Doug chats with Sean Mullaney (The FI Tax Guy) about the essential elements of estate planning. Sean covers the importance of planning for everyone (not just the wealthy), stresses the significance of having a will, updating beneficiary designations, and creating trusts to protect assets & ensuring financial security for loved ones. Special attention is given to estate planning in regards to kids (providing guardianship) and working with the correct professionals to plan for taxes.
The discussion is intended to be for general educational purposes and is not tax, legal, or investment advice for any individual. Doug and the Mile High FI podcast do not endorse Sean Mullaney, Mullaney Financial & Tax, Inc. and their services. Guest appearances on the podcast do not constitute their endorsement of any sponsors of the Mile High FI podcast.
Looking for help with your estate plan? Trust & Will provides online tools for creating, you guessed it… trusts and wills. For those who don’t have any estate planning documents in place, this could be a good option to get started. We’re affiliates so we can earn a commission if you sign up. Thanks for the support.
https://milehighfi.com/trustandwill
Be sure to check out the new GhostBed Massage Topper. Save 50% site-wide on your new mattress, pillow, and bedding over at GhostBed (coupon code: MILEHIGHFI)
Need a fee only advisor? Nectarine is a network of financial advisors where you just pay for investing & planning advice. Advisors don’t manage your money, sell products, or earn commissions. We’re affiliates so we can earn a commission if you sign up. Thanks for the support.
https://milehighfi.com/nectarine
If you have any tips for talking about death & estate planning come share over at Buy Me A Coffee.
Links
(*Some affiliate links so we might earn a commission if you buy something)
Connect with Sean Mullaney
The FI Tax Guy
YouTube
Mullaney Financial & Tax
The FI Tax Guy, “The Church IRA”
Sean’s podcast appearances
Mile High FI
ChooseFI
Stacking Benjamins
How To Money
Sean Mullaney, “Solo 401(k): The Solopreneur’s Retirement Account”
Kindle
Paperback
CampFI
Amy on MHFI episode 160
Carl Jensen
MHFI Facebook group
Doug’s site
Check out Producer Chris’s new blog:
Epic Financial Journey
—
Join the Mile High FI Club – It’s the email list!
Get MHFi Merch – It helps support the show. Get t-shirts & more
**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won’t even make such a claim. You shouldn’t take the info as financial, legal, or tax advice. We aren’t certified financial planners or advisors. We’re not qualified for much. So get advice from professionals.**
Brought To You By:
The Doug Show, aka Affiliate Marketing & Side Hustles
Email the show: doug@milehighfi.com
0:00 Introduction
2:59 Importance of estate planning
8:10 Four funnels
14:17 Beneficiary designations & revocable living trusts
20:52 Tips for discussing estate planning
25:42 Planning for kids
33:16 Working with financial planners & lawyers
36:43 Tax planning
45:53 Discussions with aging parents
52:45 Soundcheck – Home renovations
