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Best friends Joel and Matt are the co-hosts of How to Money which is all about providing the knowledge & tools that normal folks need to thrive in areas like debt payoff, DIY investing, and crucial money tricks that will provide continuous help along your journey. We believe that access to unbiased and jargon-free personal finance guidance is more necessary than ever before. When you handle your money in a purposeful, thoughtful way that works for your lifestyle, you can really start living ...
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Estate planning isn’t just for billionaires in New York penthouses or “trust fund babies” you’ve only seen in the movies. The truth is, whether you’re raising kids, caring for a loved one with special needs, or simply want to be sure your savings go exactly where you intend, estate planning touches almost everyone. In this episode of Financially Ever After Widowhood, attorney Claire Steinman joins Stacy to take the mystery (and the drama) out of wills, trusts, and gifting strategies. Claire focuses her practice on estate and tax planning, estate administration, and the nonprofit sector, with experience ranging from simple wills and powers of attorney to sophisticated tax minimization strategies and contested probate cases. She also works closely with charitable beneficiaries and not-for-profit organizations on everything from testamentary trusts to federal tax exemptions. Spoiler: this conversation has a lot more peace of mind and a lot less Agatha Christie mayhem.
You’ll hear them discuss:
- Why having even a simple will is essential for nearly everyone, not just the ultra-wealthy
- How trusts can help protect kids, support loved ones with special needs, and even shield assets from creditors or divorce
- The surprising flexibility you have in deciding when and how children inherit money
- Smart ways to gift assets during your lifetime, including the $19,000 annual exclusion and tuition or medical payments made directly
- How to choose the right trustee, from family members to professional institutions, and the pros and cons of each
- State-specific estate tax “gotchas” like New York’s infamous cliff tax and inheritance taxes in places like New Jersey and Pennsylvania
- Why blended families and second marriages absolutely need updated estate plans to avoid family fallout
Resources
Claire Steinman on the Web | LinkedIn | Email: [email protected] | Phone: 212-453-1554
Stacy Francis on LinkedIn | X(Twitter) | Email
Reach out to receive a complimentary consultation! Contact Francis Financial at +212-374-9008 or visit Francis Financial today!
214 episodes
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