#013: WIlls 101 - Part 1
Big Picture Retirement®
Devin Carroll
4.7 • 546 Ratings
🗓️ 27 March 2017
⏱️ 34 minutes
🧾️ Download transcript
Summary
According to a survey, 71% of Americans do not have a current Will - and half of Americans age 65 or older don't have a Will that is not up-to-date.
In this episode we cover the common mistakes people make when drafting their final testaments and why Snoop Dogg isn't going to do one at all.
This is part one of a series on Wills. We ask that you subscribe for free to receive the next episode automatically. There is no cost to do so, simply visit iTunes or subscribe on your Android device. You can even listen via our website. All resources and links can be found at http://bigpictureretirement.net
Transcript
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| 0:00.0 | The Big Picture Retirement Show does not provide specific tax, legal, or financial advice. |
| 0:05.1 | Listeners are encouraged to seek out their own advisors in these areas. |
| 0:12.9 | Hey everyone and welcome to the Big Picture Retirement Show, |
| 0:16.3 | where we deliver insight on what you need to know for a meaningful and successful retirement. If you |
| 0:22.6 | are planning for or living in retirement, this is the show for you. I'm Devin and joined today by |
| 0:29.1 | John my co-host. Hello, John. Howdy. All right. So one of the first questions that I ask |
| 0:36.1 | people when I'm sitting down meeting them for the first |
| 0:38.3 | time, right? We're going through our little questionnaire that I have. And nowadays, these questions |
| 0:42.6 | are actually in my head. I don't go through a written questionnaire, but I always want to know |
| 0:47.4 | about someone's estate planning. Sure. So I'll ask them, do you have a will? And I'm surprised at |
| 0:53.7 | how many times that answer is no. |
| 0:57.7 | There was a survey. Now, I know you have to be surprised because you see these people come in all the time. |
| 1:02.6 | Yeah, I'm not surprised at all by the amount of people that have no estate planning whatsoever. |
| 1:09.5 | Based on the number of intestate situations that we deal with |
| 1:14.2 | where somebody has died with no estate planning in place and their family is trying to figure out, |
| 1:18.6 | you know, as often as we're having to deal with those situations, I am not shocked at all by the lack of |
| 1:23.9 | planning. So according to the Google consumer surveys, they conducted a survey in June of |
| 1:29.1 | 2016 and a pretty big testing group as well, they found that 71.6% of all Americans don't have an up-to-date |
| 1:40.2 | will. Yeah, that doesn't surprise me. And that half of Americans over the age of 65 |
| 1:46.6 | don't have an up-to-date will. That's astounding. Yeah, I mean, the numbers speak for themselves. |
| 1:52.9 | But, you know, it's nature. These are not things that people like to think about. No, no, they're not. |
| 1:58.7 | That's for sure. In fact, you know, when you, and the numbers just get worse, the younger people get, you know, you start getting into the younger groups and the lack of planning is extraordinary. And I often joke if I have somebody who is under 55 and they're coming in to ask me about doing their own personal estate planning. |
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