The 3 Parts to a Perfect Estate Plan: Part 2a: Non-Probate Transfers
Big Picture Retirement®
Devin Carroll
4.7 • 545 Ratings
🗓️ 28 April 2025
⏱️ 27 minutes
🧾️ Download transcript
Summary
In this episode, we explore how to pass on your assets smoothly and efficiently—without dragging your loved ones through probate court. You'll learn why probate can be costly and time-consuming, and how non-probate strategies like beneficiary designations, joint ownership, and revocable living trusts can help you keep more money in your family's hands and less in legal fees.
Although this show does not provide specific tax, legal, or financial advice, you can engage Devin or John through their individual firms.
📍Contact Devin's team at https://carrolladvisory.co/podcast1
📍Contact John's team at https://www.rossandshoalmire.com/
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Transcript
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| 0:00.0 | The Big Picture Retirement Show does not provide tax, legal, or financial advice. |
| 0:04.3 | Listeners are encouraged to seek out their own advisors in these areas. |
| 0:11.3 | Hey, everyone, welcome to the Big Picture Retirement Show. |
| 0:13.9 | I'm your host, Evan. |
| 0:14.9 | Join today by my co-host, John Ross. |
| 0:17.7 | Howdy. |
| 0:25.7 | Yeah. John Rolce. Howdy. John, we've been doing this series on a state planning. |
| 0:27.9 | Yep. |
| 0:28.3 | And we thought we were going to do three episodes. |
| 0:31.9 | Right, because there's three parts. |
| 0:33.1 | But here we are in the third episode, and we're not even halfway finished with this yet. |
| 0:37.2 | No, we're not. So in the first two episodes, we talked about planning for incapacity. That's right. We talked about powers of attorney. We talked about the importance of those powers of attorney, the financial power of attorney, the medical power of attorney, so on and so forth, etc. We talked about long-term care option. I even challenged you a little bit on using Medicaid for long-term care. |
| 0:55.8 | That's right. |
| 0:56.5 | It's a good conversation. |
| 0:57.6 | Yeah, good times. |
| 0:58.3 | So if someone is just tuning in to this, I would encourage you to go back, listen to those first two episodes. |
| 1:04.7 | It lays a lot of groundwork for the material that we're getting in today. |
| 1:08.6 | That's right. Yep. |
| 1:09.9 | Yeah, you know, the last part of that, |
| 1:12.2 | we were talking about the powers of attorney. And, you know, when you're talking about the powers of attorney, |
| 1:16.1 | you got the financial, the medical, the HIPAA release. And the last one is the directive to physicians |
| 1:19.7 | or advanced directive. And of course, that's you saying what you want at the very end of life, |
... |
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