Tag Archives: Estate Planning

33. Holiday Conversations About Hard Topics

December 1, 2021Finance, Financial, Retirement, TaxesEstate Planning, Financial Advisor, Healthcare Planning, Long-Term Healthcare, Retirement Planning, Saving You Taxes, Tax Planning, Truth About Taxes and Retirementtruthabouttaxesandretirement

The upcoming holidays present a wonderful opportunity to have important conversations with your family about many things, including topics such as healthcare planning, funeral planning, and who will get what.

In this episode, J Barry Watts helps you understand how you bring these topics up to aging parents while the whole family is around. It’s important that these conversations happen before parents pass away or are unable to have them. Barry shares tips on how to start having these conversations, and the types of questions you should be asking.

Barry discusses:

Tips to start having these types of conversations
Why you should keep asking questions
Why you should ask to see your parents’ investment accounts, and the importance of establishing Transfer on Death on their accounts.
The importance of having your beneficiaries down instead of leaving things through a will
And more

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30. Strengthening Your Family Through Legacy Trusts

October 20, 2021Finance, Financial, Retirement, Taxes, UncategorizedEstate Planning, Financial Advisor, Healthcare Planning, Long-Term Healthcare, Retirement Planning, Saving You Taxes, Tax Planning, Trusts, Truth About Taxes and Retirementtruthabouttaxesandretirement

Have you ever considered opening a trust for your family? Legacy trusts can ensure your family’s legacy for generations to come.

In this episode, J Barry Watts discusses trusts and how valuable they can be to your family. Barry simplifies and answers questions you may have regarding trusts. Barry shares why people don’t have trusts, and explains why the idea that “I’m not rich enough” is not as big of a concern as many people believe it to be.

Barry discusses:

What a trust is and why you should consider adding one to your plan
Reasons why people don’t have a trust—and why they may want to reconsider
How trusts can be used to strengthen family ties
And more

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28. Taking The Mystery Out of Estate Planning

September 22, 2021Finance, Financial, Retirement, Taxes, UncategorizedEstate Planning, Financial Advisor, Healthcare Planning, Long-Term Healthcare, Retirement Planning, Saving You Taxes, Tax Planning, Truth About Taxes and Retirementtruthabouttaxesandretirement

Estate planning can be complicated and may involve some uncomfortable conversations with family members and loved ones, albeit necessary. You want to be sure that your estate is going to the right people in the right order.

In this episode, Barry Watts uncovers the mystery of estate planning. Barry looks at multiple legal mechanisms used to transfer assets that can help you avoid having your assets distributed by the state or a judge. He also provides clarity on choosing how your assets are divided and to whom.

Barry discusses:

What happens to your assets when you die if you don’t have a plan
Who should inherit your assets
Legal mechanisms for transferring assets, and why you likely want to avoid probate
Passing assets by contract, and understanding trusts
How you can get your estate plan in order
And more

Resources:

Connect With Barry Watts:

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