Financial Planning – Page 5 – The Wealth Stream Podcast

74. How to Secure a Future For Your Special Needs Child With Keith Wolak

By thewealthstreampodcast | October 6, 2021

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Setting up a special needs trust for your child with special needs is always a tough conversation to have. But having that conversation in the first place goes a long way in easing stress about the future.

In this episode, Tim Scannell is joined by Keith Wolak, an attorney and Certified Public Accountant at Hoeppner Wagner & Evans LLP for a conversation around special needs trusts. Keith speaks about both trusts and special needs trusts, and examines the risks and benefits of each, and how they work.

Keith discusses:

The difference between a trust and a special needs trust
The variance in special needs laws in different states, and why it’s important to speak with someone in your state about the laws
The process of setting up a special needs trust
Why creating a plan and having a conversation about special needs trusts is important
And more

Resources:

Advanced Planning Part 2 – Asset Protection for Special Needs Beneficiaries

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Connect With Keith Wolak:

About Our Guest:

Keith Wolak, an attorney and Certified Public Accountant, focuses his practice on estate and tax matters, which includes matters relating to minimizing estate taxes through wealth transfer contingency planning, as well as addressing fiduciary appointment. Mr. Wolak is a Board Certified Indiana Trust and Estate Lawyer, certified by the Trust and Estate Specialty Board. He has counseled clients on the various ways to effectively transfer wealth, including the use of Irrevocable Life Insurance Trusts, Testamentary Trusts, and Revocable Trusts. Mr. Wolak also prepares gift and estate tax returns. His work also includes representing estates in probate.

73. Five Key Financial Concerns for The Wealthy

By thewealthstreampodcast | September 22, 2021

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Many people share similar concerns about their finances, like ensuring you have enough money to meet all your monthly needs, and ensuring you have enough money to retire comfortably. But what about the wealthy? Are there specific financial concerns that only pertain to them?

In this episode, Tim Scannell looks at five financial concerns he regularly hears people are concerned about. Tim discusses wealth preservation, wealth enhancement, wealth transfer, wealth protection, and giving to charity as key concerns for the wealthy, and shares his insight about how to approach each concern.

Tim discusses:

Why “wealth” is more than just the amount of money in your bank account
Why clients are so concerned about wealth transfer
Why, as a business owner, you need to be concerned about wealth protection
How you can create a more impactful gift to charity
And more

Resources:

62. How to Minimize the Tax Impact of Your Business Sale

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Episode 65 – Explore, Learn, and Interact From the Comfort of Your Home

By thewealthstreampodcast | June 2, 2021

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At a year under lockdown, new and innovative virtual platforms have now made several opportunities accessible from the comfort of your home.

We believe that this virtual trend is here to stay.

In this episode, Tim Scannell takes a break from the financial planning side of things. Instead, he shares exciting virtual opportunities that he has either experienced firsthand or learned from his clients. Whether it’s traveling, learning, exploring nature, or attending various eating and drinking events – the virtual world has a variety of amazing things to offer.

You will learn:

How modern VR technology provides an unbelievably realistic travel tours
Interesting online events that you can attend to enrich your eating & drinking experience
Why virtual kid-friendly programs are a great way to instill curiosity and a passion for learning in your children
How globally renowned universities are extending useful e-learning resources
And more!

Tune in to learn how you can pursue your passion or hobbies through the new virtual world!

Episode 64 – Can You Afford a Pet? – With Samantha Pietruszynski

By thewealthstreampodcast | May 19, 2021

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Have you heard of the “pandemic puppy?” The pet adoption rates saw a sharp spike during COVID-19. After all, a furry friend would make the lockdown less lonely, right?

But – owning a pet comes with several financial responsibilities!

In this episode, Samantha Pietruszynski, an associate wealth advisor at Hightower Great Lakes, helps you navigate through life as a pet owner. Samantha shares her own experience in raising two pets, a cat and a dog, and discusses some of the major costs involved, both upfront and ongoing. She also provides several tips to help you budget for these costs so that you can make sure your pet gets everything it needs!

You will learn:

Why Samantha is a big fan of adoption vs. buying from a breeder
The importance of obedience training to avoid long-term behavioral issues
How subscription services significantly cut down your ongoing costs like food and toys
Ways to ensure that your pet gets a healthy amount of social interaction
Reasons to get pet insurance as early as possible
And more!

Tune in to better understand the financial implications of owning a pet!