Big Picture Retirement

Beneficiary designations seem straightforward at first glance. Just fill out a form naming the people you wish to inherit your account in the event that you pass away.  Seems simple enough, right? What lurks in the background is some nuance contained within these designations that may result in unexpected outcomes. Two examples: -Not properly designating per stirpes vs. pro rata can actually lead to accidentally disinheriting members of your family that you had NO intention of cutting out -Leaving a trust as the beneficiary can be the perfect solution or the worst solution (depending on the language in your trust) In this episode, John and Devin discuss how to ensure your assets will be passed in accordance with your desires (without leaving a tax bomb as a parting gift).  Although this show does not provide specific tax, legal, or financial advice, you can engage Devin or John through their individual firms.  Contact Devin’s team at https://www.carrolladvisory.com/  Contact John’s team at https://www.rossand

There are a few rules of thumb that should never be ignored, but you should always question if they are right for you and your unique situation.  Although this show does not provide specific tax, legal, or financial advice, you can engage Devin or John through their individual firms.  Contact Devin’s team at https://www.carrolladvisory.com/  Contact John’s team at https://www.rossandshoalmire.com/ 

If you've accumulated non-business assets like a second home or large brokerage account, there are steps you can take to protect those assets. Although this show does not provide tax, legal, or financial advice, you can engage Devin or John through their individual firms.  Contact Devin’s team at https://www.carrolladvisory.com/  Contact John’s team at https://www.rossandshoalmire.com/

Our "farewell" episode was published in late 2019. We knew then that at some point we'd start recording again, but we had NO IDEA it would take this long. With that said, we're so excited to be back and can't wait to get back in your regular podcast feed.  Thanks so much for sticking around.

Bear markets bring about a lot of uncertainty. But with the right focus, this can be a time of massive opportunity. In today's episode Devin and John talk about why the current mixture of environments presents a perfect opportunity. 

How does the Coronavirus affect your Social Security benefit and overall retirement income? In today's show Devin and John are covering the ripple effect and talking about what you need to do.

How will the the Secure Act impact your retirement plan? In this special episode Devin and John discuss the widely-reported basics of this new law and then cover some of the the advanced planning opportunities that will now be available.

It’s been a wonderful ride and we want to thank everyone for listening to the Big Picture Retirement Show. The success of John’s business (rossandshoalmire.com/elderlaw-attorneys) and Devin’s YouTube channel (youtube.com/devincarroll) have created as shortage of time to record new episodes. If you’d like to stay in touch, please join the Facebook group: bigpictureretirement.com/facebook

When it comes to rental property, you have to protect yourself in two ways: Your business from your personal issues, and your personal life from your business issues. This week, Devin and John talk about the ways to protect your real estate interests. For more information, visit the show notes at https://www.bigpictureretirement.com/118

Not long ago, Devin and his brothers inherited some property. Thankfully, this deal went pretty smoothly because they all wanted to sell it. However, not all inheritances go as smoothly. Knowing about the Uniform Partition of Heirs Property Act should make you want to go back to your estate plan, and see how you can amend your estate plan to avoid these potential conflicts. For more information, visit the show notes at https://www.bigpictureretirement.com/117

When you're talking about estate planning, and the care of pets, some interesting things can happen. It's not uncommon for people to want to provide for their pets in their wills, whether designating the person who will care for the pet, or providing money to care for the pet. There used to be a lot of pitfalls when creating plans for pets. Technically, an animal is property and the animal has the same legal rights as any other property (like a couch). This is really hard for animal people to comprehend. Get the information you need by listening to this episode. For more information, visit the show notes at https://www.bigpictureretirement.com/estate-planning-for-pets

Is it possible that your heirs might disagree with your will? There are many things you can do to reduce or even eliminate fights after you are gone. In this week's episode, elder lawyer John Ross talks about the dos and don'ts of writing a will when you think there might be conflict between your survivors. For more information, visit the show notes at https://bigpictureretirement.com/115

This week's episode includes some reader questions, and a review of the The Setting Every Community Up for Retirement Enhancement Act of 2019 (the SECURE Act). The SECURE Act has passed the House of Representatives, and a similar bill is working in the Senate. For more, visit the show notes at https://www.bigpictureretirement.com/5-things-to-know-about-the-secure-act-of-2019 

Current reports show there will only be enough money coming into Social Security to pay about 75% of Social Security Benefits. Even if we have record-setting economic numbers, we're very close to being too little, too late. Can a President make changes quick enough to solve the problem? Devin explains how one change can solve the problem, and how other ideas only partially keep Social Security solvent. For more information, visit the show notes at https://www.bigpictureretirement.com/113 

90% of contested probate cases were between the surviving wife and the children of the deceased man. We received an email from a listener whose widowed father met a new woman and let her into his life. However, the kids have some concerns about the new friend, and a little research has shown some concerning information about this person. There is a very specific routine of how people commit elder abuse. Listen as John spells out the secrets of the Financial Abuser's Playbook. For more information, visit the show notes at https://www.bigpictureretirement.net/112 

Spring is here, and it's a great time to do some financial spring cleaning. Devin and John go over a few things you want to do: A fee audit Double-check your beneficiary designations. ...and more For more information, visit the show notes at https://www.bigpictureretirement.net/111 

"Medicare for All" has been in the news a lot lately. Senator Bernie Sanders thinks insurance companies should be abolished and everyone should get Medicare. So this week, Devin and John talk about the pros and cons of different ideas about expanding Medicare coverage to folks of lower ages. For more information, visit the show notes at https://www.bigpictureretirement.net/110 

An exclusive interview with Congressman John Larson about the proposed changes to Social Security in the SS2100 Act. For more information, visit the show notes at https://www.bigpictureretirement.net/109 

A trust is a legal entity, just like a corporation or an individual person. All trusts will have an exchange of property and three categories of people: The people who create it, called the grantors, or the settlers, or the trust-makers The people in charge of the trust, usually called the trustees The beneficiaries: the people who get the benefit of the trust Devin and John go over the different types of trusts and when to use them. For more information, visit the show notes at https://www.bigpictureretirement.net/108 

Are illegal immigrants going to cause the collapse of the Social Security system? The Social Security trustees reports that more immigration is a benefit to the system. Devin and John of Big Picture Retirement look at both sides and get to the truth behind Illegal Immigration and Social Security. For more information, visit the show notes at https://www.bigpictureretirement.net/107