Speaker 1: Welcome to how the Money. I'm Joel and I am Matt,
Speaker 1: and today we're asking the question, but aren't wills for
Speaker 1: old people wills? That's right, man, We're gonna talk about
Speaker 1: that soon. For now, what do you think about our
Speaker 1: our new recording studio that we've got going on here?
Speaker 1: This is amazing. I feel like we need to set
Speaker 1: this visual scenario of where we are. So normally, Matt,
Speaker 1: you and I record at your dining room table. That's right,
Speaker 1: and we are, however, dining room table this evening. But
Speaker 1: also to your rights. Over your right shoulder is our refrigerator,
Speaker 1: and uh, over my left shoulder is our kitchen, kind
Speaker 1: of lovely instant pot on on a makeshift table with
Speaker 1: like a children's desk underneath it, Yeah, dude, and a
Speaker 1: larger children's desk to the side of it. It's it's
Speaker 1: you two children's desk that we've picked up for free
Speaker 1: at yard sales over the years. That that mash perfectly. So.
Speaker 1: Your kitchen has been moved into your dining room, and
Speaker 1: that is because of the renovation taking place in the
Speaker 1: back of your house exactly. I can't remember if we've
Speaker 1: told folks this, but so we've broken ground. We were
Speaker 1: adding some a couple of rooms onto the back of
Speaker 1: our house. Uh, and we're also going to be finishing
Speaker 1: out the Airbnb space underneath, so that's actually happening. We
Speaker 1: haven't done a full episode dedicated to that, but that's happening,
Speaker 1: and we certainly will keep you posted as that progresses.
Speaker 1: But what that means, dude, is that for the next
Speaker 1: our contractors told us maybe for the next month before
Speaker 1: the drywall is up, at which point then we can
Speaker 1: kind of move back, you know, get back in there
Speaker 1: and kind of get settled in again in our kitchen.
Speaker 1: We're not getting a new kitchen, we're just kind of
Speaker 1: adding onto the space beyond that. But yeah, we can
Speaker 1: still use our dishwasher and some of the our appliances
Speaker 1: back there, but it's just a mess, and certainly we
Speaker 1: don't want to have the girls back there. And if
Speaker 1: you notice, over my right shoulder there's our giant bus,
Speaker 1: our bussing tray or bust hub, and we dump all
Speaker 1: of our plates in there and I take it back
Speaker 1: there and do the dishes at night. It's not terrible.
Speaker 1: You guys are really good about finding like a system
Speaker 1: no matter what condition. You're in. The system has gotta work, yes,
Speaker 1: and so you you set up this really great system,
Speaker 1: because I gotta tell you, if it was our family
Speaker 1: that was renovating, it might be a little more of
Speaker 1: a cluster. We wouldn't float nearly as well. So I
Speaker 1: do appreciate the way you guys set up a system. Uh,
Speaker 1: and it seems like it's working well. You're kitchen dining
Speaker 1: room combo. You know. While not ideal for the long haul,
Speaker 1: it works out for the short term. Dude. It's actually
Speaker 1: kind of nice. It makes me feel like we're in
Speaker 1: New York or something like that, where it's just like, oh,
Speaker 1: I need some more catch up. Let me just literally
Speaker 1: I can reach over and open the fridge from my seat.
Speaker 1: That's pretty sweet. That's pretty sweet. It's the it's not
Speaker 1: too bad, but we certainly are looking forward to getting
Speaker 1: back into our into our space and our new sort
Speaker 1: of expanded space. You know, this is something that Kate,
Speaker 1: now we we've talked about for a while. We see
Speaker 1: ourselves in this house, you know, potentially for forever with
Speaker 1: this small edition. And then we're also we're kind of cheating,
Speaker 1: but we're justifying it by using the space below you know,
Speaker 1: to to put up on Airbnb, and the you know
Speaker 1: what we're gonna be able to generate from that is
Speaker 1: gonna earn us if you run the numbers, like over
Speaker 1: ten percent on our money. We get to increase the
Speaker 1: amount of utility that we have to use for ourselves,
Speaker 1: provide sweet little service or folks through the Airbnb, and
Speaker 1: then all the while make uh make over ten percent
Speaker 1: on our money. It's it's not too bad. Yeah, that's
Speaker 1: pretty sweet, dude. You know, we actually talked about doing
Speaker 1: an entire episode on construction. Maybe we gotta do that soon. Yeah,
Speaker 1: like finding a contractor making sure that you can get
Speaker 1: reliable help, just just all the things that just all
Speaker 1: the steps that people go through and and they're just like,
Speaker 1: how does this even work for folks that are maybe
Speaker 1: considering an addition or maybe just a small renovation. I'm
Speaker 1: not totally sure at what point will be, but we've
Speaker 1: done some work like this before down on this house,
Speaker 1: but on others, and so yeah, that might be fun
Speaker 1: to talk about. Oh man, we had a listener right
Speaker 1: in a few episodes ago. I think i'd kind of
Speaker 1: bashed donating plasmas. Yeah, yeah, we're gonna mentioned the plasma guy. Yeah,
Speaker 1: so I donated plasma a little bit in college and
Speaker 1: made some sweet money and it worked alls in college,
Speaker 1: and I think, you know, I kind of made fun
Speaker 1: of it that now at this point in my life,
Speaker 1: I wouldn't do it. And listener Ryan wrote in and
Speaker 1: talked about how he still donates plasma and kind of
Speaker 1: why he does it and how much money he makes,
Speaker 1: like he does it on the rag and brings in
Speaker 1: some serious money, which I was completely impressed with his
Speaker 1: system and kind of, you know, the way we set
Speaker 1: up our kitchen and like the processes, that's the way
Speaker 1: he sets up his left arm. Yeah, it's gonna be
Speaker 1: his left because he's on his phone with the right exactly,
Speaker 1: listening to podcasts and reading books and stuff like that,
Speaker 1: which I love. I love his his approach to it.
