The Long Game Estate Planning Mistakes With Jenny Rozelle
Apr 14, 2023
Jenny Rozelle, an expert in estate planning, discusses the importance of estate planning and common mistakes to avoid. Topics covered include the taxation of life insurance, the accessibility and costs of estate planning, and the consequences of not updating estate plans regularly. The value of seeking professional advice and the potential risks of not hiring professionals are also emphasized.
AI Snips
Chapters
Transcript
Episode notes
Estate Planning Minimizes Risk
- Create an estate plan to minimize risks, especially with unique family situations.
- Blended families, for example, highlight the importance of estate planning.
Keep Beneficiary Designations Updated
- Regularly update beneficiary designations on accounts and policies as life changes.
- Ensure estate plans and beneficiary designations align to avoid unintended distributions.
Ex-Spouse Beneficiary Issue
- A divorced man left his ex-spouse as the beneficiary, despite a divorce decree prohibiting it.
- This caused legal issues, highlighting the need for updated beneficiaries.