According to PEW research, over 90% of Americans do not have long-term care insurance. And yet, the Department of Health and Human Services says that more than half of adults 65 or older will need long-term care at some point. This means there’s a good chance that you or your aging parents are going to need long-term care. In this episode, my guest, Cameron Huddleston, interviewed me about how to plan for long-term care, whether long-term care insurance is actually a good idea for you, and some ...
Jan 12, 2022•42 min
Did you know that financial mistakes are one of the biggest signs or symptoms of Alzheimer's and related dementias even up to six years prior to a diagnosis? And according to the journal of health economics, during early-stage Alzheimer's people are up to 27% more likely than cognitively healthy people to experience a large decline in their liquid assets, such as savings and checking accounts, stocks, and bonds. The fact, that Alzheimer's and related dementia people are likely to experience fina...
Nov 17, 2021•31 min
Have you ever had to make the decision to let someone else die? Or even a decision for someone else to have a procedure that could lead to their death. Or, did your family have conflict around either one of these topics? While we're healthy, it's really easy to ignore these issues. It is much harder to talk about them and even more difficult when someone gets ill. But as my guest today will tell you, these are crucial and loving conversations, and having them can make all the difference. Dr. Kim...
Nov 03, 2021•33 min
Is your whole retirement planning strategy based on the assumption that you're going to be in a lower tax bracket upon retirement? In this episode, Nicole Wipp talks with John Rohrhoff from JR financial services about income taxes and retirement tax myths. Also, why many individuals do not account for future potential taxes when making financial decisions, today. Visit smartplanning101.com/37 for more information about John and this interview....
Oct 20, 2021•24 min
In this episode, I talk with John Rohrhoff from JR financial services about socially responsible investing, what it is, things to think about, and how to get started. Visit smartplanning101.com/36 for more information.
Oct 06, 2021•23 min
The FBI estimates that seniors lose more than $3 billion each year to fraud. So what happens when a beloved grandchild calls, begging for money because a bad thing happened to them. Well, you know the answer. That's why this has to be a family conversation, right now. Today’s episode is about “The Grandparent Scam”. Also, how to start important conversations with your elderly loved ones, about various scams, and possible elder abuse.
Sep 22, 2021•9 min
Right now, we are thinking about our healthcare and our privacy more than ever. In this episode, Nicole covers what “healthcare privacy” really means, what the limits of privacy are for us as individuals, and what the law says about our healthcare and privacy. In this episode: What “healthcare privacy” really means what are the limits for us as individuals What does the law say about our healthcare and our privacy The government’s role in maintaining or protecting our privacy Employment and heal...
Sep 08, 2021•23 min
What is the second-worst thing that could happen to your children, if something happened to you? It's simply this: that you didn't make a plan for them. In this episode, I’m going to talk about four major planning considerations that every parent with minor children should be thinking about when they’re doing their estate planning, whether or not you've started your planning yet. Visit smartplanning101.com/33 for show notes and more information about The Smart Planning 101 podcast....
Sep 01, 2021•14 min
Have you ever heard that you can give away up to $15,000 per person per year to avoid gift tax? Spoiler alert: the government gives with one hand and takes away with the other. Now, as a general statement. This shouldn't surprise anyone, but when it comes to giving away money and other things to your kid, your family, or anyone you want. There really are some unpleasant surprises out there waiting for you. What are they? That's what today's episode is all about. Disclaimer: Although I am a lawye...
Aug 25, 2021•22 min
Do you, or do your parents or even grandparents, want to remain at home for the rest of your life? For over 75% of people age 50 and above, the answer is yes. But sadly, less than 1% of people actually live in an environment that makes this possible. Right now we are at a unique point in history where there is legislation that can actually help counties, cities, and municipalities create a new reality for their residents. Join me with my special guest, Esther Greenhouse, to learn more about the ...
Aug 18, 2021•35 min
Do you need estate planning? I'm going to talk about 14 of the major considerations you should be thinking about when you're considering whether you should plan no matter what your age. Now just be aware, this is of course not legal advice. This is just general information and you really should get with a qualified estate planning or elder law attorney if any of these issues apply to you. Visit https://www.smartplanning101.com/about-smart-planning-101 to learn more about the podcast. If you're i...
Aug 18, 2021•19 min
It's been five years since I've recorded a podcast episode on Smart Planning 101, but I'm back! And the content is more important now than ever. In this short episode, I'll explain why I stopped recording episodes. But why I'm restarting now and why you will want to join me. Visit https://www.smartplanning101.com/about-smart-planning-101 to learn more about the podcast.
Aug 18, 2021•4 min
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 treatm...
Nov 29, 2015•42 min
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 thi...
Jul 16, 2015•13 min
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...
Aug 13, 2014•45 min
The Supreme Court’s recent decision in Clark v. Rameker means that every person needs to understand their options for protecting this important asset! If you own an IRA, 401k, 403b, tax-deferred annuity, or other qualified assets, 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 ...
Jul 07, 2014•41 min
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 Thank you for listenin...
Jul 06, 2014•26 min
How do revocable living trusts work? In this episode, host Nicole Wipp discusses what an "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 discusses some of the options you may want to consider with revocable living trusts...
Jun 24, 2014•16 min
What are we learning from “conventional wisdom” that may threaten our financial future? 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 be...
Jun 22, 2014•32 min
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. Irrevocable pure grantor trusts are mainly used to protect assets from creditors and predators and can be an excellent pre-planning tool for elder law attorn...
Jun 19, 2014•30 min
What is an irrevocable pure grantor trust, and why would someone want one? In this episode, David Zumpano, a nationally recognized expert on asset protection, estate planning & elder law, discusses with me this little-known (although widely used) trust – what it is, why we use it, and who it is for. In Part 1, you will learn: about the goal of helping a loved one to protect their autonomy why people end up in nursing homes (how failing to plan makes this more likely) why retirement isn’t nec...
Jun 17, 2014•28 min
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 maximum control of yourself, your family, and your life. When people wait until ...
Jun 17, 2014•24 min
Part Four of The 5 Things Adult Children of Aging Parents Need to Know Now (Episode 18): 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! Part 1: (Episode 15): The Cost of Long Term Care is Rising (And Why It Matters to You) Audrey gives some fact...
Jun 13, 2014•15 min
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. The 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! Part 1: (Episode 15): The Cost of Long Term Care is Rising (And Why It Matters to You) Audrey gives some facts and figures abo...
Jun 10, 2014•17 min
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 This topic is important because so many people (both children AND parents) have mistaken beliefs that things are “all taken care of” – and find out tha...
Jun 09, 2014•21 min
In this five-part series, I (Nicole) interview Audrey Ehrhardt, the Office Management Director of the national elder law organization ElderCounsel , and we 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 ...
Jun 08, 2014•23 min
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. Listen to the entire episode related to facts about wills you don't know: www.SmartPlanning101.com/11
Jun 04, 2014•2 min
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. Listen to the full interview: www.SmartPlanning101.com/10
Jun 03, 2014•1 min
The continuation of Steve Frank’s family story of his mother’s Alzheimer’s diagnosis and treatment. Did you miss part 1? Click here 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 fa...
Jun 02, 2014•38 min
Even though wills are one of the, if not the, most familiar legal documents there are, 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 a...
Jun 01, 2014•13 min
