10-9-26 How to Keep Your Estate Plan From Tearing Your Family Apart

Estate planning is about more than deciding who gets what. Poor planning, unequal circumstances among children, prior financial assistance, caregiver responsibilities, and mismatched inherited assets can create family conflicts that last for years.

Richard Rosso and Jonathan McCarty discuss how to have the important conversations before an estate plan is finalized, including treating siblings differently when their circumstances are different, caregiver contracts for children who live nearby, inheritance stipulations, beneficiary alignment, and why “equal” isn't always the same as “fair.”

We also discuss sequence-of-returns risk, longevity planning, financial literacy in America, what children learn about money from their parents, the problems with financial advice from fin-fluencers, tipping and the DoorDash debate, and why financial education really begins at home.

Plus, a preview of estate planning for pets and why even the family dog deserves a place in the planning conversation.

0:00 - INTRO

0:18 - October in Houston

1:52 - Website Redux & Financial Planning Colonoscopy

3:03 - Sequence of Returns Risk <article link below>

6:08 - Hedging for Longevity Risk (Function Health)

9:20 - How the US Compares to Other Countries w Basic Aspects of Financial Literacy

13:26 - Teaching Kids Financial Literacy - It Starts in the Home

14:03 - Fin-fluencers' flaws