Optimal Finance Daily - Financial Independence and Money Advice 3399: Estate Planning 101 by Jesse Cramer of Best Interest on Planning Future Assets
Dec 25, 2025
Get ready to tackle estate planning with a fresh perspective! Learn why it's crucial to protect your loved ones and how to do it effectively. Discover the essentials, from wills and powers of attorney to the benefits of setting up a trust. Jesse breaks down an easy 11-step checklist to simplify the process. Plus, an organization tip for creating an emergency binder ensures that your important documents are easily accessible. Don't let estate planning be a daunting task—equip yourself with the tools to be prepared!
AI Snips
Chapters
Transcript
Episode notes
Estate Planning Covers Death And Incapacity
- Estate planning answers what happens to your assets if you die or become incapacitated.
- Many people neglect the incapacitation part, which is crucial to plan for.
Prepare The Three Must-Have Documents
- Create three core documents: a will (with guardianship), a financial power of attorney, and an advance healthcare directive.
- Use an attorney and consider a CFP when establishing these documents.
Trusts Define Roles And Long-Term Control
- A trust is a three-party fiduciary arrangement among grantor, trustee, and beneficiary.
- Trusts can enforce wishes, reduce taxes, or provide structured gifts across time.