The term "Estate Planning" is quite misleading. So many of us believe that "getting our affairs in order" is something reserved only for the wealthy. Yet it is absolutely necessary to our loved ones' futures that we sort out financial and personal details ASAP, no matter the status of our finances and assets, especially if we have children under the age of 18. But how do we approach such a monumentally confusing and overwhelming task? Danielle and Adam sat down with Estate Planning expert (who just happens to also be their VERY awesome brother-in-law) to ask all the questions, no matter how simple or naive. Danielle is pretty confident that they don't even have an "estate," (what does that even mean?!) and it's been around 15 years since they last updated their will (oops). Luckily, Gideon patiently addresses all of their (and your) concerns, and discusses his very personal experience with this subject, which caused him to pivot in his career. It turns out, there are people who are very passionate about estate planning (thank goodness).
Some of the topics covered in the episode:
- The main documents that make up a basic estate plan.
- The reasons why parent(s) should have these documents in place, particularly when they have kids under 18 years old.
- Which of these documents you should have in place for your kids once they turn 18 years old.
- What information you should be getting, now, from your aging parents, before it is too late.
Whether you're listening in hopes of talking to your parents or elder family members about your concerns for their late-in-life planning, or hoping to gain more insight into what steps you should take next in your own planning, this is one of those episodes that takes a scary topic and makes it not only relatable, but solvable. Send it to your family, friends, and anyone else who needs to a reminder that we aren't taking these steps only for our own peace of mind, but for the futures of those we love the most.
For more information, visit Gideon's website.
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