#027: Estate Planning, Wills, Trusts and POA Considerations with Bill Ellsworth, J.D.

Less than 50% of adults have a will, and only 33% have an estate plan. They're not just for "rich" people; not having a proper plan can cost thousands of dollars in unecessary legal fees. Those fees could cost your family and estate even more than the cost of creating an estate plan! What's more, leaving assets and people behind without the right paperwork could cause enormous heartache, family conflct, and burden your loved ones with days, months - even years of estate settlement work if you become disabled or die.

Bill Ellsworth is an Estate Planning attorney who has spent years creating comprehensive estate plans for a wide range of incomes and ages. This episode of The Matt Feret Show will give you an insider’s guide to all the aspects and considerations of estate planning, including healthcare power of attorney, wills, trusts, special situations, and a whole lot more.


00:00:00 Intro

00:02:09 Bill’s professional background and specialization

00:03:21 What is estate planning?

00:04:04 Wills

00:06:46 When you need a will and what wills cover.

00:08:51 Wills, assets and age.

00:10:51 How wills and trusts work together.

00:12:02 Trusts and tax planning.

00:16:46 Should you DIY wills and trusts?

00:20:10 Estate planning and power of attorney.

00:22:12 Risks of not having power of attorney designations.

00:24:02 How to choose a healthcare power of attorney.

00:27:20 How to choose a property or financial power of attorney.

00:29:42 Beyond estate planning basics – premarital agreements and general asset protection.

00:30:43 Gifting trusts.

00:31:52 Irrevocable trusts and intentionally defective grantor trusts.

00:33:12 Estate planning with children.

00:39:51 Do you have to be present for the reading of a will?

00:42:08 Estate planning and family dynamics.

00:45:48 How do I make my passing easier on my family and heirs?

00:49:31 Show Wrap!

Full episode transcript, notes, quotes and links:


Be sure to check out Prepare for Medicare - The Insider's Guide to Buying Medicare Insurance

AMAZON BOOK LINK: https://amzn.to/3G4ZWbU

AMAZON WORKBOOK LINK: https://amzn.to/39H7cP4





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