The Chris Berry Show: Recent Episodes

Christopher J. Berry

Christopher Berry discusses the best Legal, Financial and Tax Planning advice for the second half of life. Join Christopher for new episodes every week.

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There are two key ingredients that are viewed as really the foundation of moving into retirement and beyond. These two, pieces to the foundation are creating the legal entity, the legal structure. That's estate plan, the will, the trust and then the second piece of it, and this is really what gives people a lot of peace of mind as it relates to moving into retirement is creating that income plan.

Join Chris Berry in this episode where he shares the retirement income planning using the "Bucket Plan" concept.

In this episode, you'll learn...

  • Chris’ positive focus for the week

  • My book on building that retirement and legacy plan

  • Creating a clear retirement legacy blueprint

  • Income planning as a foundation

  • Accumulating money and saving to retirement

  • The Bucket Plan

  • Sequence of return and risk

  • Structuring the income plan

  • Distribution and preservation phase

  • Organizing your assets

  • Widow's Penalty

  • Structuring retirement in terms of time horizon

  • Money over the next 10 years

  • Interest Rate Risk

  • 60/40 Investment

Links and Resources:

  • castlewealthlegal.com

  • RetirementPlanWebinar.com

  • AlzElderCare.com

  • castlewealthgroup.com

  • TheChrisBerryShow.com

  • Michiganestateplanning.com

Follow us on Social Media:

  • Twitter

  • Facebook

  • LinkedIn

  • YouTube

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So this week on the show I will highlight the book, The Caregivers Legal Guide to Planning for a Loved One With Chronic Illness - this book will give you some guide, kind of create a roadmap for the long-term care journey, the elder care continuum of needing maybe home care or assisted living or assisted living with memory care or nursing home care. Our book that I wrote is specifically to help you navigate that long-term care journey, to give you insider strategies from an advisor and certified elder law attorney that has helped countless families. I'll also share points and deep dive on long term care and many more!

In this episode, you'll learn...

  • Chris’ positive focus for the week

  • Book: The Caregiver's Legal Guide Planning for a Loved One With Chronic Illness

  • Preview of my second book

  • How we can help to protect your assets

  • Insider's guide on how to plan for long-term care0

  • Gift taxes and income tax

  • Long Term Care

  • A Case Study

  • Financial Power of Attorney

  • Key Legal Documents

  • Estate Planning

  • Long Term Care Insurance

  • Medicaid

  • Planning Strategy

Links and Resources:

  • castlewealthlegal.com

  • RetirementPlanWebinar.com

  • AlzElderCare.com

  • castlewealthgroup.com

  • TheChrisBerryShow.com

  • Michiganestateplanning.com

Follow us on Social Media:

  • Twitter

  • Facebook

  • LinkedIn0

  • YouTube

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This week on the Chris Berry Show, what we're going to do in our second and third segments is we're going to get into the changing retirement risks. So the risks that maybe your parents or the previous generation had, the risks are a little bit different these days. And we're going to get into what those risks are and what you can do to try to mitigate some of those risks.

In this episode, you'll learn...

  • Chris’ positive focus for the week

  • Longevity Risk

  • The sequence of return of risk

  • Long Term Care Risk

  • Market Risk

  • Tax Risk

  • Stock Market Trending News

  • Understanding how retirement is evolving

  • We can help you establish Confidence, Clarity, and Comfort in your retirement

  • Tax Planning strategies

  • Roth IRAs

  • Income planning and investment advice

  • Protection for your investments

  • Low interest Rates

  • Potential Tax Liabilities

Links and Resources:

  • castlewealthlegal.com

  • RetirementPlanWebinar.com

  • AlzElderCare.com

  • castlewealthgroup.com

  • TheChrisBerryShow.com

  • Michiganestateplanning.com

Follow us on Social Media:

  • Twitter

  • Facebook

  • LinkedIn

  • YouTube

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It starts with the estate planning stress test that looks at the amount of stress your family would have to deal with if something were to happen to you right now. Things like going through probates, creating your retirement and legacy blueprint, important steps your family needs to take when something happens to you and addressing potential outside influences and challenges the transfer of an estate or lay claim to funds will be covered today.

These are only some of the things you need to consider. In this episode we will run through the 20 questions about stress testing your estate plan and many more! Our focus is always to figure out what your goals are, figure out the best strategies to help you achieve those goals, and then pick the right tools.

In this episode, you'll learn...

  • Chris’ positive focus for the week

  • Estate Planning

  • Having an income plan for retirement

  • Creating a retirement and legacy blueprint

  • Different legacy blueprint focus

  • The three big risks as it relates to retirement and legacy planning

  • What important steps your family needs to take when something happens to you

  • Why it is important to ensure access to your estate planning documents

  • Do you have standing instructions or provisions for medical tests to determine your level of capacity so that someone could handle your immediate affairs?

  • Basic guardianship documents

  • Do you confidently know if your assets are subject to government seizure to pay for your long-term care?

  • Personal care plan

  • Advantage of a family meeting where all of the persons involved in your estate understand what needs to happen.

  • Are you 100% confident that your executors or beneficiaries will not subject your estate to probate court to decide who gets your assets?

  • The benefits of getting your assets are properly titled

  • Our 10 point estate planning audit checklist

  • Possible disputes over hard to divide assets.

  • Why not having a proper beneficiary designation is the worst mistake a family can make

  • How to address potential outside influences and challenges the transfer of an estate or lay claim to funds

  • Have you set up controls for distributions for your funds?

  • Making sure there is continuity in taking care of your parents when something happens to you.

  • Have you established a well-documented succession plan so your families

  • Legacy locker where we can store all digital media

Links and Resources:

  • castlewealthlegal.com

  • RetirementPlanWebinar.com

  • AlzElderCare.com

  • castlewealthgroup.com

  • TheChrisBerryShow.com

  • Michiganestateplanning.com

Follow us on Social Media:

  • Twitter

  • Facebook

  • LinkedIn

  • YouTube

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For a lot of people, one of the things that they have on their checklist for 2021 is to finally get that estate plan either done or to update that estate plan. That's what we'll spend time talking about in this episode.

We dive deep into the things you need to think about when it comes to putting together an estate plan. What are the tools that we need as we put together an estate plan?

In this episode, you'll learn...

  • Chris’ positive focus for the week

  • New tax season fundamentals

  • The real fact behind the Secure Act

  • Tax conversation of how much money to pull out of the IRAs and 401ks

  • Insights from the book biography on John D. Rockefeller

  • Market volatility

  • New presidential leadership and it’s possible effect on taxes

  • How the financial crisis can stay for long-term

  • How to adjust the risk by reviewing your portfolio

  • Prioritizing Estate Planning this year

  • Different tools to get your estate plan done

  • Elder law attorney versus just an estate planning attorney

  • Estate Plan as a rule book

  • What is Guardianship

  • The importance of medical and financial power of attorney

  • Revocable trusts that avoid probate and control the distribution upon death

  • Avoiding probate

  • Beneficiary designations

  • Estate planning and audit

  • Utilize trusts to protect against estate taxes

  • Medicare really only pays short-term rehab VA benefits and then Medicaid

  • Long term care

  • Castle Trust as a strategy or potential tool where we move assets into the Castle Trust

  • Asset protection for beneficiaries

Links and Resources:

  • contact@castlewealthgroup.com

  • www.wisdomwebinar.com

  • castlewealthlegal.com

  • RetirementPlanWebinar.com

  • AlzElderCare.com

  • castlewealthgroup.com

  • TheChrisBerryShow.com

  • Michiganestateplanning.com

Follow us on Social Media:

  • Twitter

  • Facebook

  • LinkedIn

  • YouTube

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Planning your retirement can be done easily but we may overlook the risks behind it. When creating your own retirement and legacy blueprint, it is important to take into account strategies to protect you from risks.

In today's episode, we dive deep into the three biggest risks in retirement with the options to protect yourself from these risks.

In this episode, you'll learn...

  • Chris’ positive focus for the week

  • Introduction to the risks in retirement

  • Tax Risk

  • What happens to tax brackets when the Tax Cuts and Jobs Act ends

  • How the country’s debt affect tax

  • Stretching IRA tax through the SECURE Act

  • How to minimize taxes for your retirement

  • Dealing with Market Risk

  • Diversification of investments

  • How to measure for risk/volatility

  • Building a strategy for a soon bucket and later bucket of money

  • Long-term care risk

  • What is Private duty home care?

  • The difference between independent living and assisted living

  • Long-term care insurance

  • How does the Medicaid crisis planning strategy work?

  • Income planning as the foundation in retirement

Links and Resources:

  • contact@castlewealthgroup.com

  • www.wisdomwebinar.com

  • castlewealthlegal.com

  • RetirementPlanWebinar.com

  • AlzElderCare.com

  • castlewealthgroup.com

  • TheChrisBerryShow.com

  • Michiganestateplanning.com

Follow us on Social Media:

  • Twitter

  • Facebook

  • LinkedIn

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The year-end is fast approaching. We did know it will be a crazy year because of the elections but we did not anticipate the year will go this way with the pandemic.

In today’s episode, we will discuss the three big risks that we need to manage for retirement. It is important to have a plan after what has happened this year. If you haven’t had your plan assessed or reviewed, now is certainly the time to do that.

In this episode, you'll learn...

  • Chris’ positive focus for the week

  • Year-end recap

  • Secure act

  • SECURE Act can only stretch that IRA up to 10 years

  • The misconception about the tax-deferred account

  • Three Big Risks of pre-retirement

  • Required minimum distributions from your pre-tax accounts

  • The real reason why they pass the SECURE Act

  • Why the gov't wants you to defer your tax

  • How tax can be the biggest risk

  • The window of opportunity for tax management

  • Importance of Qualified tax Analysis

  • How $22 Trillion debt affects the tax status in the future

  • Mitigation of long term care cost

  • Statistics of nursing home care

  • Market volatility as risk and pre-retirement

  • Investment audit

  • Waiving Penalty under 60

  • Rich Man's Roth

  • Checking where you fall in terms of the tax bracket

  • Moving to the tax-free bucket

Links and Resources:

  • contact@castlewealthgroup.com

  • www.wisdomwebinar.com

  • castlewealthlegal.com

  • RetirementPlanWebinar.com

  • AlzElderCare.com

  • castlewealthgroup.com

  • TheChrisBerryShow.com

  • Michiganestateplanning.com

Follow us on Social Media:

  • Twitter

  • Facebook

  • LinkedIn

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Medicare can be confusing, there are a lot of details and information to understand. As part of the 5 key areas that make up the retirement and legacy blueprint, it is important that you are guided correctly in making sure that this is covered.

Information about Medicare is all over the net and is hard to know which one is right for you. In this episode, I will discuss the details of Medicare to help you better understand. You can use the tools that I will share to ensure that you get a sound plan and decision making.

In this episode, you'll learn...

  • Chris’ positive focus for the week

  • How medicare can have an effect in your retirement?

  • Where does Medicare fit in the overall retirement plan

  • Income tax planning

  • How to structure income and retirement?

  • Investment planning that you are comfortable with

  • Death of the 60/40 portfolio idea

  • Risks to take into account in tax planning

  • How to manage taxes this year and on your retirement?

  • Castle Trust that builds your protection

  • Filling the gaps that Medicare part A and B cover

  • What is the Medicare advantage route?

  • Social Security as a source of income

  • Medicare supplement that can close the gap

  • 5 Key Areas that make up the retirement and legacy blueprint

Links and Resources:

  • contact@castlewealthgroup.com

  • www.wisdomwebinar.com

  • castlewealthlegal.com

  • RetirementPlanWebinar.com

  • AlzElderCare.com

  • castlewealthgroup.com

  • TheChrisBerryShow.com

  • Michiganestateplanning.com

Follow us on Social Media:

  • Twitter

  • Facebook

  • LinkedIn

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There is an old paradigm of retirement where you defer tax payment as long as possible until you find out that you pay more in taxes with this approach. This may be resonating with you right now if you are in the higher tax bracket. A proper tax planning report can help to show you the macro view of minimizing taxes in your lifetime.

Retirement is different for everyone and the strategy to distribute these accumulated assets is specific. Let’s look at different topics as we look at this and possibly consider it with a new paradigm shift. I will share with you how to anticipate the future of taxes, what tools you can use and how to plan your asset distribution appropriately towards your retirement.

In this episode, you'll learn...

  • Chris’ positive focus for the week

  • Difference between old paradigm and new paradigm in retirement

  • Tax Risk and how Taxes are going up in the future

  • Retirement planning

  • Tax Cut and Jobs Act

  • Preserving and distributing assets

  • What is the Sequence of Return Risk

  • Distribution of accumulated wealth

  • The basics of income gap

  • 60/40 portfolio mix may not be the best option now

  • Tax buckets and which account you can draw as you are moving into retirement

  • Why you need to compute your Fortified Income Score to close the income gap

  • Where taxes are going in the future and how you can manage taxes

Links and Resources:

  • contact@castlewealthgroup.com

  • castlewealthlegal.com

  • RetirementPlanWebinar.com

  • AlzElderCare.com

  • castlewealthgroup.com

  • TheChrisBerryShow.com

  • Michiganestateplanning.com

Follow us on Social Media:

  • Twitter

  • Facebook

  • LinkedIn

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If you are going through a process with any of the 4D’s - Divorce, Disability, and Death, assets come into play. There is really no guarantee on any type of asset protection. When it ends up in court, you never know what is going to happen. Understand that there is no assurance, but you can build in layers of protection.

Today, with our guest Atty. John Ceci, we are going to talk about divorce, asset protection that you can build in layers of protection ahead of time and use legal strategies that you can shield yourself with.

In this episode, you'll learn...

  • Chris’ positive focus for the week

  • Things that you can do proactively with asset protection

  • Types of Trusts to protect your beneficiaries

  • How Castle Trust can protect your assets from creditors and the costs of long-term care

  • Hot assets and real estate and LLC

  • Divorce statistics

  • John’s guide to simple divorce

  • Basic ways to get your divorce completed

  • Completing a Verified Financial Form to reveal everything

  • Effects of commingling assets

  • Protecting inheritances

  • Beneficiary designations

  • Keeping the money on the bloodline

  • Legacy inheritance language

Connect with our Guest, Atty. John Ceci:

  • http://www.attorneyceci.com/

Links and Resources:

  • castlewealthlegal.com

  • RetirementPlanWebinar.com

  • AlzElderCare.com

  • castlewealthgroup.com

  • TheChrisBerryShow.com

  • Michiganestateplanning.com

Follow us on Social Media:

  • Youtube: https://www.youtube.com/channel/UCav9WnTkPgKt0FwcsvlBJtg

  • Twitter: http://www.twitter.com/ElderCareFirm

  • Facebook: http://www.facebook.com/chrisberryshow

  • LinkedIn: http://www.linkedin.com/in/christopherjberry

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So you move into retirement and there is little know-how on what you should be doing correctly in terms of planning. The whole process becomes puzzle pieces that can be mismatched easily. We can choose to focus our attention on the things we can control and start from there.

The top 3 key areas of focus retirees need assistance with are legal, financial, and tax -- all of these need to work together. Today, I will discuss the correct actions and what you should be doing with your money going into retirement.

In this episode, you'll learn...

  • Chris’ positive focus for the week

  • What I can share with you in my interview with Gracefully Greying show.

  • My background before I went into Law and become CELA

  • Plan for preservation and distribution

  • Tax analysis where you can actually run numbers

  • Tax Planning

  • Asset based long-term care or hybrid policies

  • The right insurance set up

  • VA benefit for home care

  • Five different areas every retiree needs to think about

  • What you can do to be prepared for change - pandemic, elections, etc.

  • Rethinking your retirement plan in 2020

  • Looking for options to accumulate wealth

  • Income planning

  • Protecting your legacy

Links and Resources:

  • castlewealthlegal.com

  • RetirementPlanWebinar.com

  • AlzElderCare.com

  • castlewealthgroup.com

  • TheChrisBerryShow.com

  • Michiganestateplanning.com

Follow us on Social Media:

  • Twitter

  • Facebook

  • LinkedIn

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If you are getting close to retirement or retired now, what are the moves that you should be doing to ensure that your retirement is as tax efficient as possible? If you think taxes are going up in the near future, you are in a situation where you need to explore a strategy to diffuse the ticking “tax time bomb” that is existing in your retirement accounts.