Speaker 1: So he said he makes almost like a year from
Speaker 1: donating plasmas. So if you stick to the schedule and
Speaker 1: you go twice a week, that usually you know, the
Speaker 1: payout increases if you're able to go twice a week,
Speaker 1: and then if you go regularly almost every day that month,
Speaker 1: you're going to get an additional bonus on top of that.
Speaker 1: So the more you donate in every single month, you're
Speaker 1: going to get more money for donate in your plasma.
Speaker 1: And you can will put a link maybe to what
Speaker 1: it means to donate your plasma in the show notes.
Speaker 1: I don't want to kind of go into all the
Speaker 1: specifics now, um, but you're fine, like like an instructibles,
Speaker 1: but like how to donate your own plasma yourself at home?
Speaker 1: Yeah no, probably not, you don't want to do that,
Speaker 1: but just like the Wikipedia for what it actually means,
Speaker 1: because some people might be like it might be a
Speaker 1: foreign concept. I've never donated plasma. Is that like donating blood?
Speaker 1: And I don't want to answer all those questions right here,
Speaker 1: but the fact that Ryan's doing it, it's really cool.
Speaker 1: And I just thought of this because on the way
Speaker 1: to one of my rental houses today, I passed a
Speaker 1: plasma donation center and I just honestly didn't even know
Speaker 1: where the one nearest to me was, and so I
Speaker 1: don't know, maybe I'll consider it. And Ryan had mentioned
Speaker 1: that the reason that he donates plasma kind of what
Speaker 1: he uses it for. Well, he said, first off, I'm
Speaker 1: making money for listening to podcasts and reading blogs and
Speaker 1: stuff like that, right, so he's just on his phone
Speaker 1: downtime and he's able to listen to the show or
Speaker 1: whatever other podcasts he's digging right now. Um. And then
Speaker 1: on top of that, he uses all that extra money
Speaker 1: to fund his vacations. And so I love that he's
Speaker 1: kind of get this goal, this this reason for doing
Speaker 1: it right. It's like, Okay, this is extra play money,
Speaker 1: and I'm gonna use it to fund my travel. And
Speaker 1: so that was super cool. I kind of like this
Speaker 1: philosophy behind it. I like that he's doing it and
Speaker 1: you know what, all right, I'm gonna lay off few
Speaker 1: plasma donators. And I love that he put in there
Speaker 1: too that it only takes them about two hours a week,
Speaker 1: Like that's about he goes in twice a week, takes
Speaker 1: them about two hours, and so I mean you can
Speaker 1: actually see the numbers there right, like two hours a
Speaker 1: week making about a year. Like that's not too bad.
Speaker 1: It's not too bad. It's awesome. I love it. Way
Speaker 1: to go, Ryan. Alright, Matt, So the beer we're drinking
Speaker 1: on the show tonight, you picked it up for us. Yeah, man,
Speaker 1: This is by Cherry Street Brewing. This is a small
Speaker 1: batch that they've put out and it's called Sweet l Lonnie,
Speaker 1: which is a barrel age stoubts. Yeah, quickly, I wanted
Speaker 1: to say this beer gets an amazing rating on untapped,
Speaker 1: And if you don't follow Matt and I on on tapped,
Speaker 1: you can do that. It's kind of social media for
Speaker 1: beer drinkers. And you can find our untapped handles on
Speaker 1: our website. All right, Joel, let's talk about wills. But
Speaker 1: aren't wills for old people? No way, man, Um. The
Speaker 1: fact is is that over half of Americans don't have
Speaker 1: a will, man, And this is terrible news because what
Speaker 1: that means is your assets aren't protected, well specifically, you
Speaker 1: don't have control over where they go. More sort of personal,
Speaker 1: and even more important to us is that you don't
Speaker 1: even necessarily have say over who's going to be your
Speaker 1: children's guardian. Man. That is insane to think of the
Speaker 1: different families who don't have wills, where something you know,
Speaker 1: could happen tomorrow and the state gets essentially decide, you know,
Speaker 1: where your kids go. That's that's crazy. Yeah, man, And
Speaker 1: first I think we need to clear up to the
Speaker 1: fact that you know, we aren't lawyers, were certainly not
Speaker 1: experts on this. But what we want to convey more
Speaker 1: than anything, is it. Setting up a will is easy,
Speaker 1: it's quick, and it can be free. And so we're
Speaker 1: gonna go kind of go through all those things and
Speaker 1: the reasons to like why you should have a will
Speaker 1: and you need to because you could totally get like
Speaker 1: final destinations tomorrow, yes, impaled through the skull or I
Speaker 1: don't foot, I don't know, whatever it could, whatever it takes,
Speaker 1: you know, there's all these random ways you can die,
Speaker 1: hit by a bus, disc golf, disc to the head.
