Estate Planning 101 | The Proper Way to Structure Your Estate Plan

Having the control to plan what happens to your estate (or stuff) when you die is important to people. If you have property, kids, or financial assets, you want to control who gets what should you pass away.

What to expect if you do nothing. Is a Will sufficient, or does a Living Trust make more sense?
Watch to learn all of the key aspects of a complete estate plan to take care of you and your family.

Want your estate plan set up?
Jim and his team can complete your estate plan in all 50 states.

Or, reach out to me to connect you to Jim.
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⏰ TIME CODES ⏰
0:00 Intro
1:35 Jim's Background
3:11 What is Estate Planning
4:15 What happens if you do nothing
9:01 A place for a Will
14:31 When do I need a trust?
18:25 Controlling a Trust
20:26 Successor trustee responsibilities
25:08 Revocable vs Irrevocable Trust
29:20 Special Needs Trusts
32:09 Common mistakes with trusts
33:20 How to fund a trust
52:47 Role of a notary
57:30 Transfer deed to trust
58:35 Update beneficiary designations
58:45 How a will and trust work together
1:02:48 Durable Power of Attorney (Finances)
1:05:29 Healthcare Directive
1:11:16 How to start an estate plan
1:13:42 Cost to do an estate plan
1:15:54 Where to contact Jim

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#estateplanning #livingtrust #livingwill #willvstrust #theretirementnerds #retirementnerds

PLEASE NOTE:
This video is for education purposes only.
It does not constitute legal advice for your specific situation.

[arcobyte]

This guest is FANTASTIC! As a paralegal that is branching out to probate, I am very thankful for his easy to understand teaching style. I loved how he said "Great question" so many times. Most great teachers do that bc they realize that equipping others with knowledge is a gift. Thank you for posting this video!!

[Al-mkxl]

I spoke to few estate attorneys and viewed few vids on the subject, but still made few assumptions that were incorrect, and despite my learning about the process I still left out few things that I learned from this video. I also have to say this is the most comprehensive video I ever seen and this is far better than the advice I paid for to get from some local attorneys. Thank you.

[BobBennett-vehq]

The guest is amazing. This is a Masterclass for free. I aprreciate all this information being provided.

[jctazgarfield]

This is the most detailed Estate Planning conversation I have ever heard! Excellent job.

[junebug]

Thank you!
The interviewer did an amazing job and the guest answers were precise and in depth.
That’s excellent!

[marianwildgruber]

Thanks! I found this it just the right time and loved it! I'm going to use this company and cancel the appointment I just made with a local law firm. We plan to move to another state in the next couple years, so sending you a thanks for saving us money since our living trust and other documents will probably change in another state is well worth it and this video is amazing and was shared!

[youkimbo]

He is amazing at explaining all the legal, sometimes intimidating, terms in simple & concise ways so we can understand easily. I learned so much by watching this video (3 times) on wills, living trusts, and how to prepare for my estate planning.
Thank you & Jim.

[jayaghoorah]

Jim Burch is great.he makes things very easy to understand. Thank you Mr. Burch.

[johneimen]

I've watched many videos on this topic as I gather information before deciding what to do. This one is by far the best, most detailed and most fact-filled one I've found so far! I plan on watching it again (at least one more time!) and taking lots of notes. I plan on telling my friends about it, too!!!

[olgased]

What a great conversation! Wow! Both Gentlemen are brilliant! I cannot stop watching Erik's videos. They are exceedingly educational, yet articulated in plain English so that anyone can understand what's being said. Precious. Thank you.

[wdm]

As always great host. One of the best guests I've seen. Concise, understandable, and sound guidance.

[tammystewart]

We had a will, now I have a new will and put my house in to a revocable trust. I’m in a lease for life. My husband passed 6 months ago and I retired 5 months ago. I’m in good health and I’m 63. I also live in PA and my home is now in my children’s name, I’m in a lease for life and I’m in my 5 year window. Here’s to all of those nay sayers, we were married 42 years.

[Drexgreen-x]

Out of a dozen videos waded thru this is the best one so far on Trusts!

[lorahernandez]

Thank you for this great informative video! The guest and the interviewer are exceptional in their answers and questions.👍

[christined]

I LOVE, LOVE, LOVE your channel. I love your topic choices, your presentation, and your “radio voice.” Your presenters know what they are talking about. They do not use a lot of fluff and speak in a manner that is easy to understand. You have great questions for them and you guide them through the topic in an easy to understand format. Thank you so much and keep up the great work!

[austintehguy]

Between the Medicare videos, Jim Burch and Zacc Call - this channel has become such a comprehensive resources for all things personal finance and retirement. Thank you for this! I'm only 25, so it'll be a bit until my wife and I start getting a trust put together, but with the recent birth of our son we're starting to look at our options more seriously and I know I'll return to this video and Zacc's video on the prosperity projects multiple times over the next decades. Fantastic stuff.

[dotunfamakinwa]

This has been awesome! Thanks so much. Awesome questions and even more awesome guest!!! He’s able to explain things in very simple terms. Saved this episode for future reference. Thanks again!

[kathleendow]

Unbelievable video! I can't believe how much I learned with your guest. Everyone should watch this video if they want ease of learning will needs. Thank you so very much!!

[LauraT-ty]

Absolutely on-point for those who need to set up a Trust or Will or both. Exceptional info!

[jodi]

This was an excellent video overview of Estate planning. Thank you SO much!
My husband and I set up a trust in 2021, but I am now realizing how all of my 40year old girlfriends and their spouses know nothing about how essential this planning is for their families. Forwarding this video to all of them!