Tag: Estate Planning
LGBTQ+ Legal Planning: Protecting Your Rights if Marriage Equality Is Overturned (Ep. 30)

LGBTQ+ Legal Planning: Protecting Your Rights if Marriage Equality Is Overturned (Ep. 30)

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In this episode, Michelle Gessner, CFP®, welcomes attorney Lorie Burch for an important conversation on estate planning for LGBTQ+ families, especially in Texas. Lorie shares her personal experience with reciprocal IVF and the surprising legal reality that birth certificates alone don’t guarantee parental rights. They explore why second-parent adoption is essential and how shifting laws—like a possible overturn of marriage equality—could impact families.

The discussion also highlights the risks of using online DIY estate planning tools or handwritten wills, which often fail due to improper execution. Lorie outlines what to look for in a qualified estate planning attorney and explains why revocable living trusts are becoming more popular for privacy and avoiding probate. Whether you’re part of the LGBTQ+ community or not, this episode offers practical advice to help protect your loved ones and avoid legal complications down the road.

What to expect from their conversation:

  • Parental rights for LGBTQ+ couples in Texas
  • The importance of estate plans that account for shifting legal landscapes
  • Holographic (handwritten) wills and how they often fail in court
  • Why same-sex couples might want to consider obtaining a marriage license from protective states for added security
  • Real examples of planning mistakes and how to avoid them
  • And more!

Resources:

Connect with Michelle Gessner: 

Connect with Lorie Burch:

About Lorie Burch:

Lorie owns a Dallas law firm that primarily focuses on estate planning, including wills, trusts, powers of attorney, probate, and business law. Burch Law has been awarded 3 years in a row as one of the 500 fastest-growing small law firms in the country, which is a testament to our team and how we’ve been able to help more families and individuals with this vital planning. 

Lorie has engaged in many civic and community organizations and advocacy. She currently serves on the Leadership Plano Board of Directors and is the Chair of the Diversity Advisory Committee for Leadership Plano. In 2018, she ran for United States Congress for the 3rd District of Texas. Lorie served as the 2013-2014 National President for the Board of Directors of the American Business Women’s Association. She is also the past Chairwoman of the Board for the North Texas LGBT Chamber and was formerly the Co-Chair of the DFW Human Rights Campaign Steering Committee. 

This year, Lorie was voted as Dallas’ Best Civil/Family Law Attorney by readers of the Dallas Voice for the 6th time! In 2024, Burch Law was awarded “Best Marketing Ad Campaign” by Plano City Lifestyle Magazine. In 2022, Burch Law was honored as Business of the Year by the North Texas LGBT Chamber. Additionally, Lorie was honored by the Dallas Business Journal as a 2013 Women in Business. She was recognized as one of the 2010 Top Ten Business Women for the American Business Women’s Association. In 2007, Lorie was awarded the North Texas LGBT Chamber Business Person of the Year. 

About Michelle Gessner: 

As a CERTIFIED FINANCIAL PLANNER™ professional, Michelle is passionate about building a life plan for her clients and helping them see that they have choices, which often comes to them as a pleasant surprise. She is an independent thinker and a huge advocate of her clients’ interests. Her greatest joy is working to do what is right for them and being their voice.

Michelle has a B.S. in Finance from the University of Colorado, Boulder, and an M.S. in Management from Boston University, Brussels. Growing up in Montana and moving to Colorado for college, she took out student loans and worked her way through all four years. After graduating in 1987 with honors, she accepted a job at Shell Oil in Houston and worked her way up the corporate ladder to a management position before leaving in 1992 for Brussels, Belgium, where she lived for 4 years. In Brussels, she learned about different cultures and basic conversational French, as well as pursuing and earning a graduate degree in management. 

As a CERTIFIED FINANCIAL PLANNER™ professional,  she is held to the highest standards set forth in the industry. She surrounds herself with a back office of experts in tax and investment research so that her clients have the best of both worlds – the resources of a large firm with the caring, dedication, and personal service of a small firm. 
Important Tax Mistakes to Avoid {That CPAs Wish You Knew} (Ep.22)

Important Tax Mistakes to Avoid {That CPAs Wish You Knew} (Ep.22)

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In this episode, Michelle Gessner sits down with Madison Ross, co-founder of Ross & Connor LLP, a CPA firm based in Fort Worth, Texas. Together, they dive into why proactive tax planning and working with professionals is essential to avoid costly mistakes and optimize tax strategies.

