What Happens When A Millionaire Dies

Wealthy Way

Ryan Pineda

Business, Entrepreneurship

4.8 • 2.1K Ratings

🗓️ 13 October 2022

⏱️ 71 minutes

🔗️ Recording | iTunes | RSS

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Summary

We’re back with another Wealthy Way podcast with my co-hosts Blake and Justin! We will be talking about estate planning today! This is something Blake asked me about recently because he saw a story about the Patagonia founder! Patagonia is a $3 Billion company, and the owner has just given it away to contribute to climate change effort. This got Blake thinking about how the founder signed over the company and did not leave it to his kids. We go in depth on how I have set up my trust and how I change it as my life changes.

Connect with our co-hosts!
Blake Hassebrock - Instagram @blakehassebrock
Justin Berry - Instagram @jberry30

Join the Wealthy Way today and get access to my free course, planner, and discord community! https://wealthyway.com
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Need tax and accounting help? Contact my CPA Firm! https://TrueBooksCPA.com/

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Subscribe to my main channel "Ryan Pineda" https://www.youtube.com/c/ryanpineda

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Blake, Justin, and I talk about why it's important to have an update a trust. I update my trust every two years according to how my life has changed, and it's changed a lot since I first made it! Blake updates his before every dangerous adventure. Do you have a will or trust?

estate planning, how to write your will, how to form a trust, why you should have a trust, why you should have a will

Transcript

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0:00.0	We're back now for another episode of the Wealthy Way podcast.
0:02.4	I got my co-host Blake has a Brock and my boy, JB.
0:06.9	And we're going to be talking about a state planning today.
0:11.1	This is something Blake asked me about recently and he just saw a story about this
0:16.6	Patagonia founder. What what happened with him?
0:18.6	Yeah, man. So Ivan Shenard legend, this guy's a legendary rock climber from
0:26.6	just sympathy back in the 1960s. Everybody knows Patagonia, right?
0:31.1	Yep. Yeah.
0:32.1	$3 billion clothing company. They've been super active and, you know, climate change
0:36.6	and environmental preservation, all that stuff.
0:39.2	And this guy just gives his company away this week at a nowhere.
0:43.1	Just gave his company away to a nonprofit in the interest of contributing to the
0:48.8	climate change efforts, the efforts to obviously like reverse climate change and
0:54.4	address it. So that got me thinking, man, $3 billion company.
0:59.5	He's got a couple kids that work actively in the business and, you know,
1:04.1	instead of cashing out and giving his kids the money, he signed the company over to the nonprofit.
1:09.1	And I'm like, man, I wonder what Ryan would think about this.
1:12.9	What are you going to do with your companies when you're 83 and James and Oh, or like,
1:18.3	Hey, yeah, I got great, great kids and stuff. Yeah, exactly.
1:21.1	It's like, it's a tough thing to do, but it's pretty noble. What do you did?
1:24.5	Yeah. This is something interesting that obviously you don't really start thinking about
1:28.3	until either you're older or you've achieved wealth.
	...

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