Here’s what we cover in this episode:

📜 Wills and Trusts: Different tools with very different outcomes

⚖️ Executor or Trustee: Authority depends on the governing document

🎁 Heirs and Beneficiaries: Legal inheritance vs. intentional naming

🔐 Trust Types: Revocable vs. irrevocable control and protection

🩺 Two “Wills”: Medical wishes vs. property instructions

📝 Beneficiary Forms: Contract designations can override your will

Your Guide:

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Confused by all the estate planning lingo you hear tossed around? Estate planning comes with a language all its own, and many of the terms sound similar enough to create unnecessary confusion. In this episode, Connor Kelly, Estate Planning Attorney, clarifies some of the words and concepts that often leave families unsure about what their documents actually do and who is responsible for carrying out their wishes. Tune in and finally feel confident speaking the language of estate planning.

Dive Into This Episode:

0:00 – Intro

0:58 – Will vs. Trust

3:07 – Executor vs. Trustee

4:01 – Beneficiary vs. Heir

4:53 – Revocable Trust vs. Irrevocable Trust

5:42 – Living Will vs. Last Will and Testament

6:19 – Testate vs. Intestate

6:49 – Per Stirpes vs. Per Capita

7:49 – Misconception #1: My Will Controls Everything

8:46 – Misconception #2: Once I Sign My Estate Plan, I’m Done