The Importance of Estate Planning
Jill on Money with Jill Schlesinger
Audacy
4.6 • 1.9K Ratings
🗓️ 16 August 2024
⏱️ 14 minutes
🧾️ Download transcript
Summary
Whether through a beneficiary designation, through a jointly held account, by probate, or through a trust, you need to ensure coordination and alignment between your assets and your plans.
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Transcript
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| 0:00.0 | Welcome to the Jill on Money Show. It's Friday, August 16th, and we are here trying to help you make better |
| 0:09.8 | financial decisions. We do that by encouraging you to go to our website. That website is jillonmoney.com |
| 0:17.8 | And in the upper right hand corner, there is a contact us button. And when you click it, |
| 0:22.8 | a form will pop up. You complete it. And if you'd like to join us on the program live, |
| 0:27.4 | all you need to do is just check that box. And Mark will do everything else. While you're on the |
| 0:31.8 | website, don't forget to sign up for the free weekly newsletter comes out every Friday. So |
| 0:36.4 | if you're signed up for it, you'll get it today. |
| 0:39.2 | You should also check out our subscription service called Jill on Money Live. |
| 0:43.5 | For $35, you have access to quarterly live webinars, bonus video content. |
| 0:48.8 | And of course, once you subscribe today, you can go back and watch everything we have already recorded for the last 18 |
| 0:55.6 | months. So that's Jill on Money Live, 35 bucks, pretty cheap. Okay, so today is Friday, which |
| 1:02.5 | means it's a Friday focus. And today's Friday focus is the importance of estate planning. |
| 1:09.9 | You guys know how much I think this is a vital part of your |
| 1:13.8 | financial foundation. And frankly, it's probably the most important thing that you can focus on |
| 1:20.2 | on not just any Friday, on any day. So let's get started. This is an email from BP who really is looking for some tips on trying to find a firm that does both estate and financial planning and wants to make sure that the fee for that combined service is not too steep. Okay, I know that having a one-stop shop would be fantastic for you. But in my experience, it just doesn't |
| 1:46.4 | happen that often that estate planning attorneys, they stick to their own offices, and yes, every |
| 1:52.0 | so often they'll have a financial planner who's maybe down the hall or something. And the same |
| 1:56.7 | goes for a financial planning firm where they may have someone they could refer you to, |
| 2:01.0 | but not necessarily part of the same practice. And that's okay. I think generally the idea here |
| 2:06.7 | is that having two types of professionals who have worked together in the past and have a good |
| 2:12.7 | relationship, that can be really helpful. And if you only have one but not the other, just ask for a referral |
| 2:19.1 | and maybe that's the easiest way around this. Okay, the next question is from Chris, who writes, |
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