Welcome to this exciting episode of the Wealth Movement Podcast!

Join us on this new episode of the Wealth Movement Podcast as estate planning attorney Hanna Yang joins me.

Here is a little bit of information about my guest: Hanna Yang is an associate attorney at BarthCalderon LLP. Her practice includes estate planning, probate, and trust administration. Before establishing her estate planning practice, Hanna practiced law for over 17 years in the military and currently serves in the U.S. Air Force Reserve. Hanna received her Bachelor of Arts from the University of California, Berkley, and her Juris Doctor from Boston University School of Law.

In this jam-packed episode, you will hear why Hanna emphasizes the importance of estate planning, or as I like to call it, Legacy planning. She shares why estate planning is vital for individuals regardless of their financial status or age. Together in our conversation, we delve into the complexities of estate planning, the implications of neglecting it, and shed light on the process of transferring wealth. We also explore the influence of federal laws on estate plans and briefly touch on the new Corporate Transparency Act and how it affects business owners.

Our conversation underlines the importance of having transparency in estate planning between family members and why communication is important in leaving a legacy.

Please remember to like, subscribe, and share this episode with others who may find it helpful! If you have any questions or need advice about your money decisions or just have a general financial question, click on the following link to chat >> ⁠⁠I have a financial question and I need human advice⁠ With Gratitude and Appreciation, Kristoffer Fu

Episode Resources Hanna Yang, Esq | LinkedIn Page

Hanna Yang, Esq | Telephone 714-704-4828 ext. 117

Link to file and comply with the new Corporate Transparency Act

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Episode Timeline

00:00 Introduction to Legacy Planning

00:23 The Importance of Estate Planning

00:42 Meet the Expert: Hannah Yang

01:20 Personal Journey into Wealth Management

03:00 Getting to Know Hannah Yang

03:23 The Intricacies of Estate Planning

05:55 Hannah's Personal Journey and Expertise

11:20 The Importance of Estate Planning for Young Families

14:42 The Risks of Not Having an Estate Plan

19:07 When to Consider Estate Planning

23:33 The Pitfalls of Improper Wealth Transfer

28:19 Understanding the Importance of Estate Planning

28:58 The Role of Trusts in Estate Planning

29:43 The Impact of Losing a Spouse on Estate Planning

32:58 Involving Children in Estate Planning

38:40 Asset Protection and Estate Planning

44:23 The Corporate Transparency Act and Its Impact on Business Owners

48:09 Final Thoughts on Estate Planning