6-9-26 The Dirty Dozen of Estate Planning - The Russ Newton Interview

The Dirty Dozen of Estate Planning: Are you making costly estate planning mistakes without realizing it? Jon Penn and Estate Attorney Russ Newton break down the most common errors people make when creating wills, trusts, powers of attorney, beneficiary designations, and charitable gifting strategies. From dying intestate and failing to update documents, to misunderstanding Texas estate laws, TOD and Lady Bird deeds, testamentary trusts, and living trusts, this discussion covers the practical steps families can take to protect assets and avoid unnecessary legal problems. We also explore charitable gifting strategies involving IRAs, 401(k)s, QCDs, and more advanced trust planning tools designed to preserve wealth for future generations. 0:00 - INTRO 1:48 - A Practical Estate Attorney 3:00 - Common Mistakes to Avoid - Procrastination 6:10 - Dying Without a Will - Intestate 9:13 - Do-it-Yourself Estate Planning - Avoid Ambiguity 12:35 - Failure to Revise or Update Will 14:21 - Moving to a Different State - State Conformity 16:02 - Coordination of Beneficiaries & Assets 18:34 - Naming Agents on Power of Attorney - Two Powers of Attorney in Texas 22:34 - Using a Will vs a Living Trust - Naming Assets Properly 26:35 - Pour-over Will 27:48 - TOD/Lady Bird Deed 29:37 - Testamentary Trusts - Protecting Assets "from the grave" 32:46 - Three Considerations: How Long, How Accessed (HIMS), Who is Trustee 34:53 - Tangible Assets (everything but real estate) 38:23 - Ignoring Estate Plans 39:53 - Charitable Gifting (401k & IRA, QCD's) 43:53 - More Sophisticated Trust Planning Tools Hosted by RIA Advisors Senior Investment Advisor, Jonathan Penn, CFP w Estate Attorney Russ Newton Produced by Brent Clanton, Executive Producer ------- Do you enjoy our content? Rate us on Google: https://bit.ly/4b9JtEo ------- Watch Today's Full Video on our YouTube Channel: https://youtube.com/live/pXCNeZIBR6k ------- Download Lance's Latest e-book, "Laws of Money & Wealth:"https://realinvestmentadvice.com/ria-e-guide-library/ -------- SUBSCRIBE to The Real Investment Show here: http://www.youtube.com/c/TheRealInvestmentShow -------- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to SimpleVisor: https://www.simplevisor.com/register-new -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #EstatePlanning #LivingTrust #WillAndTrust #RetirementPlanning #WealthManagement