husband, I have spent thousands renovating and my dad rarely contributes. Question is-Is he responsible for repairs to the house?

[@garyherlitz]

Please explain to the people watching, to be sure to get an estate planning attorneys & not just any attorney. This happened to me. The first joint trust was 17 pages long When I went to an estate planning attorney I had a great 65 page jont trust with everything spelled out.

[@whatzupLizzy]

I have an percentage allocated 401k. However if the named people die before me i plan to block the asset from moving to their heirs. Is there an automated way to do this?

[@brendajanes389]

Will u help me in Ky Paul and how much do u charge per hour?

[@fastwatercolors]

Do you need to leave estate to family or can leave it to friend

[@dks13827]

All: do not let a lawyer jerk your probate around for 8 or 9 years !!!!!!!! Do not !!!!!!!!

[@GlobalDrifter1000]

Is there a concern with getting title insurance on the house for sale in the case of a trust as there could remain future claims against the estate ?

[@anacaceres4277]

You would need to create a spendthrift trust which provides asset protection for the beneficiaries and places restrictions on access to the assets. This type of trust sets specific requirements, terms and conditions. This means that the beneficiary cannot sell or transfer the assets. There's a lot more than I can explain, hopefully Paul will address this type of trust.