In this episode, I will share with you how you can analyze your tax situation and take advantage of the current window of opportunity and how we can control the tax environment.

In this episode, you'll learn...

  • Chris’ positive focus for the week

  • Partnering with an Actuary

  • The order of money conversation

  • Tax-free accounts

  • Cash Value Life Insurance

  • Taxable Money

  • Tax-Deferred Money

  • The reason why you cannot rely on pension only

  • Changes in the Social Security

  • Penalties on beneficiaries

  • Roth conversion strategy

  • Why does a person who is in retirement need insurance?

  • Death benefit doubles as a long-term care benefit

  • The Secure act and deferring paying taxes

  • Why the stimulus package that was just passed by the government can directly affect tax

  • The need to analyze your tax situation NOW.

  • This may be the last year to take advantage of the window of opportunity for low marginal tax bracket

Books:

  • No Compromise Retirement Plan

  • New Rules of Retirement Savings - We can send you a Free Electronic Book copy!

Links and Resources:

  • Retiretaxfreeplan.com

  • AlzElderCare.com

  • castlewealthgroup.com

  • TheChrisBerryShow.com

  • Michiganestateplanning.com

Follow us on Social Media:

  • Twitter

  • Facebook

  • LinkedIn

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Many people believe that having an estate plan simply means drafting a will or a trust. You may ultimately find yourself left with a lot of questions before you even start. Acknowledging that it is high time to get your legal affairs in order and finding the right firm to prepare your documents are the initial actions you need to take.

In this episode, I’ll talk about the next steps that can help you cover all contingencies and make sure that your estate plan is complete.

In this Episode:

  • Chris’ positive focus for the week

  • Following a plan and picking the right tools for state planning

  • The big dirty secret of estate planning

  • What is the advantage of Castle Wealth Group from other firms

  • Four ways assets can be transferred to your name

  • Certified Elder Law Attorney gold standard in estate planning and elder law

  • Elder Law for asset protection

  • Estate planning 10-point checklist

  • What is Castle Trust?

  • Estate planning 101 webinars

  • Funding a trust

  • Investment and tax planning advice to coordinate your full plan

  • The macro approach in terms of taxes

  • Three big law changes as it relates to taxes

  • The brisket analogy

  • Viewing an estate plan as a parachute

Links and Resources:

  • Send Chris an Email
  • RetirementPlanWebinar.com
  • AlzElderCare.com
  • castlewealthgroup.com
  • TheChrisBerryShow.com
  • Michiganestateplanning.com

Follow us on Social Media:

  • Twitter: www.twitter.com/ElderCareFirm
  • Facebook: www.facebook.com/chrisberryshow
  • LinkedIn: www.linkedin.com/in/christopherjberry

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Regardless of what is causing your financial setback, your path to financial recovery will require a set of action steps. You may believe your situation is unique, but many are walking the same path as you. The road to financial recovery reveals the exact actions you need to take to get back on your feet financially.

So let's get started with the five ways that will help you recover from any financial downturn or crisis.

In this Episode:

  • Chris’ positive focus for the week

  • How your initial emotional reaction to the current crisis can play a big role to your decisions

  • The most important legal documents you need to prepare and update at this point

  • If you are a medical frontliner, we can offer a free medical power of attorney for you

  • Virtual process that we have in place to help you plan

  • How you can fix your legal documents at the comfort of your living room

  • Tax review and planning

  • Where to easily access the Secure Act webinars

  • Fortified income score

  • How much risk you should be taking into your portfolio

Links and Resources:

  • Send Chris an Email

  • RetirementPlanWebinar.com

  • AlzElderCare.com

  • castlewealthgroup.com

  • TheChrisBerryShow.com

  • Michiganestateplanning.com

Follow us on Social Media:

  • Twitter: www.twitter.com/ElderCareFirm

  • Facebook: www.facebook.com/chrisberryshow

  • LinkedIn: www.linkedin.com/in/christopherjberry

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What are the things you should be doing to move forward and put ourselves in the best position from a legal, financial, and tax response standpoint during this scary time? We can’t control the things that are happening outside and I chose to focus only on the things which I can control. When you are paralyzed by fear at the time like this, setting the correct mindset and knowing your next move can make a difference!

Today, I will discuss the two most important legal documents to have in place right now, the correct financial response, and looking at tax strategy through a macro lens.

In this Episode:

  • Chris’ positive focus for the week

  • 6 points to change your mindset from Dan Sullivan

  • Two most important legal documents you need to have in place right now

  • How to handle your situation with the medical power of attorney through us

  • Proper structure to pass on and avoid probate upon death

  • How do assets transfer to someone else’s name based on state administration

  • 4 ways assets can be transferred upon death

  • Fortified retirement plan

  • Offensive and defensive financial structure focus to have

  • How to increase your income score

  • Tax planning over your lifetime and your beneficiaries lifetime

  • Different Tax buckets - Taxable bucket, Tax-deferred buckets, and Tax-free buckets

  • Tax-efficient retirement

Links and Resources:

  • “Scary Times” Success Manual of Dan Sullivan

  • RetirementPlanWebinar.com

  • AlzElderCare.com

  • castlewealthgroup.com

  • TheChrisBerryShow.com

  • Michiganestateplanning.com

  • Register for one of our free estate & asset protection workshops

Follow us on Social Media:

  • Twitter: www.twitter.com/ElderCareFirm

  • Facebook: www.facebook.com/chrisberryshow

  • LinkedIn: www.linkedin.com/in/christopherjberry

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We can't control the events happening around us but we can definitely control our actions and responses. Because of this, I chose to focus on the upside instead of the downside. The same can be applied towards investment. We can focus on the negative and be paralyzed or look at the positive and take advantage of the opportunity.

In this episode, I'll share the ten things we can learn from the “Scary Times” Success Manual of Dan Sullivan. We will talk about the opportunities in the new environment that we're experiencing. We will also look at the things that we should be doing to put ourselves in the best possible position moving forward.

In this Episode:

  • Chris’ positive focus for the week

  • Ten things you can learn from “Scary Times” Success Manual of Dan Sullivan

  • Changing your practice to adjust with the trying times

  • How much risk are you willing to take into your portfolio

  • Focus on the opportunities in this new environment

  • Two strategies that helped in the past in terms of structuring a portfolio to manage risk

  • Four ways we can help in addressing changing market volatility

  • Six key components to any estate plan

  • Reanalyze your portfolio by doing a risk exposure review

  • Two changes in law that opened tax planning with a huge opportunity

  • Where can you grow your money tax-free as a long term holistic plan

Links and Resources:

  • “Scary Times” Success Manual of Dan Sullivan

  • RetirementPlanWebinar.com

  • AlzElderCare.com

  • castlewealthgroup.com

  • TheChrisBerryShow.com

  • Michiganestateplanning.com

  • Register for one of our free estate & asset protection workshops

Follow us on Social Media:

  • Twitter: www.twitter.com/ElderCareFirm

  • Facebook: www.facebook.com/chrisberryshow

  • LinkedIn: www.linkedin.com/in/christopherjberry

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How Much Do You Know About Medicare?

When planning for retirement, there are five key areas to focus on… income planning, investment planning, tax planning, legacy planning and healthcare planning. For many retirees, Medicare has a huge role in healthcare planning, and Medicare is what we will be talking about on today’s show.

In this episode, I’ll talk about the basics of Medicare, as well as supplements and why they’re important. We will also touch on coverage for prescription drugs and some of the important dates with Medicare.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • What Medicare parts A, B, C and D are
  • What is typically covered by the different parts of Medicare
  • Examples of what you may expect to pay out of pocket while covered by Medicare
  • About how Supplement plans can be useful
  • The enrollment periods and important dates for Medicare
  • The importance of picking the correct Medicare plans for your situation to minimize the costs
  • How investments and income can affect your Medicare premiums

Q&A

In each episode, I take questions from listeners. If you have any questions that you want answered, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Les asked: “My wife and I had wills prepared by an out of town law firm. Can these be included in a trust create by another law firm?”
  • Cheyenne asked: “I want to disinherit my children on my will, how can I do this?”

Links & Resources

AlzElderCare.com

castlewealthgroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Michigan Senior Resources

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Are You Ready for the SECURE Act?

The SECURE Act has changed key elements of retirement and estate planning, turning the whole industry on its head. Today's show focuses on the strategies that can be used in the post SECURE Act world to ensure you have a tax efficient retirement.

In this episode of The Chris Berry Show, I’ll talk about some of the biggest changes that are coming with the passing of the SECURE Act, and how we are here to help guide you along the way.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • How stretch IRAs are used.
  • What the new SECURE Act means for stretch IRAs.
  • New strategies for leaving retirement accounts to the next generation.
  • The new age for required minimum distributions.
  • The new requirements for paying taxes on inherited IRAs.
  • Why it’s more important now than ever to get an advisor who understands this law.
  • How Trust beneficiaries are affected by the SECURE Act.
  • How to manage Roth conversions under the new SECURE Act.
  • How the charitable strategy can be used under the new law.
  • What the SECURE Act means for life insurance.

Links & Resources

AlzElderCare.com

castlewealthgroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Michigan Senior Resources

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

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Did you know there is hope for those with Alzheimer's and dementia?

Over the last five years we have had amazing breakthroughs in Alzheimer's research. One example is the breakthroughs that have come just on the neural imaging front: We’ve found that the damage that is done to the brain, as this disease sets in, is pretty tough to reverse. But, if we can get in front of it and slow it, or stop its progression, that's where there is the most hope in the science and research.

In this episode of The Chris Berry Show, I’ll talk about the progress we are making in the fight against Alzheimer's and dementia with Jennifer Howard who is the executive director of The Alzheimer's Association.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • The difference between Alzheimer's and dementia.
  • Different forms of non-curable dementia that can affect you as you age.
  • Symptoms associated with Alzheimer's and dementia.
  • Signs and symptoms that indicate you should seek a medical diagnosis.
  • Tests that are administered during diagnosis.
  • What genetic tests can and cannot tell you about your risks.
  • Ways you can adapt your lifestyle to reduce your risks of getting Alzheimer's or dementia.
  • Resources and education available to those caring for or living with those with Alzheimer's or dementia.
  • How these diseases progress as we age.
  • Ways research is providing hope for those caring for or living with those with Alzheimer's or dementia.
  • The different ways you can get involved to make a difference.

Links & Resources

AlzElderCare.com

castlewealthgroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

alz.org

Alzheimer's Association phone number: 800-272-3900

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

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Are you prepared to avoid the most common pitfalls in retirement?

When it comes to retirement, there are some common mistakes that we see over and over again. Today we want to address those mistakes, and how to avoid them. From focusing on the wrong things to accepting less than you have to, we will cover how to have the most tax efficient and financially successful retirement possible.

In this episode of The Chris Berry Show, I’ll talk about the six most common mistakes that we see people making in retirement.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • Six common retirement mistakes.
  • The impact of the recent SECURE ACT that passed the House of Representatives.
  • A situation that is unfolding that could require retirees to pay additional premiums.
  • Why focusing on the wrong thing can upend your retirement.
  • Why sequence of return risk needs to be considered along with rate of return.
  • How truly understanding risk within the context of retirement is key to success.
  • All about the hidden fees that can eat away at your portfolio.
  • How tax diversification planning can save you money and headaches in retirement.
  • Why planning for the loss of a spouse is crucial to not derail your retirement.
  • The reasons tax planning can make or break your retirement.
  • The ramifications of not properly utilizing tax deferred accounts.
  • The ways to evaluate your investment vehicles, and their potential returns.

Links & Resources

AlzElderCare.com

castlewealthgroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

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Have you prepared for a tax-free retirement?

At the end of the day, there are four ways we can generate tax-free income in retirement. Why is this important? Because no one wants to pay more tax than they need to. Quite often when clients come into my office a majority of their wealth, if not almost all, is in qualified and pre-tax accounts.

In this episode of The Chris Berry Show, I’ll talk about how to craft a tax-free retirement, and how to avoid some of the worst scams that can deplete your nest egg.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • The ways you can maximize taxes with end of year tax planning.
  • The four sources of tax-free income in retirement.
  • How to use Roths to generate tax-free income.
  • How life insurance can become an asset account.
  • How to utilize a 529 plan to grow money tax free.
  • Why “Buy term and invest the rest” is an oversimplification.
  • Situations where Social Security can be tax-free income.
  • Retirement scams you need to be aware of.
  • How scammers are changing the old IRS scam with mailed letters.
  • How investment scams can devastate your retirement.
  • How trusts can protect you during retirement.

Links & Resources

AlzElderCare.com

castlewealthgroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

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Are you prepared for the possibility of a future that includes developing a disability?

In the elderly population between the ages of 65 and 74, approximately 20% of individuals have a disability. When you get to 75+, that more than doubles. By age 75, 49% of people have a disability. There are ways to plan for this, however, and there are people who specialize in helping those who have a disability.

In this episode of The Chris Berry Show, I’ll talk about the kind of help you should look for if you have a disability, and attorney Ashley Jacobson will share about how you can plan for a future that may include a disability.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • The 5 areas to consider for the second half of life.
  • The impact tax planning now can have later on in the future.
  • What kind of certifications you should look for in a lawyer if you have a disability.
  • Some common disabilities that people deal with as they age.
  • Why it’s so important to plan for long term disabilities.
  • The definition of a disability.
  • What constitutes to a major life function.
  • What disability documents are, and why they are so important.
  • The most important things to remember when speaking with a person with a disability.
  • The hidden struggles of those with invisible disabilities.
  • Some simple, yet creative, ways to accommodate those who have a disability.

Links & Resources

AlzElderCare.com

castlewealthgroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

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Do you know all the benefits a senior center can provide?

Senior centers, like the one in Hamburg, MI, are the very best thing that we can offer to combat loneliness. There's a lot of talk right now about how loneliness is now public health enemy number one. At senior centers, you can come and meet like-minded people, people who are in the same situations as you are. It gives you something to get you out of the house, and provides a place that's fun and engaging to go.

In this episode of The Chris Berry Show, I’ll talk about the amazing benefits of the Senior Center in Hamburg, Michigan with their director Julie Eddings.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • The first step to organizing your financial life.
  • What senior centers provide to their members.
  • What kind of activities are held at senior centers.
  • How senior centers benefit the overall community.
  • Why social activities are so important as you age.
  • How municipal transportation can collaborate with the senior center to help seniors.
  • How senior centers can collaborate to provide group outings.
  • Ways to help if you want to get involved.
  • Different educational programs provided by senior centers.

Q&A

In each episode, I take questions from listeners. If you have any questions that you want answered, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • "What's the difference between Medicare and Medicaid?"
  • "My mother needs a permanent nursing home. What assets can the nursing home take?"
  • "What is the advantage of a living trust versus a will?"

Links & Resources

AlzElderCare.com

castlewealthgroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Hamburg Senior Center

Julie’s phone number: (810) 222-1140

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

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Do you know how to navigate Medicare Enrollment?

Medicare can cause a lot of confusion, and since this is Medicare Annual Enrollment Period, we are focusing on how it fits into people's lives. Medicare is a federal insurance for medical services, divided into parts A and B. Part A covers the hospital services; Part B covers doctors, tests, etc.

In this episode of The Chris Berry Show, I’ll talk about the ins and outs of Medicare and Medicare enrollment with Patti Gibbons from Gibbons LLC.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • When you qualify for Medicare.
  • The different parts that make up Medicare.
  • What Medicare covers, and what it doesn’t cover.
  • Situations where you don’t need to enroll in Medicare.
  • How to avoid late enrollment penalties.
  • How filing for social security affects Medicare enrollment.
  • Situations where you need to disenroll from Medicare.
  • How to choose what Medicare plan is best for you.
  • When you should consider getting a supplemental plan.
  • Why it’s so important to see a Medicare specialist when choosing your plan.
  • The difference between Open Enrollment Period and Annual Enrollment Period.

Q&A

In each episode, I take questions from listeners. If you have any questions that you want answered, feel free to email us at askchris@thechrisberryshow.com.

Links & Resources

AlzElderCare.com

castlewealthgroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

GibbonsLLC.com

Patti's email: patti@gibbonsllc.com

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

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Do you know when to start taking social security benefits?

