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Education

Smart Planning 101

Updated 10 days ago

Education
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Smart Planning 101 Podcast ... shedding light on intelligent estate planning, strategic financial decision-making, health care options, and more. Host Nicole Wipp's mission is to educate and inspire people to make better estate, financial, health and business planning choices through knowledge, tools, and specific tactics that ensure a more secure future. Death planning, life planning, long term care planning, business planning, financial.Learn about helping loved ones or aging parents legally and financially when a healthcare crisis, including the need for nursing homes, occur. Pre-plan your future to mitigate or eliminate the stress involved in times of health care crisis or just simply due to aging.

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Smart Planning 101 Podcast ... shedding light on intelligent estate planning, strategic financial decision-making, health care options, and more. Host Nicole Wipp's mission is to educate and inspire people to make better estate, financial, health and business planning choices through knowledge, tools, and specific tactics that ensure a more secure future. Death planning, life planning, long term care planning, business planning, financial.Learn about helping loved ones or aging parents legally and financially when a healthcare crisis, including the need for nursing homes, occur. Pre-plan your future to mitigate or eliminate the stress involved in times of health care crisis or just simply due to aging.

iTunes Ratings

56 Ratings
Average Ratings
44
6
2
1
3

Excellent show

By bstabs - Aug 22 2014
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Nicole, you make my 1 hour commute fly by. Thanks for a great show.

Love this topic…love this host!

By EOFire.com - Jun 27 2014
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Nicole rocks it on this podcast, and I am stoked for the many more to come! John Lee Dumas

iTunes Ratings

56 Ratings
Average Ratings
44
6
2
1
3

Excellent show

By bstabs - Aug 22 2014
Read more
Nicole, you make my 1 hour commute fly by. Thanks for a great show.

Love this topic…love this host!

By EOFire.com - Jun 27 2014
Read more
Nicole rocks it on this podcast, and I am stoked for the many more to come! John Lee Dumas
Cover image of Smart Planning 101

Smart Planning 101

Latest release on Nov 29, 2015

Read more

Smart Planning 101 Podcast ... shedding light on intelligent estate planning, strategic financial decision-making, health care options, and more. Host Nicole Wipp's mission is to educate and inspire people to make better estate, financial, health and business planning choices through knowledge, tools, and specific tactics that ensure a more secure future. Death planning, life planning, long term care planning, business planning, financial.Learn about helping loved ones or aging parents legally and financially when a healthcare crisis, including the need for nursing homes, occur. Pre-plan your future to mitigate or eliminate the stress involved in times of health care crisis or just simply due to aging.

Rank #1: 023 Revocable Living Trusts (Part 1) with Nicole Wipp

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How do revocable living trusts work? In this episode, host Nicole Wipp discusses what a "RLT" is and the importance of "funding your trust" - a commonly missed step.

You will learn:
-What the primary purposes of revocable living trusts are
-What a revocable living trust does NOT do for you
-Common misunderstandings as to how this trust works
-What trust funding is and why it is critically important

In Part 2, Nicole will discuss some of the options you may want to consider with revocable living trusts - options that are frequently missed. Stay tuned!

To read the show notes for this episode, visit: www.SmartPlanning101.com/23

Jun 24 2014

15mins

Play

Rank #2: 011 Wills: What You Think You Know (5 Crucial Facts You Probably Don’t)

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Even though wills are one of the, if not the, most familiar legal document there is, the fact of the matter is, most people don’t really understand how they work.

Unfortunately, wrong information gets perpetuated by the talking heads of conventional wisdom…and bad decisions are made as a result. Is a will right for you? Are you sure?

This episode is about getting rid of some of these misconceptions. I (Nicole) talk about 5 of the most common things people don't know about wills, and why they are crucial to smart planning.

WHAT YOU WILL LEARN IN THIS EPISODE:

-Why a will is your ticket into probate court
-How wills create a perfect situation for predators that may be interested in what you're leaving behind (no privacy for your loved ones!)
-Why what your will says is often not what actually happens
-How wills are of limited use - and don't do anything for you during life
-How the ultimate cost of a will is much higher that you probably realize

Read show notes, get our free report: www.SmartPlanning101.com/11

Jun 01 2014

13mins

Play

Rank #3: 021 Irrevocable Trusts (Part 2) with David Zumpano

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Irrevocable trusts, traditionally, are estate tax planning devices. Very few Americans in 2014 need estate tax planning, however - less than 2%. Why, then, would you want an irrevocable trust?

This series, including part 1 at www.SmartPlanning101.com/20, focuses on a new type of irrevocable trust known as the irrevocable pure grantor trust. In this episode, David Zumpano, a nationally recognized expert on asset protection and elder law planning (also a CPA & attorney) discusses this irrevocable trust, who it is for, and why you may want one.