Speaker 1: There's just the possibilities are endless. If you're gonna get
Speaker 1: a final destination, they would totally be getting disc golf
Speaker 1: to the head, right, Like if you're gonna go out, like,
Speaker 1: how would you like to go out? Probably that way, yeah,
Speaker 1: like on the course, like out in nature. Like it
Speaker 1: doesn't remind me of the first time I took my
Speaker 1: family out to play disc golf. I've never taken the
Speaker 1: girls out. And uh, I was walking with my I
Speaker 1: think at that point they were two and four and
Speaker 1: my wife, my wife throws her disk and she just
Speaker 1: she never plays disc golf, and she hit our four
Speaker 1: year old in the back of the head's like directly
Speaker 1: beamed or right in the back of the head. So
Speaker 1: my little disc golf teaching lesson ended really quickly and
Speaker 1: we headed home. I think everybody was crying, right like
Speaker 1: for sure. Yeah, so yeah, not a good day on
Speaker 1: the disc golf course. But that's yeah, that's probably the
Speaker 1: way I'd like to go. But yeah, we're all gonna go.
Speaker 1: And it's important to have a will because if you
Speaker 1: have any money in your name, or if you have
Speaker 1: young kids and a spouse, assets, whatever, you need to
Speaker 1: have a will. And we're not legal experts, but we
Speaker 1: can say with certainty that you want to make sure
Speaker 1: that in the event of your eventual death right it's
Speaker 1: gonna happen. It's inevitable for all of us. We just
Speaker 1: don't know when right that that that that you're not
Speaker 1: leaving a burden to your family or arguments to be
Speaker 1: made amongst the court systems and the people that have
Speaker 1: a vested interest in the outcome of where your possessions
Speaker 1: or your minor children go. You want to make sure
Speaker 1: that your will spells those things out so that you're
Speaker 1: not leaving it up to kind of chance and the
Speaker 1: whims of family arguments or the state right exactly if
Speaker 1: you die without a will, you know, the state is
Speaker 1: to decide who gets your kids and how your money
Speaker 1: is divided. This is called you know, dying intest states,
Speaker 1: which is a fun word kind of sounds like intestine.
Speaker 1: I wish I had a small intestate and a large intestate.
Speaker 1: It's like I'm going in from my intestate exam. But
Speaker 1: the estate at that point enter is probate. And that
Speaker 1: can be terrible because it can be really expensive. It
Speaker 1: can cost way more than a will, especially because wills
Speaker 1: can be free. Yeah, and I can also just take
Speaker 1: a long time and be a pretty stressful time when
Speaker 1: in the aftermath of your death, when your family is
Speaker 1: already incredibly emotional, there's a lot going on in preparing
Speaker 1: for the arrangements of your burial or cremation or whatever
Speaker 1: it may be, and adding on at probate court and
Speaker 1: the decisions that come along with determining where your assets
Speaker 1: end up, and the bickering that can happen even amongst
Speaker 1: families that care for one another and have a loving relationship,
Speaker 1: you know, during a post death scenario, it's it's just terrible,
Speaker 1: and so a will can just alleviate all these things.
Speaker 1: It's not so much for you. Right, you're dead, you're gone,
Speaker 1: but it's for your family members, the people that you
Speaker 1: care about. And doing that now, making sure that you
Speaker 1: get that will created now just gives you some peace
Speaker 1: of mind knowing that your family is taken care of
Speaker 1: when that stressful time eventually presents itself. Yeah, and I
Speaker 1: love what you said, which is that it's not for you. Like,
Speaker 1: that's what's so important about a will, is that it's
Speaker 1: it's for the people that you love. And I think,
Speaker 1: honestly that's the biggest reason why it gets pushed off.
Speaker 1: People think that, oh, I've got more time to do this.
Speaker 1: I can always do this tomorrow. This is something, This
Speaker 1: is a can I can just kick further down the
Speaker 1: road and I'll just delay. I'm not really gonna die,
Speaker 1: I mean, am I right? But fact is, anybody that
Speaker 1: dies without a will in test dates. Uh, that is
Speaker 1: what they think. That's the thought process that's going through
Speaker 1: their head. I get that. But at the same time,
Speaker 1: it's something that you need to take care of. And
Speaker 1: the good news is that it's quick and painless. And
Speaker 1: so after the break, we're gonna talk about the biggest
Speaker 1: reasons why you should have a will, and we'll talk
Speaker 1: about the costs associated with that. Hint is cheap. All right, Joe,
Speaker 1: let's talk about the big reasons why you've got to
Speaker 1: have a will and why it's not just for old people. Uh. First,
Speaker 1: I mean we kind of touched on this, right, but
Speaker 1: this is a crappy topic. This is sort of like
Speaker 1: we did the listener question not too long ago about
Speaker 1: life insurance, which is it's kind of crappy, similarly crappy topic.