Social security is one of the important things that fits into the five ways that we help clients. We help clients in five different respects; We call this a retirement game plan, the five pillars of a retirement game plan. First would be income planning, and this is where social security fits into play, and how you are going to manage income in retirement. Because you're going to have an income gap where all of a sudden you retire and now you need to make sure that your income is matching your expenses.

In this episode of The Chris Berry Show, I’ll talk about some strategies for taking social security benefits at retirement, and how to handle 401k rollovers.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • The 5 pillars of a retirement game plan.
  • Tax efficient social security strategies.
  • How to get more information on social security benefits.
  • Why waiting to take social security can be so beneficial.
  • How to look at the full picture of retirement and social security, not just the numbers.
  • Important questions to ask yourself when you think it's time to retire.
  • How to weigh your goals for retirement.
  • Why you might want to roll over a 401k.
  • How a trust can work with an IRA.
  • What to do if you inherit an IRA.
  • How you can get a free report about rolling over your 401k.

Q&A

In each episode, I take questions from listeners. If you have any questions that you want answered, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • What considerations are important for people who have blended families?
  • What life changes would signal that we need to update our legal, financial, or tax planning?

Links & Resources

AlzElderCare.com

castlewealthgroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

MySocialSecurityNow.com

My401kRolloverNow.com

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

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Are you and your family prepared for the worst-case scenario?

Mark Howell was diagnosed with stage 4 melanoma and given weeks to live. His insurance coverage would not really cover much outside of their network, so it was very limiting. And, at the time, melanoma had very limiting treatment. Treatment options were very poor, and a 30-year-old male given weeks to live, and then with all the treatment options basically saying, "Hey, you know, best case scenario you might live nine months."

In this episode of The Chris Berry Show, I’ll talk with Mark Howell about the amazing things they are doing to help families face the worst case scenario at Fund A Life.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • How to best protect your family while planning for your future.
  • Suggested ages for children taking over their trusts.
  • What decisions you need to make on who will be responsible for what after your gone.
  • How to use tax-free growth financial assets to pay for your child’s education.
  • Insurance strategies to protect your family.
  • The ways communities are coming together to help those in need.
  • How to get involved with Fund A Life.
  • Creative ways to fundraise and give back to your community.
  • How a grassroots movement helped families in their most dire time of need.

Links & Resources

AlzElderCare.com

castlewealthgroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Fund A Life

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

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Do you know what to look for in a nursing home?

But a lot of people will ask, "How do I choose a nursing home and things like that?" We always say, "Choose one that is close to home, close to family, that as many people can visit as possible." After doing those things, if you're not getting answers from the nursing home about what's going on, and you're not satisfied, and you still have concerns, that's when you want to take additional steps like contacting an ombudsman or contacting the state of Michigan or even contacting a lawyer...

In this episode of The Chris Berry Show, we’ll talk about how to find the best long-term care facility for your loved ones with Donna McKenzie from Nursing Home Lawyers.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • How a long-term ombudsman can help with long term care.
  • When it’s time to reach out to an attorney about your loved ones in long term care.
  • How to reach the state if you are in need of assistance.
  • How to go about getting answers from long term care facilities.
  • The most common injuries that occur at nursing homes.
  • When to pursue a lawsuit against a nursing home.
  • How negligence can lead to increased morbidity.
  • The different types of nursing home facilities to choose from.
  • About the nursing home rating system used to gauge different facilities.

Links & Resources

AlzElderCare.com

castlewealthgroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Nursing Home Lawyers

Donna’s phone number: (248) 591-2300

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

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Are you exercising the right way as you age?

You may work out or go to the gym, but are you exercising in a way that will benefit you as you age? There are unorthodox ways of staying active, that can help you do the little things later in life that make a big difference in your quality of life.

In this episode of The Chris Berry Show, I’ll talk about some of these functional exercises with Cody Tustin from Unorthodox Fitness.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • What upper crossed syndrome is, and what exercises can help counteract it.
  • Why strength training becomes more important as you age.
  • Ways to protect yourself from throwing your back out.
  • The benefits of using a battle rope.
  • How to get off the couch and get started with unorthodox exercises.
  • Examples of how the squat is one of the most functional exercises to practice.
  • How to incorporate endurance and flexibility training with strength training.
  • The ways strength training can prevent balance issues later in life.
  • How to do a proper squat.
  • Examples of ankle mobility and strength training.
  • Common activities that strength training will help you do as you age.
  • How diet needs to be customized for each individual and their goals.

Q&A

In each episode, I take questions from listeners. If you have any questions that you want answered, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Jake asked: "Should I build an emergency fund, or pay off my debt?"
  • Colleen asked: "My husband passed away before his mother, he was named in the will. Will my children be able to claim his share, because mom is now passing away? And he is dead, will my sons receive his shares as legal sons?"
  • Bob asked: "In three years, my wife and I will be 66 and entitled to claim social security. We have IRAs valued at 1 million. How can we reduce income tax on our IRAs during retirement?"
  • Howard asked: "How can my friend transfer his house to his daughter, before he has to go into a nursing home? And will Medicaid get it?"

Links & Resources

AlzElderCare.com

castlewealthgroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Unorthodoxfitness.com

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

View Details

Are you prepared for long-term care of a loved one who has been diagnosed with Alzheimer's?

The most important thing for dealing with an Alzheimer's diagnosis in either you or a loved one is having a well drafted power of attorney to cover financial decisions. Make sure it includes expanded powers instead of just having a vague power of attorney. The second most important document is a medical power of attorney with end of life plans. The final is a personal care plan to describe long term care.

In this episode of The Chris Berry Show, I’ll talk about the latest in Alzheimer's research with Dr. Bruno, from the Alzheimer's Center at U of M.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • Legal strategies if you or a loved one have been diagnosed with Alzheimer's. Steps you should consider, and what you should look at doing.
  • What is going on in the world of Alzheimer's research, supports, and treatment.
  • How you can get involved with raising awareness for Alzheimer's with The Walk To End Alzheimer's.
  • The three key disability documents.
  • Why expanded powers are so important in the drafting of a Power of Attorney.
  • How personal care plans enhance your medical and financial Power of Attorney documents.
  • How a castle trust can help prepare you to legally protect yourself during long term care.
  • What kind of financial tools you can use to provide income for the rest of your life.
  • What the difference is between Alzheimer's and Dementia.
  • Where the name Alzheimer's comes from.
  • What the characteristic signs are in the brain of Alzheimer's.
  • How new imaging technologies have revolutionized how scientists are studying Alzheimer's.
  • The future of blood-based biomarkers and early diagnosis.
  • The ways to reduce your risk for Alzheimer's.
  • How the microbiome in your gut can influence your brain.

Links & Resources

AlzElderCare.com

Castlewealthgroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

View Details

Do you know what makes up a sound investment plan?

There are five pieces to any sound retirement plan – one of which I’ll dive into today. A retirement plan must consist of an investment strategy that takes your risk tolerance and risk capacity into consideration. With this risk score, a true fiduciary will create a custom investment plans that suits your needs and goals.

In this episode of The Chris Berry Show, I’ll share the components of the “Risk Pyramid” and the two styles of managing assets and investments. Marti Coplai from Angela Hospice will also be on the show to teach us about what they offer and who may be a good fit.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • The 5 pieces to any sound retirement plan.
  • The first piece: An income plan to preserve and distribute your money.
  • The second piece: A sound investment plan.
  • The final pieces: Having a tax, healthcare, and legacy plan.
  • About the “Risk Pyramid” and its different parts.
  • How we calculate risk tolerance and risk capacity with a risk score.
  • Why it’s important to understand fees and expense ratios.
  • About long-term capital gains.
  • The two styles of managing assets and investments – and the pros and cons of each.
  • About suitability versus a true fiduciary.
  • How to start building your retirement plan.
  • About our upcoming workshops.

Q&A

In each episode, I take questions from listeners. If you have any questions that you want answered, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Betty asked: “Will my family have to pay my estates taxes when I die?”
  • Ben asked: “Is an annuity appropriate for me? I have no pension otherwise.”
  • William asked: “What are some good and safe options to place investment funds if I want to make more than the bank interest rates while I’m holding the funds in cash?”
  • Richard asked: “Can I sell all the holding in my IRA and keep all the cash in my IRA account without tax consequences?”
  • Mike asked: “Can I hold individual stocks in my living trust? If so, how do I retitle ownership of a currently owned stock into my trust without triggering any taxable event?”

Links & Resources

AlzElderCare.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

View Details

Do you know the recent news about the Secure Act?

You should, because it has ramifications when planning your finances for the second half of life. The Secure Act is a bit of a Trojan horse, in my opinion, so it’s important to understand it clearly and receive tax and financial advice from reputable sources when making the necessary changes to your long-tern financial plan.

In this episode of The Chris Berry Show, I’ll talk about the Secure Act and some alternative strategies to maximize your retirement dollars.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • About the Secure Act and how it will affect you.
  • What it means when the required minimum distributions are pushed back.
  • The creative planning we can do as it relates to tax-deferred accounts.
  • What we talk about in our workshops.
  • What the Secure Act is allowing within employer-sponsored plans.
  • Why it’s important to make sure you’re getting good advice.
  • How the bill limits the stretch of IRAs for future generations (and why this is a bad thing).
  • The ramifications that this new bill has when planning finances.
  • How to act with the Secure Act in place.
  • Alternative strategies to maximize retirement dollars.
  • Why you should pay taxes sooner rather than later.
  • The five plans you need in the second half of life and why tax planning doesn’t just mean filing.
  • Why you should explore the Roth 401K.
  • How to use an Index Universal life insurance to protect money within an asset protection trust.
  • About the growing costs of long-term care and healthcare.

Links & Resources

AlzElderCare.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

View Details

What are the steps of a long-term care journey? Who can help?

Lynn Breuer of ElderCare Solutions in Michigan knows all about how an Elder Care Manager can help you or your loved ones. She understands that alongside the financial planning component of aging comes care planning as well.

In this episode of The Chris Berry Show, I’ll talk about the strategies to pay for long-term care, and Lynn Breuer will discuss care solutions for every step of the journey in the second half of life.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • The different levels of care on the care continuum.
  • How to handle the next steps and pay for the different levels of care.
  • How to determine which level of care is right for you or your loved one.
  • The strategies to pay for long-term care.
  • How a castle trust can help when planning ahead.
  • About asset-based long term care strategies.
  • Some crisis-planning ways to protect your resources, like the “half-loaf” plan.
  • Why elderly people may need to move from their home.
  • Why it’s important to get the correct level of care the first time.
  • The four different levels of care and who they’re geared towards.
  • The varying costs for each level of care.
  • The next steps to take if looking for long-term care and the challenges seniors face.
  • How Lynn would help her clients and how families are involved.

Links & Resources

AlzElderCare.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

ElderCare Solutions of Michigan

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

View Details

Are you interested in growing the amount of income you get each month from Social Security?

Likely your answer is yes. To do this, you need to be as tax-efficient as possible in retirement. Income gaps can be covered with tax-deferred accounts and – with proper planning – you can structure your assets so you have a dependable income stream. Depending on your situation, you may be able to delay taking social security, for example, and utilize assets to cover any income gaps.

In this episode of The Chris Berry Show, I’ll talk about the taxation of Social Security and the best strategies you can implement to be tax-efficient in retirement.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • About our upcoming workshops and what they’ll offer.
  • Social Security benefit options and timing.
  • How to structure your assets so you have income to cover expenses.
  • What can happen if you make the wrong Social Security decisions.
  • The biggest concerns with Social Security.
  • How to cover income gaps with tax-deferred accounts.
  • How to be tax-efficient in retirement.
  • Why you shouldn’t simply defer all taxes.
  • How working impacts your Social Security benefits.
  • About reductions and limits on Social Security.
  • What defines provisional income and how it works.
  • The taxation of social security and the best strategies to maximize it.
  • Why it makes sense to pay taxes sooner rather than later.

Links & Resources

AlzElderCare.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

View Details

What are the six common retirement mistakes? Are you – or your loved ones – making them?

There’s a lot to consider when mapping out your retirement plan. Aside from having enough income so you’re supported, you want to maximize the money that you’ve earned, protect it, and even make it grow. By focusing on the right things, understanding risk, considering hidden costs, and having tax diversification, you ensure a smooth retirement.

In this episode of The Chris Berry Show, I’ll talk about the Secure Act and the six most common retirement mistakes to avoid.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • What the Secure Act is and what it does.
  • About inheriting an IRA and taking out RMDs.
  • The processing error Social Security made and how it might impact you.
  • Retirement mistake #1: Focusing on the wrong thing.
  • Why Social Security was meant to be a longevity hedge.
  • The old and new retirement paradigm.
  • About the sequence of return risk and creating an income strategy.
  • Retirement mistake #2: Misunderstanding risk.
  • About mutual fund fees and how they eat away at your returns.
  • Retirement mistake #3: Misunderstanding the hidden costs in your investments.
  • Retirement mistake #4: A lack of tax diversification.
  • Retirement mistake #5: Only looking at tax prep and not doing tax planning.
  • The three types of tax classification.
  • Retirement mistake #6: Accepting low returns.

Links & Resources

AlzElderCare.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

View Details

Are you – or your loved ones – asking, “What about the house?”

It’s important to consider your home an asset that needs protection. After all, certain decisions can change it from being an exempt asset to a countable asset, and this can greatly impact your financial strain when it comes to long-term care. With things like castle trusts, you can make sure your home is protected while you maximize Medicaid benefits.

In this episode of The Chris Berry Show, I’ll talk about protecting your real estate through preparation and trusts, and Tracy Wick will share how she helps her clients sell their home and transition to their next step.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • How Medicaid can pay for nursing home care.
  • How a home goes from being an exempt asset to a countable asset.
  • When a castle trust may be a good idea.
  • When to set up an asset protection trust.
  • The things to understand about probate and writing your own rulebook.
  • How Tracy Wick helps people sell their homes to fund their next step.
  • Some of the challenges she encounters when selling senior’s homes.
  • Why people need a professional to help with the process.
  • What Tracy does for families that are not local who need to sell a home.
  • What Tracy recommends to protect assets from vandalism or theft.
  • How to improve a property’s value when you’re getting ready to sell.
  • A resource for selling everything but the house.
  • What Tracy thinks of the current market.
  • The checklists Tracy uses to assess a property.

Links & Resources

AlzElderCare.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Everything But The House

Tracy Wick’s Website

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

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What are your short and long-term financial goals?

For an 8-year-old, a long-term goal may be the purchase of an exotic car, but perhaps you’d like to ensure a covered income gap, make sure your money outlives you, or leave a legacy for your family. To do this, it’s important to make sure your buckets are filled and accounted for so you enjoy a sound retirement. Another important component to preserving and distributing your assets includes an understanding of the different types of deeds and ownerships.

In this episode of The Chris Berry Show, I’ll talk about creating a guaranteed income strategy with a bucket plan and the different types of ownership and deeds.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • What it means to be in the accumulation, preservation, and distribution stages.
  • How to manage your bucket plan.
  • What goes in the “now,” “soon,” or “later” bucket.
  • How to cover an income gap after employment but before age 70.
  • Why, with a guaranteed income, investments can be more aggressive.
  • The five key components to a sound retirement.
  • Some information about real estate and the different types of deeds and ownership.
  • The difference between a quit claim deed and a warranty deed.
  • How to avoid issues at the Tax Assessor’s Office.
  • Why we use Ladybird Deeds and why they don’t always go into a trust.
  • The different types of joint ownership.
  • What type of deed I don’t recommend.

Q&A

In each episode, I take questions from listeners. If you have any questions that you want answered, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Brad asked: “How can I move my IRA into a Roth inside of my trust?”
  • Debbie asked: “Is there a written formula to manually calculate how much a person can convert from an IRA to a Roth IRA while staying in a current tax bracket?”

Links & Resources

AlzElderCare.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

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Today’s show is about rollover options and protecting your cognitive health.

There are six options to consider when rolling over your qualified account and a few things to remember before doing so. You can do an IRA rollover, leave it in the company plan, roll it into a the new company’s plan, do a lump-sum distribution, or do a Roth conversion or an in-plan Roth conversion.

