#292 - Ryan Heath - Founding Attorney @ Baker Heath, PLLC - Estate Planning 101

Ryan is a trust and estates attorney. He represents entrepreneurs, families, and financial institutions with a primary focus on shouldering his clients’ problems and helping them achieve their objectives.  On this episode, Ryan and Chris discuss: ➡️ the 6 Basic Estate Planning Documents ➡️ how parents can set up plans for their children ➡️ succession planning for family businesses ➡️ using trusts in PE investments We'd appreciate you filling out our audience survey, so we can continuously work on providing relevant content to our listeners.  https://www.thefortpod.com/survey Additional Resources 👉 Baker Heath 👉 Contact Ryan: 817.769.2745 👉 Email Ryan: [email protected] 👉 The 6 Basic Estate Planning Documents Deep Dive Videos 👉 Estate Recommendations based on Net Worth ➡️ Fort Capital: https://bit.ly/FortCapital ➡️ Follow Fort Capital on LinkedIn: www.linkedin.com/company/fort-capital/ ➡️ Follow Chris on Twitter: https://bit.ly/3BYIjcH ➡️ Follow Chris on LinkedIn: www.linkedin.com/in/chrispowersjr/ ➡️ Sign Up for our Newsletter: https://newsletter.thefortpod.com/ ➡️ Subscribe to The Fort on YouTube: https://bit.ly/3oynxNX Timestamps (00:03:27) Ryan’s background and career (00:05:15) The 6 Basic Estate Planning Documents (00:08:10) Planning parents can do for their young kids (00:15:27) When you should be revisiting your plan? (00:17:53) Are there any functions within a trust that kick in before a child becomes an adult? (00:19:03) What happens when a beneficiary is incapable of managing money? (00:22:52) Handling planning when you have multiple children (00:30:01) Succession planning for businesses (00:46:26) Adjusting plans when a loose cannon marries into the family (00:53:00) Planning at different levels of net worth (01:02:06) Money by surprise scenarios (01:07:01) Controlling from the grave (01:11:03) Scenarios when you’re worth >$100 million (01:13:48) Transferring Real Estate (01:17:38) Twitter Questions (01:20:47) Using Trusts in PE Investments (01:23:27) Vertical Slicing for Fund Managers -- The FORT Podcast with Chris Powers is a place where you can find meaningful conversations about entrepreneurship, real estate, investing, and more. Be sure to follow the podcast, so you never miss an episode! The FORT is produced by Johnny Podcasts