Read the show notes and learn more: www.SmartPlanning101.com/21

Jun 19 2014

30mins

Play

Rank #4: 022 Financial & Retirement Planning Lies With Kim Butler

Podcast cover
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Conventional wisdom related to financial and retirement planning can lead to poor -or even devastating- financial results. What does this mean? What are you being told that is leading you down the wrong path? How can we start to think about our financial future in a way that leads to the best results?

Guest Kim Butler, the founder of Partners for Prosperity and The Prosperity Economics Movement (as well as being a coach for the elite entrepreneur coaching organization, Strategic Coach), discusses all in this episode.

In this episode, you will learn:
1. “Why the idea of retirement is fundamentally flawed;”
2. “The whole truth about 401(k)s – why you’ll keep less than you think;” and
3. “How financial planners skew projections, creating false expectations”
To read the show notes, learn more about Kim, find out about the Prosperity Economics Movement and Kim's books, visit: www.SmartPlanning101.com/22

Jun 22 2014

32mins

Play

Rank #5: 020 Irrevocable Pure Grantor Trusts With David Zumpano (Part 1)

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...How Using An IPug (TM) Trust Is Like Putting Your Money in A Safe

What is an Irrevocable Pure Grantor Trust, and why would you want one?

In Part 1 of this 2-part series, national asset protection & elder law specialist/CPA/Attorney David J. Zumpano, co-Founder of Lawyers With Purpose LLC, explains the history of trusts, how they work, and why they work, based on the common law of the United States.

In Part 2, Dave further explains how the trust actually works, who it is appropriate for, and how an irrevocable pure grantor trust fits in to a complete estate plan.

To read the show notes, visit www.SmartPlanning101.com/20

Jun 17 2014

27mins

Play

Rank #6: 015 The 5 Things Adult Children Of Aging Parents Need To Know NOW (Part 1)

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In this five part series, Nicole and Audrey Ehrhardt, the Office Management Director of the national elder law organization ElderCounsel, discuss the FIVE THINGS adult children of aging parents need to know...now.

Planning for the future is essential, especially today with longevity increasing, modern medicine playing a significant role in our living with disability, and longer times of living in retirement. Understanding how these issues play into our parent's lives will enable us to make better decisions later, with less stress.

Part 1 (Episode 15): The Cost of Long Term Care is Rising (And Why It Matters to You)
--Audrey gives some facts and figures about how many people this affects, and how expensive it really is. You may be shocked to learn these details! Nicole and Audrey also put this into a practical perspective for adult children, so they can see how it relates to them and their parents.
Part 2 (Episode 16): Basic Estate Planning Isn't Enough (Wills, Revocable Living Trusts, and Your Garden-Variety Powers of Attorney Just Aren't Going to Cut It)
--Audrey and Nicole discuss the fact that people THINK they've "gotten it all taken care of" - this episode explores the reasons why this is a dangerous assumption, and some of the things you should do about it.
Part 3 (Episode 17): Options for Long Term Care (Knowing Now Can Make All The Difference)
--Here, we discuss the many different types of long term care and how to access them. Point being, it is MUCH better to know in advance, and not when your loved one has a healthcare crisis!
Part Four (Episode 18): The Legal Responsibilities An Adult Child May Be Asked To Take On For An Aging Parent (Understand What You Are Getting Into!)
--Audrey and I talk about the different types of scenarios that make legal decision making necessary for an adult child; how having proper documents affects this; why you may, as an adult child, need advice not only for your parent's sake, but also for your own.
Part Five: The Pre-Planning Options That Your Aging Parent Needed Yesterday
--This topic somewhat revisits the concept that "basic estate planning isn't enough" but also addresses the specific types of advanced planning that can make a difference in protecting assets and the ones you love.

To read the show notes from this episode, visit www.SmartPlanning101.com/15

Jun 08 2014

22mins

Play

Rank #7: 016: Why Basic Estate Planning Isn't Enough (Part 2 - Adult Children, Aging Parents)

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In this episode, Audrey Ehrhardt from ElderCounsel and I discuss the fact that people THINK they’ve “gotten it all taken care of” – but we explore the reasons why this is a dangerous assumption, and some of the things you should do about it.
-A Will Isn't Enough (And Neither is A Revocable Living Trust)
-Your Financial Power of Attorney Needs Review

Read the Show Notes, or Learn More About This Episode: www.SmartPlanning101.com/16
Part 1: www.SmartPlanning101.com/15 Episode 15: The Cost of Long Term Care is Rising (And Why It Matters to You)

–Audrey gives some facts and figures about how many people this affects, and how expensive it really is. You may be shocked to learn these details! We also put this into a practical perspective for adult children, so you can see how it relates to you and your parents.

