ER Doc Advisor - Financial Planning & Taxes for Emergency Physicians

EP 130: Death by Taxation Without Representation

One of the most annoying “to-do list” items has to be setting aside time to prepare for what happens to your wealth after you die. That’s what an estate plan is, after all – the instruction manual for your hard-earned life’s wealth. Neglecting it, or potentially worse, misdirecting it can be costly to you or those who are set to receive your assets. And that’s only on one part of the equation (assets passing to your heirs). Remember that you may be receiving assets that may or may not have been planned for properly.

On today’s episode, we highlight an example of what can happen when assets pass between generations incorrectly and get into the important differences between beneficiary designations you may not be aware of.

Topics Discussed:     
  • How much Baby Boomers are expected to pass onto their children.
  • Trends happening that will affect the inheritance of many.
  • What probate is and the disadvantages it includes.
  • What people often don’t understand about wills and inheritance.
  • Where a client went wrong and made inheritance more difficult.
  • What a revocable living trust is and why it’s helpful.

Resources Mentioned:


ER doctors, emergency medicine, emergency medicine, finances after death, wealth planning, financial planning, probate court, taxes,