Speaker 1: And I think maybe that's why we're kind of joking
Speaker 1: more about it, because we realize that it's not something
Speaker 1: that's really fun to talk about. It's just one of
Speaker 1: the things that you gotta do, and we've done it,
Speaker 1: and we're here to talk to you about it, and
Speaker 1: then I help you understand why you need to do
Speaker 1: it as well, and we'll just keep incorporating weird death
Speaker 1: jokes into this episode. And So the first reason you
Speaker 1: need to have a will is because with a will
Speaker 1: that you get to decide how your estate is distributed.
Speaker 1: And what that means is that you know, any of
Speaker 1: your assets, you get to decide, All right, do I
Speaker 1: want all this to go to my spouse? Do I
Speaker 1: want to go to my spouse, and twenty five to
Speaker 1: go to each one of my two kids. It's up
Speaker 1: to you. You can decide and shoot, maybe I want
Speaker 1: to have one of it to go towards this this
Speaker 1: charity or this nonprofit that you're a part of. Uh
Speaker 1: and for you that may not have happened were you
Speaker 1: to not have set up a will. These are all
Speaker 1: the different reasons why you want to have a will
Speaker 1: to decide where you want your assets to go. Joel,
Speaker 1: if you were to die, would you will me? Uh?
Speaker 1: Your folk art? You get my boom box. I've already
Speaker 1: decided on that. Like John Cusack sty album box on
Speaker 1: the shoulders, that's what you get, Bunny. You know, when
Speaker 1: I was younger, someone told me once that I reminded
Speaker 1: her of John Cusack. Really, what do you think about that?
Speaker 1: M Can you see it? Nope? She's like she's like
Speaker 1: like a blend between Richard Greer or gear. Why do
Speaker 1: you look like old people? I don't know. I mean
Speaker 1: even I was like twenty three at the time, too
Speaker 1: said definitely didn't make sense since then, but yeah, John
Speaker 1: Cusack and Richard I was like, I don't know how
Speaker 1: to take that, but we'll post a picture of you
Speaker 1: on the show notes and people can decide whether who
Speaker 1: you look more like, or maybe we won't post any
Speaker 1: pictures of me on the show notes and maybe instead
Speaker 1: you can just check out the countless selfies that Joel
Speaker 1: and I post. I did want to say, you didn't
Speaker 1: make my will in one area? No way. Please tell
Speaker 1: me you're the executor of my will, my friend, Yes
Speaker 1: you are. So I just want to let people know
Speaker 1: too that when you're creating a will, why did I
Speaker 1: not think of making you my executor? Uh? Probably because
Speaker 1: you chose someone that was smarter and probably better that
Speaker 1: suited to handle the job. Makes me a worse friend though, No, no,
Speaker 1: I don't want to be the exact That's a lot
Speaker 1: of work, dude, I set you up for a lot
Speaker 1: of work. Well, but you're not gonna die. Well that's
Speaker 1: probably true. Ever, yeah, I can agree with that. So
Speaker 1: to let people know the executor or executive tricks of
Speaker 1: a will is the person that will handle dispersing your
Speaker 1: assets and making sure that your final wishes are carried
Speaker 1: out in the manner that you wanted them to be
Speaker 1: carried out. And so you know, choosing the right person
Speaker 1: to handle that is great. You want someone that you
Speaker 1: know is kind of gonna be up for the paperwork
Speaker 1: and the relationship hassles of handling your estate after you passed.
Speaker 1: Do you know I love relationship conflict. I know. That's
Speaker 1: why I chose you. Detail orientation. I see now why
Speaker 1: you chose me. It's it's a match made in heaven.
Speaker 1: So you're my executor. So choose an executive or that
Speaker 1: you trust. I trust Matt. Choose either your podcast partner
Speaker 1: or your best friend. And you know what, it's even
Speaker 1: better if it's both. Ideally both I'm about that man.
Speaker 1: I like it. Also, another huge reason why you want
Speaker 1: to have a will is that we can We touched
Speaker 1: on this earlier, but you decide who gets to take
Speaker 1: care of your kids. So Joel mentioned the executor of
Speaker 1: the estates. What we're talking about now is the guardian.
Speaker 1: So if you have kids, you want to make sure
Speaker 1: that you've got somebody taking care of your kids that
Speaker 1: you want taking care of your kids. This is somebody
Speaker 1: too that you need to have talked to, unlike having
Speaker 1: it sprung on them at the last second of oh hey,
Speaker 1: by the way, you're the executor. Uh. Guardianship is who
Speaker 1: would do that. Um, hey, I accept guardianship though it's
Speaker 1: a I mean, it's a completely different thing, right, I mean,
Speaker 1: you're raising children, You're you're taking these these children on
Speaker 1: and you're loving them basically as as your own. And
Speaker 1: that's you know, that can be a really really tall
Speaker 1: order for folks. So that's a conversation that needs to
Speaker 1: be had. But as the parents, I knew that that's
Speaker 1: an opinion that I would have as to who raised
Speaker 1: our girls. And and so that's you know, that's a
Speaker 1: huge benefit of having a will set up. Yeah, you
Speaker 1: just don't want to leave that to chance, especially if
Speaker 1: you have kids. Right, Like your assets, like that's a
Speaker 1: big deal, but your kids, man, that's an even bigger deal.