I also discuss the frequently discussed statement, “I’m never going to a nursing home – so don’t even discuss it with me,” and why we can’t let that statement hinder reality; Audrey illustrates how a long term care insurance policy may not give you the relief you believe it will; and more.
Part 3 (Episode 17): Options for Long Term Care (Knowing Now Can Make All The Difference)

–Here, we discuss the many different types of long term care and how to access them. Point being, it is MUCH better to know in advance, and not when your loved one has a healthcare crisis!

Part Four (Episode 18): The Legal Responsibilities An Adult Child May Be Asked To Take On For An Aging Parent (Understand What You Are Getting Into!)

–Audrey and I talk about the different types of scenarios that make legal decision making necessary for an adult child; how having proper documents affects this; why you may, as an adult child, need advice not only for your parent’s sake, but also for your own.

Part Five: The Pre-Planning Options That Your Aging Parent Needed Yesterday

–This topic somewhat revisits the concept that “basic estate planning isn’t enough” but also addresses the specific types of advanced planning that can make a difference in protecting assets and the ones you love.

Jun 09 2014

20mins

Play

Rank #8: 004 Smart Planning in Divorce - What, Why, How

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Nicole gives advice to anyone contemplating divorce about keeping your head on straight, planning for the rest of your life, understanding what divorce DOESN'T do for you, who you need on your team, and more.

May 08 2014

19mins

Play

Rank #9: 005 Business Exit Planning | 10 Common Threads | Bill Black ExitCoachRadio.com

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Bill Black from ExitCoachRadio.com shares the "10 Common Threads of Business Exit Planning" with Nicole; how and why exit planning for business owners is crucial (especially business owners over the age of 50) and how you can maximize your exit by ensuring a smooth, hassle-free, and most importantly LUCRATIVE exit strategy!

May 17 2014

29mins

Play

Rank #10: 017 Options for Long Term Care - Taking Care Of Elderly Parents (Part 3)

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What is long term care? How do we plan for our parents' needs as they age - what are our options? In this episode, Audrey Ehrhardt from ElderCounsel and I discuss the many different types of long term care and how to access them.

Point being, it is MUCH better to know in advance - be prepared - and not try to figure it out when your loved one has a healthcare crisis!

Show notes for this episode: www.SmartPlanning101.com/17

Part 1: Episode 15: The Cost of Long Term Care is Rising (And Why It Matters to You) www.SmartPlanning101.com/15

–Audrey gives some facts and figures about how many people this affects, and how expensive it really is. You may be shocked to learn these details! We also put this into a practical perspective for adult children, so you can see how it relates to you and your parents.
Part 2 (Episode 16): Basic Estate Planning Isn’t Enough (Wills, Revocable Living Trusts, and Your Garden-Variety Powers of Attorney Just Aren’t Going to Cut It) www.SmartPlanning101.com/16

–Audrey and I discuss the fact that people THINK they’ve “gotten it all taken care of” – this episode explores the reasons why this is a dangerous assumption, and some of the things you should do about it.

Part Four (Episode 18): The Legal Responsibilities An Adult Child May Be Asked To Take On For An Aging Parent (Understand What You Are Getting Into!)

–Audrey and I talk about the different types of scenarios that make legal decision making necessary for an adult child; how having proper documents affects this; why you may, as an adult child, need advice not only for your parent’s sake, but also for your own.

Part Five: The Pre-Planning Options That Your Aging Parent Needed Yesterday

–This topic somewhat revisits the concept that “basic estate planning isn’t enough” but also addresses the specific types of advanced planning that can make a difference in protecting assets and the ones you love.

Jun 10 2014

17mins

Play

028 The Importance Of Early Diagnosis - PH And Rare Disease

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When it comes to rare disease and chronic illness, early diagnosis is important for many reasons - but even more so when a person has a condition known as pulmonary hypertension (PH). Why? If left untreated, death is almost certain - and the average length of survival without treatment is three years.

http://www.SmartPlanning101.com/28

Doctors are commonly taught to look for horses, not zebras. But what if it really IS a zebra?

The good news is that there are more and more options for treatment of this rare condition, but like all rare diseases, getting to the proper diagnosis is key. Even if you don't have PH, however, this episode is important. My guest, Jessica Armstrong (see bio below) and I discuss many topics that are applicable to almost anyone dealing with an illness and the medical profession - how and why you need to take control of your own care!
In This Episode, You Will Learn:

The many reasons why rare diseases are misdiagnosed Ways to combat misdiagnosis and lack of proper treatment - how to take control What tools are available to assist you - and get a great tool for FREE Jessica's personal story and how it reflects that of many others The importance of community and reaching out Why living with "invisible illness" is particularly frustrating!

