Secure Your Legacy: Insights From Estate Attorney and Financial Advisor

00:00 Estate Planning Attorney Paul Rabalais Introduction
1:41 Financial Advisor Lane Martinsen Introduction
2:28 Holistic
4:55 Estate Planning and Procrastination
6:57 When The Financial Advisors Engages in Estate Planning With a Client
8:42 Typical Estate Planning Objectives
12:02 Financial Advising Is Like Building a House
15:47 When Financial Advisor Is Unaware Of Their Client's Estate Planning
20:31 The Financial Advisor Controls the Beneficiary Designations and Account Titles
23:01 When To Use A Trust as a Beneficiary Versus Using a Trust as an Account Owner
23:50 Naming Individuals Versus Trusts as Traditional IRA Beneficiaries
26:46 How Should Brokerage Accounts Be Handled From an Estate Planning Perspective
27:40 Spouse Wants To Use IRA To Benefit Both Spouse and Children
30:23 The Will or Trust Often Does Not Dictate IRA Disposition
34:31 How Lane Engages With Their Financial Advisor Clients' Estate Planning
38:45 Retirement Income Planning
43:45 Impact of YouTube Channel on Estate Planning and Financial Planning Practices
45:30 Q&A

[Casted-rostine]

In August 2022, I paid 685k with a 4.375 interest rate for my second property in San Diego. The property is currently worth $895k. I've already increased my ownership by over 30% in less than two years. There's no need for me to sell because I'm making over 90k in rental income from my two ADU studios, which pays my mortgage each month. In addition, my rate is ridiculously low, which I view as a benefit. I am no longer suffering with rmd. Children receive it free of tax. The only thing my wife has is $600, 000 before taxes, which I may need to convert at some point.

[jalenacapel]

Hi Paul! How do we make an appt with you? I tried to connect via your website.

Big questions on how to deal with deceased parents RLT where they made the trust the bene of all their IRAs, 403b, ins policies, roths, non-, qual annuities, and now concerned about how most of those IRA and annuity companies are saying we have to take distributions as lump sums with taxes withheld because bene is not a person. Also have questions on how and on what the trust pays taxes on.

Thank you for all your education. I learn so much from you.

[nc]

Please be sure to have a beneficiary form on file for your employer provided life insurance benefits. Some people forget those benefits! If there is no beneficiary designation, the policy, which is purchased by the company, is subject to the blanket beneficiary rules of the company policy...not your will provisions. For example, you are a widow/widower. You did not want to leave that policy to your children. You did not complete a beneficiary designation. Many times, the first beneficiary is your spouse. He or she is deceased. After your spouse, your children are next in line to receive the employer life insurance. Your will provision disinheriting your children, will not apply.

[steveking]

Lane doesn’t seem familiar with the most basic beneficiary designations?

[kennethguilory]

Good morning could you please teach plain english lawyer some Latin so he can help the global team of NICER approved forgery proof administration Lawyers defend millions of families with the 33-year reformed Latin Law Permission Trust Administration?