Speaker 1: And so you just don't want to leave that to
Speaker 1: family arguments over who wants to take the kids. You
Speaker 1: want to be the person kind of writing that out,
Speaker 1: spelling out your wishes and making sure that once you die,
Speaker 1: that's what's carried out, right, And that's kind of that's
Speaker 1: a big position to be in. And so yeah, that's
Speaker 1: just something you need to think about, especially if you
Speaker 1: have young children. And so a lot of folks might
Speaker 1: be one and Joel, how expensive, is it? Don't I
Speaker 1: need a lawyer? Um? And you know, in some cases
Speaker 1: we would say, yeah, you do. You know, there's a
Speaker 1: lot of sort of more complicated situations that would call
Speaker 1: for a lawyer. You know, if you own property in
Speaker 1: other states, or if you have your own business, if
Speaker 1: they're severe medical issues. These are all sort of situations
Speaker 1: where you know, you deaf only want to involve lawyers.
Speaker 1: Or if you're like Matt and you've just got an
Speaker 1: enormous amount of assets, Yeah, exactly. Yeah, if you're me,
Speaker 1: then you definitely want to get the lawyers involved. Also,
Speaker 1: if you've got a pre nup that you created before
Speaker 1: you got married, if you have a spouse or a
Speaker 1: child with a disability, or that you believe that your
Speaker 1: will maybe contested a bunch of kids that argue, is
Speaker 1: that what you're saying? That, That's exactly what I'm saying.
Speaker 1: So you're you're gonna want to make sure you have
Speaker 1: a will laid out ahead of time. Yeah. Man. Basically,
Speaker 1: if you have a complicated financial or family situation or
Speaker 1: manners going on, you should consult a lawyer then. But
Speaker 1: oftentimes you do not need a lawyer if you have
Speaker 1: a simple boring family or a you know, pretty regular
Speaker 1: money situation looking at you, boring lawyers, guard family. Then
Speaker 1: for you, like those free will options or the you know,
Speaker 1: inexpensive will templates that are out there might be a
Speaker 1: great option for you, and we're going to talk about
Speaker 1: that right after this break. All right, Matt, we'll back
Speaker 1: to the break. We talked about how sometimes you don't
Speaker 1: need a lawyer to create a will, you can just
Speaker 1: do the free ones right in so many circumstances. Here's
Speaker 1: the problem. There are a lot of lawyers out there
Speaker 1: who will probably be emailing us after this episode is
Speaker 1: posted saying we're way off base, and then you need
Speaker 1: a lawyer to create a basic will, a basic document.
Speaker 1: But the problem is lawyer friends out there that that
Speaker 1: if there is this barrier to entry to creating a will,
Speaker 1: and most of us are never going to create any
Speaker 1: document at all if we have to go see a
Speaker 1: lawyer and pay the kind of sums that it takes
Speaker 1: in order to get that will created. And so while
Speaker 1: it might be the best case scenario to have an
Speaker 1: actual lawyer help you create this will, a lawyer that
Speaker 1: specializes in wills the States and trusts, well, it's kind
Speaker 1: of like how people actually ride an ee by versus
Speaker 1: letting their regular bike sit looking at myself in the mirror.
Speaker 1: I guess um, people actually do that, right, And so
Speaker 1: I think an action that people are actually going to
Speaker 1: take is better than not taking any action at all
Speaker 1: and and creating a will on your own without the
Speaker 1: help of a lawyer, because it's way cheaper and you're
Speaker 1: actually just gonna do it sitting at your computer for
Speaker 1: five minutes. Man, go for that route as opposed to
Speaker 1: just not having one created. Dude. I completely agree with
Speaker 1: that and love that. Honestly reminds me of Seth Godin.
Speaker 1: He always talks about delivering, like whatever it is that
Speaker 1: you're working on and you're creating, whether it be like
Speaker 1: an art or a book or an episode or a
Speaker 1: blog post. It's something he says is that perfection is
Speaker 1: the biggest enemy to delivering. And that's the case with this.
Speaker 1: If you feel that you have to get it exactly rights, dude,
Speaker 1: you're never gonna actually do it. Uh. I think that's
Speaker 1: the truth For the vast majority of folks out there.
Speaker 1: They think that, oh, it's got to be perfect, and yeah,
Speaker 1: like you said, it's that. I mean that alone right there,
Speaker 1: is going to keep people from creating a will and
Speaker 1: from getting that ball rolling all together. So let's talk
Speaker 1: about a few of the options that are out there
Speaker 1: for people. If you know what, you're realizing, I've got
Speaker 1: kids and I've never created a will, or holy crap,
Speaker 1: I've got six million dollars in the bank and I've
Speaker 1: never created a will. You're you're gonna want to get
Speaker 1: started on that right away. If if that's the case
Speaker 1: for you, if you're single, you live alone, there's you
Speaker 1: don't have many assets. Will is not nearly as important
Speaker 1: that you might want to consider it anyway, because it's free,
Speaker 1: and whatever you do have, you you want to make
Speaker 1: sure that it's going to the proper people. Your assets
Speaker 1: are going where you want them to go, you know,
Speaker 1: upon your eventual demise. But it's not nearly as important.
