Complete Estate Planning

Here's a situation most people don't really think about: what happens if one of your beneficiaries dies before you do? It's not just a legal formality, it's a scenario that can create confusion, delay, and unintended consequences for your estate plan. If your plan doesn't account for this possibility, state law might decide where the money goes, and the results could be far from what you intended. In this episode, Nick breaks down what actually happens in these cases and why your estate documents need clear, thoughtful instructions for life's unexpected turns. Here's some of what we discuss in this episode: ⚠️ What happens when your plan doesn't have a backup

A family business is often more than just an asset—it's a legacy. But passing it on after the death of the owner can create big challenges, especially when some heirs want to keep it running and others want out. In this episode, we dig into the legal and practical issues of transferring ownership of a family business through an estate plan. We'll look at common scenarios where one child is involved in the business while others are not, how to handle buyouts fairly, and how to avoid turning your business succession into a battleground. Spoiler alert: planning ahead is key. Here's some of what we discuss in this episode:

When it comes to estate planning, assigning roles to your loved ones can feel overwhelming, especially when you're considering putting one person in charge of multiple responsibilities. In this mailbag episode, Nick addresses a common listener question: Can my daughter be both the executor of my will and my healthcare power of attorney? Or is that too much for one person? Here's some of what we discuss in this episode:

Losing a spouse is an emotionally overwhelming experience, and in the midst of grief, legal and financial matters often feel like the last thing anyone wants to think about. But making sure your estate plan reflects your new reality is one of the most important steps you can take after a loss. This episode walks through the essential updates and reviews that surviving spouses need to consider. Here's some of what we discuss in this episode:

Today, Nick answers a thoughtful question from parents trying to strike the right balance: they want their kids to receive their inheritance at age 25, but also want to carve out early access for a first car or a home down payment. The catch? They're worried about getting the numbers wrong, especially with inflation, rising costs, and the unpredictability of the future. Nick breaks down two smart strategies to help parents plan with confidence. Here's some of what we discuss in this episode:

When people hear the term “power of attorney,” they often assume it's a one-size-fits-all document that gives someone authority to handle everything if they become incapacitated. There are actually two completely different types of powers of attorney. In this episode, Nick breaks down how each one has its own purpose, responsibilities, and potential pitfalls. You'll learn how they're different, what each involves, and why choosing the right person for each job can make a world of difference in how smoothly things go if you can't speak or act for yourself. Here's some of what we discuss in this episode: ⚖️ Different jobs, different documents and one won't cover it all

When you set up a trust but don't have a friend or family member you trust to manage it, what's your next move? In this episode, we answer a question on a sensitive and critical decision in estate planning: how to choose the right corporate trustee? Should you go with a big national firm or a smaller local institution? Does it matter if you already have a relationship with the bank or company? Here's some of what we discuss in this episode:

Are you saving so much for retirement that it's squeezing your life today? In this episode, Sean answers a viewer question about finding the right balance between preparing for the future and living fully in the present. Can you save too much? Are you over-saving at the expense of living now? Sean addresses the listener's concern that he's maxing out multiple accounts but still feels like he's living paycheck to paycheck. It raises an important point: Is it possible to be too focused on the future and miss out on the present? Here's what we discuss in this episode:

When someone passes away, their bills and debts don't just disappear, but that doesn't mean their family has to rush to pay everything immediately. In this episode, we explain how debts are handled after death, what families (especially executors) need to do, and what to expect if no one has access to the deceased's money yet. We'll also clear up common fears about personal liability and explain how reimbursement works when someone covers bills out of pocket. Here's some of what we discuss in this episode: ⚠️ Why family members are usually not personally liable

Most parents try to split up everything evenly for their children but how do you do that with a home? While bank accounts and retirement funds can be easily divided, a house poses unique challenges. It's a very common estate planning discussion in our office and one that we recently got asked about. What are the options for splitting a home between multiple children?  You can't exactly slice a house in half.  Would they be forced to sell it? Today, we'll walk through the practical and legal considerations of dividing an asset like this, offering insight into different approaches depending on whether the home is to be sold, kept, or passed on with sentimental value in mind. Here's some of what we discuss in this episode:

