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Speaker 1: The only thing my grandmother had. The only thing my

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Speaker 1: great grandmother had was that house. It doesn't matter if

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Speaker 1: it's just that I think that we have to do

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Speaker 1: a better job of not comparing, like everything looks flashy

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Speaker 1: and shiny on social media. The first thing is that

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Speaker 1: I really don't have a lot. I don't care what

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Speaker 1: you have. You need to realize that it's worth it.

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Speaker 2: So why do you think that what you have is

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Speaker 2: not important.

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Speaker 1: Enough to protect? That doesn't make any sense. You worked

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Speaker 1: for it's yours.

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Speaker 2: Make sure nobody's taking it.

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Speaker 3: Everybody. Welcome to another episode of butter NOMIGX. I'm your host,

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Speaker 3: Brandon Butler, found in CEO of Butter atl And. Today

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Speaker 3: we got a special guests up in here and we

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Speaker 3: go way back like we go back you know again.

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Speaker 3: This is the thing, man, y'all think I'll be playing around, man,

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Speaker 3: I got deep relationships in this city. I know people,

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Speaker 3: and I've known people for a while. It's not a gate,

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Speaker 3: it's not a game. And I got my friend, my

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Speaker 3: homegrown Miss Amber Saunders is esquired up at une. Amber

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Speaker 3: Saunders esquire, how you doing man good? I'm doing great.

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Speaker 3: I'm doing great, so real quick, you know what Before

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Speaker 3: we get into that, We've been doing some a little

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Speaker 3: bit different here on button nomics lately. Right. I usually

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Speaker 3: have people introduce themselves, like you know, who are you

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Speaker 3: and all this kind of stuff. But what I've actually

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Speaker 3: been doing lately is I'm just asking chat Cheapt. So

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Speaker 3: I'm gonna tell you what chat Cheapt said about you

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Speaker 3: when I said, do you know who? Amber Saunders is

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Speaker 3: of the Saunders Firm.

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Speaker 1: Oh?

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Speaker 3: Okay, you ready for this?

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Speaker 2: Interesting? Okay?

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Speaker 3: Amber C. Saunders is the principal attorney at the Saunders

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Speaker 3: Firm in Atlanta based law practice, specializing in the state

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Speaker 3: planning and business law. She holds a Juris doctor degree

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Speaker 3: from Atlanta's John Marshall Law School and an LLM from

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Speaker 3: Emory University School of Law class of twenty twenty one.

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Speaker 3: Before practice in law, Ambers founded in Richmond Prepp, an

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Speaker 3: alternative test prep company, and authored Ahead of the Curve

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Speaker 3: What Parents Need to Know to Get their Kids Into College.

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Speaker 3: Her firm officer services in the state planning, a state administration,

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Speaker 3: and business law, aiming to help clients and protect generational wealth. Now,

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Speaker 3: my question for you is is that accurate? And did

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Speaker 3: it leave anything out?

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Speaker 2: I'm about to copy it. I like that.

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Speaker 3: You like that?

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Speaker 2: Yeah, I like you know, you didn't give too much.

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Speaker 2: It didn't give too much and gave just an.

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Speaker 3: You know, I've had a couple people because some people

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Speaker 3: a coup. People were like, you know, it's closed. They

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Speaker 3: left a couple of things out. But I think you know,

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Speaker 3: if you feel like that's kind of directionally on point,

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Speaker 3: you know.

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Speaker 1: Yeah, it's more, but like it didn't it didn't need

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Speaker 1: to read out my resume, So it's all right, Okay.

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Speaker 3: I like that now again just for a little context,

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Speaker 3: and we met long, long, long time ago, long time

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Speaker 3: ago of coming out of twenty ten? Was that it Yeah, yep,

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Speaker 3: it was around twenty ten. It was after I know,

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Speaker 3: I had won that Black Enterprise pitch competition and then

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Speaker 3: we got put in the the one hundred ue a

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Speaker 3: program that was a we're supposed to cut us some checks.

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Speaker 3: Did you ever get your check?

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Speaker 2: I think so.

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Speaker 3: I got a little bit of mine. I got a

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Speaker 3: little bit of mine, but you know I ain't get

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Speaker 3: all of it.

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Speaker 1: I think I did. Yeah, mine was at Justin's. Yeah,

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Speaker 1: that's where I did mine. Okay, that's what it was. Well,

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Speaker 1: we know I was at Justin's. There were some other

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Speaker 1: connections in there back in the day.

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Speaker 2: You know, yeah, who knows.

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Speaker 3: I don't know where all those folks are now, but

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Speaker 3: that was when that's when you were doing in Richmond prep, right,

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Speaker 3: that was when you were getting all that stuff going.

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Speaker 1: Yep, that's when I started it. I think I got mine.

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Speaker 1: Does that helped me with all of that stuff?

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Speaker 3: Yeah, that's when I had the website shop. I remember

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Speaker 3: I had to fight them to get a little bit

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Speaker 3: of my money and then they told me at a

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Speaker 3: certain point they were like, well Brandy, you can't really

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Speaker 3: so just for those that don't know, so we got

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Speaker 3: putting this accelerator program. I don't care. There are a

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Speaker 3: lot of business now, so we can say what every

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Speaker 3: want to say. We gotta put this accelerator program. I

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Speaker 3: think they promised both of us, Like was it one

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Speaker 3: hundred grand? It was ten? Okay, I know it was

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Speaker 3: some numbers on there. Yeah, it was ten grand or something.

