Estate Planning

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From the ask the planman podcast...

EP 020: Special Needs Trusts & What Makes Them So Special ft. Russell Fishkind
26 percent (one in 4) of adults in the United States have some type of disability – who takes care of them as children and then into adulthood. How can you coordinate the care and finances of a special needs person, young or old? We are speaking with Russell Fishkind, Estate Planning Attorney and founder of Hope Trust ( as he shares a problem he faced with his own child and how he created a solution for everyone.

From our blog...

When is Permanent Insurance Really Necessary?

For millions of Americans, the choice between term and permanent insurance can be a confusing one. A number of variables factor in to whether one is more appropriate than the other for most consumers, such as debt level, health and longevity, and the size of one’s estate. There are a number of arguments on both sides stating why one is better than the other, but in virtually all cases, there are a couple of situations where permanent insurance is usually the best choice.

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Crafting Your Legacy with Estate Planning

Nobody wants to talk about death. We hear it all the time in our line of work. 

“I have no use for a will. My children can sort it out.”

“Why should it bother me? I’ll be gone.”

“Estate planning? I’m not wealthy, why would I bother?”

It should come as no surprise that a vast majority of individuals over the age of 30 do not possess a will, and even fewer have a comprehensive estate plan at their disposal.

The reality is that we tirelessly strive and do everything within our capacity while alive to provide for our family. Yet, when it comes to safeguarding and conserving the fruits of that labor in the event that we unexpectedly die, the conversation suddenly becomes uncomfortable.

Indeed, the notion of mortality is far from pleasant. However, taking the initiative to construct an estate plan is crucial to our own welfare as well as our families’. A well-devised plan can offer peace of mind that not only assists those who will continue in your absence but can also serve you. In fact, it’s been suggested that individuals who have an estate plan tend to have longer lifespans on average.

But there’s more to estate planning than just crafting a will—proper estate planning is all about strategic asset allocation, defining your family’s future, and molding a legacy that reflects your values. This doesn’t have to be as daunting or challenging as it sounds. Let us ensure your estate planning journey is as smooth, personalized, and effective as possible. Read on to explore the world of estate planning and discover how we can help you secure your family’s future and leave a lasting legacy. Let’s embark on this vital journey together.

Understanding Estate Planning

Estate planning is the strategic organization of your assets and wishes in the event of your death or incapacity. The primary elements involved in this process include:


This is a legal document in which you articulate your directives regarding the distribution of your assets, guardianship for minor children, and the appointment of an executor who will manage the estate until its final distribution. Without a will, the state decides how your assets will be divided, potentially causing conflicts among your heirs.


Trusts are legal arrangements that hold assets for the benefit of specific individuals or entities. Trusts offer a variety of advantages, such as bypassing probate (the court process of validating a will), providing for minor children or disabled family members, and maintaining your privacy.

Power of Attorney

This legal document allows you to appoint someone to handle your financial affairs if you become unable to do so. This includes making decisions about your property and financial assets. Without a power of attorney, if you become incapacitated, the court may need to appoint a guardian or conservator, which can be a long and often costly process.

Advanced Healthcare Directive

Also known as a living will, it outlines your wishes for medical treatment if you become unable to express them yourself. This could include decisions on life-sustaining measures, end-of-life care, and organ donation.

The Importance of Estate planning

The value of estate planning cannot be understated. It’s not merely a task for the wealthy; it’s a crucial activity for everyone, irrespective of the size of their estate. Estate planning serves various purposes, including reducing potential family disputes, ensuring a smooth transition of assets, and providing peace of mind.

Without proper estate planning, many things could go awry. Your assets might end up in undesired hands, disputes may arise among your heirs, or your estate could be eroded by taxes and probate costs. Even your minor children’s guardianship might be decided by the courts instead of by you.

With an effective estate plan in place, you’ll avoid these issues and ensure your assets are distributed according to your wishes. It provides the comfort of knowing that your family’s future is secure and that your legacy will continue as you intended.


The estate planning process when you turn to Weinstein Wealth Insurance Solutions is fairly straightforward alt at Weinstein Wealth Insurance Solutions and involves the following steps:

Inventory Your Assets: We start by identifying all your assets, including real estate, investments, retirement savings, business interests, and valuable personal items. It gives you a clear picture of what comprises your estate.

Define Your Goals: After understanding your assets, we assist you in defining your estate planning goals. Whether it’s providing for your family, leaving a legacy to a charity, or ensuring a smooth business transition, we help you shape these objectives.

Design Your Plan: Drawing on our wealth of experience and expertise, we’ll help you create an estate plan that is tailored to your specific needs. We consider factors like potential tax implications, legal issues, and your long-term family and financial goals.

Implement and Review: Once we’ve designed your plan, we assist with its implementation. We also recommend regular reviews to ensure your plan remains relevant and adapts to changes in your life circumstances, laws, or financial situation.

Frequently asked questions about estate planning

Absolutely. Regardless of your financial status, an estate plan ensures your wishes regarding your assets, your health care, and your dependents are carried out. It helps pass property to intended beneficiaries, alleviate the burden for family, protect assets, and decide caretaking of children. Estate planning isn’t about only avoiding the estate tax.

While it is technically possible, estate planning involves complex financial, legal, and tax issues, which require professional guidance.

A will is a legal document that becomes effective after your death, whereas a trust can start to operate immediately, at your death, or thereafter.

A power of attorney allows you to appoint someone to manage your finances and legal affairs if you’re incapacitated.

This legal document specifies your preferences for medical treatments if you become unable to make decisions for yourself.

You should review your estate plan every few years or after any significant life event, like a marriage, divorce, birth of a child, or a substantial change in your financial status.

While a will itself does not reduce estate taxes, it can be structured, often in combination with trusts, to minimize or eliminate estate taxes.

If you die without a will, your estate will be distributed according to your state’s intestacy laws, which may not align with your wishes.

Yes, an estate plan is not a one-time event. It should evolve as your life circumstances and laws change.

Your estate plan should include all your assets such as properties, investments, retirement savings, insurance policies, and personal possessions of value.

Property transfer at death occurs via a valid will, beneficiary designations, operation of law, or state law if no will is present.

Ready to take control of your financial destiny?

Isn’t it time you put your mind at ease about the future? Let Weinstein Insurance and Wealth Solutions be your  dedicated partners in securing your family’s legacy. Let’s shape your future together with a personalized estate plan. Start your journey towards peace of mind today. Talk to us – because your legacy matters.