The Key Points:
We are back with Joel Cavanaugh, partner at Hanna Rasnick Evanchan Palmisano Hobson & Fox LLC, for this episode. Joel handles a wide array of cases in estate planning and has a wealth of knowledge to share with us today. In part one of this two-part episode, we got to know more about Joel and talked about the ins and outs of running a business. In part two, Joel will answer your estate planning questions.
In this episode, Joel will share why information is power in estate planning and debunk some common misconceptions that often lead to confusion. He’ll explain why it’s critical to have a will, a financial power of attorney, and a medical power of attorney after the age of 18 and answer questions such as “Do I need a trust?” Join us as Joel demystifies estate planning and demonstrates that it doesn’t have to be as intimidating as many people believe.
Here’s some of what you’ll learn in this episode:
- The importance of having a will, a financial power of attorney, and a medical power of attorney. (1:19)
- Joel breaks down the differences between a financial power of attorney and medical power of attorney. (5:28)
- Do I need a trust? (11:38)
- The differences between a revocable and irrevocable trust. (17:34)
- The importance of having an estate plan. (23:44)
If you have any questions, please reach out to us at https://www.baschrock-fg.com/ or give us a call at 330-473-1060