Lending money to a child is common, whether it's for buying a home, starting a business, or getting through a tough financial patch. But when it comes time to plan your estate, that unpaid loan can create real complications. Should you forgive the debt when you die? Or treat it as an advance on that child's inheritance and reduce what they receive? An estate plan will utilize two primary approaches to resolving these loans, and we'll discuss the pros and cons to each.  Here's some of what we discuss in this episode: ⚖️ The pros and cons of forgiving vs. equalizing through inheritance

What happens when your name is on a parent's bank account or home as a co-owner, yet their will says everything should be split among the three siblings? That's the situation we're addressing in this video to help the co-owner understand what options you have when it comes to splitting the inheritance up. Here's some of what we discuss in this episode:

Even if you're planning to leave everything to just one person, like an only child, it might feel like you don't need an estate plan. After all, what could be simpler than passing everything on to a single heir? But estate planning isn't just about how many people you're leaving assets to. It's about how you leave things, making sure your wishes are honored, minimizing complications, and protecting both you and your heir. In this episode, we unpack why an estate plan is still essential, even when you have only one heir, and explore the smart, simple, and safe ways to pass on your assets. Here's some of what we discuss in this episode: ⚠️ Probate still applies—even with one beneficiary

What happens when you have assets in your name but you don't really consider them yours? It's not that uncommon to work with people who need to account for things like a parent's home or a child's bank account in their estate plan. In this episode, Nick answers a listener's question about how to handle assets that fall into this category while avoiding confusion in the future. Here's some of what we discuss in this episode: ⚠️ Legal & Tax Risks – The hidden dangers of holding assets for others

A well-drafted trust should protect your assets, ensure your wishes are followed, and make things easier for your loved ones. However, even estate planning attorneys can make mistakes that lead to costly problems. In this episode, we'll cover four major mistakes attorneys make when drafting trusts—so you can recognize and avoid them in your own estate plan. Here's some of what we cover: ✅ Fund Your Trust: Unfunded trusts force assets into probate.

When it comes to children's inheritance, should they all receive their share at the same time, or should each child wait until they reach a specific age? In this episode of Complete Estate Planning, Nick answers a common question: Is it fair for older children to receive their inheritance while younger siblings wait? Here are some of the key topics we'll cover:

One of the biggest decisions a married couple faces when setting up an estate plan is whether to create a joint trust or separate trusts. The right choice depends on several factors, including how they manage their finances, asset ownership, and estate planning goals. In this episode, we'll break down the pros and cons of each option and discuss when a joint trust makes sense versus when separate trusts are the better choice. A joint trust can be ideal for couples with shared finances and assets, simplifying estate management. On the other hand, separate trusts offer more flexibility and protection, particularly for couples with different financial situations, blended families, or distinct estate goals. We'll break down the key scenarios for each choice and provide insight into how your specific needs can influence the right decision. Here's what we discuss in this episode: 0:00 – Intro 0:39 – Show update 4:37 – Joint trust 7:17 – Separate trust 11:25 – What do clients choose? 13:31 – Can you change after? 16:57 – Key takeaways  

We talk a lot about estate planning on this show, but what about the other side of the equation- inheritance? Today, we're diving into how people screw it up. There are plenty of ways to go wrong, but we're breaking down the five biggest mistakes Nick sees people make when they receive an inheritance.   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

Many people start out with a will, but is there a time when it makes sense to upgrade to a trust? Is it possible, and what does that process look like? We'll walk you through the steps, share when it might be the right time to make the switch, and explain how to make it happen in today's show.   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

Understanding whether a Special Needs Trust is necessary can be complex, especially if your child isn't receiving Social Security Disability benefits. In this episode, we explore the purpose of Special Needs Trusts, how they work, and why they might still be a crucial part of your financial plan. Don't miss these valuable insights to help secure your child's long-term care and financial stability.   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

Estate planning covers a wide range of scenarios, and most often, it involves taking care of your family or spouse. But what happens if you're not married and still want to ensure your partner is provided for? In this episode, we'll explore key considerations, differences, and arrangements to keep in mind when planning for such situations.   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

