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Patricia M. Annino is a nationally recognized authority on estate planning and a partner in the Boston law firm of Prince, Lobel, Glovsky & Tye LLP where she chairs the Estate Planning Group.
Our Co-Host, Jerry Ringler is one of America's most successful trial attorneys who has won over $200 million dollars in verdicts for his clients across a wide array of different cases
As a lawyer handling estate planning for over twenty years, Patricia has seen first hand how many women do not realize the importance of planning until it is too late.
She understands the way women learn and analyze. She has written a best selling book, Women and Money, A Practical Guide to Estate Planning, which has been recommended both by the Wall St Journal and Amazon.com.
Beginning with this show, and on a regular weekly basis, Patricia will bring alive her best selling book in a simplified manner to serve as your trusted companion embarking on the estate planning process.
Get the answer to some very important issues discussed on this show such as:
1. Why a book on estate planning for women - how does it differ than planning for men?
2. Why is it important to plan?
3. What is estate planning today? I understand it encompasses far more than making a will.
4. When should you start to plan?
5. What can you do to be sure that if you become disabled or incapacitated your affairs will be properly handled?
6. What about medical decisions - who can you nominate and what type of restrictions should be put in place?
7. Your book addresses planning through the phases of life - what should do when you are single, married, divorced, widowed, re-married - why are there different strategies?
8. What is a trust?
9. Is avoiding probate all that it is cracked up to be?
10. How do you protect your inheritance from being reached by your children's spouses and ex-spouses?
11. How much should you think about controlling beyond the grave?
12. What should you focus on when you are single?
13. What should you focus on when you are married?
14. What should you focus on when you have young children?
15. What should you focus on when you are divorced?
16. What should you focus on when you are widowed?
17. What should you focus on when you are remarrying?
18. What is a prenuptial agreement, when are they valid and what do they do?
19. Who should serve as your executor (personal representative)? What are the duties and what would they be expected to do?
20. Who should serve as your trustee? What are the duties and what would they be expected to do?
21. When does it make sense to have more than one trustee serving at a time?
22. What provisions should be made so that the beneficiaries can have some control later- when should a beneficiary have the right to remove a trustee?
23. Should you treat your children the same?
24. Your trust and estate plan will be implemented after you are gone - what can you do to make sure that your wishes are followed?
25.When should a trust end?
26. How can you protect your favorite charity?
27. What is the role of insurance - when should you consider it? Why? How can you evaluate it?
28. What about long term care insurance -when does that make sense?
29. What are the most common mistakes you see when someone is preparing an estate plan?
30. What is the most valuable piece of advice you can give a woman listening to this today?
WHAT ARE THE COMMON MISBELIEFS ABOUT ESTATE PLANNING?
Many people are confused and don't think that Estate Planning applies to them. Patricia explodes those old myths. Here's the myths and the reasons they are not true.
Myth 1: Estate Planning is only for the rich - not true - you appoint guardian of minor children in your will, when you don't have assets estate planning is important because you can use life insurance to create the wealth your family will need if your income disappears.
Myth 2: Estate Planning is only for when you die - not true- today it also addresses what happens if you become disabled or incapacitated, who will make your financial and medical decisions, for any lifetime transfers how do you set up trusts, for elder care planning how do you arrange your affairs.
Myth 3: if your husband dies you will receive everything - not true - under the laws of every state in this country the surviving spouse will receive something but is not guaranteed 100% - without planning any asset in your husband's name alone is split between you and your children.
Myth 4: Estate Planning is for when you are older - not true - it is important when you have children, it is important once you reach the age of majority to put medical proxies in place and state your intent - it is important if you have assets no matter what your age is, it is important to think about it before you get married.
Too often, women ignore the state of their financial affairs and/or depend on others in their lives to keep them in order. It is only too late that they (or their dependents) realize the significance of having their affairs in order not only in case of untimely death, but with increasing life spans and advances in medical care, in case of incapacity from illness or dementia. Patricia with 20 plus years of experience in estate planning, offers a book that explains, step by step and across many different living situations, why being prepared is necessary and how to determine your specific wants and needs in order to plan appropriately.
Our show presents a lot of complicated estate planning, financial, and tax matters in easy to understand terms with clear and realistic examples that women can easily relate to whether they are single, married, divorced, or widowed. In addition to explaining the legal aspects of planning, Patricia gives great tips, hints, and practical advice throughout the entire show. In a clear and accurate way, Patricia covers virtually every issue that women face in planning their estates, precisely because it raises the right questions and provides a menu of answers.
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