The Practical Planner

If you’re a business owner, does it really make sense to put it in a Revocable Trust? That’s what hosts Anne Rhodes, Chief Legal Officer at wealth.com, and Thomas Koppelmen, Head of Community at wealth.com and co-founder of AllStreetWealth discuss in this week’s episode. In this episode, they cover: - Why a trust may offer more flexibility in separating out personal and business assets but also offers better protection if you’re incapacitated. - How a trust can be a better vehicle for your wishes to be followed after your passing. - Why setting up a revocable trust today offers you flexibility should you need to make changes as your business grows.

Helping new clients with their estate plan can be an early win. It’s not uncommon for new clients to not even have an estate plan in place. If they do, there may be opportunities for updating and optimizing. In this episode host Anne Rhodes, Chief Legal Officer at wealth.com, asks her co-host Thomas Koppelman, Co-founder of AllStreetWealth and wealth.com’s Head of Community, how he approaches new clients and where financial planning intersects with estate planning, including: Finding simple opportunities like just creating a will or updating old plans to include new children. Understand the “why” of what they did previously to see if there’s new, better ways to achieve their goals. How to dig deeper for more robust estate planning optimizations and opportunities.

Deciding to fund an individual or a joint trust may seem like a straightforward decision. But there are a number of factors that can impact which one to choose. Hosts Anne Rhodes, Chief Legal Officer at wealth.com and Thomas Koppelman, Head of Community at wealth.com and Lead Financial Advisor at AllStreet Wealth, get into the major differences between the two types of trusts, how people should approach choosing the right type of trust, and some misconceptions, including: How living in or moving to a community property state could impact a decision How joint trusts may negatively impact tax planning Why a joint trust doesn’t always have to be between spouses

A new year means financial advisors are taking a fresh look at their clients’ financial plans, so it’s important to know IRS’s adjusted numbers for 2024. In this episode hosts Thomas Kopelman (Named a Top 100 financial advisor by Investopedia) and Anne Rhodes (Chief Legal Officer at Wealth.com) discuss: The updated IRS numbers all advisors need to know. Annual family gifting details and opportunities you may not be aware of. Other estate planning strategies, such as why grandparents contributing to a 529 plan are excluded from FAFSA applications. Get the full 2024 IRS inflation Adjusted Numbers Reference Guide for Estate Planning here.

In this episode of The Practical Planner hosts Anne Rhodes & Thomas Kopelman discuss what advisors need to know about revocable trusts, including: What revocable trusts are & how they function. Common reasons why clients benefit from having revocable trusts, such as real estate ownership privacy. The differences between trust restatements and amendments. Common misconceptions about revocable trusts. + More Find other episodes of The Practical Planner at wealth.com/podcast

A fully optimized Estate Plan changes in tandem with life circumstances changing. In this episode of The Practical Planner hosts Anne Rhodes & Thomas Kopelman dive into: The life events that should prompt Estate Plan updates. Why those specific events impact Estate Plan functionality. Contextual examples regarding these life events that will help advisors better understand the necessity of ongoing Estate Plan updates. How establishing a regular cadence for Estate Plan reviews can fit into the flow of a client’s overall planning. Find other episodes of The Practical Planner at wealth.com/podcast

There are a lot of confusing Estate Planning terms, and many of the available resources for understanding this nomenclature aren’t straightforward for financial advisors. In this episode of The Practical Planner hosts Anne Rhodes & Thomas Kopelman walk through a list of the main common terms financial advisors should know when it comes to Estate Planning and provide contextual examples of how those terms apply to client situations. Find other episodes of The Practical Planner at wealth.com/podcast

Practical Planner Hosts Anne Rhodes & Thomas Kopelman are joined by Tyrone Ross Jr. — CEO and co-founder of Turnqey Labs and 401 Financial, Strategic Advisor to wealth.com. — to discuss the unique landscape of Estate Planning for cryptocurrency and digital assets. In this episode: Tyrone breaks down why Estate Planning in crypto is a massive opportunity for advisors to add value. A practical overview of how crypto & digital assets function uniquely as an asset within estate plans. Scenarios and examples of why estate planning for unique digital assets is so valuable. Insightful discussion of client and advisor behaviors regarding crypto and how estate planning can be a helpful context for client discussions. + More Find other episodes of the Practical Planner at wealth.com/podcast

In this episode of The Practical Planner, hosts Anne Rhodes & Thomas Kopelman dive deeper into the world of trusts, giving nuanced definitions of what differentiates a revocable trust from an irrevocable trust and providing advisors with the knowledge they need to discuss the functionality and benefits with their clients.

What is the difference between a trust and a will? This is one of the top questions in estate planning, but finding a clear answer isn’t always easy. In this episode of The Practical Planner, Anne & Thomas dispel common misconceptions through straightforward discussion of the differences between wills and trusts, both definitionally and in practice — providing advisors with an actionable basis for estate planning conversations with their clients.

There are several key estate planning documents every financial advisor should understand and be able to discuss with their clients. This can be daunting because documents are often referred to by different names and there are specific nuances associated with each document that affect how they work. In this episode of The Practical Planner, Anne & Thomas break down the functionality and benefit of foundational documents in estate planning — giving advisors the knowledge they need to confidently approach estate planning with their clients.

In the premiere episode of The Practical Planner, hosts Anne & Thomas break down the foundational estate planning knowledge advisors need in an actionable way with real-life examples.

The Practical Planner is a new show from wealth.com where Anne Rhodes, expert estate planning attorney and our Chief Legal Officer + Thomas Kopelman, a top financial advisor and Co-Founder of AllStreet Wealth break down everything advisors need to know about estate planning. In this quick intro episode Thomas and Anne talk about why they’re excited for the show to launch and what listeners can expect from future episodes.