The Legal Exchange

TFE Radio Network
TFE Radio Network
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The Legal Exchange radio show is designed to provide you with information and a better understanding of the estate tax and elder law planning issues, as well as guide you through the complex rules of Medicaid planning and Medicaid eligibility. Todd will also address ways to avoid the probate process, and will discuss estate, gift and income tax concerns. In addition, Todd will bring on a guest attorney that specializes in other areas of the law in an effort to provide you with a wide range of legal information and do so in a way that is easy to understand.

  1. 4d ago

    How to Protect Your Home and Family Business From Estate Planning Mistakes

    Could a nursing home stay put your family home at risk? What happens when a family business is passed down without a clear succession plan? And could gifting assets to your children actually create more financial problems than it solves? In this episode of The Legal Exchange with Todd Lutsky, estate planning attorney Todd Lutsky and financial advisor Susan Powers examine real court cases involving Medicaid estate recovery and a family business inheritance dispute. They also answer listener questions about second marriages, protecting retirement income from nursing home costs, and the tax consequences of gifting assets later in life.

  2. Oct 22

    Estate Planning Mistakes That Could Cost Your Family Thousands

    Estate planning isn't just about who inherits your money. The way you structure a trust, name beneficiaries, and transfer assets can determine how much your family ultimately keeps. In this episode of The Legal Exchange, Todd Lutsky and Susan Powers discuss the costly consequences of delaying estate planning, how trusts can protect inheritances from divorce and creditors, and why beneficiary designations can override a will. They also explain annual gifting rules, the tax consequences of giving away appreciated assets, and how irrevocable trusts can provide more flexibility than many people realize.

  3. Oct 16

    How Divorce Can Put Your Inheritance at Risk

    In this episode of The Legal Exchange, Todd Lutsky of Cushing & Dolan and Susan Powers of Armstrong Advisory Group discuss how to protect inheritances from divorce and creditors, why second marriages require careful estate planning, and what happens when someone remarries without a legally finalized divorce. They also answer listener questions about protecting assets for siblings, using trust funds to improve property, and the risks of adding children as joint owners of bank and investment accounts.

  4. Oct 9

    Estate Planning Mistakes: Wills, IRAs, Creditors and Gifting Assets

    In this episode of The Legal Exchange with Todd Lutsky, Todd Lutsky and Susan Powers examine two court cases involving disputed inheritances and creditor claims against an IRA. They also answer listener questions about gifting assets to reduce Massachusetts estate taxes and discuss how trusts can help protect wealth for future generations.

  5. Oct 2

    Should You Gift Assets Before You Die? The Tax Mistakes to Avoid

    Giving assets to your children may sound like a simple way to reduce your estate, but the wrong gift can leave your family with a much larger tax bill. The type of asset you give, its cost basis, and when you transfer it can completely change the outcome. Todd Lutsky and Susan Powers examine the estate planning and tax consequences of gifting assets during your lifetime. They discuss real court cases involving inheritance and real estate, answer listener questions about Massachusetts estate taxes, and explain why gifting cash can produce a very different result from giving away appreciated property. They cover: • Why gifting assets before death can mean losing the step up in cost basis • How a poorly drafted estate plan can create unintended inheritances when beneficiaries die first • Why trusts can provide greater control and protection when leaving assets to parents, children, or grandchildren • What happens when real estate is sold below market value and becomes part sale and part gift • Why gifting cash may make sense in situations where gifting appreciated investments does not • How vacation homes and rental properties can create significant capital gains and depreciation recapture issues • When paying Massachusetts estate tax could actually cost less than giving appreciated property away during your lifetime • How spousal lifetime access trusts can help certain higher net worth families move assets outside an estate while retaining indirect access through a spouse The key takeaway: Just because you can give assets away does not mean you should. Effective gifting requires comparing estate taxes with potential capital gains taxes, considering the cost basis of each asset, and determining whether an outright gift or a properly structured trust better accomplishes your goals. The right strategy can vary dramatically depending on whether you are transferring cash, investments, real estate, or other appreciated property.

  6. Sep 25

    Why Your Estate Plan Needs the Right Words

    Estate planning mistakes often come down to ownership, beneficiary language, and whether the documents clearly define who should — and should not — inherit. In this episode of The Legal Exchange, Todd Lutsky and Susan Powers discuss two real-life cases involving jointly held accounts and a child born outside of marriage, showing how unclear planning can create disputes over who receives assets. They also explain why convenience language matters for jointly held property, how a lack of planning can complicate wrongful death and estate claims, why nominee realty trusts can accidentally give away control of a home, and how testamentary trusts may help married couples address IRA planning, estate taxes, and nursing home protection.

  7. Sep 18

    Why Giving Assets to Your Kids Can Backfire

    Giving property or money to children may seem simple, but it can create major problems when marriages, taxes, creditors, or family disagreements get involved. In this episode of The Legal Exchange, Todd Lutsky and Susan Powers discuss two real-life cases that show why giving assets away during life can go wrong, especially in second marriages, divorce situations, and life estate planning. They also explain how trust planning can help protect children from disinheritance, why a life estate can leave parents without control over their home, how adopted children and stepchildren are treated differently without proper planning, and why naming your estate as the beneficiary of an IRA may help address income taxes, estate taxes, and nursing home protection.

  8. Sep 11

    Second Marriages, Trusts and IRAs: Estate Planning Mistakes to Avoid

    Second marriages can make estate planning significantly more complicated. Without the right plan, state law may determine who inherits your assets, potentially creating outcomes you never intended for your spouse or children. Susan Powers and estate planning attorney Todd Lutsky examine how second marriages, trusts, divorce, and retirement accounts can affect an estate plan. They also explain why choosing between a revocable and irrevocable trust depends on your goals and how certain IRA beneficiary strategies may provide additional tax and asset protection opportunities. They cover:What can happen when someone in a second marriage dies without a willHow intestate succession can divide assets between a surviving spouse and childrenHow trusts can provide for a spouse while preserving assets for children from a previous marriageWhy trusts can offer greater control than simply naming beneficiaries on individual accountsHow divorce can affect an existing estate planWhen a revocable or irrevocable trust may make sense based on estate planning and nursing home protection goalsWhy IRAs present unique income tax and estate tax planning challengesHow a testamentary trust can be incorporated into an IRA beneficiary strategy while providing additional protection for a surviving spouseThe key takeaway: Estate planning becomes especially important when second marriages, children from previous relationships, retirement accounts, and long term care concerns are involved. A properly structured plan can provide greater control over who ultimately receives your assets while addressing probate, taxes, family protection, and nursing home risks.

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4.3
out of 5
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About

The Legal Exchange radio show is designed to provide you with information and a better understanding of the estate tax and elder law planning issues, as well as guide you through the complex rules of Medicaid planning and Medicaid eligibility. Todd will also address ways to avoid the probate process, and will discuss estate, gift and income tax concerns. In addition, Todd will bring on a guest attorney that specializes in other areas of the law in an effort to provide you with a wide range of legal information and do so in a way that is easy to understand.

Information

  • Channel
    TFE Radio Network
  • Creator
    The Financial Exchange Network
  • Years Active
    2022 - 2026
  • Episodes
    541
  • Rating
    Clean
  • Copyright
    © Copyright The Financial Exchange Network
  • Show Website
    The Legal Exchange

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