Life is unpredictable, and sometimes the unexpected can happen. Today, we're discussing a tough scenario: what if you undergo surgery and don't make it? Tune in as we explore key estate planning precautions you can take to prepare for such situations.   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

What happens when your spouse passes away? What comes next? In today's show, we'll discuss some important action steps to take, key estate planning documents to review, beneficiary designations to consider, and much more.   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

How many 'what-ifs' do you need within your estate plan? In this episode, we'll dive into the importance of contingencies in estate planning and walk you through the step-by-step process Nick and his team follow to ensure every detail is covered.   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

We're always talking about how important it is to have an estate planning attorney. But what if your attorney is actually screwing some things up? Today, we're diving into 8 ways they might be getting it wrong.   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

Are you considering tackling your estate plan on your own? While it's certainly possible, the dangers of DIY estate planning often hide beneath the surface. In today's episode, we're going to bring some of those issues to the forefront and share why working with an estate planning attorney is well worth it.   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

As the election approaches, many are wondering how the outcome might affect their finances and taxes- but have you thought about your estate plan? In this episode, Nick covers some of the potential estate planning implications of both candidates and what their policies could mean for you. Tune in to stay informed and prepared.   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

You've established your estate plan- does that mean you're all set? Not quite! Regularly reviewing and updating your estate plan is important. But when should you do this? In today's episode, we'll discuss some key moments in life that call for updates and guide you through the regular review process.   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

Is privacy a concern for you in estate planning? In this episode, we dive into essential strategies to protect both your family's confidentiality and your estate. Tune in to learn how proactive planning can shield your family from the public eye and avoid complications down the road.   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

In today's episode, we're breaking down the differences between two types of power of attorney: springing and immediate. What sets them apart? And why might choosing an immediate power of attorney be the smarter option for you? Stay tuned to find out!   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

Most people want to leave their money to their children. But what happens if the primary beneficiary isn't around to receive it? In that case, the gift lapses and a backup beneficiary is designated. A common question is whether to name your child's spouse as the backup beneficiary. In today's episode, Nick will explore some of the pros and cons of this decision.   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

When it comes to estate planning, one of the biggest concerns is taxes. What will be owed? How will these taxes be paid? How much can actually be passed along to your heirs? Join us as we dive into the various taxes trustees and executors need to be aware of when settling an estate.   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

When it's time to settle an estate and start selling off assets, you might have friends and family looking for good deals. But is it wise to make deals? How should you go about selling these assets? What's the best way to document and transfer everything? Today on Complete Estate Planning, we'll break down these questions and offer some important considerations.   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

In today's episode, we're talking about passing down valuable assets such as family businesses and farms. Whether you're unsure how to divide your estate among multiple children or want to ensure your legacy is preserved, this episode is for you. We'll explore key considerations, essential questions, and how Nick goes about this with his clients.   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

In this episode, we're exploring two different paths you can take when designating benefits. We focus on the pros and cons of itemizing individual accounts versus dividing a percentage of your entire estate. We also look at how each approach can impact your financial legacy. Tune in as we break down these strategies to help you choose the best path for your estate planning goals.   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

One of our favorite ways to bring you estate planning education on the show is by answering your questions! In today's episode, Rich asks about the annual limits for tax-free gifting, gifting to trusts with protections, and common mistakes regarding estate and lifetime GST tax returns. Elaine asks for advice on leaving a portion of her IRA to her new spouse while ensuring that her children receive whatever remains.   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

The recent passing of O.J. Simpson has stirred up a legal storm that we're going to unpack in today's episode. Simpson's estate is a convoluted web of trusts, lawsuits, and debts that Nick will try to help us untangle from an estate planning perspective. He'll also take us through the possible scenarios that could unfold as the estate proceedings continue.   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

Last episode, we started a special two-part series where Nick guided us through the steps involved when someone passes away. We're here to finish up this discussion today. Listen in as Nick talks about what it looks like to settle a trust after death in Ohio. Although trusts can vary widely in complexity depending on the terms of the document, this episode will give you a good idea of how settling a trust differs from the probate process.   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/   