Madison, an expert in small business, real estate, and individual taxation, shares common tax pitfalls to avoid, including the main problem with gifting property during your lifetime to loved ones, why titling real estate to an S-corporation may not be a good idea for business owners, tax essentials for cryptocurrency owners and navigating Roth conversions. Michelle and Madison also explain how avoiding unintended consequences like Medicare surcharges and leveraging the right software can make tax planning more efficient and effective.

Take note as Michelle and Madison cover: 

  • Gifting property during one’s lifetime may lead to high tax liabilities due to the loss of a step-up in basis
  • Roth conversions require careful planning to avoid higher tax brackets and unintended consequences 
  • Risks of using an S-Corp for real estate for business owners Consulting  professionals can help prevent costly tax mistakes
  • And more

Connect with Madison Ross:

Connect with Michelle: 

About Our Guest: 

Madison Ross is a Tax Partner and co-founder of Ross and Connor LLP. His focus is on Small Business, Real Estate, and Individual taxation. The firm incorporates tax planning strategies, which provide clients with a roadmap for tax savings and wealth building. Madison is a member of the Main Street Business Certified Tax Advisory Network, which consists of hundreds of CPAs, Enrolled Agents, and Lawyers from across the country who meet weekly to discuss up-to-date tax strategies. He received a certification in Cryptocurrency Taxation from Main Street Business in 2022. Madison is licensed as a CPA in Texas and New Mexico and is a member of the AICPA.

About Michelle Gessner: 

As a CERTIFIED FINANCIAL PLANNER™ professional, Michelle is passionate about building a life plan for her clients and helping them see that they have choices, which often comes to them as a pleasant surprise. She is an independent thinker and a huge advocate of her clients’ interests. Her greatest joy is working to do what is right for them and be their voice.

Michelle has a B.S. in Finance from the University of Colorado, Boulder, and an M.S. in Management from Boston University, Brussels. Growing up in Montana and moving to Colorado for college, she took out student loans and worked her way through all four years. After graduating in 1987 with honors, she accepted a job at Shell Oil in Houston, and worked her way up the corporate ladder to a management position before leaving in 1992 for Brussels, Belgium, where she lived for 4 years. In Brussels, she learned about different cultures and basic conversational French as well as pursuing and earning a graduate degree in management. 

As a CERTIFIED FINANCIAL PLANNER™ professional,  she is held to the highest standards set forth in the industry. She surrounds herself with a back office of experts in tax and investment research so that her clients have the best of both worlds – the resources of a large firm with the caring, dedication, and personal service of a small firm.

FEATURE
Top Takeaways from 2023 (Ep.13)

Top Takeaways from 2023 (Ep.13)

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A new year provides opportunities for growth and self-improvement, and this extends to your finances too! 

But before we look too far ahead, let’s revisit a few 2023 episodes of Retire To A Life You Love® for the top takeaways that you can carry into the new year.

Gain insight as Michelle highlights practical reminders and nuggets of financial wisdom like:

  • The value of understanding and implementing tax strategies for your retirement
  • Tips for your Roth 401(k), Roth 403(b) including converting pre-tax money  
  • Benefits of a Qualified Charitable Distribution (QCD) strategy
  • Key issues for estate planning for yourself but also your aging parents

Resources:

Connect with Michelle Gessner:

About Michelle Gessner: 

As a CERTIFIED FINANCIAL PLANNER™ professional, Michelle is passionate about building a life plan for her clients and helping them see that they have choices, which often comes to them as a pleasant surprise. She is an independent thinker and a huge advocate of her client’s interests. Her greatest joy is working to do what is right for them and be their voice.

Michelle has a B.S. in Finance from the University of Colorado, Boulder, and an M.S. in Management from Boston University, Brussels. Growing up in Montana and moving to Colorado for college, she took out student loans and worked her way through all four years. After graduating in 1987 with honors, she accepted a job at Shell Oil in Houston and worked her way up the corporate ladder to a management position before leaving in 1992 for Brussels, Belgium, where she lived for 4 years. In Brussels, she learned about different cultures and basic conversational French as well as pursuing and earning a graduate degree in management. 

As a CERTIFIED FINANCIAL PLANNER™ professional,  she is held to the highest standards set forth in the industry. She surrounds herself with a back office of experts in tax and investment research so that her clients have the best of both worlds – the resources of a large firm with the caring, dedication, and personal service of a small firm. 