What is Pulmonary Hypertension?

Pulmonary hypertension is high blood pressure in the lungs, which impacts patients of a number of other chronic illnesses, including:

32-85% of patients with Pulmonary Fibrosis up to 40% of patients with left heart disease 15-20% of patients with HHT 8-12% of Scleroderma patients 3-5% of patients who have previously suffered a pulmonary embolism 0.5-9% of Lupus patients

...it is also applicable to many people that have my rare disease, lymphangioleiomyomatosis.
About Early Diagnosis Campaign Manager Jessica Armstrong

early diagnosis
Jessica Armstrong is the Early Diagnosis Campaign Manager for the Pulmonary Hypertension Association

In 2011, Jessica Armstrong was serving in Afghanistan when she suddenly became unable to breathe and collapsed. Four months later she was diagnosed with Chronic Thromboembolic Pulmonary Hypertension and told that, unless she underwent a dramatic 10 hour open heart surgical procedure, she wouldn’t live beyond the next five months.

After she received that life-saving surgery, a cousin of Jessica's died of undiagnosed and untreated PH. This traumatic event caused Jessica to re-evaluate and dedicate her life to helping others with this deadly condition, to survive and thrive as she has.

Today Jessica serves as manager of the Pulmonary Hypertension Association’s Early Diagnosis Campaign and advocates for patients of pulmonary hypertension and other rare diseases.

Nov 29 2015

41mins

Play

027 Planning For An Unexpected Healthcare Crisis

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No one expects bad things to happen to them, or those they love. But real life tells us that bad things happen to good people, every day.
This episode is all about planning for an unexpected health crisis, illness, or accident - NO MATTER WHAT YOUR AGE!
In this episode, Nicole discusses the two absolutely essential legal documents every person 18 years and older needs, how people think (incorrectly) that they already have it taken care of, why your spouse may not be the best choice to manage things for you, why you may need to fire your doctor, and much more!

To learn more, visit: http://www.smartplanning101.com/27

THE INFORMATION IN THIS PODCAST IS NOT INTENDED TO BE, NOR SHOULD IT BE CONSTRUED AS, LEGAL ADVICE. IT IS FOR INFORMATIONAL PURPOSES ONLY. FOR ADVICE SPECIFIC TO YOUR SITUATION, CONSULT WITH A QUALIFIED ATTORNEY.

Jul 16 2015

12mins

Play

026 The Five Strategic Reasons To Consider Refinancing NOW with Kevin Weedmark

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In this episode, expert guest Kevin Weedmark discusses how to think strategically about your home and the financial situation around your home, particularly as it relates to refinancing in today's market.

Kevin has been in the real estate and mortgage industry for 18 years. He prides himself on thinking "outside the box" when it comes to helping clients get to their goals.

I was really surprised at how much I learned in this interview, even though the surprises were mostly related to one concept I try to really make people understand every day, which is - LAWS CHANGE, and your plan should change with it!

Here's what we discuss in this interview:

#1 - Were you a Cash Buyer? - Free up your cash
#2 - Do You Have Mortgage Insurance or Worse
a FHA loan - The very important financial reasons you need to do whatever you can to ditch mortgage insurance or move from FHA to a conventional loan
#3 - College - Are you prepared? With
the increase in home values now may be a great time to fund your child's tuition
#4 - Retired or close to retirement? - Cash flow becomes a major
concern -- understand your options; keep as much cash as possible
#5 - Vacation or Second Home? - Often forgot - the perception is rates are or must be higher (absolutely false)

About Kevin:

Kevin was raised in Upstate New York, where his mother worked three (3) jobs to send him to private school. (The private school was a military school with a lot of discipline and rigor, which has funneled into his life to this day.) Kevin was the first in his family to have the honor of attending and graduating from college.

He has two children, and currently resides in Northville, Michigan.

Kevin's mortgage, real estate and credit repair businesses serve clients throughout the entire Metro Detroit area.

Aug 13 2014

45mins

Play

025 Inherited IRAs - What You Need To Know To Avoid Losing It All

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For several years, there has been a divide among the courts nationwide as to whether or not IRAs that were inherited are protected from creditors or bankruptcy.

As of June 12, 2014, we definitively know the answer – and it isn’t an answer most of you will like. The answer, according to the U.S. Supreme Court in Clark v. Rameker is…NO, an inherited IRA is NOT protected from creditors in bankruptcy.

If you own an IRA, 401k, 403b, tax-deferred annuity or other qualified asset, understanding a recent Supreme Court decision (Clark v. Rameker) is essential if you wish this asset to be protected from creditors or bankruptcy.

The point: INHERITED IRAs are not protected! Yet, with some SMART PLANNING, they can be. You just need to understand how and why to do it.

