Shows
The Elder Law CoachEpi 54: Breaking Silos: How Attorneys and Financial Advisors Can Transform Client ExperienceSend us a textTodd Whatley reveals the transformative power of attorneys and financial advisors working side-by-side to provide comprehensive elder law services that truly meet clients' needs. Drawing from 25 years of experience and recent success implementing this collaborative approach, Todd explains how breaking down professional silos creates superior outcomes and increases profitability.• The current system forces clients to shuttle between separate attorneys and financial advisors who rarely communicate• Important planning details get lost and recommendations conflict when professionals work in isolation• Mutual distrust between attorneys and advisors often prevents collaboration that would benefi...2025-05-0718 minThe Elder Law CoachEpi 52: Predatory Marriages: The Silent Threat to Elder Estate PlansSend us a textPredatory marriages target vulnerable seniors for financial gain, creating devastating consequences that override estate plans and disinherit children. Todd Whatley explores this emotionally charged, legally complex issue affecting an increasing number of families as our population ages.• Predatory marriage defined: when someone intentionally targets a vulnerable senior for financial gain through marriage• Common scenarios include caregivers or younger partners marrying seniors with cognitive decline• Marriage automatically triggers inheritance rights that override existing wills and trusts• Red flags include significant age gaps, recent mental capacity changes, social isolation• Joint bank...2025-05-0418 minThe Elder Law CoachEpi 51: When To Use (And When NOT To Use) Irrevocable Trusts For Your ClientsSend us a textTodd Whatley tackles the complex topic of irrevocable trusts in elder law practice, focusing primarily on Medicaid Asset Protection Trusts and when they're appropriate for clients. He draws on personal experience to provide practical guidance on implementing these powerful legal tools correctly.• Irrevocable trusts require relinquishing control and ownership of assets, making them subject to Medicaid's five-year lookback period• Many attorneys incorrectly structure these trusts by making the grantor a trustee or beneficiary, which can invalidate the protection in some states • Medicaid Asset Protection Trusts are generally best for higher...2025-03-2630 minThe Elder Law CoachEpi 50: Navigating Dementia: Legal Rights and Client CapacitySend us a textElder law attorneys regularly encounter clients with dementia, yet many misunderstand that a diagnosis doesn't automatically prevent someone from signing legal documents. Todd Whatley explains when and how individuals with dementia can execute valid legal documents and avoid unnecessary guardianships.• Understanding dementia as a progressive condition affecting memory and reasoning differently across stages• Document capacity depends on document risk – higher risk requires greater capacity• Pushing clients to guardianship unnecessarily removes rights and limits planning options• Essential documents include comprehensive powers of attorney, healthcare directives, and probate-avoidance planning• Communicatio...2025-03-2424 minThe Elder Law CoachEpi 49: The Trustee Dilemma: Family vs Commercial FiduciariesSend us a textTodd Whatley continues his trust-focused discussion by exploring the critical yet often overlooked process of trustee selection. He examines why this decision deserves more attention than the typical "oldest child" default approach, emphasizing that being a trustee is a demanding job requiring specific qualifications.• Trustee responsibilities include managing assets, ensuring compliance with trust terms, distributing assets fairly, and handling administrative tasks• Commercial trustees provide expertise and impartiality, often worth their fee to prevent family conflicts• Key qualities in an effective trustee include financial acumen, organizational skills, integrity, and communication abilit...2025-03-2421 min
The Generations Legal Group PodcastBeyond the Firstborn: Rethinking Traditional Trustee Selection LogicTodd Whatley deepens his exploration of trust issues with an essential, often overlooked aspect of trust creation: trustee selection. He explains why choosing the right trustee is crucial and provides practical guidance on qualities to look for, common mistakes to avoid, and when to consider professional trustees.