In this episode of The Chris Berry Show, I’ll talk about the six rollover options you have, and Lynn Breuer will share about Mind University and some ways to protect your cognitive health as you age.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • When to do a rollover in a qualified account and the six options you have.
  • The first option and its advantages: The IRA rollover.
  • The second option and its advantages: Leave it in the company plan.
  • The third option: Roll old plans into the new company’s plan.
  • The fourth option: Do a lump sum distribution.
  • The fifth option: Do A Roth conversion.
  • The sixth option: An in-plan Roth conversion.
  • What to consider when assessing your rollover options.
  • About Mind University, a cognitive wellness initiative.
  • About normal age-related cognitive changes.
  • The things we can do to fight against cognitive decline and maximize neuroplasticity.
  • How to expand the life of your stem cells and manage stress.
  • The healthy lifestyle factors that’ll protect our brain.
  • What mind aerobics exercises can do for you long-term.
  • The six domains of the brain that are addressed in the mind aerobics classes.

Links & Resources

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Mind University & Phone Number: (248)788-MIND

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

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What will your – or your loved one’s – elder care journey look like?

It’s better to be educated and prepared than realize what you need when it’s too late. There are three primary ways to utilize long-term health insurance to pay for long-term care and strategic ways to leverage IRA money and assets so your hard-earned money is protected and able to outlive you.

In this episode of The Chris Berry Show, I’ll talk about long-term care strategies and Mayor Sharp will discuss what sets SKLD apart and what exciting innovations are on the horizon to better support elders.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • What to expect in the elder care journey.
  • Three ways to utilize long-term health insurance to pay for long-term care.
  • Forms of long-term care insurance and some of their pros and cons.
  • How to leveraging IRA money using an asset-based long-term care strategy.
  • How to qualify for asset-based long-term care benefits.
  • About “wellness riders” and doubling income to address assistance for daily living expenses.
  • Why Mayor has created a culture within the Skilled Senior Nursing facilities.
  • When to look for a nursing home for care and what sets SKLD apart.
  • Innovations in call-light systems and wearable tech that benefit patients and staff.
  • The technology being used for rehabbing programs.

Q&A

In each episode, I take questions from listeners. If you have any questions that you want answered, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Simon asked: “How do I put my paid-off property into a trust?”
  • Another listener asked: “My mother has dementia, will her estate planning attorney answer my questions about the successor trustee and financial power of attorney?”
  • Sandy asked: “How do I get a POA for my mother who passed away? Her previous POA was my sister and she, too, has passed.”
  • Rick asked: “I wish to consolidate 5 mutual funds that are currently in my trust into IRAs to reduce work for my trustees upon my death. How should I do this?”
  • Catherine asked: “I’m a single mom with two minors. Who should I name as the beneficiary of my retirement account?”

Links & Resources

AlzElderCare.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

SKLD Website

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

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Are you protected against long-term care costs?

Just because you’ve worked with an advisor or attorney doesn’t mean your long-term care costs have been considered as part of your holistic retirement plan. Asset-based long-term care strategies and companies like Michigan Senior Services can help the transition into long-term care so it doesn’t devastate you or your family.

In this episode of The Chris Berry Show, I’ll talk about some not-so-common long-term care options to consider and Loyce Ross will share about Michigan Senior Resources.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • Some long-term care options that are oftentimes overlooked.
  • Plan-ahead approaches to protect assets against nursing home costs.
  • Asset-based long-term care strategies and death benefits.
  • How to utilize pre-tax dollars to plan ahead.
  • How to turn IRA money into an income stream.
  • An example that illustrates our strategy.
  • About Michigan Senior Resources and what they do.
  • The services that an eldercare advisor provides.
  • The difference between independent care, assisted living, and everything in between.
  • How Michigan Senior Services supports their clients through the process.
  • How Michigan Senior Services provides their service for free.
  • About group homes, communities, and how Loyce selects a location.

Q&A

In each episode, I take questions from listeners. If you have any questions that you want answered, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Don asked: “Where should I invest my social security money to save on taxes?”
  • Vance asked: “Can a nursing home or Medicaid take away my home or land that my parents gave me?”

Links & Resources

AlzElderCare.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Michigan Senior Resources

Loyce’s phone number: (734)765-5312 email: loyce@mi-seniorresources.com

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

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Do you have a well-rounded retirement plan?

There are five pillars of a sound retirement plan: legacy, income, investment, tax, and healthcare. It’s important to have each of these pillars in place – especially when you near retirement. These pillars ensure that you create your own rulebook, ensure a consistent income for the rest of your life, invest in a way that matches your risk tolerance, implement a comprehensive tax strategy, and a plan for long-term care.

In this episode of The Chris Berry Show, I’ll explain the 5 pillars of a sound retirement plan and how to build each one.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • The 5 pillars of a sound retirement plan.
  • About legacy planning and “creating your own rulebook”.
  • Why an estate plan guides the rest of the other pillars.
  • The four ways assets transfer out of your name upon death and how to protect them.
  • About income planning and making sure you have enough income per month.
  • How to build a bucket plan that includes now, within the next 10 years, and later.
  • How to maximize your social security and protect any surviving spouse.
  • How to manage volatility and protect your income from an unpredictable market.
  • About where investment and tax planning fit into a sound retirement plan.
  • How we assess risk tolerance and adjust portfolios to reduce fees.
  • The order of money and how it fits into your retirement tax plan.
  • About the importance of healthcare planning.
  • How we set up a long-term care plan that doesn’t risk assets and leverages them.
  • How to use assets as an income stream in the event of a crisis or unexpected diagnosis.

Q&A

In each episode, I take questions from listeners. If you have any questions that you want answered, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Bernie asked: “if a person has a power of attorney for someone who is still right-in-mind, does the power of attorney inherit the debts of that person?”
  • Rose: “What is the best investment strategy for money that I’ve invested in stocks for my children’s college payments?”
  • Scott asked: “How do I set up a trust for my adult children using IRA funds?”
  • Rob asked: “Should my wife and I put her extra $600 a month towards paying off her vehicle on which we owe $10,000 at 0% or open a Roth IRA?”

Links & Resources

AlzElderCare.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

The Bucket Plan Book

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

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Let’s talk money.

There are four types of money: free (the best kind!), tax-free, taxable, and tax-deferred. It’s important to know these different types of money because you want to have tax diversification – especially when you near retirement. Some people realize too late that all their money is in tax-deferred accounts, then they must pay income tax on those accounts when they reach 70.5 years old. That’s what we call a Retirement Savings Tax Time Bomb.

In this episode of The Chris Berry Show, I’ll talk about the order of money, tax diversification, and trusts.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • The four categories of the order of money.
  • What consists of “free money” and how to take advantage of it.
  • The difference between a 401K and a Roth 401K.
  • What money is tax-free and how to use it.
  • How an index universal life insurance policy can double as an investment vehicle.
  • What consists of “taxable money”.
  • What consists as “tax-deferred money”.
  • Tax diversification.
  • Why tax diversification is important when nearing retirement.
  • The maximum tax possible in tax-deferred and taxable accounts.
  • How different asset classes are invested.
  • How to create your own rulebook with trusts.
  • How assets can be titled in a trust.
  • How the types of money fit into a trust.
  • How to stretch out required minimum distributions.
  • Why you would roll a 401K into an IRA.

Q&A

In each episode, I take questions from listeners. If you have any questions that you want answered, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Bob asked: “My attorney is not a Certified Elder Law Attorney. What is the difference and why does that matter when I’m helping my parents plan for the estate?”

Links & Resources

AlzElderCare.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

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It’s never too early to start saving.

By keeping track of some important retirement saving milestones, you can make sure you’re on track to make your money last at least as long as you do. Anyone can start saving as soon as they’re making money (a taxable compensation) – even a 15-year-old scooping ice cream part-time! From birth to retirement, there are a century’s-worth of milestones to track so you can grow and protect your pot ‘o gold.

In this episode of The Chris Berry Show, I’ll talk about some important retirement savings milestones and review a century of planning.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • The milestones in your retirement savings plan.
  • When to start saving and what kind of account to open.
  • What happens if you take money out of a retirement account before age 59.5.
  • About “catch-up contributions” if you’re age 50 or over.
  • When to take distributions without penalty and where there’s flexibility.
  • About the “IRA sweet spot” and strategic tax planning.
  • About qualified plans that offer early distribution policies.
  • What “bracket bumping” means.
  • Why everyone should look at “bracket bumping” while tax rates are at historic lows.
  • When to must take out required minimum distributions.
  • When to make “Qualified Charitable Distributions”.
  • The different age milestones and what they mean.

Q&A

In each episode, I take questions from listeners. If you have any questions that you want answered, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Dave asked: “I moved mom with dementia from Florida to Michigan. How do I sell her condo for her care in assisted living? The condo is supposed to go to her granddaughter.”
  • Brett asked: “I took out half of my 401K and put it into a 5-year annuity which will be coming due in April 2020. Can I put it back into an IRA with no charge and then pay the taxes on the amount and convert it to a Roth? I was told I couldn’t go directly from an annuity to a Roth.”
  • Andrew asked: “Do I have to do a will in both countries if I have dual citizenship? I have significant assets in Canada and the U.S.”
  • Steve asked: “What should I do with my 401K after I retire? Should I leave it and roll it over later, or are there better investment options?”

Links & Resources

AlzElderCare.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Angela Hospice

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

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What’s the difference between Medicare and Medicaid?

Medicare is complicated – which is why we work with a Medicare specialist when our clients need Medicare support. But once you understand the difference between Medicare and Medicaid, you’ll at least be able to navigate between the two accordingly depending on what you need. Put simply, Medicare is an age-based federal program that guarantees coverage and Medicaid is a public assistance program where qualification is based on need.

In this episode of The Chris Berry Show, I’ll clarify the difference between Medicare and Medicaid and explain how things like hospice are paid. Marti Coplai from Angela Hospice will also be on the show to teach us about what they offer and who may be a good fit.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • The difference between Medicaid and Medicare.
  • The qualifications for Medicare and Medicaid.
  • How Medicaid pays for long-term care costs both in and out of the home.
  • About the My (Michigan) Choice Waiver Program.
  • How to get a copy of “The Caregiver’s Legal Guide to Planning for a Loved one with Chronic Illness.”
  • How Medicare will pay for hospice but not long-term care.
  • What happens when Medicare runs out.
  • About Medicaid’s asset test, what is defined as a countable asset, and how to protect resources.
  • About hospice care and who it’s for.
  • What Marti does for Angela Hospice and how she got involved.
  • How they support patients and families through the end-of-life experience.
  • The benefits of getting hospice care sooner rather than later.
  • Where people can receive hospice.
  • The services, programs, therapies, and future of Angela Hospice.

Q&A

In each episode, I take questions from listeners. If you have any questions that you want answered, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Tom asked: “My brother is on my dad’s deed as the owner of the house. However, I have read the will and it clearly states everything is 50/50. My brother wants to stay in the house, so does that mean I end up with nothing?”
  • Cassie asked: “What type of documents do I need to state who I want to take care of my child if I die?”
  • Hank asked: “My dad retired in 2012 then died in 2015. My mom began receiving his retirement benefits in 2016 then died in 2018. Will I be able to receive those benefits?”

Links & Resources

AlzElderCare.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Angela Hospice

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

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Do you know everything you need to know about social security?

Many people fear negative change to social security benefits in the future. There’s also the resounding opinion that it could be run better (like any government agency, I’d venture to say). While we can’t say for certain that there won’t be any changes to social security, we can implement tax-saving strategies and secure funds in other ways now to make sure you retire comfortably regardless of whatever changes are made. Luckily, social security isn’t going bankrupt and probably isn’t being reformed any time soon.

In this episode of The Chris Berry Show, I’ll share the top 12 things you need to know about social security. Our guest Allison Murphy will also discuss Fox Run, a continuing care retirement community.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • How to get a copy of “The Baby Boomer’s Guide to Social Security.”
  • Why social security isn’t going bankrupt and why it was created.
  • Why congress won’t take up social security reform any time soon.
  • The difference between taking money and borrowing from social security.
  • How wait times have increased and how social security is taxed.
  • Why social security isn’t meant to be your sole source of income in retirement.
  • Why social security isn’t keeping up with the times and how you can still work and collect.
  • The digitization of social security and how it isn’t just a retirement program.
  • How most people get more back from social security than they put in.
  • About Fox Run, what they offer, and who they serve.
  • Why Fox Run can be a home for life so that there’s no worry of needing to move.
  • The cost of Fox Run, why they’re unique, and how to pay for it.
  • The healthcare and amenities at Fox Run.
  • Fox Run’s plans.

Q&A

In each episode, I take questions from listeners. If you have any questions that you want answered, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Jean asked: “What options do I have for money other than CDs? I want to save, but not put in the market. Are there any alternatives?”
  • Larry asked: “Should we get permanent life insurance?”
  • Alex asked: “My wife and I have wills prepared by an out-of-town law firm. Can they just be included in a trust by another law firm? We have existing wills but want to explore setting up a trust. Can they be used or will they need to be recreated?”
  • Evan asked: “What are the steps to prepare a will? What’s the difference between a will and a trust? Are wills legally-binding?”

Links & Resources

AlzElderCare.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Fox Run

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

View Details

We’re living longer than ever. And more and more people are experiencing the cost of long-term care.

The reality is that most of us will need some form of long-term care as we go through the aging process. In fact, statistics show that 1 in 2 of us will need a nursing home at some point in our lives. And that’s expensive. With a castle trust and asset-based long-term care funds, you can shelter assets so that all your money lasts at least as long as you do.

In this episode of The Chris Berry Show, I’ll talk about how to keep the wealth you’ve built and protect it from long-term care costs, and Lauren will discuss the latest Alzheimer’s news and how to get involved in Alzheimer’s advocacy.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • How specialized trusts work differently than revocable trusts.
  • Why long-term care preparation is more critical than ever.
  • Some Alzheimer’s news, advocacy, public policy, and bills.
  • Where Alzheimer’s stands on the “Common Causes of Death” list.
  • How to allocate asset-based long term care funds.
  • How legal planning and trusts shelter assets from the government or nursing home.
  • About the irrevocable castle trust and how it’s set up to protect against long-term care costs.
  • How a castle trust is still flexible.
  • The strategy behind a castle trust so Medicaid can assist with long-term care costs.
  • What to do about long-term care if one partner needs care and the other doesn’t.
  • Lauren’s experience with Alzheimer’s, advocacy work, and involvement with the Alzheimer’s Association.
  • Some symptoms of Alzheimer’s.
  • The negative hospice experience Lauren’s grandmother experienced.
  • About the Bold Alzheimer’s Act and PCHETA Act.
  • How to get involved with Alzheimer’s advocacy.

Q&A

In each episode, I take questions from listeners. If you have any questions that you want answered, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Jackson asked: “As a power of attorney or medical power of attorney, what am I allowed to charge?”
  • Larry asked: “How do I do an informal probate in Michigan?”
  • Shelby asked: “How do most people handle pet trusts?”

Links & Resources

AlzElderCare.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Alz.Org

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

View Details

Are you legally and financially prepared to handle you – or your loved one’s – dementia or Alzheimer’s?

A dementia or Alzheimer’s diagnosis can be tough, but don’t let legal and financial difficulties make it harder than it already is. With the proper disability documents in place – and proper planning – your loved one can have the best possible quality of life after their diagnosis. Although there are some crisis-planning strategies we offer, it’s always best to plan ahead.

In this episode of The Chris Berry Show, I’ll talk about the three main disability documents every elder should have, the benefits of a castle trust, and when asset-based long-term insurance may be a good fit.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • About the National Alliance of Attorneys for Alzheimer’s planning.
  • About the Alzheimer’s Association and how we’re involved.
  • How to legally and financially plan for Alzheimer’s or dementia.
  • The steps to take after a dementia or Alzheimer’s diagnosis.
  • The benefit of having disability documents.
  • Things you can do prior to a diagnosis to prepare.
  • About my book “A Caregiver’s Legal Guide to Planning for a Loved One with Chronic Illness”.
  • How to create your own rulebook instead of using the state’s rulebook.
  • The importance of a financial power of attorney document.
  • The importance of a medical power of attorney document.
  • Why everyone needs a Personal Care Plan.
  • How to ensure your loved one has the best quality of life possible after diagnosis.
  • How to pay for the long-term care journey and how a castle trust can help.
  • Forms of long-term care insurance including asset-based long-term insurance.
  • Some crisis-planning strategies.