In this episode, Dave Zumpano of Lawyers With Purpose returns to discuss protection of this all-important asset.

Every person that has this type of asset, ever financial professional (including financial planners and CPAs), and every estate planning attorney needs to hear and understand this.

Read show notes: www.SmartPlanning101.com/25

Jul 07 2014

41mins

Play

024 Revocable Trusts - Options - (Part 2) with Nicole Wipp

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When it comes to revocable living trusts, people often don't know the options that they may be able to include to protect loved ones. When given these options, however, many people definitely want them! Know the different types of options you can have to help those you love and help ensure your money goes to who you want, when you want, in the way you want.

This is part 2 of a 2-part series on revocable living trusts. To listen to part 1, visit: www.SmartPlanning101.com/23

To read the show notes for this episode, visit: www.SmartPlanning101.com/24

Thank you for listening!

Jul 06 2014

25mins

Play

023 Revocable Living Trusts (Part 1) with Nicole Wipp

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How do revocable living trusts work? In this episode, host Nicole Wipp discusses what a "RLT" is and the importance of "funding your trust" - a commonly missed step.

You will learn:
-What the primary purposes of revocable living trusts are
-What a revocable living trust does NOT do for you
-Common misunderstandings as to how this trust works
-What trust funding is and why it is critically important

In Part 2, Nicole will discuss some of the options you may want to consider with revocable living trusts - options that are frequently missed. Stay tuned!

To read the show notes for this episode, visit: www.SmartPlanning101.com/23

Jun 24 2014

15mins

Play

022 Financial & Retirement Planning Lies With Kim Butler

Podcast cover
Read more
Conventional wisdom related to financial and retirement planning can lead to poor -or even devastating- financial results. What does this mean? What are you being told that is leading you down the wrong path? How can we start to think about our financial future in a way that leads to the best results?

Guest Kim Butler, the founder of Partners for Prosperity and The Prosperity Economics Movement (as well as being a coach for the elite entrepreneur coaching organization, Strategic Coach), discusses all in this episode.

In this episode, you will learn:
1. “Why the idea of retirement is fundamentally flawed;”
2. “The whole truth about 401(k)s – why you’ll keep less than you think;” and
3. “How financial planners skew projections, creating false expectations”
To read the show notes, learn more about Kim, find out about the Prosperity Economics Movement and Kim's books, visit: www.SmartPlanning101.com/22

Jun 22 2014

32mins

Play

021 Irrevocable Trusts (Part 2) with David Zumpano

Podcast cover
Read more
Irrevocable trusts, traditionally, are estate tax planning devices. Very few Americans in 2014 need estate tax planning, however - less than 2%. Why, then, would you want an irrevocable trust?

This series, including part 1 at www.SmartPlanning101.com/20, focuses on a new type of irrevocable trust known as the irrevocable pure grantor trust. In this episode, David Zumpano, a nationally recognized expert on asset protection and elder law planning (also a CPA & attorney) discusses this irrevocable trust, who it is for, and why you may want one.

Read the show notes and learn more: www.SmartPlanning101.com/21

Jun 19 2014

30mins

Play

020 Irrevocable Pure Grantor Trusts With David Zumpano (Part 1)

Podcast cover
Read more
...How Using An IPug (TM) Trust Is Like Putting Your Money in A Safe

What is an Irrevocable Pure Grantor Trust, and why would you want one?

In Part 1 of this 2-part series, national asset protection & elder law specialist/CPA/Attorney David J. Zumpano, co-Founder of Lawyers With Purpose LLC, explains the history of trusts, how they work, and why they work, based on the common law of the United States.

In Part 2, Dave further explains how the trust actually works, who it is appropriate for, and how an irrevocable pure grantor trust fits in to a complete estate plan.

To read the show notes, visit www.SmartPlanning101.com/20

Jun 17 2014

27mins

Play

019 The Pre-Planning Options That Your Aging Parents Needed Yesterday (Part 5)

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Part Five of the 5 Things Adult Children of Aging Parents Need to Know Now -- The Pre-Planning Options That Your Aging Parent Needed Yesterday

–This topic somewhat revisits the concept that “basic estate planning isn’t enough” but also addresses the specific types of advanced planning that can make a difference in protecting assets and the ones you love.

The real point of pre-planning is to MAXIMIZE options and gain the maximum control of yourself, your family, and your life. When people wait until a crisis, the result is that there are fewer options; therefore, less control!

Read the show notes from this episode: www.SmartPlanning101.com/19

Part 1: Episode 15: The Cost of Long Term Care is Rising (And Why It Matters to You) www.SmartPlanning101.com/15

–Audrey gives some facts and figures about how many people this affects, and how expensive it really is. You may be shocked to learn these details! We also put this into a practical perspective for adult children, so you can see how it relates to you and your parents.