• Trustees have significant responsibilities including asset management, compliance with trust terms, fair distribution, and handling administrative tasks• Good trustees need financial acumen, organizational skills, integrity, trustworthiness, and strong communication abilities• Commercial trustees are often worth considering as they're trained, licensed, bonded, and can handle the full-time job requirements•...2025-03-1821 minThe Generations Legal Group PodcastTrust Management Made Simple: Avoiding Common MistakesAttorney Todd Whatley addresses the critical components of trust management and highlights common trust mistakes that attorneys should help clients avoid. He provides insight into how elder law attorneys can differentiate themselves from DIY solutions and financial advisors attempting to provide estate planning.• DIY estate planning services and financial advisors are aggressively targeting clients, claiming lawyers aren't necessary• Trust documents need specialized language to handle incapacity periods before death, not just asset transfers after death• Testamentary trusts provide significant protection from bankruptcy, divorce, and lawsuits for beneficiaries• The biggest mistake in trust planning is failure...2025-03-1726 minThe Generations Legal Group PodcastWhy Powers of Attorney Are Non-Negotiable for Your FutureUnderstanding the significance of Powers of Attorney (POA) is crucial for anyone planning for the future. Legal expert Todd Whatley leads our discussion on why establishing a POA is a must-have for every adult, emphasizing the role it plays in protecting your interests and easing family burdens during times of uncertainty and incapacity.• Definition of Power of Attorney and its importance • Types: Financial and healthcare POA explanations • Consequences of inaction: guardianship risks highlighted • Common misconceptions about POAs debunked • Selecting the right agent: trust and duties explained • Recommendations for developing a comprehensive POA • Call to acti...2025-02-2518 minThe Generations Legal Group PodcastUltimate Family Organization: A visit with Trustworthy CEO Nathanial RobinsonUnlock the secrets of seamless family organization and heightened preparedness with our special guest, Nat Robinson, the visionary behind Trustworthy. This episode casts a spotlight on how Trustworthy is transforming the way families store and share vital documents, moving far beyond the outdated confines of folders and spreadsheets. Together with our expert Patty Whatley, we journey through Nat's personal motivations that led to the birth of this innovative platform, offering families a peace of mind with a secure, collaborative system for managing essential information. From the intricacies of Medicaid applications to the everyday need for accessible personal records, discover...2025-02-0127 minThe Elder Law CoachEp. 46 Preserving Your Digital Legacy: Navigating Digital Assets in Modern Estate Planning with Todd WhatleySend us a textDigital assets are becoming an essential component of estate planning, yet many clients do not realize their significance. This episode discusses practical steps and legal considerations for addressing digital assets in elder law.• Importance of planning for digital assets • Conducting a digital asset inventory • Challenges of accessing digital assets posthumously • Creating a digital asset access plan • Overview of RUFADA and its implications • Social media legacy contacts and manager settings • Encouraging client education around digital asset managementArticle to review: https://trustandwill.com/learn/what-is-rufadaa?srsl...2025-01-1820 min
Wealth For GenerationsMastering the Market: Balancing Risk and Security for Lasting Wealth and EmpowermentWhat happens when the stock market feels like a thrilling rollercoaster ride, and you're not sure when to get off? Join us as we explore the exhilarating world of investing with Todd Whatley, a certified elder law attorney, and Ian Weiner, a certified financial planner. Learn the art of navigating the current market, highlighted by Walmart's stellar performance amidst a prolonged bull run. You'll gain insights into the often-overlooked behavioral traps investors face, find out why blindly following past market successes can be risky, and discover the importance of a diversified, balanced investment strategy that withstands the test of...2025-01-1423 minThe Generations Legal Group PodcastUnlocking the Secrets of Medicaid Planning and Asset Protection with Todd WhatleyTodd Whatley, Certified Elder Law Attorney with Generations Legal Group explains how Medicaid really is an option for almost everyone seeking to pay for long term care. This episode addresses the crucial topic of Medicaid planning and the misconceptions surrounding it. We discuss how proper planning can protect assets for long-term care, with a focus on understanding the rules of Medicaid to benefit families facing aging challenges.• Understanding Medicaid and its application for long-term care • Dispelling myths about wealth and Medicaid eligibility • The importance of early planning for future care needs • Strategies for married couples to p...2025-01-0534 minThe Elder Law CoachEp. 