Q&A

In each episode, I take questions from listeners. If you have any questions that you want answered, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Jake asked: “I’m 62 and planning on retiring at age 70 and collecting social security at that time. My equity allocation is under 20%. I’m planning on adding with dollar cost averaging $10-12,000 a year for the next 8 years in the following: growth funds, international funds, stock market, and balance funds. I have 3-years’ worth of living expenses in cash. This would bring my allocation up to 25% at equities. Is this a good plan to meet long-term growth goals for retirement?”
  • Tim asked: “My father died and had no other assets other than a life insurance policy for about $10,000. He had a naming all three kids as beneficiaries. Does the life insurance go to the youngest brother who is named as the beneficiary of the life insurance, or does the will control where the assets go?”

Links & Resources

AlzElderCare.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

View Details

It’s not enough to know that you’ll avoid probate after death.

That’s the big difference between estate planning and the holistic legal, financial, and tax planning approach that we take at our elder law firm. With a Personal Care Plan in place, you can make sure that you – or your loved one – age gracefully and comfortably both financially and personally. To further help with that, there are services like Visiting Physicians that visit patients in the comfort of their home or living facility.

In this episode of The Chris Berry Show, I’ll talk about the difference between estate planning and elder law, and Imani Wilson will discuss Visiting Physicians and how they may be a good for you or your loved one.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • A recent client experience at a clarity-building workshop.
  • The difference between estate planning and elder law.
  • Why you – and your loved ones – need a holistic legal, financial, and tax plan.
  • About a personal care plan and why it’s important.
  • The difference between a power of attorney and a Personal Care Plan.
  • The things that can be included in your Personal Care Plan.
  • When asset protection-based plans make sense.
  • The benefits of a Castle trust.
  • About Visiting Physicians and when they’d be a good fit.
  • The clients that Visiting Physicians serve.
  • The services that Visiting Physicians offer.
  • How someone would qualify and pay for Visiting Physicians.
  • How far they can travel, which insurances they accept, and how to reach out to them.

Q&A

In each episode, I take questions from listeners. If you have any questions that you want answered, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Elizabeth asked: “Who should I name as the beneficiary of my IRA or 401K? Should it be my trust or my kids after my spouse?”
  • Sheri asked: “What’s the difference between a revocable and an irrevocable trust?”
  • Melanie asked: “Can I have a will if my husband doesn’t want one?”
  • Bob asked: “Can my brother, the named executor, take everything in the bank account? My father recently passed and made my brother and I a bank account trustee.”

Links & Resources

AlzElderCare.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Visiting Physician Website

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

View Details

Leaving a legacy isn’t just about financial assets or material wealth.

It’s about how people remember you when you’re gone. And luckily, with proper planning, you can control the legacy you choose to leave behind. Death can have devastating effects on the surviving spouse, and can leave a mess for your beneficiaries, so it’s important to get your ducks in a row before you go.

In this episode of The Chris Berry Show, I’ll talk about how to leave a legacy of your choosing so your surviving spouse and loved ones can remember you – not the mess you left behind.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • More about leaving a legacy.
  • How to leave a legacy of your choice.
  • How to keep the government out of your legacy.
  • What happens to Social Security or pensions when one spouse passes away.
  • The effects death has on the surviving spouse.
  • Where tax planning, life insurance, and income annuity fits in.
  • Retirement planning that takes one spouse’s death into consideration.
  • About the estate planning documents you need.
  • Why it’s important to review your beneficiary designations and know where your documents are.
  • The impact of the loss of a spouse.
  • The importance of discussing spousal protection.
  • The four ways assets pass out of your name when you pass away.
  • How families avoid probate with trusts.
  • About a Legacy Inheritance Trust.

Q&A

In each episode, I take questions from listeners. If you have any questions that you want answered, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Pat asked: “As a married couple, for the Michigan Choice Waiver Program, do they look at income and assets of both spouses if only one spouse needs care?”
  • Bob asked: “Who will get my mom’s husband’s house after he passes away?”
  • Trent asked: “Do I owe taxes on property that was gifted to me when I sell the home?”
  • Sean asked: “How do I start growing a nest egg for retirement with very little savings?”

Links & Resources

AlzElderCare.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

View Details

Have you heard about the Michigan Choice Waiver Program?

Well, it may just be the perfect thing for you or your loved one. Jenny Jarvis from our local Area Agency on Aging is joining us on the show today to discuss the program and how to qualify. It’s has a pretty long waitlist, but those who qualify enjoy the program for as long as they need it and qualify.

In this episode of The Chris Berry Show, we’ll talk about the Area Agency on Aging, the Michigan Choice Waiver Program, and the services they provide that can help you on your Elder Care journey.

In this episode, you’ll learn...

  • Chris’ positive focuses for the week.
  • About the Michigan Choice Waiver Program.
  • Who the program is for.
  • About the program’s waitlist and qualification requirements.
  • How the program is an alternative to Medicaid and a nursing home.
  • The financial qualifications for the program.
  • About the income and asset tests.
  • What to expect from the in-home assessment.
  • How to join one of our upcoming clarity-building workshops.
  • About asset-based long-term care and the Pension Protection Act.
  • About the Area Agency on Aging and Jenny Jarvis’ background.
  • What services the program provides.
  • The steps you’d take to become a part of the program.
  • What you’ll need to know before making the call.
  • How long it’ll take to join the program.
  • About redetermination checks and how an inheritance could affect eligibility.

Q&A

In each episode, I take questions from listeners. If you have any questions that you want answered, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Dennis asked: “How do we determine which financial firm is best for managing our money?”
  • Cody asked: “Should I increase my monthly percentage into my Roth 401K for the remainder of the year?”
  • Laura asked: “Does my dad automatically have power of attorney over my mom since she has dementia? How do I go about getting power of attorney to have her moved so she can be in a nursing home closer to me?”

Links & Resources

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Michigan Choice Waiver Program Information

Michigan Medicaid Nursing Facility Level of Care Determination Information

Area Agency on Aging

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

View Details

Leaving a legacy isn’t just about financial assets or material wealth.

It’s about how people remember you when you’re gone. And luckily, with proper planning, you can control the legacy you choose to leave behind. Death can have devastating effects on the surviving spouse, and can leave a mess for your beneficiaries, so it’s important to get your ducks in a row before you go.

In this episode of The Chris Berry Show, I’ll talk about how to leave a legacy of your choosing so your surviving spouse and loved ones can remember you – not the mess you left behind.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • More about leaving a legacy.
  • How to leave a legacy of your choice.
  • How to keep the government out of your legacy.
  • What happens to Social Security or pensions when one spouse passes away.
  • The effects death has on the surviving spouse.
  • Where tax planning, life insurance, and income annuity fits in.
  • Retirement planning that takes one spouse’s death into consideration.
  • About the estate planning documents you need.
  • Why it’s important to review your beneficiary designations and know where your documents are.
  • The impact of the loss of a spouse.
  • The importance of discussing spousal protection.
  • The four ways assets pass out of your name when you pass away.
  • How families avoid probate with trusts.
  • About a Legacy Inheritance Trust.

Q&A

In each episode, I take questions from listeners. If you have any questions that you want answered, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Pat asked: “As a married couple, for the Michigan Choice Waiver Program, do they look at income and assets of both spouses if only one spouse needs care?”
  • Bob asked: “Who will get my mom’s husband’s house after he passes away?”
  • Trent asked: “Do I owe taxes on property that was gifted to me when I sell the home?”
  • Sean asked: “How do I start growing a nest egg for retirement with very little savings?”

Links & Resources

AlzElderCare.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

View Details

As a beneficiary or trustee, you have some roles, responsibilities and rights to keep in mind.

Ideally, the process runs smoothly, the trust is funded properly, there’s no fighting, and no one ends up in probate court. But that’s not always the case. There are some key red flags to look out for when a trust is being administered – and if you don’t know them you risk losing what’s rightfully yours.

In this episode of The Chris Berry Show, Robert and I will talk about the role of the trustee and beneficiaries, and we’ll also discuss how to avoid probate court, when to hire an attorney, and why consulting a professional is always a good idea.

In this episode, you’ll learn...

  • Chris’ positive focuses for the week.
  • About a new bill that extends some protection for the healthy spouse.
  • What probate is and how to avoid it.
  • What a smooth estate administration looks like.
  • The four ways assets get out of your name when you die.
  • The role of the trustee.
  • The role and rights of primary and contingent beneficiaries.
  • Beneficiary red flags and when to hire an attorney.
  • What happens to assets when a trust isn’t funded properly.
  • Examples of why families fight in probate court and how they reach consensus.
  • Who is entitled to a copy of the trust.
  • Why a trust administer should have an attorney.
  • The value of a consultation.
  • What goes on when a trust is inventoried and how to find the assets.
  • How to ensure things run smoothly as a trustee or beneficiary.
  • How to reach Robert (248-559-8130).

Links & Resources

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

View Details

Today’s show is dedicated to Veteran’s and Veteran’s spouses.

There are two types of Veteran’s benefits, and you want to make sure you are taking advantage of all the benefits that apply to you. Also, there have been some important changes to the Aid and Attendance benefit that could negatively impact you if you don’t plan accordingly.

In this episode of The Chris Berry Show, I’ll talk about the new 3-year look-back period, when a Veteran’s Asset Protection trust could prove useful, and when personal care contracts and power of attorneys are needed.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • About the two types of Veteran’s benefits.
  • The benefits you get with a disability rating.
  • About the Aid and Attendance benefit, how to qualify, and the new changes.
  • What the 3-year look-back period means.
  • How we help Veterans personally and through our workshops.
  • How to set up a personal care contract with someone other than a spouse.
  • How to get your VA benefits as soon as possible.
  • How a Veteran’s Asset Protection trust can help protect the proceeds from a home sale.
  • How to get a free financial and medical power of attorney.

Q&A

In each episode, I take questions from listeners. If you have any questions that you want answered, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Jedd asked: “If one has to go into assisted living, can Veteran’s benefits cover some of the costs, even if you have savings and investments?”
  • Shane asked: “Can a person subject to Medicaid rules have an executive of an estate set up a trust for them to receive an inheritance? Will a do-it-yourself suffice for our situation?”
  • Ron asked: “What kind of power of attorney do I need for an elderly mom? What documents are necessary after she passes away?”
  • Sam asked: “How should I invest $200,000 for three years if I want to use the money for traveling expenses?”

Links & Resources

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

View Details

No matter who you are or how old you are, you can’t sneak away from good ol’ Uncle Sam.

The good news is that, with proper tax planning, you can make sure you don’t overpay or have surprise taxes hit you down the road. Some important changes have been made to the tax plan this year, and they’re likely to affect how you file.

In this episode of The Chris Berry Show, I’ll talk about the most common retirement tax traps that people fall into, and expert CPA Matt Sova will discuss what you can do to avoid them and maximize the money you – and your recipients – keep in your pocket.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • Why tax planning – not just preparation – is important.
  • What happens at 70 ½ and how you can pay income tax sooner.
  • About the taxes on required minimum distributions, pensions, and social security.
  • The common deductions that most people lose in retirement.
  • About the access trap and limitations on certain qualified accounts.
  • About the distribution trap and death trap.
  • How to use charitable contributions to minimize taxes, move money out of tax-deferred accounts, and determine if Roth conversions make sense.
  • Some of the changes to the new tax plan and the higher standard deduction.
  • A technique to maximize your standard deduction each year.
  • How to reduce your tax bill if you must take out of your retirement account.
  • Which exemptions are gone and what credits took their place.
  • About changes to the brackets and marriage penalty.
  • About estate tax issues, the kiddie tax, and when student loans may be a good idea.
  • How trusts get taxed.
  • About bunching charitable contributions.

Links & Resources

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Matt’s Website

Matt’s Email

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

View Details

We’ve seen some terrifying estate planning mistakes over the years.

We know the top ten mistakes you should avoid so you – or your loved ones – won’t feel their devastating effects later due to probate court, procrastination, outdated wills, and more. And remember, estate planning isn’t just for when you’re gone – it’s to help with your long-term care costs, too.

In this episode of The Chris Berry Show, I’ll talk about the 10 worst estate planning mistakes. Then, I’ll have Kathy Shaffer on the show to discuss the ins and outs of continuing care retirement communities.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • The 10 scariest estate planning mistakes.
  • How you could send your loved ones to probate court.
  • Common misconceptions about wills and why you should have a funded trust.
  • Why giving property outright to your children isn’t a good idea.
  • Why to avoid joint ownership with someone who isn’t your spouse.
  • The importance of having your documents reviewed and updated.
  • Why you should plan for your death or long life – without procrastinating!
  • Why a living trust alone isn’t enough.
  • The different levels of care available to seniors.
  • The varying costs of continuing care retirement communities.
  • Tips for families with a loved one who is ready to move into a community.
  • What to look for in an independent or assisted living community.
  • How to downsize when moving out.
  • How to contact Kathy at Brookdale at Novi.

Q&A

In each episode, I take questions from listeners. If you have any questions that you want answered, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Taylor asked: “How does a Ladybird Deed work?”
  • Brad asked: “How can I force my spouse to see a doctor for an Alzheimer’s determination?”

Links & Resources

AlzElderCare.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Brookdale Senior Living

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

View Details

Do you know about all the different types of trusts that are out there?

There are many others besides the basic revocable living trust, and they’ll ensure your money and assets are protected, too! It can be hard to keep track of all the varying trust and retirement account types. That’s why I’ve broken them down so you can stay educated on which options may be best for you.

In this episode of The Chris Berry Show, I’ll talk about trusts, retirement accounts, and how they’re taxed. I’ll also get into Roth conversions and ways to save for your children or if you are self-employed.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • What we do and why we stand apart from the rest.
  • The different types of trusts and how they’re managed and taxed.
  • The difference between grantor trusts and non-grantor trusts.
  • Why an asset protection trust may be better than a revocable living trust.
  • About Veteran’s Asset Protection and Castle trusts.
  • About different retirement accounts.
  • Roth conversions, current taxation of retirement accounts, and which IRA is right for you.
  • The magic time to do a Roth conversion.
  • How to save if you are self-employed.
  • How to set-up a Roth for your child.
  • How to understand beneficiary designations on IRAs.
  • When to utilize tax-deferred accounts or Asset Protection Trusts.
  • About our ongoing workshops.

Q&A

In each episode, I take questions from listeners. If you have any questions that you want answered, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Harvey asked: “What is Enhanced Estate Recovery? Explain the options for long-term care cost offset and protection. What are the financial costs?”
  • Ken asked: “Can a person who changed the trust, along with the attorney who drafted it, be in hot water if the person has dementia?”
  • Sam asked: “Is it a good idea to have a brokerage manage my investments? If so, how do I find a firm to do that?”
  • “My company offers a 401K and a Roth 401K and I currently contribute to both. Should I put all my contribution money towards the Roth?”

Links & Resources

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

View Details

With proper planning, you can leave a legacy and create a lifetime of income.

That’s why it’s important to understand the basics of IRA planning and implement a strategy that’ll keep your money protected and growing. Financial strategies and laws are always evolving, so keeping your money in places that won’t be negatively impacted is critical to ensure it’ll be there when you need it.

In this episode of The Chris Berry Show, I’ll talk about IRA basics, the biggest mistakes and myths about long-term financial planning, and why a Family Pension Plan may be the smartest move yet.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • About the Alzheimer’s bill.
  • About the new changes to Veteran’s Aid and Attendance benefit and how we’re dealing with it.
  • How we navigate the constant strategy and law change.
  • A strategy to protect and grow non-qualified money for your kids or grandkids.
  • How to leave a legacy and create a lifetime of income through a Family Pension Plan.
  • The basics of IRA planning.
  • The difference between qualified and non-qualified money.
  • Why having a plan is important and how our workshops can help.
  • The big mistakes of not utilizing your tax bracket or setting money aside for your IRA.
  • IRA contribution levels and conversions.
  • Some of the myths people believe.
  • Why to save in an IRA and look outside of just a 401K.
  • Why you can’t rely on an employer-sponsored plan.
  • The difference between a traditional IRA or 401K and a Roth IRA or 401K.

Q&A

In each episode, I take questions from listeners. If you have any questions that you want answered, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Sebastian asked: “Is there a certain balance I should keep in my checking account when my retirement is approaching? I’m four years away from retirement and I already have enough income for retirement. I have a lot of money in my checking account. Is there a certain balance I should keep in my checking account when my retirement accounts are set?”
  • Doug asked: “I may be receiving an inheritance from my uncle’s estate and I’m on Medicaid. I’m worried the inheritance will knock me off my benefits. My uncle is still alive and told me he planned on including me. What can I do?”
  • Laura asked: “Can I collect Social Security on my ex-spouse’s record even if my spouse has remarried?”
  • Another attorney, Don, asked: “What should I do with all the qualified pre-tax money?”

