In this episode, Tammi and Rick discuss the cost(s) of an estate plan. Typically, clients “shop” advisors refer to an attorney price based on the cost of the documents. In reality, there are THREE costs to any estate plan. They review the pricing from the point of view of all involved, including both direct and indirect impact. Another “24 Hour Thinker” episode that will challenge you to think through the cost issue fully!   Show Notes Attorneys fees in estate planning - 0:46 Talking about the final price - 8:48 Losing money to be a good attorney - 11:43 Three costs on an estate plan - 1 ..read more

Rick shares his experience as head of the National Network regarding what makes a successful estate planning attorney. He covers what clients and advisors to look for, as well as speaking directly to attorneys who may be considering practicing estate planning. Valuable information from each point of view is presented—and the surprising solution is we’re all looking for the same thing!   Show Notes The Lifespan Circle - 2:39 Building a community of attorneys - 5:34 Communication with clients - 10:45 Some history about attorneys - 19:12 Building plans that work - 21:06 The truth about esta ..read more

There are significant differences in the approaches that will be taken in the future depending on election results. Rick examines the three most likely scenarios and how clients and advisors can prepare for them.   Show Notes Being ready in advance - 2:02 Not knowing the results of the election - 2:12 Not knowing how the tax rate will be - 4:28 Considering a roth IRA - 7:37 Reducing your taxes - 9:47 Having an immediate rate of return - 10:59 Doing the planning today - 13:31 The solutions of the Secure Act - 14:28 Access to cash value - 24:35 Tools for clients - 31:30   Review, Sub ..read more

Rick and Tammi discuss the dramatically different positions of the Trump and Biden campaigns regarding estate and income tax planning. The impact of a potential Democratic administration includes a need for close examination of client estate and financial plans, as well as a likely return to increased insurance recommendations coupled with special trust planning to help clients deal with likely increased estate tax exposure.   Show Notes The election coming up - 2:05 Two visions about planning - 3:28 Trusts and estate planning - 5:40 Insights about taxes - 12:54 The democratic’s position ..read more

Keep an open mind as you approach distribution planning after the two major Acts passed in the past few months. Trusts remain a viable and valuable option for receiving retirement plan distributions! Show Notes How things may go with the pandemic - 1:25 What has happened with advisors and clients with these changes - 1:50 The impact of retirement planning - 2:21 The biggest concern - 4:28 Long-term care expenses - 5:23 Learning more about Trusts - 9:33 Opening the mind for the advisors - 11:43 Training programs for advisors - 15:44 What it means to “go to the cookie jar” - 18:59 Knowing more ..read more

Rick shares his thoughts regarding pandemic issues, including impact on the future for clients and professionals alike as we reach the turning point of the COVID-19 scare.   Show Notes Starting to reopen - 1:42 The first weeks of quarantine - 2:30 Having dedication and possibilities - 3:58 Complaining or creating - 6:34 The banks bureaucracy - 8:23 Something positive during the pandemic - 9:34 The ability to do meetings - 11:01 The increase of productivity - 13:37 What’s the biggest advantage? - 28:58 Coming out much stronger than the beginning - 29:52 Working for people all over the pla ..read more

Rick Randall shares his insights during quarantine: He talks about the podcast, how he was doing many webinars, and explains about transactional thinking.   Links and Resources from this Episode Connect with Rick Randall https://lifespanusa.com/team/bio/rick-randall   Show Notes Transactional thinking - 2:13 What’s unusual nowadays - 3:12 The problem with the transactions traps - 5:20 The problem starts with the attorneys - 5:47 Academic thinking - 7:48 Recruiting and training attorneys - 10:33 Building a plan that works - 13:49 Transactional attorneys - 14:29 Creating a plan ..read more

Today’s world is all around technology. Going virtual is the solution for businesses during the pandemic. Rick and Tammi talk about the impact of working virtually for businesses and what you can do to have virtual planning during COVID_19.   Links and Resources from this Episode https://nnepa.com/estate-planning/resources/welcome-clients Show Notes Virtual learning during quarantine - 1:14 The context of estate planning - 1:47 Virtual businesses - 3:01 The home office deduction - 5:40 Estate planning online - 7:04 Rick’s virtual practice - 12:04 Building the LifeSpan Circle - 20:24 Us ..read more

If you want to learn more about the thinking process you should listen to this podcast. Rick Randall interviews Nancy Kline, who is an author, teacher, coach, and trainer. She is President of Time To Think and today she gives us some tips to understand the thinking process and the client-advisor relationship. Links and Resources from this Episode https://www.timetothink.com/meet-us/nancy-kline/ https://www.timetothink.com/ https://www.amazon.com/Time-Think-Listening-Ignite-Human/dp/0706377451 https://www.amazon.com/More-Time-Think-Being-World/dp/1906377103 Show Notes About Nancy's books - 1 ..read more

An innovative leader in the Wealth Reception Planning Movement, Rick Randall, develops and teaches concepts, tools, and systems designed to help clients and professional advisors create and enjoy true wealth. He is also the developer of The LifeSpan Planning Process. He has an incredible co-host on today's show: Tammi Brannan! She is the host of the Blueprint Process where she helps others to find their purpose in life through the use of their Blueprint, so stay tuned! Links and Resources from this Episode Connect with Rick Randall https://themoneyadvantage.com/estate-planning-that-works-rick ..read more