44 Mastering Probate Avoidance: Expert Strategies for Elder Law PracticesSend us a textThis podcast episode emphasizes the importance of probate avoidance and explores various strategies to ensure smoother transitions of assets upon death. Todd Whatley discusses ethical estate planning practices, focusing on revocable living trusts, beneficiary designations, and joint ownership as ways to bypass probate.• Understanding the pitfalls of defaulting to probate • The role of revocable living trusts in estate planning • Benefits of using beneficiary designations • Ethical considerations in presenting estate options • The risks associated with joint ownership • The necessity of trust funding and regular plan reviews • Strategies for keepi...2025-01-0520 minThe Elder Law CoachEp. 42 Insights from Todd on the 2025 Potential ShiftsSend us a textDiscover the intricate world of estate and gift tax exemptions with Todd Whatley, the Elder Law Coach. What could the re-election of President Trump mean for your financial future? As Todd guides us through the potential shifts in estate planning, he delves into the looming reduction of the estate tax exemption from $13.61 million per individual to a potentially game-changing $5 million by 2026. With Congress's role unclear, Todd sheds light on the strategies you might need to adopt and the political dynamics at play as this fiscal transformation unfolds.In this episode, Todd...2024-12-1629 minThe Generations Legal Group PodcastMastering Modern Estate Planning: Updates, Strategies, and Avoiding PitfallsIs your estate plan up to date with your current life changes? Join me, Todd Whatley, as we navigate the complexities of modern estate planning, ensuring your assets are securely aligned with your future goals. This episode is your opportunity to master the art of estate planning by understanding the necessity of revisiting and updating your documents amidst changes in your relationships, health, and financial circumstances. You'll gain insights into the potential pitfalls of an outdated plan and learn why having a professional review is crucial for avoiding unintended consequences. Our office's malpractice policy and trust amendment practices underscore...2024-12-1625 minThe Elder Law CoachEp. 41 Mastering OKRs: Revolutionize Goal-Setting in Your Elder Law PracticeSend us a textUnlock the secret to revolutionizing your elder law practice's goal-setting strategy with Todd Whatley as your guide. Traditional methods often leave us short of our targets, but what if your objectives were not only clear but quantifiable as well? Through the power of Objectives and Key Results (OKRs), Todd shares insights on how you can set short-term, qualitative objectives and pair them with measurable key results. Discover how to elevate client satisfaction and improve response times, all within a framework that promises transparency and encourages collaboration without resorting to financial incentives....2024-12-1428 minWealth For GenerationsTaxes, Tariffs Planning For Success In The Trump Era.Brace yourself for a groundbreaking discussion on the financial and political tremors following the seismic 2024 election: Donald Trump is back in the White House. We promise to navigate the tangled web of reactions—from the ecstatic to the anxious—and shed light on the real impact of tariffs and taxes under the new administration. Our goal is to offer you a clear path through the media noise and sensationalism, focusing on what truly matters for your financial well-being. With the seasoned insights of Todd Whatley, a certified elder law attorney, and Ian Weiner, a certified financial planner, we tackle the...2024-12-1027 minThe Elder Law CoachEp. 40 Turning Mistakes Into Mastery: The $6850 LetterSend us a textWhat happens when a small oversight turns into a $6,850 lesson? Join me, Todd Whatley, on a journey through the complexities of elder law, as I recount an unforgettable personal story that underscores the critical importance of communication and documentation in the Medicaid application process. This episode isn't just about a mistake; it's about embracing errors as stepping stones to improvement and growth. Learn how the Community Spouse Resource Allowance (CSRA) plays a vital role, and why removing an institutionalized spouse's name from assets exceeding $2,000 is a non-negotiable step in elder law practice. By...2024-12-1015 minWealth For GenerationsTwo Big Mistakes Many Times Seen in TrustsHow can you ensure your legacy is safeguarded for your children and future generations? Today on Wealth for Generations, Todd Whatley and Ian Weiner unpack two critical components of trusts and estate planning to help you protect your family's financial future. We kick off by diving into the intricacies of trust distribution terms, explaining why simply creating a trust isn’t enough. Todd reveals how specific provisions shield your beneficiaries from potential financial pitfalls such as bankruptcy, divorce, and lawsuits, ensuring their inheritances remain secure.In the next segment, we shed light on testamentary trusts and the of...2024-09-2728 minThe Elder Law CoachEp. 