Links & Resources

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

View Details

What does your – or your loved one’s – Elder Care journey look like?

It’s critical to pre-plan long-term care so you can rest assured all is taken care of financially when it comes time. Although there are six ways to pay for long-term care, the approach you take may make all the difference!

In this episode of The Chris Berry Show, I’ll talk about pre-planning for long-term care, and I’ll also review why a continuing care retirement community may be a good option for you or your loved ones.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • About the different care and living options available, and where a continuing care retirement community fits in.
  • The things to keep in mind when considering a continuing care retirement community.
  • The six different ways and two approaches to pay for long-term care.
  • Financial strategies to make your money last.
  • The trouble with traditional long-term care insurance, MediCare, and Medicaid.
  • The five requirements to qualify for VA benefits.
  • About the new law requiring a 3-year look-back period to qualify for the non-service connected pension benefit.
  • Why the 3-year look-back period isn’t good for veterans and their spouses.
  • The purpose of the Veteran’s Asset Protection Trust.
  • Why pre-planning is more important than ever.

Q&A

In each episode, I take questions from listeners. If you have any questions that you want answered, feel free to email us at askchris@thechrisberryshow.com.

Here are the questions I covered in this episode:

  • Shanna asked: “What makes up my estate? Who needs estate planning and what makes a well-designed estate plan? If I have a living trust, do I need a will?”
  • Nancy asked: “We did an estate plan in Florida and moved back to Michigan. Do we need to update our estate plan?”
  • Clarence asked: “How should I invest $20,000 from a lawsuit settlement?”
  • Shelly asked: “I’m thinking about putting together my estate plan, and want to provide for my pets. How do I do that? I’m single and I have no children.”

Links & Resources

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Fox Run Retirement Community

Presbyterian Village

Canterbury on the Lake

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

View Details

Whether you are aging or assisting an elderly loved one, you know that long-term care can get expensive.

That’s why it’s important to make sure you’re getting the benefits you deserve so you can receive the care you need. Whether you are a Veteran or worried about dementia, it’s important to stay educated on the latest research and changes to your benefits that may impact your health.

In this episode of The Chris Berry Show, I’ll talk about the most recent changes to Veteran’s benefits and Dr. Bruno will dive into the latest advancements in dementia and Alzheimer’s research.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • About Veteran’s benefits and the most recent policy changes.
  • About service-connected compensation and non-service connected pension.
  • The five requirements to qualify for non-service connected pension, AKA Aid and Attendance.
  • The value of setting up a Veteran Asset Protection Trust and what a 3-year look-back period means for veterans or their surviving spouses.
  • Dr. Bruno’s education, background, and work.
  • The different types of Alzheimer’s and dementia and how they’re treated.
  • Current research, studies, and drugs being tested.
  • How to learn the 10 Warning Signs of Alzheimer’s and dementia.
  • The genetic patterns and medical illnesses that make someone high-risk – and how to lower your risk.
  • Ways to measure the disease before it appears and the 5 Key Prevention Trials.
  • About the clinical evaluations, test, and scans you can undergo to rule out dementia.
  • The worldwide studies being funded by The Alzheimer’s Association and the advancements they’re making.
  • The recent study results on hypertension and how they fit into the FINGER and POINTER studies.
  • How to register for Trial Match.
  • Ways you can support the fight against Alzheimer’s.

Links & Resources

AlzElderCare.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

TrialMatch.Alz.org

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

View Details

IRAs and 401Ks are a great way to help you get closer to your retirement saving goals but they can seem confusing and overwhelming.

On the Chris Berry show this week we dispel some myths about retirement planning as well as explaining some of the basics that are good to know when thinking about IRAs as well as some great tips about 401Ks.

In this episode of The Chris Berry Show, we’ll discuss in more detail the change in law regarding the VA benefit and how it can affect veterans, Chris and the team’s amazing results from the Walk to End Alzheimer's, and some great information from Ed Slott on why we should bother saving in an IRA.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • The official numbers of how much was raised for the Walk to End Alzheimer's.
  • The details of the new change in the law regarding the VA benefit.
  • Chris’ negative focus for the week.
  • About a concept that Chris was discussing with a colleague of his.
  • The difference between a Roth and an IRA.
  • Some IRA basics.
  • Why it is a good idea to have a financial plan and a plan for retirement.
  • Why it is important to keep up to date and know the IRA rules for 2018.
  • Common myths that people believe when it comes to retirement planning.
  • Why you should bother saving in an IRA.
  • Why you can't just rely on your employer's sponsored plan.
  • Some things to look out for if your company offers a 401k matching program.
  • How to attend one of the free workshops that are put on every week.
  • Why it is important to know the differences between a traditional IRA versus a Roth IRA.

Q&A

In each episode, I take questions from listeners. If you do have any questions that you want answers to, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Sebastian asked: "I am four years away from retirement and I already have enough income for retirement. I have a lot of money in my checking account. Is there a certain balance I should keep in my checking account when my retirement accounts are set?"
  • Doug asked: "I may be receiving an inheritance from my uncle's estate, and I'm on medicaid and I am worried that the inheritance will knock me off my benefits. My uncle is still alive and just told me he planned on including me. What can I do?"
  • Laura asked: “Can I collect social security out of my ex spouse's record even if my spouse has remarried?”
  • Chris explains a problem that he helped a fellow attorney with.

If you have a question that you would like to ask Chris then drop him an email at askchris@thechrisberryshow.com or call 810-355-2584.

Links & Resources

Alzheimer's Association

Alzheimer's Association 24/7 helpline - 800-272-3900

TheElderCareFirm.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Farm Bureau Insurance

RiskScoreNow.com

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

View Details

Three out of four people are going to need some form of long-term care during their lifetime but how do you plan for that if you don’t know about the different types of care there are and the different ways in which you can pay for them?

On the Chris Berry show this week we talk about continued care retirement communities, how they function, and the different ways in which you can pay for them in order to get the right form long-term care for you.

We will also be discussing new law changes that will affect VA benefits for veterans and surviving spouses of veterans and how they pay for long-term care. Plus an interesting question from a listener regarding pets.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • How much Chris and his team raised during the Walk to End Alzheimer's.
  • About Fox Run, the continued care retirement community, and the amazing work they do.
  • What a continued care retirement community is and what type of care they can provide
  • About the different stages of the elder care journey.
  • What each of the stages of the elder care journey can involve and what you can expect to be paying.
  • Some pros of choosing a continued care retirement community and some things to think about before moving into one.
  • The 2 approaches you can take to plan for long-term care.
  • About a big change in law and how it affects veterans and surviving spouses of veterans.
  • The 6 ways in which we can pay for long-term care and how the VA benefit fits into them.
  • Information on how to attend one of the free workshops that are put on every week.
  • The problems with having traditional long-term care insurance.
  • How you can use Medicaid to help pay for parts of long-term care
  • The best type of trusts to have if you have young children.
  • What the requirements are in order to qualify for the VA benefit.
  • Why you need different types of planning at different points in your life.
  • What Chris will be discussing next week on show.

Q&A

In each episode, I take questions from listeners. If you do have any questions that you want answers to, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Shawna asked: "What makes up my estate? Who needs estate planning? And what makes a well-designed estate plan? If I have a living trust, do I need a will?"
  • Nancy asked: "So we did an estate plan in Florida, and now moved back to Michigan. Do we need to update your estate plan?"
  • Clarence asked: "How should I invest $20,000 from a settlement from a lawsuit?"
  • Shelly asked: "I'm thinking about putting together my estate plan, and want to provide for my pets. How do I do that? I'm single, and I have no children."

If you have a question that you would like to ask Chris then drop him an email at askchris@thechrisberryshow.com or call 810-355-2584.

Links & Resources

Alzheimer's Association

Alzheimer's Association 24/7 helpline - 800-272-3900

TheElderCareFirm.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Farm Bureau Insurance

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

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The parts of a financial plan are like puzzle pieces. If one of the pieces is wrong then it won’t fit with the rest of the puzzle, and that is not a good thing.

On the Chris Berry show this week we talk about the value of having a good holistic plan and why it’s important to have all the pieces of your plan fit together perfectly.

In this episode of The Chris Berry Show, we’ll discuss methods for making sure your investments are in order and some great tips when it comes to choosing a fiduciary. We will also be discussing why you should never procrastinate when it comes to wealth, estate, and tax planning for the second half of life.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • How an acapella group got Chris thinking about the goal of The Elder Care Firm.
  • Details on how to make a donation to the Walk to End Alzheimer's.
  • The value of a holistic advisor.
  • Why The Chris Berry Show wants to bring holistic planning to the middle class.
  • Why you need to make sure that your investment plan is on point.
  • Why you need to make sure that your investments match your volatility.
  • A definition of the “now”, “later”, and “soon” buckets that make up the Bucket Plan.
  • How the Bucket Plan can help organize your investments.
  • Why it’s important to plan for inflation in your “soon” bucket.
  • That it’s important to look into tax planning and not just tax preparation.
  • How holistic planning is a key piece of the puzzle when it comes to planning for the second half of life.
  • An example of why some people are afraid to sign a will or trust.
  • Why you should never procrastinate when it comes to financial planning.
  • Some tips on how to choose a fiduciary.
  • How often you should review your financial and legal plans.

Q&A

In each episode, I take questions from listeners. If you do have any questions that you want answers to, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • John asked: "Can a spouse make a medical decision without a power of attorney?"
  • Gayle asked: "When is a guardianship required? My father has been diagnosed with Alzheimer's, and he's starting to forget some things. When do we need to take steps to become a guardian for him?"
  • Helena asked: "I think my father may have Alzheimer's, what do I do?"
  • Sarah asked: "What are the care options for my mother with Alzheimer's?"
  • Sam asked: "If four adult siblings inherit an equal amount of an estates, but one of the four passes away, does his portion of the estate go to the rest of the siblings, or to his children?"
  • Chad asked: "So what makes up my estate? Who needs estate planning? What makes a well-designed estate plan? If I have living trust, do I need a will?"

If you have a question that you would like to ask Chris then drop him an email at askchris@thechrisberryshow.com or call 810-355-2584.

Links & Resources Alzheimer's Association

Alzheimer's Association 24/7 helpline - 800-272-3900

TheElderCareFirm.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Farm Bureau Insurance

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

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One in ten people age 65 and older has Alzheimer's disease and with no cure at the moment, it is important to take these statistics into account when planning for the second half of life.

On the Chris Berry show this week we talk to Lauren Kovac about her personal involvement with caring for her Grandma after she was diagnosed with Alzheimer's and how she became an important part of the Walk to End Alzheimer's.

In this episode of The Chris Berry Show, we’ll discuss why it is important to make plans regarding long-term care or nursing home care when planning for the second half of life. We will also be talking to guest Lauren Kovach about how she’s doing her part in the fight to end Alzheimer's, and some ways to become an advocate yourself.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • Details about the Walk to End Alzheimer's that is taking place on September 29th and how you can donate.
  • Why it’s important to cure Alzheimer's and how it affects our long-term care planning.
  • The different levels of care that may be needed if you are diagnosed with Alzheimer's and what you can expect to be paying for that care.
  • The current statistics on how many people will need nursing home care or some other kind of long-term care.
  • Why it’s important for a family to have choices in how they care for a loved one with Dementia.
  • Why the Chris Berry Show focuses on planning for the second half of life and not what happens after we pass away.
  • How Lauren Kovac got involved in the Alzheimer's Association.
  • The first time Lauren took part in the Walk To End Alzheimer's and how long she has been doing it for.
  • How her grandma being diagnosed with Alzheimer's affected both Lauren and her mother’s lives.
  • About the National Alzheimer's Forum in Washington, DC.
  • What the Alzheimer's Association is pushing for in terms of a state and federal level.
  • Ways you can get involved in advocacy for those with Alzheimer's or Dementia.
  • Some of the people that Lauren has sat down and shared her story with.
  • How advocacy can be a slow process but people listen, things can get done, and it can be very rewarding.

Q&A

In each episode, I take questions from listeners. If you do have any questions that you want answers to, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Tammy asked: "Can someone with Dementia sign a power of attorney or any other legal document?"
  • Shelby asked: "How do I gain guardianship for my mother, who has Alzheimer's?"

If you have a question that you would like to ask Chris then drop him an email at askchris@thechrisberryshow.com or call 810-355-2584.

Links & Resources

The Alzheimer's Association AIM Advocacy Forum in Washington, DC.

Alzheimer's Association

Alzheimer's Association 24/7 helpline - 800-272-3900

TheElderCareFirm.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Farm Bureau Insurance

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

View Details

If you have young children it is not fun to think about them having a future without you but there are important steps you need to take so you can rest assured that your family will be taken care of.

On the Chris Berry show we usually talk about planning for the second half of life but if you have young children it is incredibly important to have a plan in place in case something terrible happens to you and you leave them behind. This week we are talking about some of the things you need to plan for in the first half of life.

In this episode of The Chris Berry Show, we’ll discuss some of the things that need to be considered when making plans regarding your children’s future if anything should happen to you. We will also be talking to guest Maggie Gibbons about Alzheimer's, the Alzheimer's Association, and the Walk to End Alzheimer's.

In this episode, you’ll learn... * Chris’ positive focus for the week. * Planning for the first half of life and not just the second half. * Important things to think about from an estate planning perspective if you are a parent. * Why it’s important to name a guardian for your children sooner rather than later. * Things to look for and think about when choosing a guardian for your children. * What to take into consideration when choosing a trustee for your children’s trust. * Financial planning with regards to young children. * Using the “bucket planning approach” for your financial planning. * How to use the bucket planning approach for you kid’s college funding, private school, braces, vacations, etc. * Information about an upcoming workshop called “Ten Warning Sign of Alzheimer's.” * What the Alzheimer's Association does and who it helps. * About our guest Maggie Givens and what her role is in the Alzheimer's Association. * How to contact the Alzheimer's Association if you have a family member who has a loved one who has Alzheimer's and need some advice or help. * About the Walk to End Alzheimer's and what it raises money for. * How you can donate or join Chris’ team for the Walk to End Alzheimer's on September 29th in Livingston County.

Q&A In each episode, I take questions from listeners. If you do have any questions that you want answers to, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Donna asked: "As a single mother in my 40s, what are some safe ways to grow my money for retirement? I have the majority of my money in CDs and three children I want to provide for college. One of them is about to go into college next year."
  • Pete asked: "I'm the beneficiary of a trust in $100,000 and wondered if I have a legal right to the copy of that trust or will? I've called the attorney's office where the trust was set up and have heard nothing."
  • Jim asked: "Is life insurance a good way to leave money to a child?"
  • Bill asked: "After completing a trust, how do I inform or give copies of the paper or accounts to my adult children?"
  • Karen asked: "My mom wants her will changed but is bedridden and cannot leave the facility."
  • Simon asked: "Are there any benefits to contributing to my employee 401K over my Roth if the employer is not matching? I opened a Roth IRA years ago before I was enrolled in my company 401K plan. Now, I work for the state and I'm enrolled in their 401K plan, however, the 401K plan does not match my contributions. Are there any benefits in contributing to my employer's 401K as opposed to my individual Roth IRA? Is there one that I should focus on first?"

If you have a question that you would like to ask Chris then drop him an email at askchris@thechrisberryshow.com or call 810-355-2584.

Links & Resources Alzheimer's Association

Alzheimer's Association 24/7 helpline - 800-272-3900

TheElderCareFirm.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Farm Bureau Insurance

Follow us on Social Media Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

View Details

No matter how much you plan for the future, life can throw you an unexpected curveball.

It is never fun to think about taxes and death, but these things are expected in life so we plan for them in advance. Sometimes life throws something unexpected your way so how do you plan for the unexpected? What can we do to plan for these curveballs that life is throwing at us and how can we best utilize the tools we have in front of us to get the most out of our insurance policies?

In this episode of The Chris Berry Show, I’ll talk about the different types of long-term care policies and which ones will best protect us and our families in times of need.

In this episode, you’ll learn...

