Episode 8 - Estate Planning Realities and Roth Conversion Strategies with Mike Piper

In this advice focused episode of the Advice-Only podcast, host Sarah Sprague Gerber sits down with Mike Piper whose accolades include prolific author, owner of the popular Oblivious Investor blog, founder of his own Advice-Only practice, and creator of the Open Social Security calculator. Mike brings his unique perspective as someone who has had the rare opportunity to spend extensive time deeply researching financial planning topics.Mike specializes in working with clients approaching and in retirement (median client age 65), making him perfectly positioned to discuss two critical topics for this life stage. His approach balances deep technical expertise with genuine empathy, particularly when discussing the challenges facing grieving families.Key Topics Covered:Estate Planning Realities - Common mistakes from outdated beneficiary designations to unfunded trusts, including a shocking real case where a godchild received a six-figure inheritance instead of the intended $5,000, plus compassionate guidance for survivors facing enormous administrative tasks during griefAfter a Death Occurs - Practical first steps for getting organized, taking detailed notes, and knowing which tasks are truly time-sensitive versus those that can wait for better days, along with why "brain fog" during grief is completely normalRoth Conversion Strategy - What conversions are, why that temporary income dip between retirement and Social Security/RMDs creates opportunities, and how the size of your tax-deferred accounts and beneficiaries matter more than you might thinkExecution Details: Target tax bracket thresholds rather than IRMAA limits, use taxable account dollars to pay conversion taxes, and why the "widow's penalty" is real but not scaryMike's story offers invaluable guidance for both advisors helping clients navigate these complex decisions and anyone approaching retirement themselves. Listen for his reminder to be gentle with yourself during difficult times provides both practical and emotional wisdom."These things are important and you will get them done. But be forgiving with yourself."