Estate Planning for Everyone, with Andy Weinhaus

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.

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:

Estate Planning for Everyone, with Andrew Weinhaus
  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.  

Legal Security and Estate Planning

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.

Estate Planning for Everyone, with Andrew Weinhaus

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.

Find Out Your Next Step to Time and Money Freedom

If you would like to assess your complete financial picture and find your personal best strategy to maximize your cash flow and control, we can help.

By the way, do you want to learn more about Privatized Banking? We have a free Quick and Easy Privatized Banking Guide that outlines just how Privatized Banking gives you the most powerful storage tank for your cash, PLUS it boosts investment returns, so you can more quickly get to the point where you never run out of cash.

Now, if you are ready to personally implement Privatized Banking, alternative investments, or cash flow strategies to keep more of the money you make, book your strategy call with The Money Advantage advisors today.

Thanks for Tuning In!

Thanks so much for being with us this week.

First, we would love to hear what you think. Was this helpful? Do you have questions? If so, please leave a note in the comments section below!

Next, don’t forget to subscribe to the show to get automatic episode updates for The Money Advantage podcast!

And, finally, if you like these conversations about building time and money freedom, please rate and review our show on Apple Podcasts to help more people like you find our show. 

Rachel Marshall

Rachel Marshall is the Co-Founder and Chief Financial Educator of The Money Advantage and President of Marshall's Insurance and Financial Services. She is known for making money simple, fun, and doable. Rachel has built a team of licensed professionals (investment advisors, insurance agents, attorneys, tax strategists) to help her clients create time and money freedom with cash flow strategies, Privatized Banking, and alternative investments. Rachel is the co-host of The Money Advantage podcast, the popular business and personal finance show. She teaches how to keep more of the money you make, protect it, and turn it into cash-flowing assets.
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