Estate Planning for the Sandwich Generation With Jeff Toner (Ep. 34)

Dollars and Sense: Creating Your Fulfilled Life

27-12-2023 • 58 mins

Estate planning is important for everyone, but why is it especially important for the sandwich generation?

In this episode, Nicole introduces fellow Private Vista colleague, Jeff Toner, CHFC®, RICP®, Partner at Private Vista, to talk about estate planning. While it’s important to get your documents in order before you need them, Nicole and Jeff point out that there are many layers to estate planning and discuss the impact it can have on multiple parts of our lives. They delve into the complexities of managing aging parents’ affairs, the importance of open communication within families, and the need for estate planning documents. Jeff emphasizes the benefits of proactive estate planning, including providing clarity for families, reducing tax burdens, and ensuring wealth preservation for future generations.

Nicole and Jeff go over:

The importance of estate planning, especially for the sandwich generation
The challenges that come with managing aging parents’ affairs and the reversal of roles
Why estate planning isn’t just a checklist, it’s a lifelong process
What key documents are needed for estate planning, in addition to a will
The challenges faced by the sandwich generation in estate planning for aging parents and themselves
An explanation of power of attorney, wills, trusts, and their importance in estate planning
The various benefits of proactive estate planning, including control over decisions, educating and providing clarity for families, and tax reduction
And more

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Connect with Jeff Toner:

About our Guest:

Jeff Toner, Partner at Private Vista, now almost 40 years into his career, has the luxury of looking backward and reflecting on the journey he has been on. Back in 1984, he didn’t know what a fiduciary was or what a financial planner did. What he did know was he wanted to help people with their finances and achieve their goals in life. He wanted to do it in a way that he wasn’t selling them a product but rather walking side by side with them as they moved toward their dreams. Jeff has been with them in moments of great joy and cried with them during their times of sadness. He has taught and educated them, but more importantly, he has been taught and learned from them as well.