In this episode of Redefine Retirement, host Ryan Wheless and estate planning attorney Crista Hermance dive into the critical yet often overlooked aspects of estate planning. They discuss the importance of starting estate planning early, even for young adults over 18, to ensure access to medical and digital assets in emergencies. Krista highlights common mistakes, such as outdated beneficiary designations leading to unintended inheritances (like an ex-husband receiving $300,000), and the pitfalls of probate, including its high costs (e.g., $56,000 for a $2 million estate), public exposure, and lengthy delays (1-3 years). The conversation emphasizes practical steps like setting up trusts, powers of attorney, and guardianship nominations to protect assets and loved ones, urging listeners to plan proactively to avoid financial and emotional turmoil.Check out Hermance Law at: https://hermancelaw.com/Subscribe to our YouTube Channel: ⁠⁠https://www.youtube.com/@alliedwealthFollow Allied Wealth on Instagram: https://www.instagram.com/allied_wealth/?hl=enVisit the Allied Wealth website to learn more: https://alliedwealth.com/PRODUCED BY IRONCLAD

Ver todos los episodios