  • Chris’ positive focus for the week.
  • How you can have the perfect plan in place, but you never know when life is gonna throw you a curveball.
  • About long-term care and asset-based long-term care.
  • Why Chris let his traditional long-term care insurance policy lapse.
  • About the different types of life insurance.
  • About the different uses for permanent life insurance
  • Ways to contact the The Chris Berry Show if you want to submit a question for Chris to answer in a future episode.
  • Information on the upcoming workshops that Chris is putting on.
  • The key issues with a traditional long-term care insurance policy and why you may not want one.
  • The major benefits of having an asset-based long-term care policy instead of a traditional long-term care policy.
  • How you can pay for long-term care in a tax-free way.
  • The differences between permanent life insurance and term life insurance.
  • What an index universal life insurance policy is, how it works, and what you can do with it.
  • How find the the right life insurance policy for you.

Q&A

In each episode, I take questions from listeners. If you do have any questions that you want answers to, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • A client asked: My spouse passed away with lots of medical bills. Do I have to pay those? We have a house owned jointly and I was a beneficiary of her retirement account.
  • Levi asked: "My wife and I are both in our 50s and are expecting a large check from her father's estate in the amount of about $100,000. It's in the final stages of process and we should receive our portion within 90 days. The question is, what should we do with this check once we receive it?"
  • Ronnie asked: “Do grandchildren have a right to an inheritance, and does their name have to be on the will to receive it, and can they fight it?”
  • Larry asked: "Is life insurance a good way to leave money to my children?"
  • Donald asked: “How can I get my deceased mother's money from the bank? She has money at the bank, but passed away.”

Links & Resources

TheElderCareFirm.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Farm Bureau Insurance

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

View Details

Does your insurance fully protect you and your family? Are you sure?

Insurance may not be one of the most exciting topics in the world but what is exciting is the peace of mind you’ll have knowing that your possessions and family are protected. The world of insurance can be a confusing one full of jargon, variables, and technicalities so today we’re going to dive deep into what you need to know.

In this episode of The Chris Berry Show, I’ll talk to insurance specialist Andrew Ceo about protecting your family from an insurance perspective, umbrella policies, and the different types of coverages that you should have.

In this episode, you'll learn...

  • Chris’ positive focus for the week.
  • How to contact Chris if you want him to answer a question on a future episode of the show.
  • A terrible thing that happened to Chris’ neighbors and how it relates to today’s episode.
  • Information on how to attend an upcoming workshop called “Legal, Financial, and Tax Planning for the Second Half of Life” that Chris is putting on.
  • Why Chris’s firm is different from a lot of "financial professionals” that just want to sell you something instead of having a fiduciary responsibility to act in a client's best interest.
  • That, when it comes to financial planning, the best approach is an educational approach and to educate people on what constitutes good planning and bad planning so that they can make better decisions.
  • How Chris’ guest, Andrew Ceo, got into the insurance business.
  • What has changed in the 12 years since Andrew started working in the insurance business.
  • Things to think about if you own or operate a drone with regards to insurance.
  • Some things that people should be looking for in their homeowner's policy.
  • Tips on how to protect your possessions when using a moving company and how your homeowner's policy may not cover your items.
  • Some of the many things that business owners should be looking for, in terms of your coverage.
  • How find the the right insurance agent for you.
  • What umbrella insurance is and why it's so important.
  • Who an umbrella policy is best suited for.
  • How to best assess what liability limits you should have with your umbrella policy.
  • How often you should people review your insurance policies.

Q&A

In each episode, I take questions from listeners. If you do have any questions that you want answers to, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Meg asked: "What is the best way to transfer land out of my mother's name to me?"
  • Jennifer asked: "I'm married, deed in husband's name. No will, no trust, etc. If husband dies, is wife entitled to the house?"
  • John asked: "My daughter is two years from starting college, how should my 529 account be balanced? I have almost enough to pay for four years of school, including my other savings account. Should it all be in money market accounts? Should any portion be in stock and bond funds?"
  • Peter asked: "My brother is currently suffering with dementia, and it's just a matter of time before he'll have nursing home arrangements. Both of our names are on the condo, and I was wondering, do I need to put the condo in a trust to protect the nursing home from attempting to seize all of his or our assets?"

Links & Resources

TheElderCareFirm.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Farm Bureau Insurance

Andrew Ceo’s information

Farm Bureau Insurance

Andrew’s profile: https://www.farmbureauinsurance-mi.com/Agent/Andrew-Ceo/

Andrew’s office phone number: 810-231-9757

Andrew’s email address: aceo@fbinsmi.com

Follow us on Social Media

Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

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Have you ever felt overwhelmed when it comes to planning for retirement? You’re not alone!

Planning for retirement can feel daunting and complicated and all of the different names for accounts don’t make things any easier. IRA, Roth IRA, 401(k), Roth 401(k), LIRP, it’s enough to make your head spin!

In this episode of The Chris Berry Show, I’ll explain some of the basics of retirement accounts, retirement planning and how those different accounts work and the key differences between a 401(k), an IRA, and a Roth 401(k).

In this episode, you’ll learn... * Chris’ positive focus for the week. * The basics of retirement accounts, retirement planning, and how those different accounts work. * The differences between a 401(k), and IRA, and a Roth 401(k). * An amazing offer for first 20 people that either call or email in. * A government incentive called the “Pension Protection Act”, how it works, and what it allows you to do regarding your life insurance or funds. * Some examples and case studies of how to use the Pension Protection Act. * How to use the Pension Protection Act to take an existing annuity and leverage it to create a tax-free stream of long-term care income to help pay for home healthcare, assisted living, or skilled care. * Upcoming guests that will be joining Chris on The Chris Berry Show. * How to help support the Alzheimer's Association to help with the fight to end Alzheimer's. * How to donate or join Chris’ team in the Walk to End Alzheimer's. * Where to find information on upcoming workshops around the Metro Detroit area. * What an IRA (Individual Retirement Account) is and what they are used for. * What people commonly mistake an IRA for being and what you can put into an IRA. * A definition of what a 401(K) is and how they work. * Some key things to think about with regards to IRAs, including the “Required Minimum Distribution” and when it needs to happen. * The difference between Roth IRAs and Roth 401(k)s. * Some other types of IRA and incentives for employees. * About LIRPs (Life Insurance Retirement Plan) and when to use one. * What Chris will be talking about on next week's show. * What happens if you die without leaving a will.

Q&A In each episode, I take questions from listeners. If you do have any questions that you want answers to, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Howard asked: "How do I void a power of attorney? My sister gave me power of attorney over her, but I don't want to serve. And I didn't sign anything."
  • Ross asked: "When my uncle dies and leaves no will, who inherits his estate? He has two living sisters and 13 nieces and nephews, and I want to know who does his estate go to."
  • Josh asked: "What should I do with my RMDs, my required minimum distributions, after I pay taxes, and I have no need for the funds? It's important to me to leave money to my granddaughter and my grandson. I want something with limited risk."
  • Darren asked: “Are CDs or a diversified mutual fund a better investment if I want to leave an inheritance to my children? I have $70,000 sitting in savings that I'll not need to touch. How should I invest it for my children?"

Links & Resources Join our team and help us raise money for The Alzheimer’s Association!

TheElderCareFirm.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Join our team and help us raise money for The Alzheimer’s Association!

Download a copy of our book, Tax-Free Money for Long-Term Care

Follow us on Social Media Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

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Financial scams targeting seniors have become so prevalent that almost everyone knows someone who has fallen prey to a scam perpetrated either by a stranger of a loved one.

Unfortunately, there are people out there that prey on the elderly for financial gain in many ways that may include a loved one taking advantage of them, identity theft via phone scams, or online trickery. Older people are more at risk for these kinds of scams and fraud attempts so it is important to know what to look out for.

In this episode of The Chris Berry Show, I’ll explain some of the scams, elder abuse, and financial exploitation that I have witnessed with clients and some useful tips on how you can protect yourself and your loved ones.

In this episode, you’ll learn... * Chris’ positive focus for the week. * Chris talks about going to a national conference and why it is important to him to always be learning and improving himself. * What long-term care insurance is and how it works. * The issues with traditional long-term care insurance and how the money that you pay into it can be lost if you don’t ever require long-term care. * A new long-term care insurance strategy and why Chris is a big fan of it. * The benefits of the new asset-based long-term care insurance. * How asset-based long-term care insurance can help protect your retirement accounts, IRAs, and your 401Ks. * How asset-based long-term care strategies can help empower you and give you more options and choices. * Some of the elder abuse and financial scams that Chris sees people falling victim to and how to protect yourself from them. * How to find and register for any upcoming workshops that Chris puts on throughout Metro Detroit. * A client that Chris had that dementia and was scammed out of hundreds of thousands of dollars and how they set up a way for him to still have his financial independence but also had money put aside to protect his spouse. * How money can even make a family member the villain when it comes to scamming elderly people. * A text based scam called “spoofing”, and how a simple text message can lead to identiift theft. * Why you should be careful as to what you are liking and clicking when on Facebook. * How, when browsing the internet, you should avoid pop-ups that tell you to click a link of any kind. * When buying tickets online you should try to always buy from an official provider to avoid what is known as “white label ticket scams.” * Ransomware and how it works. * How you should be wary of charitable scams or phoney online fundraisers or crowdfunding campaigns. * What you should do and who to contact if you think you or someone you know may have fallen victim to a scam. * How older people that are susceptible to persuasion can be taken advantage of when talking to people in person, on the phone, or online. * That if it looks too good to be true, it probably is too good to be true. * Some of the common classic scams that have been around for a long time and how they work such as lottery sweepstakes and grandparent scams. * The difference between a will and a trust.

Q&A In each episode, I take questions from listeners. If you do have any questions that you want answers to, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • William asked: "Where do I register a living trust?"
  • Laurie asked: If you have a $24,000 standard deduction, how does that 7.5% medical expense deduction work? Is that on top of the $24,000 standard deduction?"
  • John asked: "Can I apply for guardianship for my wife? She has dementia and cannot drive or make decisions for herself, how do I help her?"
  • Todd asked: "My father died in May. His will stated that my stepmother gets everything. Do my four siblings and I have any rights?”

Links & Resources TheElderCareFirm.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Follow us on Social Media Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

View Details

There are countless variables at play when it comes to planning for the second-half of your life and tax changes are a variable that cannot be ignored.

If you’re planning to retire soon or are already retired, the new tax laws have a big impact on your finances whether you realize it or not. If you want to protect your wealth, you’ll need to understand what these changes are and how to navigate them.

In this episode of The Chris Berry Show, I’ll explain the ins and outs of of the new tax bracket laws and how they compare to the old laws, as well the importance of planning ahead of time when it comes to asset protection.

In this episode you’ll learn... * Chris’ positive focus for the week. * What a court deems as “fraudulent conveyance” when it comes to liability cases. * Why we should set up asset protection policies ahead of time instead of only when it is needed. * What a castle trust is and why it appeals to a lot of people that own a businesses, or people that just want to protect their assets from life happening. * Why having an umbrella policy is a great idea to protect your assets in the event of being sued. * Chris explains the two types of long-term care insurance. * Why it’s better to start thinking about nursing home costs or life insurance sooner rather than later. * What a nursing home or a Medicaid spend down is and how planning ahead can help protect you from them. * Chris tells us what he goes through when meeting with clients and where to find some useful resources and information about upcoming workshops. * Chris explains some of the tax changes that have happened in 2018 and what effect it can have on you if you're moving into retirement, or already retired. * The old income tax bracket laws versus the new income tax bracket laws. * Going into details on tax bracket laws and its impact on medical expenses, charitable giving, mortgage interests, child tax credits, the kiddie tax, 529 plans, Roth IRAs, alimony, retirement plans, and the inheritance tax. * Why Chris thinks that the estate tax will eventually be phased out. * How the new laws around corporate tax rates can benefit small business owners. * Chris explains the difference between a springing financial power of attorney versus an immediate financial power of attorney. * Chris tells us exactly what a will is, what it does, and how it works. * Chris tells us what he will be discussing next week on The Chris Berry Show.

Q&A In each episode, I take questions from listeners. If you do have any questions that you want answers to, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Claire asked: "Can a durable power of attorney override a healthcare power of attorney?"
  • Charles asked: "How does a will work when someone passes away?"
  • Amy asked: "My father’s house was in his living trust and my brother and I were both trustees. I already bought my brother out. I just need to know what I have to do to get the house in my name and my husband's name.?"
  • Jonathan asked: “Am I safe to continue investing in Warren Buffet's 90% stock, 10% bond recommendation? Or should I play it safe and become more conservative as I near retirement?

Links & Resources TheElderCareFirm.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Get your copy of A Caregiver's Legal Guide to Planning for a Loved One with Chronic Illness

Download a copy of our book, Tax-Free Money for Long-Term Care

Follow us on Social Media Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

The Caregiver's Legal Guide Planning for a Loved One With Chronic Illness: Inside Strategies to Plan for Medicaid, Veterans Benefits and Long-term Care

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Planning for the second-half of your life can seem daunting and overwhelming, but there is a simple system we use to make it much easier.

One of the biggest risks in retirement is what's called sequence of returns and you can protect yourself against it by using a simple system we call The Bucket Plan.

In this episode of The Chris Berry Show, I’ll explain the ins and outs of The Bucket Plan and how it will help you plan for the second-half of life.

In this episode you’ll learn... * Chris’ positive focus for the week. * Talk about how to handle your finances in that second-half of retirement. * The difference between the old paradigms versus the new paradigms of financial planning. * How to help in the fight against Alzheimer's. * Why it's important that you get your affairs in order sooner rather than later. * How going through the aging process and death can have interesting effects on family dynamics. * What a “Bucket Plan” is, and how it's an interesting way to organize your finances for the second-half of life. * What the sequence of return is and how to protect against its risks. * How the sequence of returns or the order of returns can have a drastic effect on our retirement. * How the Bucket Plan can help fight against the sequence of returns. * The 3 figurative buckets of the Bucket Plan and what should be in them. * How to work out how much to add to your inflation hedge. * What legacy planning is and why it’s important to factor into your financial planning. * Where to find a list of the upcoming workshops that are happening to help with any of the topics discussed today. * Why you should not worry about the things that you cannot control but instead worry about things that you can control, such as tax planning and legal planning. * The four ways that assets transfer to someone after the death of a family member or a loved one. * Why you should try to avoid probate? * What a “lady bird deed” is and what it does.

Q&A In each episode, I take questions from listeners. If you do have any questions that you want answers to, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Brock asked: "I'm a new investor. I have some insight on stocks, ETFs, options and other investment strategies, but I'm currently looking into mutual funds as another source of investment. How do I evaluate the funds and actually make money off them and apply this knowledge to other investment goals?"
  • Andrew asked: "What steps do I need to take to probate my mom's estate?"
  • Mark asked: "My wife and I plan to use our IRA to purchase a home. The amount we'll use from our IRA is $160,000 and we are first-time home-buyers. So the question is, how much should I expect to pay in taxes?"
  • Jillian asked: "I made a lady bird deed and included my siblings. Now, I want to sell, but I am concerned one of my siblings won't sign off."

Links & Resources TheChrisBerryShow.com

TheElderCareFirm.com

Michiganestateplanning.com

CJBerryGroup.com

Join our team and help us raise money for The Alzheimer’s Association!

Download a copy of our book, Tax-Free Money for Long-Term Care

Follow us on Social Media Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

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75% of people will require some form of long-term care and the intricacies of long-term care insurance can be confusing.

The complexity of insurance policies and the law itself can mean that even a few small words in a deed or a will can make all of the difference your estate planning. It is crucial that you sit down with an expert to create a holistic estate plan that will protect your quality of life and your assets.

In this episode of The Chris Berry Show, I’ll explain the ins and outs of long-term care insurance and tax-free ways to pay for your long-term care.

In this episode you’ll learn... * Chris’ positive focus for the week. * The complications of joint ownership of property with anyone but your spouse. * What can happen when an attorney without the right knowledge about estate planning sets things up for you. * The difference a few little words can make in your estate planning. * Why it’s so crucial to sit down with an expert when you're considering putting together your estate plan. * Tax-free ways to pay for long-term care. * The 6 says to pay for long-term care. * Why you don’t want to rely on the government for your long-term care needs. * The biggest problem with the pure traditional long-term care insurance. * How pure traditional long-term care insurance is like renting a house versus asset based long-term care insurance is owning it. * How long-term care insurance works. * How long-term care insurance classes the six activities of daily living and why it matters. * What an elimination period is and why you need to factor it into your financial planning. * How the underwriting differs between types of long-term care insurance. * How the monthly and lifetime limits may change your plans to rely solely on long-term care insurance. * How to protect retirement accounts from long-term care costs. * How we’re raising money to fight Alzheimer's. * How to find a Walk to End Alzheimer's near you to participate in.