Speaker 1: But if you do have kids, if you have that
Speaker 1: large estate, like we talked about, it is important. So
Speaker 1: let's talk about the options. Will Maker is a software
Speaker 1: that's available. Prices on Amazon change constantly, but it's like
Speaker 1: fifty six bucks last time we checked, so that is
Speaker 1: kind of actually, in our opinion, the more expensive options
Speaker 1: you should consider, which sounds ridiculous to say that, like, oh,
Speaker 1: it's a lot of money, but big picture, when it
Speaker 1: comes to estates and wills and that sort of thing,
Speaker 1: it's it's really not that big of a deal. Yeah, completely,
Speaker 1: But so our first free option here is going to
Speaker 1: be free will dot Com. Which side note, you totally
Speaker 1: thought of Free Willy, right, like the movie from the nineties. No,
Speaker 1: that's funny. I'm just like a theology nerd at time.
Speaker 1: So I was thinking of the free will versus determinism. Okay,
Speaker 1: so my mind went to Disney and terrible, terrible movies
Speaker 1: from the nineties of like Free Willy and Cool Runnings
Speaker 1: and whatever other movie came out in that time period. Anyway,
Speaker 1: tangents free will dot com. That is where Joel and
Speaker 1: I have created our will. You know, so you had
Speaker 1: one before and I set mine up for the first
Speaker 1: time on there. How did you actually denote which one is?
Speaker 1: I guess up to date for you because you said
Speaker 1: you had one before this because I didn't have a
Speaker 1: I didn't have a will set up before before I
Speaker 1: did the one here at free will dot com. Yeah,
Speaker 1: so what you do at the end of creating your
Speaker 1: will printing it out. The great thing is free Will
Speaker 1: sends you a PDF and you print it out and
Speaker 1: they give you the step by step instructions of how
Speaker 1: to make sure that your will is valid. And so
Speaker 1: you take your old will and you rip it up,
Speaker 1: you toss it in the fire however you want to
Speaker 1: do it, however dramatic. You want to be really right,
Speaker 1: and so to validate the will, to make sure that
Speaker 1: it is actually legal in your state, you're going to
Speaker 1: need to get it signed by two witnesses. That's super easy.
Speaker 1: They just have to be over the age of eighteen
Speaker 1: and not involved in receiving assets from your will. So
Speaker 1: if you do, design to use free will dot Com
Speaker 1: and will link to them in the show notes as
Speaker 1: your source for creating your free will, which we would
Speaker 1: highly recommend. It's a really great service. They make it
Speaker 1: super easy. It literally takes less than five minutes to
Speaker 1: create your will, and then they give you all the
Speaker 1: steps in order to make sure that your will is
Speaker 1: totally valid, and they tell you how to make sure
Speaker 1: that you tell the proper people like your executor, which
Speaker 1: I told you on this episode. You can't say you
Speaker 1: didn't know. Everyone knows you knew, and it just makes
Speaker 1: sure that you have your proper ucks in a row.
Speaker 1: Start the domino effect of making sure that your assets
Speaker 1: go to the proper place in the event of your death. So,
Speaker 1: speaking of assets, would you would you will me like
Speaker 1: the craft beers that you've got in your seller, I'll
Speaker 1: give you my craft beer seller, because who else would
Speaker 1: I give it to. I don't know. I feel like
Speaker 1: there's somebody else. You might be like, hey, you want
Speaker 1: these beers? No way, man, of course, it's got to
Speaker 1: be my craft beer podcast. Buddy, Yeah, homie, No, wait, man,
Speaker 1: you know I gotta leave it to my podcast. And Buddy, well,
Speaker 1: that means a lot, man, I appreciate it all right. Man.
Speaker 1: That leads us to our second free option, and that
Speaker 1: comes from a website called meet fabric dot com. Specifically, uh,
Speaker 1: meet fabric dot com forward slash wills. What I love
Speaker 1: about this site is that it seems like they're kind
Speaker 1: of geared more towards the ladies, uh specifically like mom bloggers.
Speaker 1: Just kind of the way it's set up. I kind
Speaker 1: of clicked around something and I saw that they sell
Speaker 1: life insurance as well, and so you know, they're kind
Speaker 1: of finding their niche in the market, but they're making
Speaker 1: it really easy to use this very you know, non technical,
Speaker 1: because that's what you think of, right when you think
Speaker 1: of wills, you think of lawyers, and it's nis you
Speaker 1: think of a very bureaucratic and sort of state run process.
