The estate planning mistakes that cost Long Island families thousands (and years in court).
Nicole Palermo, founder of The Palermo Firm, went from combative litigation to life-changing estate planning. Now she helps families avoid probate nightmares with proper planning.
In this episode:
- Why having 3 cars in your spouse's name creates a legal disaster
- The "most dangerous" beneficiary mistake parents make
- Why your Long Island house makes your estate worth $1 million
- COVID estate planning documents that don't work
- When your kids are actually ready to handle inheritance
- Healthcare proxies every 18-year-old needs immediately
The harsh reality: Most Long Island families think they're middle class, but between home values ($700K+) and retirement accounts, they're managing million-dollar estates. Your teenager buying a Ferrari with inheritance money isn't the biggest risk—it's them being financially preyed upon or developing gambling/substance issues from sudden wealth.
Nicole's transition from litigation shows why estate planning feels different: "Here you make a real difference. You can end your day knowing people's lives are set up the way they're supposed to be."
Whether you're 18 and need healthcare proxies or 45 with kids approaching college, this conversation provides actionable insights for protecting your family's future.
Contact The Palermo Firm: 516-262-4040 | ThePalermoFirm.com
Ready to share YOUR story? Book our state-of-the-art recording studio at www.nomstudios.co
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