Q&A In each episode, I take questions from listeners. If you do have any questions that you want answers to, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Paul asked: "My mother passed away with a will leaving a house to me once her husband passes or moves out. However, he has deeded the house himself. Will the house go to his heirs?"
  • David asked: "Should I purchase term life insurance or whole life insurance?"
  • Vernon asked: "My 82 year old mother suffers from dementia, and is no longer able to live on her own. She'll be moving into a nursing home, but the nursing home is taking all of her income, leaving her 60 dollars a month. So who pays property tax and maintenance once she is in nursing home on Medicaid? Are my sister and I responsible?"

Links & Resources Get your copy of A Caregiver's Legal Guide to Planning for a Loved One with Chronic Illness

Join our team and help us raise money for The Alzheimer’s Association!

Alzheimer’s Association

Know the 10 Signs Of Alzheimer’s

TheElderCareFirm.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Download a copy of our book, Tax-Free Money for Long-Term Care

Follow us on Social Media Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

The Caregiver's Legal Guide Planning for a Loved One With Chronic Illness: Inside Strategies to Plan for Medicaid, Veterans Benefits and Long-term Care

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The number of Americans living with Alzheimer's is growing — and growing fast. An estimated 5.7 million Americans of all ages have Alzheimer's.

Alzheimer's disease is the sixth-leading cause of death in the United States and the fifth-leading cause of death among those age 65 and older. It also is a leading cause of disability and poor health. Alzheimer's also takes a devastating toll on caregivers physically, emotionally, mentally, and financially.

In this episode of The Chris Berry Show, I’m joined by special guest Maggie Gibbons from the Alzheimer's Association and she is going to share the ways that you can help by raising awareness and raising money to fight Alzheimer’s.

In this episode, you’ll learn... * Chris’ positive focus for the week. * Why the longer you think you're going to live, the longer you want to wait to take social security, generally speaking. * All of the different free workshops available to you. * Planning for a tax-free retirement. * How we’re raising money to fight Alzheimer's. * How to find a Walk to End Alzheimer's near you to participate in. * Tools that should be in place when you have a loved one diagnosed with dementia. * How Maggie Gibbons got involved with the Alzheimer's Association and what they do. * The difference between Alzheimer's and dementia. * How people get diagnosed with Alzheimer's and what to look out for. * How to start a conversation if you notice dementia or Alzheimer's symptoms. * The 10 basic signs of Alzheimer's. * What support is available through the Alzheimer's Association. * What the money raised during the Walk to End Alzheimer's goes to.

Q&A In each episode, I take questions from listeners. If you do have any questions that you want answers to, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Fred asked: "My grandmother's revocable trust turned irrevocable due to her dementia. I need to apply for Medicaid for her, but she has a house worth $200,000 in her trust. Will Medicaid count this as an asset even though her trust turned irrevocable?"
  • David asked: "Should I purchase term life insurance or whole life insurance?"
  • Vernon asked: "My 82-year-old mother suffers from dementia, and is no longer able to live on her own. She'll be moving into a nursing home, but the nursing home is taking all of her income, leaving her 60 dollars a month. So who pays property tax and maintenance once she is in a nursing home on Medicaid? Are my sister and I responsible?"

Links & Resources Get your copy of A Caregiver's Legal Guide to Planning for a Loved One with Chronic Illness

Join our team and help us raise money for The Alzheimer’s Association!

Alzheimer’s Association

Know the 10 Signs Of Alzheimer’s

TheElderCareFirm.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Download one of our free reports to help you start planning

Follow us on Social Media Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

The Caregiver's Legal Guide Planning for a Loved One With Chronic Illness: Inside Strategies to Plan for Medicaid, Veterans Benefits and Long-term Care

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75% of people will need some form of long-term care. Are you financially prepared for that reality?

Whether you need something like occasional in-home care which can cost $1000-$3000 per month or nursing home care which can cost anywhere from $8000-$12,000 per month, you need to be prepared. Planning now is going to preserve your quality of life as well as reduce the stress and burden that your partner and family members will feel trying to maintain theirs.

In this episode of The Chris Berry Show, I’m going to discuss the elder care journey, the costs associated with each type of care, and the 6 ways to pay for long-term care.

In this episode, you’ll learn... * Chris’ positive focus. * How Chris is working with the Dementia Coalition to help put together a state plan. * Why guardianships should really be one of the last ditch efforts to help someone in terms of managing their finances. * When do we get involved if a loved one has dementia? * How local police can help if you think your loved one shouldn’t be driving. * Alternatives to guardianship that may work better for you. * Why all that money you have in IRAs and 401Ks isn’t yours. You're in partnership with the US government. * How IRAs and 401Ks are like a mortgage. * Next week’s guest that you won’t want to miss! * What the elder care journey looks like. * The costs of in-home care and when that isn’t feasible anymore. * The difference between assisted living facilities and assisted living facilities with memory care. * The average costs of nursing home care. * The 6 ways to pay for long-term care. * How your children may not pay financially for your care but may pay with their time. * How long-term care insurance works and the 2 types available. * An alternative to long-term care insurance that most people don’t know about. * What Medicare will and will not pay for in terms of long-term care. * How your VA benefits may cover long-term care. * How Medicaid can pay for care in a nursing home. * Crisis planning techniques that can help protect assets.

Q&A In each episode, I take questions from listeners. If you do have any questions that you want answers to, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Daphne asked: "Does it make sense to pay the tax now on my IRAs instead of paying taxes later?"
  • Rose asked: "Are contributions to a Roth 401K from an employer matched pre-tax or after tax?"
  • Doug asked: "Can my dad protect his house and other properties if he has a trust from Medicaid? What are the differences between a revocable and an irrevocable trust?"
  • Joseph asked: "How do we handle the lady bird deed when the owner can no longer make decisions due to dementia?"

Links & Resources 2018 Walk to End Alzheimer's - Brighton, MI

Alzheimer’s Association

TheElderCareFirm.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Download one of our free reports to help you start planning

Follow us on Social Media Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

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By default, we are all guided by the US government’s set of rules in the second half of our lives, but wouldn’t it be better to go by your own set of rules?

The US government’s set of rules kicks in when you haven’t done comprehensive estate planning and perhaps unsurprisingly, it involves a lot of red tape and is costly. You don’t have to operate by the default set of rules though!

In this episode of The Chris Berry Show, I’m going to show you what it means to create your own rulebook and how it can improve your quality of life.

In this episode, you’ll learn... * Some interesting facts about Memorial Day. * How we help veterans and their spouses plan for the second half of their lives. * What the Area Agency on Aging 1-B does. * Why you need protection from the government. * An upcoming guest: Maggie Gibbons from the Alzheimer's Association will be joining us and she's going to share about the work that the Alzheimer's Association is doing to help fight Alzheimer's as well as build and support services for caregivers and people suffering from Alzheimer's. * Why we want to have our own rulebook versus relying on the government's rule book. * How to avoid probate while you're alive as well as when you pass away. * How you can avoid guardianships and conservatorships. * The 2 key documents to avoid the guardianships and the conservatorships. * The key takeaways from the Terri Schiavo case. * Why you need to rely on a joint ownership, beneficiary designation, or a trust to avoid probate, not a will. * How to avoid estate tax. * Why you need to understand gift tax. * How marginal tax rates work. * Why it makes sense to get out of the partnership with the US government sooner rather than later.

Q&A In each episode, I take questions from listeners. If you do have any questions that you want answers to, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • "I've used services of a family attorney for years. What is an elder law attorney? What would be the benefit of seeking services of a certified elder law attorney now that my husband and I are turning 65?"
  • “Why did you become an elder law attorney?”
  • "What are the areas of expertise in elder law and why did you choose to specialize in these areas?"
  • "What question should a person ask when seeking the services of an elder law attorney?"
  • "As the author of The Caregiver's Legal Guide to Planning for a Loved One with Chronic Illness, what was one of your goals in writing the book?"
  • Alex asked: "I have a power of attorney for my dad who has mild dementia and easily confused. His second wife is not trusted to act in his best interests. Can she have him sign a new power of attorney without my knowledge?"
  • Matt asked: "Should the tax rate on a 401(k) withdrawal be lower after reaching age 59.5?"
  • Donald asked: "My mother and father have both died, but they were divorced. During the divorce she was awarded half his pension. I'm trying to see if I can get the pension, and do I have to split it with my siblings being that we have different fathers and it's my father's pension?"
  • Joseph asked: "How do we handle the lady bird deed when the owner can no longer make decisions due to dementia?"

Links & Resources Area Agency on Aging 1-B

Get your copy of A Caregiver's Legal Guide to Planning for a Loved One with Chronic Illness

2018 Walk to End Alzheimer's - Brighton, MI

Alzheimer’s Association

TheElderCareFirm.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Download one of our free reports to help you start planning

Follow us on Social Media Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

The Caregiver's Legal Guide Planning for a Loved One With Chronic Illness: Inside Strategies to Plan for Medicaid, Veterans Benefits and Long-term Care

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With all of the medical advances that we are making, are you prepared to live longer?

Living longer sounds great but will your retirement savings last as long as you need it to? Thinking about how you’ll approach that now is going to give you a much better quality of life later.

In this episode of The Chris Berry Show, I’m going to share 5 of the most common estate planning mistakes we see in our office and tell you how you can plan for a better quality of life as we start to live longer.

In this episode, you’ll learn... * Some exciting things happening on the personal front. * Why we start things off with a positive focus. * Why I say that I plan on living to 148. * Why it’s so important to not retire from a job but to retire to something. * What are the things that excite you and how will that factor into your retirement? * If we live a lot longer, our retirement money needs to last a lot longer as well. How will you handle that? * How Chris shielded one couple’s children from a big tax burden. * A recap of the first 5 common estate planning mistakes I shared in the last episode. * 5 more of the 10 most common estate planning mistakes that we see in our office. * How many people misuse a trust by not funding it properly. * Why it is so important to have your documents reviewed regularly. * How your estate plan is like a parachute so it’s important to check it for holes regularly. * How often you should review your estate plan. * Why you need to plan for what happens if you don’t die. * The 6 ways to pay for long-term care. * Why a trust alone is not enough. * What a pour-over will is and why it is important. * Why you absolutely must have a financial power of attorney and a medical power of attorney. * What comprises a comprehensive estate plan. * Why procrastination is your greatest enemy.

Q&A In each episode, I take questions from listeners. If you do have any questions that you want answers to, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Fred asked: "Can I buy my father's house for one dollar six months before he goes into a nursing home?"
  • James asked: "When my wife goes into a nursing home am I responsible for her bills?"
  • Wilson asked: "If a co-owner on my dad's stock refuses to sign the paper to remove herself what can my dad do to get her off?"
  • Kelly asked: "Does an executor need to disclose how money is being spent? My mother had a stroke but is cognitive and alert. My brother has taken over as executor to pay bills. As one of eight siblings I've asked several times how the bills are being paid. Do we have the right to know how the bills are paid?"

Links & Resources Get your copy of A Caregiver's Legal Guide to Planning for a Loved One with Chronic Illness

2018 Walk to End Alzheimer's - Brighton, MI

TheElderCareFirm.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Download one of our free reports to help you start planning

Follow us on Social Media Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

The Caregiver's Legal Guide Planning for a Loved One With Chronic Illness: Inside Strategies to Plan for Medicaid, Veterans Benefits and Long-term Care

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The biggest mistake in estate planning is doing no planning at all.

Everybody makes mistakes, but when those mistakes are made in estate planning they cause a lot of struggle, anguish, and can cost a lot of money. Instead of going through all of that, why not make your plans now so you can avoid all of that pain later?

In this episode of The Chris Berry Show, I’m going to share the biggest tax mistake people make when it comes to retirement and the most common estate planning mistakes we see in our office.

In this episode, you’ll learn... * Some exciting things happening on the personal front. * Why the Alzheimer's Association is so important to Chris and how his office was able to raise just over $3,000 to help support them. * What to expect from one of our Tax-Free Retirement Workshops. * The biggest tax mistake most people make when it comes to retirement. * The interesting parallel between Brazilian Jiu-Jitsu and tax planning or financial planning. * How a CELA or certified elder law attorney is like the black belt when it comes to legal knowledge. * Why any random attorney isn’t going to be able to help you with the intricacies of estate planning. * Guests you can look forward to in future episodes. * 5 of the 10 most common estate planning mistakes that we see in our office. * What dying intestate means and how to avoid it. * Why it’s so important to avoid probate. * The problem with having just a basic "I Love You Will" * Why relying on a will is not going to help you avoid probate. * The problems that giving property outright causes. * Why owning property jointly with someone other than a spouse is such a big problem. * Why not having a trust at all is a much bigger problem than most people think.

Q&A In each episode, I take questions from listeners. If you do have any questions that you want answers to, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Lucy asked: "Can my son add his siblings to our joint deed without permission?"
  • Joseph asked “How long does it take for informal probate? My mom died in 2014, my younger brother and sister filed for informal probate with themselves as the representatives in January 2017. They did this without prior notice to the other heirs, and are not keeping the heirs notified of their actions. My brother is using the real estate for his own personal use. He and my sister took out a private loan to get the house out of foreclosure, and that note is coming due. As far as I know, none of the property has been appraised. How long do they have to complete probate or do I need to hire and attorney to force them to get busy on this estate?”
  • Leonard asked “Does my Living Trust protect from nursing home spend out. My wife and I set up a trust nine years ago, are the assets in the trust protected from nursing home spend down?”

Links & Resources 2018 Walk to End Alzheimer's - Brighton, MI

TheElderCareFirm.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Download one of our free reports to help you start planning

Follow us on Social Media Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

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You may be familiar with the term “estate planning” but are you familiar with elder law?

Estate planning and elder law may sound boring, but when you realize how much money, pain, and suffering it can save you and your family, I think you’ll see how important and helpful it can be.

In this inaugural episode of The Chris Berry Show, I’ll show you behind the scenes of what estate planning and elder law really looks like and what it can do for you.

In this episode, you’ll learn... * How Chris got started in elder law & estate planning. * Why estate planning is focused on planning and protecting on a very personal level. * How Chris’ law firm helps clients navigate the long-term care journey including home care, assisted living, and nursing home care. * Where most people are missing an important step between retirement planning and estate planning. * How elder law isn’t just planning for what happens if you pass away. It’s making sure that you have the best quality of life possible as you go through retirement and your second half of life. * Trusts, wills, and financial powers of attorney are just tools and what matters is that you use them to fit with your goals. * How you can avoid probate and why that’s so important. * Why you need a holistic plan and not just an estate plan. * How Chris helped his client avoid paying $10,000/month out of pocket for her husband’s care. * What Medicaid crisis planning strategies are and when they can be used. * How Chris tapped into a little-known benefit to pay for assisted living for 2 of his clients.

Q&A In each episode, I take questions from listeners. If you do have any questions that you want answers to, feel free to email us at askchris@thechrisberryshow.com. Here are the questions I covered in this episode:

  • Alex asked: "I have ten rental properties in my name. Why would I want to change them into an LLC?"
  • Kimberly asks, "I'm supposedly listed as a secondary power of attorney for my mom. Am I legally able to see any papers with my name on it?"
  • Ray asked, "How can I gain access to my father's bank accounts? He passed away and his name is the only one on the account. Need to pay bills and funeral costs."

Links & Resources Get your copy of A Caregiver's Legal Guide to Planning for a Loved One with Chronic Illness

TheElderCareFirm.com

CJBerryGroup.com

TheChrisBerryShow.com

Michiganestateplanning.com

Register for one of our free estate & asset protection workshops

Download one of our free reports to help you start planning

Follow us on Social Media Twitter: www.twitter.com/ElderCareFirm

Facebook: www.facebook.com/chrisberryshow

LinkedIn: www.linkedin.com/in/christopherjberry

The Caregiver's Legal Guide Planning for a Loved One With Chronic Illness: Inside Strategies to Plan for Medicaid, Veterans Benefits and Long-term Care