Preparing For The Death Of A Loved One - Part 1
Asset Protection Today with Bill Alexander
Release Date: 02/12/2019
Do You Really Need a Trust? Six Essential Documents and When to Go Further
Asset Protection Today with Bill Alexander
Not everyone needs a trust, but everyone needs the basics. In this episode of Asset Protection Today, elder law attorney Bill Alexander walks through the six essential estate planning documents, explains when a trust-based plan makes sense, and answers some of the most common questions he hears from families. Bill covers what happens if you die without a will (and why in North Carolina only a spouse is automatically entitled to part of your estate), why an enhanced general durable power of attorney is the most important lifetime document for asset protection and long-term care planning, and...
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Who Should Be Your Power of Attorney? The Real Risks of Long-Term Care
Asset Protection Today with Bill Alexander
80% of financial abuse against seniors comes from their own family members, so who you name as your agent may be the most important estate planning decision you make. In this episode of Asset Protection Today, elder law attorney Bill Alexander explains how to choose the right power of attorney and healthcare agent, and why the oldest child or the one who lives closest isn’t automatically the right choice. Bill covers the warning signs to watch for in family members, when a corporate trustee or CPA is a better fit, and why many seniors need an “enhanced” power of attorney instead of a...
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Dynasty Trusts & Multi-State Probate: Why North Carolina Is Special
Asset Protection Today with Bill Alexander
If you create a trust in North Carolina and later move to another state, whose laws apply? In this episode of Asset Protection Today, elder law attorney Bill Alexander answers that question and explains when a trust is worth having. Bill describes himself as a trust planner and explains who benefits most from one: families with tax planning needs, complicated family situations, high-wealth estates, and anyone who owns real estate outside North Carolina. Without a trust, each state requires its own probate, so you could face three or four probates instead of one. He also explains why LLCs and...
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Estate Planning Is Life Planning: Avoiding Medicaid Traps in North Carolina
Asset Protection Today with Bill Alexander
Estate planning isn't just about what happens after you die. In this episode of Asset Protection Today, elder law attorney Bill Alexander explains why it's really "life planning," and how the right documents can keep you independent and in control as you age. Bill explains why an enhanced general durable power of attorney is critical for seniors (as long as you have someone truly reliable to name) and why most seniors don't have the right one. He also walks through common Medicaid pitfalls that catch families off guard: gifts to children and grandchildren, regular cash withdrawals that DSS...
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Taxes, Social Security & the Hidden Threats to Your Legacy
Asset Protection Today with Bill Alexander
The IRS is the biggest creditor you'll ever have and most people aren't planning for it. In this episode of Asset Protection Today, elder law attorney Bill Alexander explains why true asset protection goes far beyond legal documents: it means protecting yourself from family financial abuse, planning for the real cost of long-term care, and preparing for a tax and Social Security landscape that's about to shift dramatically. Bill shares a sobering statistic: 80% of senior financial abuse comes from family members and explains why choosing the right agent under power of attorney matters more...
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No Prenup, Second Marriage: How One Family Protected Its Inheritance
Asset Protection Today with Bill Alexander
Can your spouse claim half of your inheritance, even if you want it to go to your own children? In this episode of Asset Protection Today, elder law attorney Bill Alexander shares a real client case that shows why prenuptial and postnuptial agreements matter so much in second marriages and blended families. A couple married for 30 years never signed a prenup. Now the husband is showing early signs of dementia, and the wife's inherited family land and recent inheritance could be exposed to a spousal "elective share" claim, potentially ending up with stepchildren instead of her own kids. Bill...
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The Truth About Annuities Your Financial Advisor Won't Tell You
Asset Protection Today with Bill Alexander
Thinking about buying an annuity for retirement security? Elder law attorney Bill Alexander explains why he generally steers clients away from them and what most financial advisors won't tell you before you sign. In this episode of Asset Protection Today, Bill breaks down why annuities are frequently oversold, why the "guaranteed income" pitch often falls apart when long-term care costs enter the picture, and why the money can become locked up with steep penalties to access it. He explains how annuities are treated as fully countable assets for Medicaid purposes (unlike some other planning...
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Why Your Attorney Shouldn't Push a Medicaid Trust (Do This Instead)
Asset Protection Today with Bill Alexander
Not every family needs a Medicaid Asset Protection Trust and using one at the wrong time can backfire badly. In this episode of Asset Protection Today, elder law attorney Bill Alexander breaks down how Medicaid trusts actually work, why the 5-year look-back period trips up so many families, and the lesser-known deed strategies that can protect a home without triggering it at all. Bill explains the critical beneficiary rule that catches many families off guard, walks through a real case where a $15,000 home (now worth $800,000) illustrates why losing the "step-up in basis" can cost heirs a...
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When the Executor Steals: Fiduciary Self-Dealing Exposed
Asset Protection Today with Bill Alexander
80% of seniors who are financially exploited are victimized by family members, not strangers. In this episode of Asset Protection Today, elder law attorney Bill Alexander breaks down "self-dealing": what happens when an executor, personal representative, or trustee abuses their position of trust for personal gain, and how it can devastate a family's inheritance. Bill explains the difference between an executor, administrator, and trustee, and the legal duties every fiduciary owes to an estate's beneficiaries and creditors, including the strict order in which debts must be paid. He walks...
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Gray Divorce, Prenups & the Retirement Crisis Nobody's Ready For
Asset Protection Today with Bill Alexander
Half of Americans have no retirement savings at all and "gray divorce" now accounts for 40% of all divorces. In this episode of Asset Protection Today, elder law attorney Bill Alexander covers two major financial threats hiding in plain sight: the retirement savings crisis facing Gen X and younger generations, and the surprising legal traps couples fall into around prenups, inheritance, and divorce. Bill breaks down why 4 in 10 Gen Xers have zero retirement savings, why the median Gen X nest egg ($100,000) falls far short of the $600,000–$900,000 economists say is needed to retire...
info_outlineIn the first episode of a two-part series, Bill discusses what it was like to lose his brother, who dealt with a long life of health struggles. He offers tips to help those who may be going through a similar experience, and provides insight on what to expect during the process of losing a loved one.