FEATURE
Planning Beyond Today: A Look at Long-Term Care Planning (Ep. 7)

Planning Beyond Today: A Look at Long-Term Care Planning (Ep. 7)

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Don’t wait for tomorrow, next week, or next month to figure out your long-term care plan. Now is the time to equip yourself with knowledge so you can properly plan for your future. 

In this thought-provoking episode, Michelle Gessner, CFP® and host of the Retire To A Life You Love® podcast walks listeners through long-term care options and possible scenarios that could affect you and your family.

If planning for long-term care frightens you, or you think you’re simply not old enough to plan, you need a reality check. Every day, we are all getting older, and the fact of the matter is most people are not financially ready for what could possibly happen as they age.

Join Michelle as she tackles common questions regarding long-term care, provides invaluable insight from the perspective of a CERTIFIED FINANCIAL PLANNER™ professional, and shares some startling statistics about our aging population.

Gain information for yourself or to share with your family about:

  • The various types of long-term care available; assisted living, nursing homes, adult daycare, and at-home nursing care. 
  • Startling statistics that will propel you to take long-term care planning seriously
  • The expenses associated with long-term care, including discussions around Medicare and Health Insurance
  • What is long-term care, and how to know if you or a loved one requires assistance
  • How the latest insurance policies work that may be less expensive than you thought
  • And more!

Resources:

Connect with Michelle Gessner: 

About Michelle Gessner: 

As a CERTIFIED FINANCIAL PLANNER™ professional, Michelle is passionate about building a life plan for her clients and helping them see that they have choices, which often comes to them as a pleasant surprise. She is an independent thinker and a huge advocate of her client’s interests. Her greatest joy is working to do what is right for them and be their voice.

Michelle has a B.S. in Finance from the University of Colorado, Boulder, and an M.S. in Management from Boston University, Brussels. Growing up in Montana and moving to Colorado for college, she took out student loans and worked her way through all four years. After graduating in 1987 with honors, she accepted a job at Shell Oil in Houston, and worked her way up the corporate ladder to a management position before leaving in 1992 for Brussels, Belgium, where she lived for 4 years. In Brussels, she learned about different cultures and basic conversational French as well as pursuing and earning a graduate degree in management. 

As a CERTIFIED FINANCIAL PLANNER™ professional,  she is held to the highest standards set forth in the industry. She surrounds herself with a back office of experts in tax and investment research so that her clients have the best of both worlds – the resources of a large firm with the caring, dedication, and personal service of a small firm. 

FEATURE
How to Avoid Common Estate Planning Mistakes (Ep. 5)

How to Avoid Common Estate Planning Mistakes (Ep. 5)

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We’ve all heard horror stories, or know someone that wasn’t prepared and suffered costly consequences. 

Don’t be that someone.

In this episode, Michelle Gessner, CFP® delves into the world of Estate Planning by sharing stories of common mistakes and provides insight into how you can prepare for the unexpected.

Estate planning is crucial in order to ensure that your hard-earned assets are passed down to your loved ones and that your wishes are carried out. 

Join Michelle as she highlights:

  • The importance of having a sense of urgency when it comes to estate planning
  • Issues with boilerplate wills and why they’re not suitable for everyone
  • How outright distributions from a will can leave your assets vulnerable to lawsuits and creditors
  • The benefits of working with an experienced estate planning attorney to create a customized plan that meets your unique needs and protects your assets
  • And more!

Connect with Michelle: 

About Michelle Gessner: 

As a CERTIFIED FINANCIAL PLANNER™ professional, Michelle is passionate about building a life plan for her clients and helping them see that they have choices, which often comes to them as a pleasant surprise. She is an independent thinker and a huge advocate of her clients’ interests. Her greatest joy is working to do what is right for them and be their voice.

Michelle has a B.S. in Finance from the University of Colorado, Boulder, and an M.S. in Management from Boston University, Brussels. Growing up in Montana and moving to Colorado for college, she took out student loans and worked her way through all four years. After graduating in 1987 with honors, she accepted a job at Shell Oil in Houston, and worked her way up the corporate ladder to a management position before leaving in 1992 for Brussels, Belgium, where she lived for 4 years. In Brussels, she learned about different cultures and basic conversational French as well as pursuing and earning a graduate degree in management. 

As a CERTIFIED FINANCIAL PLANNER™ professional,  she is held to the highest standards set forth in the industry. She surrounds herself with a back office of experts in tax and investment research so that her clients have the best of both worlds – the resources of a large firm with the caring, dedication, and personal service of a small firm.