Smart Estate Planning Can Save You Money and Your Privacy

Money Tree Investing

Money Tree Investing Podcast

Stockmarket, Valuestocks, Investing, Finance, Passiveincome, Wealth, Business, Personalfinance

4.6 • 658 Ratings

🗓️ 19 March 2021

⏱️ 63 minutes

🔗️ Recording | iTunes | RSS

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Summary

Want to learn the secrets of smart estate planning strategies?

This week we interview an estate planning attorney, Ali Katz, who is an expert in estate planning for families. We discuss some of the top mistakes people make, how you can find out about the mistakes wealthy people make, and why one of the best strategies means you have to start early.

For more information, visit the show notes at https://moneytreepodcast.com/smart-estate-planning-ali-katz

^{Today's Panelists:}

^{Kirk Chisholm | Innovative Wealth}
^{Barbara Friedberg | Barbara Friedberg Personal Finance}
^{Megan Gorman | The Wealth Intersection}

Transcript

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0:00.0	Welcome to the Money Tree Investing Podcast. Stock market, wealth, personal finance, value stocks, invest in your life.
0:11.1	Hello, Smart Money Tree podcast listeners. Welcome to this week's show. My name's Kirk Chisholm and I am going to be your host today.
0:17.8	So today we have a good friend of mine, Allie Katz. How you doing today, Allie?
0:22.1	Great. So good to be here with you. We really wanted to bring Allie on because there's a bunch of
0:26.0	topics here that rarely get discussed in the show and in life in general. And they're so important.
0:32.6	So I wanted to bring Allie, tell the listeners a little bit about your background.
0:36.1	I began my career about 20 years ago as an attorney at one of the best law firms in the
0:42.3	country. It started by Charlie Munger, Warren Buffett's personal right-hand lawyer.
0:47.1	You know, Warren doesn't make a decision without consulting Charlie. And I thought that I was
0:52.3	going to be going to work at this law firm and be a trusted
0:56.3	advisor and personal attorney to the clients that we served. Of course, I was only, you know, a baby
1:02.7	associate coming out of law school at that time, but that's really what I thought. And I was
1:08.1	really surprised once I got there to discover that the work that we were doing
1:14.3	for our clients as estate planning attorneys, even at one of the best law firms in the country,
1:19.9	was sadly not what I expected it to be.
1:24.8	It was all about forms and documents. And I had had an experience in law school
1:30.8	where my father-in-law died. And he had spent $3,000 on an estate plan for us to keep us from having
1:38.0	to deal with his ex-wife and to keep us out of the court system. And then all of a sudden,
1:42.5	we were stuck in the court system and dealing with
1:45.2	his ex-wife. And I thought for sure that must be malpractice, that he spent all this money on this
1:51.0	plan and then it didn't work. It failed. And then I go to this, you know, best law firm in the
1:56.0	country, Charlie Munger's law firm, and we're doing things the exact same way, just putting in place
	...

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