What is a Female? Why Definitions Matter In Estate Planning
Big Picture Retirement®
Devin Carroll
4.7 • 546 Ratings
🗓️ 3 July 2023
⏱️ 26 minutes
🧾️ Download transcript
Summary
In the world of estate planning, words hold immense power. Does your estate plan have a definitions page that clearly defines the key terms? If not, there could be massive issues down the road.
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Transcript
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| 0:00.0 | The Big Picture Retirement Show does not provide tax, legal, or financial advice. |
| 0:04.3 | Listeners are encouraged to seek out their own advisors in these areas. |
| 0:10.6 | Hey, everyone, welcome to the Big Picture Retirement Show. |
| 0:13.4 | I'm your host, Devin. |
| 0:14.6 | Join today by my co-host, John. |
| 0:16.9 | Howdy. John. |
| 0:28.7 | John definitions are very important. |
| 0:29.6 | Absolutely. Bill Clinton. |
| 0:30.9 | Bill Clinton was the one that really illustrated that. |
| 0:33.4 | If you remember, was it he was in front of the grand jury or something and they ask him, |
| 0:39.4 | you know, something about his affair with Monica Lewinsky. And I think the statement that he came out with, |
| 0:46.6 | that maybe one of the defining moments of his presidency was, well, it depends on what the meaning of his is. |
| 0:56.0 | I still remember that. Now, I was pretty young then, but I still remember that being, wait a minute. What kind of wordsmithing is this he's |
| 1:02.0 | doing here? But what he was saying rightfully so is that definitions matter. Right. And definitions |
| 1:08.6 | in a legal context are extraordinarily important. Yes. Because you may, you may have a |
| 1:17.5 | general understanding of what you think a word means. And it could be, and can be really simple words, |
| 1:24.8 | right? I mean, you think about it is, obviously, right? |
| 1:31.9 | But they can have a lot of different meanings out there, right? |
| 1:34.8 | And vocabulary also changes over time. |
| 1:41.7 | So what kind of brought this up and is being somewhat of an expert in estate planning, |
| 1:45.1 | all things like estate planning, I actually get calls from attorneys that do estate planning, attorneys from all over the country. And they'll call with an odd |
| 1:50.6 | situation. And they know that, hey, I bet I can reach out to that John character and he might |
... |
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