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.

In this episode of Trust Us, Danielle Friedman, Herb Fineburg, and Max McCauley discuss the significant changes anticipated with the sunset of the Federal Estate Tax Exemption. They explain what the exemption is, how it impacts estates, and the strategic planning necessary to navigate potential changes post-2025. Topics include essential planning techniques, potential legislative changes, and advice on how to prepare for the uncertainties.

• Introduction to Federal Estate Tax Exemption (0:46)
• Current vs. Future Exemption Amounts (1:28)
• Hypothetical Example of Taxable Estate (2:47)
• Impact of Future Legislative Changes (3:53)
• Strategic Planning Techniques (5:23)
• Advantages of Early Planning (10:37)
• Conclusion and Recommendations (13:17)

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.

In this episode of the Trust Us podcast, hosts Danielle Friedman, Herb Fineburg, and Charles "Max" McCauley III dive into the complex world of intestacy—the laws that govern the distribution of assets when someone passes away without a will.

From common misconceptions about how assets pass to surviving spouses and children, to the unexpected complications of business succession and guardianship of minors, this episode unpacks the consequences of intestacy. Learn why not having a will can lead to costly legal battles, family disputes, and unintended tax burdens.

Whether you're married, have children, own a business, or simply want peace of mind about your legacy, this episode will make you rethink your estate planning—and why it’s never too early to start.

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.