The Financial Independence Step Most People Forget: Estate Planning

BiggerPockets Money Podcast

BiggerPockets

Investing, Business, Education

4.5 • 3K Ratings

🗓️ 16 June 2026

⏱️ 43 minutes

🔗️ Recording | Apple Podcasts | RSS

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Summary

Most people know they should have an estate plan, but keep putting it off. In this episode of the BiggerPockets Money podcast, Mindy Jensen and special guest Carl Jensen sit down with estate planning attorney Skipton Reynolds to break down everything you need to know about wills, trusts, probate, beneficiary designations, powers of attorney, guardianship planning, and estate taxes. Whether you're a young adult, a parent, a high-net-worth investor, or someone pursuing financial independence, estate planning is one of the most important financial moves you'll ever make. Learn how to protect your assets, avoid costly probate mistakes, ensure your loved ones are cared for, and create a plan that reflects your wishes. Connect with Skipton Reynolds: Website: https://www.skiptonlaw.com/ To go beyond the podcast: Kick start your financial independence journey with our FREE financial resources - https://biggerpocketsmoney.com/ Subscribe on YouTube for even more content- www.youtube.com/biggerpocketsmoney Connect with us on social media to join the other BiggerPockets Money listeners - https://www.facebook.com/groups/BPMoney We believe financial independence is attainable for anyone no matter when or where you’re starting. Let’s get your financial house in order! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Most people spend years building wealth, investing for retirement, and working towards their
0:05.2	financial independence goal.
0:06.8	But many overlook one of the most important details of a complete financial plan, an estate
0:12.8	plan.
0:13.6	And Carl and I were guilty of that.
0:15.7	We didn't build an estate plan until our oldest daughter was 19.
0:20.6	In this episode, we're going to discuss why you
0:23.1	need an estate plan and how to start the process to build yours today. Hello, hello,
0:33.3	hello, hello, and welcome to the Bigger Pockets Money podcast. My name is Mindy Jensen, and as a special treat,
0:38.1	I have Carl Jensen with me today. Hello. That's it? Just hello? Yeah, that's it. Okay.
0:44.7	I'm going to matter of few words. There we go. I hope you're not. You're co-hosting this episode with me.
0:49.5	Today, we are joined by Skipton Reynolds, who is our actual estate planning attorney. And we are excited to pick
0:57.0	his brain on the topic of estate plans. So without further ado, welcome Skip to the Bigger Pockets
1:04.0	Money podcast. Thank you so much for having me. I'm really looking forward to joining you today.
1:08.7	I am too. I have been planning this since we finished our estate plan at the very, very beginning
1:16.1	of this year.
1:16.9	It took us about six to eight months to just figure out all the things that we wanted in
1:22.9	the estate plan.
1:24.1	And I know why we never did it.
1:26.6	But why do you think most people ignore estate planning?
1:30.9	I think there's lots of reasons. I think the number one reason is people don't want to think
1:35.7	about not being as well as they are right now or dying, frankly, you know, there are people
	...

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