Speaker 1: And the way they had it set up on the
Speaker 1: website was just very approachable, and I loved it. I
Speaker 1: thought it was an awesome site. I love how both
Speaker 1: of these sites are able to use different models to
Speaker 1: sustain themselves and to offer a great product for free,
Speaker 1: you know, Fabric essentially trying to hopefully get you to
Speaker 1: my term life insurance at some point, and free will
Speaker 1: dot com. The way that they're able to offer their
Speaker 1: product for free is when you're finishing your will, they
Speaker 1: offer you the option of donating a certain percentage of
Speaker 1: your assets to nonprofit organizations, and those nonprofit organizations essentially
Speaker 1: pay Free Will to be on their website, to be
Speaker 1: in front of your face when you're choosing where you
Speaker 1: want your money to go, you know, when you die,
Speaker 1: and obviously you don't have to choose to donate your
Speaker 1: money to any of them, but I just kind of
Speaker 1: love that they both found a model for creating this
Speaker 1: ability for you to create a will for free, because
Speaker 1: in my mind, for me, the two biggest barriers to
Speaker 1: entry to create a will before I did it for
Speaker 1: the first time were money and time. I didn't want
Speaker 1: to spend any money to create a will because when
Speaker 1: you're in your thirties, you know, early thirties, you don't
Speaker 1: think you're ever gonna die. And I still don't think
Speaker 1: I'm going to, but I realized there's a chance. And
Speaker 1: then you also just don't want to spend any money
Speaker 1: on it, right you there's so many other places you
Speaker 1: want your money to go. That's spending, you know, even
Speaker 1: fifty six dollars on a will that you buy, you know,
Speaker 1: on Amazon. It just feels like this barrier to entry
Speaker 1: that you're not going to cross. And so these two
Speaker 1: websites will link to them in the show notes. They
Speaker 1: just make it an actual reality for most of us
Speaker 1: that if we're you know, in our twenties or thirties,
Speaker 1: we might actually do it because it's only gonna take
Speaker 1: five minutes and it's not going to cost us a dime. Yeah, man,
Speaker 1: that's good stuff. And so after you have that will
Speaker 1: set up, you want to review it with life changes
Speaker 1: and what that means is that if you have kids,
Speaker 1: or you know you might get married or even divorced,
Speaker 1: or if you have an increase in assets, do you
Speaker 1: want to review the will because at those points in
Speaker 1: time things have changed and at that point you might
Speaker 1: want your money to go to someone else or to
Speaker 1: instead go to this person or not this person, you know,
Speaker 1: I don't know whatever it might be for for your
Speaker 1: specific situation. Yeah, and if you have another child, you
Speaker 1: want to make sure that that child is named in
Speaker 1: your will exactly. Yeah, you want them included. Yeah, that
Speaker 1: newborn goes to the people that you desire your kids
Speaker 1: to go to. Or if you have a falling out
Speaker 1: with someone that is named in your will as a
Speaker 1: beneficiary and you want to change that, make sure you
Speaker 1: want you're on top of that. I know, I just
Speaker 1: thought of that. Like what if you you know, you
Speaker 1: had like a nasty divorce and you forgot to take
Speaker 1: that person out of your will and then you were
Speaker 1: to die and then they get all your money, right,
Speaker 1: or if you found a new podcasting partner and like
Speaker 1: that would be so brutal, man, that would be bad.
Speaker 1: And so obviously that's if something major happens in your life.
Speaker 1: But even if nothing major does happen, that's something you
Speaker 1: want to review annually. And so it's just sort of
Speaker 1: good to think. Maybe a lot people do this at
Speaker 1: the beginning of the year. They're looking ahead, setting goals.
Speaker 1: You think, Okay, what's is there something I want to change?
Speaker 1: Is there something that's maybe changed for me that I
Speaker 1: didn't you know, naturally think of. It's a good time
Speaker 1: to think of it fairly regularly of how might I
Speaker 1: want to, you know, change my asset allocation of you know,
Speaker 1: where my money would go after the fact. Yeah, And
Speaker 1: the great thing is you can always create a new
Speaker 1: one for free in a very short amount of time,
Speaker 1: and you can destroy your old will super quickly. Uh.
Speaker 1: The thing is, like we said, the barrier to entry
Speaker 1: is incredibly small, very small amount of time that you
Speaker 1: need to commit to creating this will and no money,
Speaker 1: and then you just have to find two witnesses that
Speaker 1: are over eighteen that will sign the will acknowledging that
Speaker 1: these are your final wishes, right, and you're done. Is
Speaker 1: it two witnesses for every state? Yeah? I think they do.
Speaker 1: At least free will dot Com offers you the ability
Speaker 1: to to add a third witness, you know, just in
Speaker 1: case something would have happen to one of your other witnesses.
Speaker 1: But it pretty much uch. In most dates, it's two witnesses.
Speaker 1: And I think there's another misconception that you have to
Speaker 1: have your will notarized, and that's just not true. You
Speaker 1: have to have two witnesses in most dates and no notary. Yes,
Speaker 1: you can have like two of your friends come over,
Speaker 1: have a beer, they'll sign your will, and uh yeah,
Speaker 1: it's pretty simple transaction. Yeah, super easy, super simple. I
Speaker 1: love it. All right, Matt, let's get back to the beer.
Speaker 1: It's from this awesome brewery that's just about an hour
Speaker 1: outside of Atlanta called Cherry Street Brewing Company, and this
Speaker 1: is a small batch, barrel aged stout called Sweet Leilanie.
Speaker 1: And holy crap, dude, this was really good. Yeah, fantastic stout.
Speaker 1: It'scott just amazing everything. Like I don't know how it
Speaker 1: is to describe it, Like, as we're pouring it, it
Speaker 1: just had that thick motor oil darkness to it. It
Speaker 1: didn't pour super viscous and so it wasn't like overly sticky.
