• The Risks of Bad Advice

  • 2025/02/18
  • 再生時間: 15 分
  • ポッドキャスト

The Risks of Bad Advice

  • サマリー

  • In this episode of Trust Us, Danielle Friedman, Herb Fineburg, and Max McCauley tackle the pitfalls of common estate planning advice, highlighting the risks of adding children to bank accounts or deeds purely for convenience. They discuss the adverse tax implications, potential family conflicts, and legal issues that can arise from such actions. The hosts emphasize the importance of consulting with informed professionals and suggest alternative methods, such as living trusts, beneficiary designations, and powers of attorney, to achieve estate planning goals without unintended consequences.

    • (00:00) - Introduction and Overview
    • (00:56) - Risks of Adding a Child to a Checking Account
    • (02:12) - Tax Implications of Joint Accounts
    • (03:14) - Inheritance and Gift Tax Consequences
    • (04:32) - Family Strife and Legal Issues
    • (05:18) - Adding a Child to Property Deeds
    • (07:49) - Better Alternatives for Estate Planning
    • (11:01) - Conclusion and Final Thoughts

    If you are interested in learning more or have any questions, please feel free to contact Danielle at danielle.friedman@offitkurman.com, Herb at hfineburg@offitkurman.com, and Max at cmccauley@offitkurman.com.

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あらすじ・解説

In this episode of Trust Us, Danielle Friedman, Herb Fineburg, and Max McCauley tackle the pitfalls of common estate planning advice, highlighting the risks of adding children to bank accounts or deeds purely for convenience. They discuss the adverse tax implications, potential family conflicts, and legal issues that can arise from such actions. The hosts emphasize the importance of consulting with informed professionals and suggest alternative methods, such as living trusts, beneficiary designations, and powers of attorney, to achieve estate planning goals without unintended consequences.

  • (00:00) - Introduction and Overview
  • (00:56) - Risks of Adding a Child to a Checking Account
  • (02:12) - Tax Implications of Joint Accounts
  • (03:14) - Inheritance and Gift Tax Consequences
  • (04:32) - Family Strife and Legal Issues
  • (05:18) - Adding a Child to Property Deeds
  • (07:49) - Better Alternatives for Estate Planning
  • (11:01) - Conclusion and Final Thoughts

If you are interested in learning more or have any questions, please feel free to contact Danielle at danielle.friedman@offitkurman.com, Herb at hfineburg@offitkurman.com, and Max at cmccauley@offitkurman.com.

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