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Stay Wealthy Retirement Podcast

Five Wishes: America's Most Popular Living Will with Paul Malley

Stay Wealthy Retirement Podcast

Taylor Schulte, CFP®

Financialplanning, Retirement, Money, Taxplanning, Stocks, Wealth, Business, Investing, Retirementplanning

2.4606 Ratings

🗓️ 9 July 2019

⏱️ 32 minutes

🧾️ Download transcript

Summary

Advanced care planning is not a fun topic to bring up at the dinner table, but what happens if you get seriously ill or injured and can’t speak for yourself?

Do you have someone you trust to speak on your behalf who can easily represent your wishes? Or would your hospital room be fraught with conflict and arguments?

Today, Paul Malley, President of Aging with Dignity, joins us to talk about Five Wishes, a personal guide that encourages people to discuss difficult topics with loved ones and write end of life wishes in your own words.

And while it addresses medical care and treatment, its true gift is that it includes your personal, emotional, and spiritual wishes.

It’s also a legal document in almost every state.

Join us as Paul and I talk about:

  • What Five Wishes is and how it goes beyond a living will or advanced medical directive
  • How Five Wishes can work with other estate planning documents you might already have
  • How it fits into your financial plan

Leaving your legacy for your loved ones is the natural next step in your financial planning process and can give you peace of mind during life’s worst situations. Don’t miss this one.

Show Notes & Links: https://youstaywealthy.com/48 

DISCLAIMER: This podcast is for informational and entertainment purposes only and should not be relied upon as a basis for investment decisions. This podcast is not engaged in rendering legal, financial, or other professional services.

Transcript

Click on a timestamp to play from that location

0:00.0

that lets people tell their family members, their loved ones, if you want to be a good caregiver for me,

0:05.7

if you want to honor my human dignity, here's exactly how you can do it. And that's the beauty

0:10.2

of five wishes. Welcome to the Stay Wealthy podcast. I'm your host Taylor Schulte. And today,

0:17.1

we're going to be talking about a difficult but really important topic, which is

0:21.5

how you are treated if you get seriously ill.

0:24.6

Before I go any further, we're going to be referencing a document in today's show called

0:28.1

The Five Wishes.

0:29.8

And Five Wishes is this really easy to complete living will that lets you say exactly what

0:36.1

you want to happen if you were to get seriously ill.

0:39.2

It's a conversation piece for you and your family, and it's a legal document in over 42

0:45.0

states. So I've actually purchased a box of these documents for our listeners. And I'm going to be

0:51.0

giving away stacks of five copies to the first three listeners

0:56.2

that email me after hearing this. So if you'd like a stack of five copies for you and your family,

1:01.8

shoot me an email at podcast at you staywealthy.com with the subject line, five wishes, and we'll get

1:08.7

them out to you. Okay. I've got a really special guest on today's show.

1:12.9

His name is Paul Malley and he's the president of the Five Wishes organization.

1:18.5

Paul has over 20 years of experience in the field of aging and advanced care planning and

1:23.8

you're going to walk away from this interview learning these three things today.

1:28.1

Number one,

1:33.7

what is five wishes, who should use it, and how does it work with all the other estate planning documents you might have? Number two, how advanced care planning reduces health care costs

1:40.3

in retirement and improves the quality of a person's life. And the number three,

1:45.0

where exactly five wishes fits into your financial plan? For all the links and resources

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