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 See more +
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. See less -
