What REALLY Happens When Estate Plans Go Wrong? | Wealth Is a Choice Podcast
In the premiere episode of Wealth Is a Choice, Joe Garavaglia (estate planning attorney) and host James Studinger (financial advisor) take you behind the scenes of “estate planning gone right… and gone wrong.” From sibling squabbles and surprise lawsuits to shocking stories of trustees gone rogue, this candid conversation unveils the real-life pitfalls—and smart fixes—you must know about.
Key Topics We Cover:
Family feuds and emotional upheaval after a loved one passes
Why copious notes, clear communication, and diligent record-keeping are a trustee’s best defense
The surprising risks of DIY deeds, putting just one child on the title, or using blanket “kitchen sink” trusts
When should you actually consider an irrevocable trust or asset protection trust? (Hint: Not as often as those $10,000 seminar plans suggest!)
How the “step up in basis” and Ladybird deeds work—and why simple beneficiary designations sometimes aren’t enough
Protecting your legacy with the right documents: powers of attorney, healthcare directives, pour-over wills, and revocable trusts
Stories of trust abuse, ill-advised corporate trustees, and how to avoid huge legal headaches
Whether you’re a parent, business owner, or beneficiary, this episode is packed with hard-won lessons, practical checklists, and real-world examples to empower you in your wealth journey.