Part 2 (Episode 16): Basic Estate Planning Isn’t Enough (Wills, Revocable Living Trusts, and Your Garden-Variety Powers of Attorney Just Aren’t Going to Cut It) www.SmartPlanning101.com/16

–Audrey and I discuss the fact that people THINK they’ve “gotten it all taken care of” – this episode explores the reasons why this is a dangerous assumption, and some of the things you should do about it.

Part 3 (Episode 17): Options for Long Term Care
What is long term care? How do we plan for our parents' needs as they age - what are our options? In this episode, Audrey and I discuss the many different types of long term care and how to access them.
www.SmartPlanning101.com/17

Part 4 (Episode 18): The Legal Responsibilities An Adult Child May Be Asked To Take On For An Aging Parent (Understand What You Are Getting Into!)
In this episode, Audrey Ehrhardt of ElderCounsel and I talk about the different types of scenarios that make legal decision making necessary for an adult child; how having proper documents affects this; why you may, as an adult child, need advice not only for your parent’s sake, but also for your own.
www.SmartPlanning101.com/18

Jun 17 2014

24mins

Play

018 The Legal Responsibilities An Adult Child May Be Asked To Take On For An Aging Parent (Part 4)

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Part Four of the 5 Things Adult Children of Aging Parents Need to Know Now (Episode 18): The Legal Responsibilities An Adult Child May Be Asked To Take On For An Aging Parent (Understand What You Are Getting Into!)

–In this episode, Audrey Ehrhardt of ElderCounsel and I talk about the different types of scenarios that make legal decision making necessary for an adult child; how having proper documents affects this; why you may, as an adult child, need advice not only for your parent’s sake, but also for your own.

Read the show notes from this episode: www.SmartPlanning101.com/18

Part 1: Episode 15: The Cost of Long Term Care is Rising (And Why It Matters to You) www.SmartPlanning101.com/15

–Audrey gives some facts and figures about how many people this affects, and how expensive it really is. You may be shocked to learn these details! We also put this into a practical perspective for adult children, so you can see how it relates to you and your parents.

Part 2 (Episode 16): Basic Estate Planning Isn’t Enough (Wills, Revocable Living Trusts, and Your Garden-Variety Powers of Attorney Just Aren’t Going to Cut It) www.SmartPlanning101.com/16

–Audrey and I discuss the fact that people THINK they’ve “gotten it all taken care of” – this episode explores the reasons why this is a dangerous assumption, and some of the things you should do about it.

Part 3 (Episode 17): Options for Long Term Care
What is long term care? How do we plan for our parents' needs as they age - what are our options? In this episode, Audrey and I discuss the many different types of long term care and how to access them.
www.SmartPlanning101.com/17

Part Five: The Pre-Planning Options That Your Aging Parent Needed Yesterday

–This topic somewhat revisits the concept that “basic estate planning isn’t enough” but also addresses the specific types of advanced planning that can make a difference in protecting assets and the ones you love.

Jun 13 2014

15mins

Play

017 Options for Long Term Care - Taking Care Of Elderly Parents (Part 3)

Podcast cover
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What is long term care? How do we plan for our parents' needs as they age - what are our options? In this episode, Audrey Ehrhardt from ElderCounsel and I discuss the many different types of long term care and how to access them.

Point being, it is MUCH better to know in advance - be prepared - and not try to figure it out when your loved one has a healthcare crisis!

Show notes for this episode: www.SmartPlanning101.com/17

Part 1: Episode 15: The Cost of Long Term Care is Rising (And Why It Matters to You) www.SmartPlanning101.com/15

–Audrey gives some facts and figures about how many people this affects, and how expensive it really is. You may be shocked to learn these details! We also put this into a practical perspective for adult children, so you can see how it relates to you and your parents.
Part 2 (Episode 16): Basic Estate Planning Isn’t Enough (Wills, Revocable Living Trusts, and Your Garden-Variety Powers of Attorney Just Aren’t Going to Cut It) www.SmartPlanning101.com/16

–Audrey and I discuss the fact that people THINK they’ve “gotten it all taken care of” – this episode explores the reasons why this is a dangerous assumption, and some of the things you should do about it.

Part Four (Episode 18): The Legal Responsibilities An Adult Child May Be Asked To Take On For An Aging Parent (Understand What You Are Getting Into!)

–Audrey and I talk about the different types of scenarios that make legal decision making necessary for an adult child; how having proper documents affects this; why you may, as an adult child, need advice not only for your parent’s sake, but also for your own.

Part Five: The Pre-Planning Options That Your Aging Parent Needed Yesterday

–This topic somewhat revisits the concept that “basic estate planning isn’t enough” but also addresses the specific types of advanced planning that can make a difference in protecting assets and the ones you love.

