Why Millions of People Lose Their Money When They Die & How To Avoid It (with Allan Gibber, Esq.)

Kosher Money

Living Lchaim

Frum, Eli Langer, Management, Jew, Judaism, Religion & Spirituality, Business, Finances, Orthodox, Jewish, Careers

5 • 781 Ratings

🗓️ 3 July 2022

⏱️ 90 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

This is an important episode.

Estate planning is the management of a person’s estate DURING a person's life in the event the person becomes incapacitated or dies.

It’s not a whole lot of fun to think about, but one can save their family a whole lot of grief if they properly take care of merical directives, healthcare proxies, a will, a trust, HIPAA release forms and more.

Fret not: there are people whose sole job is to help you with all of this.

* TIME STAMPS *

00:00 Intro

02:32 Who is Allan Gibber?

03:49 Is Estate Planning Just for the Rich?

07:57 Planning Wisely

10:10 The List of Items

11:20 Medical Directives, Healthcare Proxy & HIPAA Release Form

20:40 Aging Gracefully with Parents

22:50 Power of Attorney

29:30 Trusts & Wills

35:36 Updating & Storing Important Information

41:00 Sponsor

42:46 County & State Laws

48:20 Knowing How to Spot the Right Estate Planner

51:28 Fees of an Estate Planner

52:30 Allen Gibber’s Contact Info

53:30 Structuring Family Businesses & Equity Splits

1:00:30 Sponsor Message

1:02:15 Informing Family of Your Decisions

1:06:10 Turning a Secular Will into a Religious Will

1:27:00 An Important Parting Message

1:28:06 Outro

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As a reminder, all investment strategies and investments involve risk of loss. Nothing contained in this episode or any of our episodes and videos should be construed as investment advice. Got it? Good!

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Transcript

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0:00.0	A person has to appreciate what happens to a person's property if they pass, and if it's
0:08.5	200,000 or 100,000 or 200 million, a person's going to want it to go in a certain way, maybe
0:14.2	to protect the spouse, maybe to protect children.
0:17.6	The law may do that, it may not, and it's necessary to give some thought to that.
0:24.9	And people will say, well, maybe it doesn't really matter because I have everything jointly with my spouse, so it doesn't matter.
0:30.7	But it's a little bit short-sighted.
0:32.5	What happens to your money after you die?
0:35.2	This and other questions are critical to ask yourself and most people don't
0:40.7	think about it. Power of attorney, health care proxy, right? If God forbid something was to happen to you,
0:46.7	who makes the medical decisions? Do you have a will? HIPAA release forms, a list of assets, where do you keep a password document that people
1:00.4	that you love can access.
1:02.6	There's so many questions.
1:04.7	And I would say this is one of the, we've done almost 30 episodes now.
1:08.6	This is one of the top five episodes in terms of importance.
1:13.8	This is something that I've thought about a little bit.
1:18.0	I took care of some of it, but it's critical.
1:21.7	It's critical.
1:22.3	No, this is not the most exciting investment making loads of money type of conversation but a you can save yourself
1:30.5	a whole lot of money um and it's important to have these conversations with loved ones and if you
1:38.0	implement the things that alan gibber who's basically wrote the book on estate planning, not basically he did.
1:46.9	It's, I think, now in its seventh edition.
1:49.3	He's been doing this for over 40 years.
	...

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