39. Spotting Trust Mistakes: Identifying Two Key Errors That Convert ClientsSend us a textDo you have trouble getting people to hire you to amend their trust done by another attorney? Are you creating trusts with terms that are not in your client's best interest? Unlock the secrets to effective trust management and protect your clients' interests with insights from Todd Whatley, a veteran in elder law. Discover why Todd advocates for creating new trusts over amending old ones and learn how this approach can safeguard assets from bankruptcy, divorce, lawsuits, substance abuse, and in-laws. Gain practical tips on the benefits of testamentary trusts and the strategic ap...2024-09-2714 minWealth For GenerationsThe Terminal Dollar: Redefining Financial Success - Beyond Security to SignificanceEver wondered if you’re managing your wealth for maximum impact and fulfillment? Find out how to transform your financial perspective by exploring the concept of the "terminal dollar" with our experts, Todd Whatley and Ian Weiner. This episode challenges you to rethink your financial goals once you've achieved security, delving into the essential uses of money—spending, investing, and giving away. Todd and Ian guide you through the mental shift that comes with assessing your financial journey, offering practical advice and real-life client stories to help you overcome lifelong frugal habits and make meaningful decisions about your surplus weal...2024-07-2321 minThe Elder Law CoachEp. 38 The Future of Elder Law Part 2 - One Solution, Financial PlanningSend us a textUnlock the secrets to effective elder law and estate planning as we host Ian Weiner, a Certified Financial Planner, who shares his expertise on the critical risks of using templated legal documents and "do it yourself" financial advice. Discover why DIY and advisor-mediated estate plans often fall short and how improper documentation can lead to serious consequences. Ian and Todd Whatley expose the ethical concerns of financial advisors inflating legal service costs and stress the importance of consulting certified elder law attorneys for comprehensive estate planning.In our advanced segment, we...2024-07-2227 minThe Elder Law CoachEp. 37 Trends in Elder Law - What is Coming?Send us a textDiscover the evolving world of estate planning and financial advising in our latest episode, featuring insightful contributions from Todd Whatley, the Elder Law Coach, and certified financial planner Ian Weiner. You won't want to miss Todd's candid apology for the delay in new episodes as he commits to more frequent and valuable content. Ian takes us through the types of financial advisors, emphasizing the fee-only model and the industry's shift towards comprehensive financial planning. Gain from Ian's extensive experience as he underscores the necessity for transparency and client-focused advice, steering away from mere...2024-07-2224 min
The Lawyer's Money ShowEpi 12 Crafting Fiscal Success: Personalized Investment Solutions for the Legal ProfessionUnlock the secrets to financial prowess with yours truly and expert Todd Whatley in our revealing chat on the Lawyer's Money Membership. Designed specifically for attorneys, this program promises a treasure trove of tools to shore up your financial well-being, from DIY planning resources to personalized investment strategies. We sift through guides, checklists, and flowcharts that spell out money mastery, and we lay bare the access to cutting-edge software like New Retirement and Monarch Money – your new allies in the quest for a robust financial future. Plus, discover the unique robo-advisor service that tailors your investment journey to match yo...2024-04-1618 minThe Lawyer's Money ShowEpi 15 Transforming Debt into Opportunity: Financial Intelligence for the Legal ProfessionAre your finances dressed in their best suit, or are they loitering in legal limbo? As legal professionals, Todd Whatley and Ian Weiner lead you through the labyrinth of financial planning where the stakes are as high as courtroom drama. We crack open the case files on why a detailed look at your tax returns is the secret weapon in building a personalized investment strategy. Failure to utilize this tool could be tantamount to professional malpractice—yes, it's that critical. We're also pulling back the curtain on our exclusive 90-day sprint, a service engineered to align every thread of a...2024-04-1627 min