We've talked about probate here on the show before, but what does the process look like from start to finish? Join us for a special two-part series, where Nick will guide us through the steps involved when someone passes away. In this episode, we'll outline the key stages of the probate process (based in Ohio). Don't miss our next episode, where Nick will walk through the process of settling a trust!   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

Our podcast listeners frequently send in questions for Nick. In today's show, we've chosen a few questions to chat about on the air. For example, one listener asks if they need an estate plan since they're single, childless, and have a financially independent family. Another asks if there is a way to assist their aging mother with her finances without entirely removing her independence through estate planning. Stay tuned for some valuable insights here on Complete Estate Planning!   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

You've probably heard the old saying, "What you don't know can't hurt you." But when it comes to inheritance conversations with your children, that isn't entirely true. Stay tuned as we share some crucial considerations for navigating these estate-planning conversations with your loved ones.    Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

With home prices continuing to climb, a house ends up being the most valuable asset for many families. However, it can also be the most difficult to deal with in an inheritance after someone passes away. One of the biggest issues people run into is the owner passing away while the house still has a mortgage or a line of credit against it.   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

The Corporate Transparency Act (which was enacted in January of 2021) has taken effect as of January 2024. Under the new law, small businesses have new disclosure and reporting requirements with the Financial Crimes Enforcement Network. This law is retroactive and includes businesses that were already in existence BEFORE the CTA went into effect. Along with the new requirements, there are significant fines/penalties for being in violation of the law. Listen in as we talk about what you need to know!   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

Many people automatically think of how to handle or “plan” for their assets when estate planning comes to mind. However, inheriting someone's assets is only one piece of the puzzle. This is why someone asking “How much money do I need to have before I create an estate plan?” is always the wrong question. Let's cover a number of estate planning goals that have nothing to do with someone's assets.   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

An important (and often overlooked) part of estate planning involves arranging for a person to have their medical needs taken care of. This usually involves a combination of appointing a decision maker (your power of attorney agent or surrogate, depending on the state you live in) and using an advanced directive to affirmatively state your wishes. Most states include certain decisions where you can either make the decision yourself or leave the decision to your healthcare decision-maker.   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

We have listeners from all over the country reach out and ask us estate planning questions, so we thought it would be helpful to answer some of those questions on the podcast today. One listener asks how to handle partial business ownership interest in a small business. Another listener asks about the most effective and beneficial way to leave a donation to charity upon their passing. Stay tuned to see how Nick answers these questions and more!   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

We've spent many episodes discussing how important trust funding is to your estate plan (assuming a trust is a part of your plan). However, the process can be tedious at times. Many attorneys don't handle the trust funding for the clients (or only provide minimal guidance), which can lead to further trouble. On top of that, various banks, employers, and investment firms can often frustrate clients even further. A good, experienced attorney should be able to navigate clients through any roadblocks, warn them of potential issues, and have options for how to finish the job when issues come up.   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

Have you ever wondered what happens to assets that you don't have full control over, like stock options or family businesses? Listen in as we chat about the complexities of assets that come with strings attached. What can you do with these while you're alive, and what happens when you're gone? Tune in for those answers and more on today's show!   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

Picture this: You leave your lawyer's office after completing your estate planning documents. You might think this is the end of the process, but that's not necessarily the case. Stay tuned as we discuss the arrangements you need to make beyond the legal paperwork to ensure your affairs are in order.   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

Many couples automatically assume that, after one spouse passes away, the survivor will retain control of everything. Certainly, that is the “default." However, certain factors can complicate matters. Issues of trust, control, blended families, and separate finances mean it is important to understand all of your options before deciding on the best plan.   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/ 

In our increasingly interconnected world, it's becoming more common for individuals to own assets not just in their local area but across state lines and even international borders. Join us as we explore this scenario that has been coming up a lot at the Rosenbauer Law Office. Listen in as we discuss the challenges and strategies for effectively handling assets that are far from home.   Contact:   513-463-6789   info@CincinnatiEstatePlan.com https://cincinnatiestateplan.com/contact/