Chris Burke is a lawyer who specializes in business and estate planning, and he joins us today to discuss the Estate Planning process and how it relates to Physicians.
In this episode, we will examine the four pillars of Estate Planning: Wills, Power of Attorney, Healthcare Directives, and Revocable Living Trusts.
Our discussion is one that most people want to avoid having, but it’s necessary. After all, do you know what will happen to you and your assets when you die?
Chris gives advice on how to avoid making critical mistakes during the planning and how to protect all the hard-earned assets you have accumulated in your lifetime. Whether you are single with no kids or married with a large family, estate planning is something we all need to plan for.
Chris also talks about the business side of estate planning and what options physicians have when considering opening up their own practice.
What you will learn in this episode:
- What a will is and why we all need one
- Important things to consider when creating a will
- What happens if you die without a will
- Healthcare directive vs Power of Attorney
- Revocable Trusts and how to set one up
- What to include in your Trust
- Pros and Cons of setting up an LLC or a Solo401k
- What probate is and how the Trust protects you and your assets
Also, please consider supporting the victims in Las Vegas by donating to the fundraising campaign led by Zappos. Zappos has pledged to match all donations up to $1,000,000 in total.
Here is the link to support. And, here is a link to my own personal story of being 1 block away from the shooting. Thank you.