Today we talk about estate plans. What are they and who needs them?
I almost died a couple of months ago and it really opened my eyes. If I had died nothing was planned. If would probably been tough for my wife to navigate all the different financial issues like getting my life insurance, selling the house and even accessing my business bank accounts.
So who needs an estate plan? What does it all consist of?
Robert Fugal answers these and other questions.
Have a listen!
Here are the links to some of the resources that were mentioned in this podcast.
If you think you need an estate plan connect with Rob on his website and see how she can help!
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Show Notes and Key Takeaways
Robert Fugal shared a lot of valuable information on this podcast, here is a list of golden nuggets that I heard just to name a few!
- Because I almost died a few months ago, I thought it would be a good idea to talk with an estate planner. Is your estate in order?
- We always thing that things aren’t going to happen to us but sometimes it does. Are you prepared?
- What is your business structure and is it set up properly and are you running properly.
- Keep up on your record keeping. It will help you steer your ship properly.
- Don’t be ashamed if you books are not in order let a bookkeeper help you get them in order.
- If you need a bookkeeper check out episode #27 with Stacey from Shoebox Bookkeeping Services.
- Everyone needs an estate plan it just is a matter of how complex does it need to be.
- How bad is it if you don’t have an estate plan? The State trys to establish what you would want done and that can be time consuming and costly.
- If you like your beneficiaries and you want to be kind to them, then you want an estate plan.
- If you have an estate plan then you don’t have to go through probate.
- What do you want to put in probate? Stock or ownership of a company, your home, life insurance, etc.
- Robert is old school so he does answer his phone if you have questions for him his number is 801-426-4700.
- Website is BirdFugal.com and his email is [email protected]
- When you start or invest in a business know when to say uncle and don’t throw good money after bad.
- Books that he recommends are Daring Greatly by Brene Brown and Man’s Search for Meaning by Viktor Frankl
- You can minimize your fear of taking action by analyzing what the worst is that could happen and realizing that it’s not as bad as you thought.