In this episode, Alyssa McNamara Reed, CFP® , and attorney Ben Cody of Cody Law Group, discussing essential estate planning concepts. They define estate planning broadly, covering decisions about money, investments, insurance, mortgages, taxes, estate planning, living within one's means, and retirement. The conversation primarily focuses on the distinctions between wills and trusts, the probate process, and their implications for individuals and families. Key topics explored include guardianship for minor children, strategies for estate tax mitigation, and using trusts for asset protection in the context of long-term care, emphasizing the importance of informed decision-making in financial and legal matters.
Alyssa McNamara Reed, CFP® is a financial planner with passion for the intersection of taxes and investing. Alyssa works with motivated savers, beneficiaries of estates, business owners, divorcees, and pre-retirees.
McNamara Financial is an Independent, family-owned, fee-only investment management and financial planning firm, serving individuals and families on the South Shore and beyond for over 30 years.
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http://mcnamarafinancial.com/
