Episode Summary

Attorney Daniel Bernard addresses common beneficiary designation mistakes that can disrupt estate plans in New York and Florida. The episode explores how incomplete or poorly planned beneficiary designations can lead to probate delays, liquidity issues, or unintended tax consequences, particularly with retirement accounts under the Secure Act. It highlights the role of trusts in managing complex family dynamics, protecting assets for minors, and ensuring equitable distribution, emphasizing the need for professional guidance to avoid costly errors.

00:00 - Show Introduction and Welcome

01:30 - Understanding Beneficiary Designations

05:00 - Risks of Incomplete Beneficiary Designations

09:00 - Why Beneficiaries Are Not Enough

13:00 - Risks of Naming Minors as Beneficiaries

17:00 - Dangers of Relying on One Beneficiary

21:00 - Tax Implications of Retirement Accounts

25:00 - Horror Stories of Beneficiary Mistakes

29:00 - Benefits of Trusts as Beneficiaries

33:00 - Planning Ahead to Avoid Last-Minute Issues

37:00 - Conclusion and Call to Action

Estate Planning with Bernard Law is a podcast dedicated to simplifying estate planning for individuals and families in New York and Florida. Featuring attorney Daniel Bernard, the show provides expert insights into wills, trusts, probate avoidance, and beneficiary planning. Through clear explanations and practical advice, the podcast empowers listeners to protect their assets and secure their family’s future.

Attorney Daniel Bernard explores the role of trusts in estate planning, focusing on the differences between revocable and irrevocable trusts in New York and Florida. The episode explains how trusts help avoid the costly and time-consuming probate process, protect assets for long-term care through Medicaid eligibility, and address the rising care needs of the baby boomer generation. It also covers common pitfalls of DIY trusts and the importance of professional guidance to ensure effective estate planning.

00:00 - Show Introduction and Welcome

01:30 - Differences Between Trusts and Wills

05:00 - Revocable vs. Irrevocable Trusts

09:00 - Long-Term Care and Medicaid Planning

13:00 - Impact of Baby Boomers on Care Costs

17:00 - Who Needs a Trust

21:00 - Funding Trusts to Avoid Probate

25:00 - Control and Flexibility in Trusts

29:00 - Trusts and Asset Protection

33:00 - Costs of Setting Up Trusts

37:00 - Mistakes in DIY Trusts

41:00 - Conclusion and Call to Action

Estate Planning with Bernard Law is a podcast dedicated to simplifying estate planning for individuals and families. Featuring attorney Daniel Bernard, the show provides expert insights into trusts, wills, probate avoidance, and long-term care planning. Through clear explanations and practical advice, the podcast empowers listeners to protect their assets and build lasting legacies in New York and Florida.

Episode Summary: In this episode of Estate Planning with Bernard Law, estate planning attorney Daniel Bernard, who helps families in New York and Florida protect their assets and secure their future. Daniel dives into the unique estate planning challenges faced by “snowbirds”—individuals who split their time between two states, often New York and Florida.

From understanding domicile rules and residency audits to avoiding probate in multiple states, Daniel explains why snowbirds need a carefully tailored estate plan. He also discusses how trusts, health care directives, and powers of attorney must be adapted to ensure seamless administration across state lines.

Whether you’re considering retirement in Florida, already living as a snowbird, or planning to own property in multiple states, this episode provides actionable insights to simplify your estate planning and protect your loved ones.

Key Timestamps:

00:33 – What is a snowbird, and why does it complicate estate planning? 01:54 – Which state controls your estate if you live in more than one? 03:12 – Why some New Yorkers change their domicile to Florida 04:16 – How to legally prove Florida residency (and why New York fights it) 06:05 – The 183-day rule and how New York taxes snowbirds 08:19 – Why owning homes in two states can create dual probate 09:42 – How trusts help avoid probate in New York and Florida 11:08 – Are health care directives valid across states? 12:25 – Why snowbirds should have state-specific health care documents 13:29 – Florida’s homestead protection and its impact on trusts 15:21 – When to update your estate plan before moving to Florida 16:46 – Why milestone life events (like retirement) require estate plan reviews

About the Show: Estate Planning with Bernard Law is a practical, accessible podcast that helps families protect their assets and avoid unnecessary court battles. Featuring New York and Florida attorney Daniel Bernard, each episode covers the real-world questions and concerns that come up around wills, trusts, guardianship, and probate.

Connect with Daniel Bernard:

• Website: bernardestateplan.com
• Practice Areas: Wills, Trusts, Probate Avoidance, Asset Protection
• Locations: Serving clients in New York and Florida

Resources & Links:

• Download Daniel’s Book: Estate Planning for Snowbirds – Available on Amazon or free at his office
• Learn More: bernardestateplan.com

Episode Summary: In this debut episode, estate planning attorney Daniel Bernard explains what actually happens when someone dies without a comprehensive estate plan, and why having a will alone often isn’t enough. Daniel and host Kevin Rosenquist discuss the difference between probate and non-probate assets, the role of trusts, and how to avoid the costly and time-consuming probate court process. Daniel also shares what documents every adult should have in place and why families are often surprised, both for better and worse, when a loved one passes away.

Key Timestamps:

00:42 – What happens when someone dies with no plan or just a will

03:36 – What is the difference between probate and non-probate assets?

05:55 – Who inherits by default if there's no will?

08:48 – Why a will doesn’t keep you out of court

10:59 – How trusts work and why they help you avoid probate

13:28 – Why every adult needs a healthcare proxy and power of attorney

15:46 – What surprises families the most during probate

17:38 – The limits of joint accounts and outdated beneficiary designations

19:29 – Why Daniel chose estate planning over litigation

21:16 – Why people delay estate planning, and why they shouldn’t

22:55 – The first step: how to start your estate plan

About the Show: Estate Planning with Bernard Law is a practical, accessible podcast that helps families protect their assets and avoid unnecessary court battles. Featuring New York and Florida attorney Daniel Bernard, each episode covers the real-world questions and concerns that come up around wills, trusts, guardianship, and probate.

To Connect with Daniel Bernard: Visit bernardestateplan.com Call: (631) 378-2500 Email: info@bernardestateplan.com