Family Matters with Reese Law familymatterswithreeselaw

With guest Alexandra Herrera (Licensed Professional Counselor, MA-ATR, L.P.C.)

Leah Jones values her long-term relationships with clients. “I listen and understand my clients’ needs through every phase of life and am passionate about making sure we achieve their goals together,” says Leah. With almost two decades of asset and private wealth management experience, Leah recognizes that today’s world is fluid and she is always ready to help her clients adapt.


She is passionate about helping both her clients and their children to achieve their life goals. She believes financial literacy education can and should start at a young age.


Leah joined Hightower as Director of Financial Planning in 2015. Leah’s prior experience and knowledge in the financial industry was acquired while working at several different firms.


Leah specializes in developing and implementing complex financial planning strategies, managing investments including alternative investments and has a specialty in advising clients who need assistance with divorce financial planning. 

Cyndi Turner has worked for almost three decades in both the public and private sectors, with a professional background that includes serving in clinical as well as supervisory roles. She is a Licensed Clinical Social Worker (LCSW), Licensed Substance Abuse Treatment Practitioner (LSATP) and Master Addition Counselor (MAC). As co-founder and Clinical Director of Insight Into Action Therapy, she provides a wide variety of services to include mental health and substance use disorders therapy, clinical supervision, community education, and court-involved assessment and treatment. She is also the co-founder and Chief Executive Officer of Insight Recovery Centers, a Department of Behavioral Health and Developmental Services licensed intensive outpatient program and outpatient program (ASAM Level 1.0 and 2.1 level of care) for those struggling with substance use disorders. With Craig James, she co-developed the  Dual Diagnosis Recovery Program© used in both companies.

Working with individuals and couples going through life changes, including medical issues, is Phyllis Palombi's specialty. She has dedicated her career helping people make their relationships, marriage, healthier and happier learning about themselves and communicating needs and goals more effectively. Couples also come to her when they have already made a decision to separate and want to do it in healthy ways. She is part of the Collaborative Divorce Community in Northern Virginia where she team's up with attorneys and financial experts to help people find a more amicable way to divorce with more mental health support for the whole family.

Sponsor link: www.reeselawoffice.com


 


Key Takeaways:


0:00 Intro


1:04 Andrea talks about what someone that is contemplating a divorce or has received a final decree of divorce be doing to protect their interests and what’s an estate plan and why everyone should have one


2:42 Andrea talks about what to do next if you already have an estate plan and the different items that comes with an estate plan 


6:16 Andrea explains if people are still making the appointments to go and sign the final papers in Covid times and how the process goes 


7:28 Andrea also talks about when is the best time to update your powers of attorney or will and if it’s when married or after a divorce 


8:18 Andrea explains what the living trusts and wills documents are, what are their differences and what purposes do they fulfill 


11:48 Andrea also explains how through a trust, you can create generational wealth and why someone would have a trust and a will at the same time 


15:11 Andrea talks about why you should at least look at your documents annually and conceivably update and how they help their clients do that 


20:28 Andrea talks about elder care, what it is and how that is also can be part of the planning and why it is important 


24:08 Andrea also talks about things that causes people to be hesitant to go in and plan for their estate and what she’d advice her clients 


26:20 Andrea shares some tips on how to identify someone to be your backup for household and financial matters


 


Shows Mentioned:


www.reeselawoffice.com


 


The Health Insurance Portability and Accountability Act of 1996 is a United States federal statute enacted by the 104th United States Congress and signed into law by President Bill Clinton on August 21, 1996.


 


A living will, also called a directive to physicians or advance directive, is a document that lets people state their wishes for end-of-life medical care, in case they become unable to communicate their decisions. It has no power after death.


 


Medicaid in the United States is a federal and state program that helps with healthcare costs for some people with limited income and resources. Medicaid also offers benefits not normally covered by Medicare, including nursing home care and personal care services.


 


Quotes Mentioned:


“Having an estate plan gives people control over who they give their wealth to when they want and the way they want.”


“If you have belongings, that is your wealth and you need to plan for what happens to it when you die.”


“The medical power of attorney lets someone else make medical decisions for you if you're incapable of doing so.”


“If you haven't signed these documents, they are not in effect and they won't work for you.”


“At the end of 2025, the current estate tax exemption sunsets.”


“You can’t create a supplemental needs trust or a special needs trust for someone in a will, but you can do that in a trust.”


“Anyone over the age of 18 with belongings needs to plan for their estate.”


“Did you know that all states have a department of unclaimed assets?”


 


Guests Social Media Links:


Andrea W. Bryk, Esq.


LinkedIn: https://www.linkedin.com/in/andrea-weiss-bryk-44737735/ 


Phone: 703-917-0804


Email: awbryk@wrightlawstrategies.net 


 


Episode Sponsor – Reese Law:


A Fairfax, VA family law firm serving Northern Virginia and Montgomery County, MD. We strive to see our clients as emotionally, mentally and financially whole at the end of a family law dispute. You can find more information at www.reeselawoffice.com