Jun 10 2014

17mins

Play

016: Why Basic Estate Planning Isn't Enough (Part 2 - Adult Children, Aging Parents)

Podcast cover
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In this episode, Audrey Ehrhardt from ElderCounsel and I discuss the fact that people THINK they’ve “gotten it all taken care of” – but we explore the reasons why this is a dangerous assumption, and some of the things you should do about it.
-A Will Isn't Enough (And Neither is A Revocable Living Trust)
-Your Financial Power of Attorney Needs Review

Read the Show Notes, or Learn More About This Episode: www.SmartPlanning101.com/16
Part 1: www.SmartPlanning101.com/15 Episode 15: The Cost of Long Term Care is Rising (And Why It Matters to You)

–Audrey gives some facts and figures about how many people this affects, and how expensive it really is. You may be shocked to learn these details! We also put this into a practical perspective for adult children, so you can see how it relates to you and your parents.

I also discuss the frequently discussed statement, “I’m never going to a nursing home – so don’t even discuss it with me,” and why we can’t let that statement hinder reality; Audrey illustrates how a long term care insurance policy may not give you the relief you believe it will; and more.
Part 3 (Episode 17): Options for Long Term Care (Knowing Now Can Make All The Difference)

–Here, we discuss the many different types of long term care and how to access them. Point being, it is MUCH better to know in advance, and not when your loved one has a healthcare crisis!

Part Four (Episode 18): The Legal Responsibilities An Adult Child May Be Asked To Take On For An Aging Parent (Understand What You Are Getting Into!)

–Audrey and I talk about the different types of scenarios that make legal decision making necessary for an adult child; how having proper documents affects this; why you may, as an adult child, need advice not only for your parent’s sake, but also for your own.

Part Five: The Pre-Planning Options That Your Aging Parent Needed Yesterday

–This topic somewhat revisits the concept that “basic estate planning isn’t enough” but also addresses the specific types of advanced planning that can make a difference in protecting assets and the ones you love.

Jun 09 2014

20mins

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015 The 5 Things Adult Children Of Aging Parents Need To Know NOW (Part 1)

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In this five part series, Nicole and Audrey Ehrhardt, the Office Management Director of the national elder law organization ElderCounsel, discuss the FIVE THINGS adult children of aging parents need to know...now.

Planning for the future is essential, especially today with longevity increasing, modern medicine playing a significant role in our living with disability, and longer times of living in retirement. Understanding how these issues play into our parent's lives will enable us to make better decisions later, with less stress.

Part 1 (Episode 15): The Cost of Long Term Care is Rising (And Why It Matters to You)
--Audrey gives some facts and figures about how many people this affects, and how expensive it really is. You may be shocked to learn these details! Nicole and Audrey also put this into a practical perspective for adult children, so they can see how it relates to them and their parents.
Part 2 (Episode 16): Basic Estate Planning Isn't Enough (Wills, Revocable Living Trusts, and Your Garden-Variety Powers of Attorney Just Aren't Going to Cut It)
--Audrey and Nicole discuss the fact that people THINK they've "gotten it all taken care of" - this episode explores the reasons why this is a dangerous assumption, and some of the things you should do about it.
Part 3 (Episode 17): Options for Long Term Care (Knowing Now Can Make All The Difference)
--Here, we discuss the many different types of long term care and how to access them. Point being, it is MUCH better to know in advance, and not when your loved one has a healthcare crisis!
Part Four (Episode 18): The Legal Responsibilities An Adult Child May Be Asked To Take On For An Aging Parent (Understand What You Are Getting Into!)
--Audrey and I talk about the different types of scenarios that make legal decision making necessary for an adult child; how having proper documents affects this; why you may, as an adult child, need advice not only for your parent's sake, but also for your own.
Part Five: The Pre-Planning Options That Your Aging Parent Needed Yesterday
--This topic somewhat revisits the concept that "basic estate planning isn't enough" but also addresses the specific types of advanced planning that can make a difference in protecting assets and the ones you love.

To read the show notes from this episode, visit www.SmartPlanning101.com/15

Jun 08 2014

22mins

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014 Wills Smart Planning Minute with Nicole Wipp

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In this short episode, family estate planning and elder law attorney discusses how wills tend to have very little relevance for many people these days.

Read the show notes:
www.SmartPlanning101.com/14

Listen to the entire episode related to facts about wills you don't know:
www.SmartPlanning101.com/11

Jun 04 2014

1min

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013 Pet Planning Smart Minute with Peggy Hoyt

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In this short episode, nationally recognized pet planning expert Peggy Hoyt shares the "one thing" she wishes EVERY pet owner would do when it comes to planning for their pets.
Pet trust, pet legacy planning.

