Estate Planning for Everyone, with Andrew Weinhaus

Today, we’re talking with Andrew Weinhaus about why you need an estate plan.  He’s an attorney who has worked in estate planning for 30 years. That means he knows it like the back of his hand. So, you get the tremendous value of hearing about estate planning in a way that’s relatable, plain and simple!

Do you wonder what happens to all of your stuff when you die?  Have you heard of estate planning, but are not really sure what it is and whether it’s for you? 

No need to share your answers, but … pssst … this episode is for you!  Here’s a sneak peek into estate planning from a distance. It’s like browsing, but without the annoying sales clerk asking if you’ve found everything you didn’t even know what you were looking for in the first place. 

You can dip your toe in to find out if it’s really as scary and overwhelming as you thought. I promise, you’ll feel less out of place and more at home in the estate planning conversation. So, whenever and however you decide to move ahead, you’ll feel better about those uncomfortable conversations.

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This conversation will help you make sense out of the basics. That means you’ll know the why and the end goal. Those two things will automatically vacuum out the ambiguity in the process.

So if you want to understand what an estate plan is and does, see how it’s relevant to your life to do the long-term planning, and differentiate whether this is an important thing to take action on so you can feel the benefit of planning before you embark on the journey, tune in now!

In this episode on estate planning, you’ll find out:

1. The two main reasons you need an estate plan: if you can’t make decisions, and if you die.
2. The four reasons you want to avoid probate: cost, time-intensity, publicity, and creditor rights.
3. Why you might want to pay for your parents’ estate planning.
4. The basic components of an estate plan and what they do: a medical directive, a power of attorney, a revocable living trust, and a pour-over will.
5. The cost of an estate plan is often much less than the cost of probate. The difference is whether you pay a fixed, known cost now, with an attorney who is a trusted advisor, or a potentially much higher cost later with an attorney you can’t choose.
6. Concerns with real estate, businesses, and investments without an estate plan.
7. How life insurance is the perfect equalizer to allow you to transfer family assets without having to liquidate.
8. Why titling your assets correctly is one of the most critical steps of estate planning that most people miss.
9. Why estate planning spells out exactly what you want to happen.
10. How to plan for the care and financial needs of minor children.
11. Why your estate plan can never be perfect and how to get it done anyway.

Where Estate Planning Fits into Your Cashflow Creation System

Encircling your family and assets with a bulletproof estate plan will maximize your peace of mind.  But it’s just one small step of a greater journey.  

That’s why we’ve put together the 3-step Entrepreneur’s Cash Flow System.  

The first step is keeping more of the money you make.  This includes tax planning, debt restructuring, cash flow awareness, and restructuring your savings so you can access it as an emergency/opportunity fund.  This step frees up and increases your cash flow, so you have more to save, and consequently, more to invest.

Then, you’ll protect your money with savings, privatized banking and legal protection.  This is where estate planning fits in.  You’ll know that no matter what happens to you, your wishes will be carried out, your assets will remain intact, and your wisdom will empower generations after you. 

Finally, you’ll put your money to work and get it to make more by investing in cash-flowing assets to build time and money freedom and leave a rich legacy.

Who is Estate Planning Attorney Andrew Weinhaus?

Andrew Weinhaus is the managing member of The Law Office of Andrew Weinhaus, LLC, a Clayton, Missouri based law firm. His practice focuses exclusively on estate planning, tax strategies, and business succession for closely-held entities. Mr. Weinhaus is a member of the Missouri Bar Association. Mr. Weinhaus serves on the adjunct faculty for Washington University’s graduate tax law program teaching a course on advanced deferred compensation.

Mr. Weinhaus is a graduate of Washington University in Saint Louis, Missouri. He received his Juris Doctoris in 1990 and his LL.M. in Taxation in 1998. Mr. Weinhaus practiced in the Tax Department of the Saint Louis office of Coopers & Lybrand, LLP (now PriceWaterhouseCoopers, LLP). There, he specialized in the representation of closely-held business entities and their owners for tax and wealth transfer planning matters.

Then, in 1993, Mr. Weinhaus joined the Advanced Underwriting Department of General American Life Insurance Company, a subsidiary of MetLife.

For over 10 years, as Vice President of Advanced Sales and Marketing, Mr. Weinhaus was involved in wealth transfer planning and business succession strategies for closely held business entities on a nationwide basis.

Mr. Weinhaus is the author of a text on estate planning, Generation-Skipping & Life Insurance, originally published by General American Life Insurance Company in 1995.

Book A Strategy Call

Are you ready to take control of your finances and legacy? We offer two powerful ways to help you create lasting impact:

Legacy Strategy Call – If you want to uncover your family values, mission, and vision, and create a legacy that’s about more than just money, we can guide you through the process of financial stewardship and family leadership. Save time coordinating your family’s finances while building a legacy that lasts for generations. Book a Legacy Strategy Call to learn more about how we can help.

Financial Strategy Call – Discover how Privatized Banking, alternative investments, tax-mitigation, and cash flow strategies can accelerate your time and money freedom while improving your life today. Let us show you how to align your financial resources for maximum growth and efficiency. Book a Strategy Call with our team today.

Thanks for Tuning In!

Thanks so much for being with us this week.

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