Speaker 1: It had a good amount of uh what effervescence like bubbles,
Speaker 1: so you're drinking it, and it feels pretty light in
Speaker 1: your mouth, but it's just got all that flavor. It's
Speaker 1: got like the roasted chocolate, it's got like the dark
Speaker 1: lookiness that you want out of a stout. This is
Speaker 1: a fantastic beer. And honestly, this kind of gets me
Speaker 1: jazzed up for the fall, as like that we're about
Speaker 1: to have some more colder, colder days ahead of us,
Speaker 1: and having some nicer stouts like this gets me excited
Speaker 1: for the winter. Yeah, seriously, I know you and I
Speaker 1: are both kind of advocates of drinking beer in the season.
Speaker 1: They're supposed to be drunk or at least like we
Speaker 1: don't even care if other people do, I guess, but
Speaker 1: you and I both like to do that. Yeah, and yeah,
Speaker 1: a stout feels like inappropriate in July. It just feels weird, right,
Speaker 1: and and so it's nice to be kind of getting
Speaker 1: towards the season where a stout like this feels right
Speaker 1: stout season. You know what we're not going to have
Speaker 1: on the show, pumpkin spice beers. Don't get me started
Speaker 1: on pumpkin beers. So many of the pumpkin beers, the
Speaker 1: vast majority are just complete crap. It might be they're
Speaker 1: pretty terrible. Yeah, I mean, I'm just thinking of like
Speaker 1: pumpkin spice latte season because we're talking about drinking with
Speaker 1: the seasons and all that kind of stuff. So yeah,
Speaker 1: we don't adhere to that, like it's you know, the law,
Speaker 1: but it is nice having an appropriate uh season will beer. Yeah,
Speaker 1: and this uh sweet Leilannie from Cherry Street was an
Speaker 1: appropriate seasonal beer. This was so freaking good man, I
Speaker 1: really enjoyed it. So thanks for picking that up for me, man,
Speaker 1: glad I could all right, jel, it's time for us
Speaker 1: to do our final thoughts. But aren't wheels for old people, Maddie, No,
Speaker 1: they're not. Basically, if you have money, you know, if
Speaker 1: you have any assets to your name, or if you
Speaker 1: have kids, or if you have a spouse, if you
Speaker 1: can say yes to any of those three things, then
Speaker 1: you need to have a will. Most folks don't have
Speaker 1: a will because they feel they can put it off.
Speaker 1: They can put it off to another day. This is
Speaker 1: something that they don't have to address now. This is
Speaker 1: something that you do need to get to now. Yeah,
Speaker 1: and I completely understand that lazy approach, except for the
Speaker 1: fact that it's super quick, painless, and free, so it's
Speaker 1: not expensive and you don't need a lawyer in most cases.
Speaker 1: That's right, man. For the vast majority of situations out there,
Speaker 1: you can go with one of the free are just
Speaker 1: really cheap options out there. We're talking about free will
Speaker 1: dot com or meat fabric dot com. But if you
Speaker 1: want to pay for the software, you know there's willmaker
Speaker 1: as well. Will link to all three of those options
Speaker 1: in our show notes. Yeah, I mean, Matt, Ultimately we're
Speaker 1: all gonna die. Maybe that's in a zoo Lander style
Speaker 1: free gasoline fight accident. Who knows, it could be you're
Speaker 1: an airplane exactly exactly. It could be, you know, an
Speaker 1: airplane spontaneously combusting. There are so many ways that you
Speaker 1: could die, and you know, obviously it's a sad it's
Speaker 1: a sad thing. We don't want to leave our family
Speaker 1: and friends behind, but especially you don't want to leave
Speaker 1: them behind not taking care of And that's why it's
Speaker 1: important to create a will, especially when it's this easy.
Speaker 1: It makes me think of the analogy said earlier about
Speaker 1: like the e bikes versus regular bikes. You know, like
Speaker 1: if you've got a regular bike and you're just probably
Speaker 1: not going to ride it because you've got too many
Speaker 1: hills between you and your work. Well, you know, an
Speaker 1: e bike will get you moving, and you know getting
Speaker 1: on that at all is better than not being on
Speaker 1: a bike gets you out of the car. Yeah, exactly
Speaker 1: gets you out of the car. And you know, some
Speaker 1: of these free wheels online may not be the best
Speaker 1: or bulletproof solutions, but they are one hundred times better
Speaker 1: than not having one at all, which is why we
Speaker 1: recommend them. Yeah, something is better than nothing, and good
Speaker 1: is better than perfect. That's never gonna happen, that never
Speaker 1: gets delivered. That's right, all right, everyone, thanks for listening.
Speaker 1: Our home on the web is how to money dot com.
Speaker 1: We will have shown us up for this episode with
Speaker 1: all the appropriate links. That's right. And if you like
Speaker 1: what you hear and have found this episode helpful, please
Speaker 1: let us know. You can give us a review on
Speaker 1: Apple Podcasts. We would love to hear from you. While
Speaker 1: you're there, be sure to subscribe until next time. Man,
Speaker 1: best friends out, Best friends out? Mm hmmmmmm. Executed upon
Speaker 1: your execution