Read show notes: www.SmartPlanning101.com/13

Listen to the full interview: www.SmartPlanning101.com/10

Jun 03 2014

1min

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012 Mom Had Alzheimer's: A Family Story (Part 2) with Steve Frank

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The continuation of executive leadership coach Steve Frank's family story of his mother's Alzheimer's diagnosis and treatment.

What you will learn in this episode:

-Steve continues the story of the emergency move of his mother out of the house to an Alzheimer’s memory care facility;
-How many Alzheimer’s patients are healthy in body and what the effect of that may mean financially to families;
-Steve’s experience when his mother insisted on coming living with him instead of remaining at the facility and what he learned was the correct way to cope with this;
-The challenges of how the effects of anesthesia affect an Alzheimer’s patient;
-How, despite the intention and promises to never sell their parent’s house, that is what happened and how that ultimately was the right thing for his parents;
-How, despite his mother’s apparent lack of recognition of most things, she consciously attempted to refuse food;
-Steve’s feelings on letting go;
-How long term care insurance played a major role in his family’s experience;
-How generational feelings, especially relating to what generations see as issues of “pride” can obstruct or change financial decision-making;
-The pain of breaking promises but how breaking those promises may be the best thing to do;
-His experience as a member of the "sandwich generation" of moving his mother to a long term care facility at the beginning of the week and his son to his college dorm room at the end of the week;
-And the biggest lessons to be learned from making hard decisions!

Learn more, comment and read the show notes:
www.SmartPlanning101.com/12

Jun 02 2014

37mins

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011 Wills: What You Think You Know (5 Crucial Facts You Probably Don’t)

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Even though wills are one of the, if not the, most familiar legal document there is, the fact of the matter is, most people don’t really understand how they work.

Unfortunately, wrong information gets perpetuated by the talking heads of conventional wisdom…and bad decisions are made as a result. Is a will right for you? Are you sure?

This episode is about getting rid of some of these misconceptions. I (Nicole) talk about 5 of the most common things people don't know about wills, and why they are crucial to smart planning.

WHAT YOU WILL LEARN IN THIS EPISODE:

-Why a will is your ticket into probate court
-How wills create a perfect situation for predators that may be interested in what you're leaving behind (no privacy for your loved ones!)
-Why what your will says is often not what actually happens
-How wills are of limited use - and don't do anything for you during life
-How the ultimate cost of a will is much higher that you probably realize

Read show notes, get our free report: www.SmartPlanning101.com/11

Jun 01 2014

13mins

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010 Pets Are Family, Too - Pet Planning with Peggy Hoyt

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Even though for many, pets are as dear as children, the laws definitely don't see it that way. Unless you plan, your pet is no more important, legally, than a piece of furniture.

That being said, Americans seriously love their pets!

According to the American Pet Products Manufacturers Association, 63% of American households have pets. A survey conducted by the American Animal Hospital Association shows that 57% of pet owners say that, if stranded on a desert island, they would prefer their pet as their sole companion. In 2012, we collectively spent $53 BILLION dollars on pet care. Men spend, on average, more than women! 5 BILLION is spent on pet gifts!

Despite the fact that we love our pets so much, most people fail to plan. This simple fact is part of the reason that it is estimated that approximately 3.7 million animals were euthanized in the nation’s shelters in 2008.

Don't let this happen you your vulnerable loved one! Join me as I discuss pet planning with nationally renowned expert and author of All My Children Wear Fur Coats - How to Leave A Legacy For Your Pet, Peggy Hoyt, as she offers some great tips on how to properly plan for pets, and really gives perspective on why it is important -- even if you think that you "already have it taken care of."

Read the show notes, and learn more: www.SmartPlanning101.com/10

May 29 2014

27mins

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009 VA Benefits - Aid and Attendance with Jim Swain (Part 2)

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In this continuation of my discussion with nationally recognized expert on VA Improved Pension, Jim Swain, we continue to discuss the dangers of recommendations and the use of financial products such as annuities for VA Improved Pension (and estate) planning, as well as when you should see an attorney to discuss this benefit, how your financial power of attorney is usually wrong but needs to be right when doing planning, when family members need to start getting involved, why seeing a specialist is so important, and more.

To read the show notes and learn more about VA Improved Pension, visit: www.SmartPlanning101.com/9

May 25 2014

18mins

Play

iTunes Ratings

56 Ratings
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Excellent show

By bstabs - Aug 22 2014
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Nicole, you make my 1 hour commute fly by. Thanks for a great show.

Love this topic…love this host!

By EOFire.com - Jun 27 2014
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Nicole rocks it on this podcast, and I am stoked for the many more to come! John Lee Dumas