{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Trust Company Talks","title":"Why Your Outdated Estate Plan Could Be Costing Your Family: A Conversation with Westray Veasey and Chris Hewitt","html":"","width":"100%","height":180,"duration":3112,"description":"Many people created their estate plan years ago and haven't touched it since. But estate planning law has changed dramatically in that time. The estate tax exemption alone has significantly increased, and the Secure Act fundamentally changed how retirement accounts pass to your children and grandchildren. If your plan predates these changes, it may be working against your family's interests rather than protecting them.\n\nOn the newest episode of Trust Company Talks, hosts Bill Noble and Burke Koonce talk with Westray Veasey, J.D., Chief Fiduciary Counsel and Principal at Trust Company of the South, and Chris Hewitt, J.D., Fiduciary Counsel, about the two biggest changes in estate planning over the past two decades. Together, they explain not just what has changed, but how those changes affect the decisions you make today.\nEstate tax exemptions have nearly tripled since 2012, but that doesn't mean smaller estates don't need planning. The real shift now is toward managing income tax consequences when assets transfer to the next generation. Add the Secure Act's 10-year distribution requirement for most beneficiaries who aren't spouses, and retirement accounts become a tax crisis for families who haven't planned for it. \n\nBeyond the numbers, Westray and Chris address the human side: \nWhat happens when you don't have a will\nWhat to include in a modern estate plan beyond just a will\nWhy outdated plans can inadvertently disinherit your spouse\nHow business owners need to plan differently as their companies grow\nHow to talk with your family about your plan before you're gone\nYour estate plan should reflect the law and your life as it is now, not as it was a decade ago. This episode explains what's changed, what you need to do about it and why the Trust Company approach to estate planning makes a difference. \nTo help you move from conversation to action, Trust Company has created two companion resources. The Estate Planning Checklist breaks down the tasks you should...","thumbnail_url":"https://img.transistorcdn.com/f5BlDJLziLT_j2PJ3x_DEkFMuQMLO5CZMcsPmT6tzM8/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9zaG93/LzQ5NjgyLzE3MDc3/NjMwMTQtYXJ0d29y/ay5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}