Tag: Estate Planning
Estate Planning Essentials (Ep. 64)

Estate Planning Essentials (Ep. 64)

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You can protect your loved ones and legacy as you transition into retirement by estate planning.

Today on Relax, It’s Retirement, host Josh Leonard, and Pete Belcastro dive into the often overlooked but crucial aspect of retirement planning: estate planning. They talk about how to effectively prepare your essential estate documents, avoid the drawbacks of probate, leverage trusts for tax planning, and ensure your loved ones are protected. Tune in for some practical tips and advice around estate planning that can give you peace of mind as you plan for your golden years.

Josh and Pete discuss: 

  • Why regularly updating your will and legal documents is important
  • The role of Power of Attorney in managing assets during incapacitation
  • How to use trusts to protect assets and control distributions
  • How you can minimize the impact of estate taxes
  • And more

Resources:

Connect with Josh Leonard: 

Connect with Pete Belcastro: 

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Mastering Financial Literacy in Your Golden Years: Part 2 (Ep. 50)

Mastering Financial Literacy in Your Golden Years: Part 2 (Ep. 50)

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Transitioning into retirement could feel just as sunny and relaxed as a perfect summer day, but like spending a day in the sun, you’ve got to plan for all weather factors when it comes to retirement or risk feeling a little burned.

Today on Relax, It’s Retirement, Josh Leonard and Pete Belcastro delve into part two of financial literacy for your golden years with a focus on government benefits and tax planning. In addition to managing required minimum distributions and the timing of Social Security benefits, the conversation also navigates through estate planning and the considerations for relocating or downsizing in retirement. Listen in to empower yourself with the knowledge and strategies needed to embrace retirement with confidence and intention.

Josh and Pete discuss: 

  • Maneuvering the complexities of required minimum distributions (RMDs) and their impact on your taxes
  • Strategic insights into optimizing Social Security benefits based on individual working and earning scenarios.
  • The importance of updating beneficiaries and how simple changes can drastically influence estate planning
  • Navigating the decisions surrounding relocation or downsizing in retirement, including tax implications and quality of life considerations
  • And more

Resources:

Connect with Josh Leonard: 

Connect with Pete Belcastro: 

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Is Your End-of-Year Financial Checklist Ready? (Ep. 29)

Is Your End-of-Year Financial Checklist Ready? (Ep. 29)

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The end of the year is the perfect time to take stock of your personal finances and make any adjustments that need to be made. 

From catching up on retirement contributions to making charitable donations, you have a bit of time left to get everything in order before 2024. 

In this episode, Josh Leonard explores end-of-year financial planning. He dives into assessing asset and debt issues, understanding tax implications, maximizing contributions to tax-advantaged accounts, and more. Josh also explains the benefits of gifting money to avoid estate taxes and the importance of financial aid planning for children or grandchildren attending college.

Josh discusses: 

  • The need to look at taxable investment accounts and making end-of-year moves
  • The importance of taking required minimum distributions (RMDs) for individuals turning 73 this year
  • Tax planning strategies
  • The importance of maximizing contributions to accounts like HSAs and 401(k)s by the end of the year
  • The need to review insurance plans during open enrollment and update estate documents in light of any family changes or additions
  • The importance of considering financial aid planning strategies for college-bound kids
  • And more!

Resources:

Connect with Josh Leonard: 

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Overcoming Challenges and Achieving Goals (Ep. 20)

Overcoming Challenges and Achieving Goals (Ep. 20)

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We’ve got our very own IRONMAN 70.3 Steelhead accomplisher in the studio! 

In this episode, Josh Leonard shares his experience completing a half ironman race. Despite facing thunderstorms and a delayed start, Josh was able to swim comfortably and exceed his expectations on the bike leg. He emphasizes the importance of focusing on what you’re good at and enjoy, both in the race and in retirement. Despite setbacks, including a shelter-in-place order, Josh remained determined to complete the race.

Josh discusses: 

  • The key takeaways from his training
  • Reflections on the value of accepting unexpected challenges
  • The importance of the loving support he received from his wife and the community around him
  • The importance of setting goals and staying motivated
  • How this relates to achieving the goals that you set for yourself in retirement
  • And more

Resources:

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Leaving a Legacy Through Audio Memoirs with Daniel Powell (Ep. 6)

Leaving a Legacy Through Audio Memoirs with Daniel Powell (Ep. 6)

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Do you ever wonder about how people will think of you or remember you once you have passed away? Is it important for you to leave behind a story or personal anecdote that you feel defines your life? 

In this episode, Daniel Powell from Liminal Legacy Media is here to talk about legacy planning and the different ways you can create this legacy that can be shared for years to come. From creating an audio memoir to offering your family the expertise that you have perfected in your lifetime, it is time to start thinking about what you might want to leave behind for your family to remember you by. 

Daniel discusses: 

  • What an audio memoir entails and the value of capturing one as part of your total legacy plan
  • What a legacy plan looks like beyond just finances 
  • The ideal age to start recording audio memoirs
  • How you can leave a positive mark on your family through the years of experience you have to offer 
  • And more

Resources:

Connect with Daniel Powell:

Connect with Josh Leonard: 

About our Guest: 

Daniel Powell is an audio producer and storyteller based in Fort Collins, Colorado. He’s the founder and owner of Liminal Legacy Media, a business that partners with individuals entering their golden years. He works with his clients to capture their life stories, share their legacy with loved ones, and of course, preserve those tales for the life of generations to come.

What he does with a client is he works to create an immersive audio memoir focused on their life experience. The audio memoir is a documentary centered on their life experiences. These productions don’t just explain your story to loved ones, but it helps immerse them in your experience and gives you a unique firsthand insight into their lives.

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