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Speaker 3: And you know, I thought when I won the competition

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Speaker 3: they gave me a check, I was like, all right,

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Speaker 3: where my money at? And then the yeah, I took

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Speaker 3: the picture and then they were like, well, actually get

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Speaker 3: it over time, you get it over time, but we've

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Speaker 3: actually subcontracted this out to another company. In order for

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Speaker 3: you to get your money. Now, you got to go

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Speaker 3: through this business accelerator program. And at that time, I

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Speaker 3: was doing the website shop. I had a chain of

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Speaker 3: web design stores and like malls and brick and mortar,

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Speaker 3: and I remember I was just like, why you got

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Speaker 3: me in meetings with people asking how to build design

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Speaker 3: a logo, like I'm makinggn logos, I'm making stuff like

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Speaker 3: I'm a little bit further ahead.

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Speaker 1: Then.

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Speaker 3: I remember we got to a certain point and they

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Speaker 3: were when it was finally time to get the money,

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Speaker 3: they were like, well, in order to get the money,

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Speaker 3: you got to basically like write a request or a

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Speaker 3: proposal for why you need the money. This is again,

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Speaker 3: this is probably three or four months after we actually won.

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Speaker 3: And then on top of that, I remember they told

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Speaker 3: me that you can't ask for the money all at

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Speaker 3: once because other people need their money too.

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Speaker 1: Mm.

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Speaker 2: I don't think that happened to me, didn't happen to you? No.

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Speaker 1: I feel like I got mine all at once, because

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Speaker 1: I think I was one of the first.

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Speaker 3: Oh you you went through and got it.

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Speaker 1: I think they gave me my I think, I mean,

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Speaker 1: I still had to go through the program, but I

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Speaker 1: don't remember having to do a request. I remember other

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Speaker 1: people having to ask for it when we were going

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Speaker 1: through the power, but I don't remember having to do that.

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Speaker 3: Yeah, and then I remember I had to send a

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Speaker 3: very pointed email to the oh y'all, to the good

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Speaker 3: people at Black Enterprise, and I got my I got

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Speaker 3: I got some more of my money from them directly,

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Speaker 3: you know. So it was it was a mess.

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Speaker 2: You were causing a rucket.

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Speaker 3: I was causing all kinds of ruckets because I was like, yeah,

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Speaker 3: I need my money, all right right now, y'all gave

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Speaker 3: me this big old check.

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Speaker 2: I had that big check. Took this picture.

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Speaker 3: I think. I think I threw that check away a

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Speaker 3: couple of years ago. But I used to take that

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Speaker 3: check with me to stuff. I remember I went to

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Speaker 3: another pitch competition. I brought the check with me to

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Speaker 3: another pitch competition one time, like I was like, you

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Speaker 3: know what, if I ain't getting this money, I'm gonna

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Speaker 3: use this check to get me some more money. So

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Speaker 3: imagine that. Imagine me walking to a pitch competition to pitchbok.

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Speaker 3: Somebody else with somebody else's check and then being like,

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Speaker 3: y'all should give me this because I already won this one,

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Speaker 3: Like I know what I'm doing. I was wild out.

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Speaker 2: Back in the day. Oh that's fun. We've come a

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Speaker 2: long way since then, though, we've come a long way.

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Speaker 1: Look at us now, Okay, they'll doing this, They'll still

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Speaker 1: running doing businesses, trying to figure it out.

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Speaker 3: Trying to figure it out. Now, tell me now again

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Speaker 3: after that, tell me now what is the stist from

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Speaker 3: what exactly you're working on?

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Speaker 1: Now?

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Speaker 3: Chat chet to us a little bit, but now you

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Speaker 3: can tell.

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Speaker 1: Us a business and a state planning. The bulk of

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Speaker 1: the practice is a state planning because I just love

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Speaker 1: doing that. I think that it is really important. I

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Speaker 1: don't think there are enough people who do it, and

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Speaker 1: so that's my favorite kind a lot of practice. And

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Speaker 1: I wouldn't have thought so because it was born and

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Speaker 1: I don't know what in law school it was terrible.

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Speaker 3: No, what led you down that path? How did you

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Speaker 3: get involved in it?

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Speaker 1: My grandmother was the only person that I really knew

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Speaker 1: who did any estate planning.

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Speaker 2: And she did it. She like used to go.

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Speaker 1: Meet with her friends on Sunday and pick stocks and

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Speaker 1: she got long term care, insurance, health care directive, power, attorney,

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Speaker 1: all this stuff. So when she had a stroke and

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Speaker 1: her dementia got bet, it was really easy for my

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Speaker 1: mother and my uncle to take care of her. And

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Speaker 1: when she passed away, the property just was in their

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Speaker 1: name and there were no issues.

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Speaker 2: But then we saw all these.

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Speaker 1: Other people in my family who who folks was cutting

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Speaker 1: up And then the last person that died during her

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Speaker 1: time here is my uncle and my mother had to

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Speaker 1: go to court for like three years and some change,

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Speaker 1: and so it was like, well, why didn't y'all do

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Speaker 1: this when Grandma did it?

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Speaker 2: It didn't make any sense.

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Speaker 1: And finally my mother was able to sell the house

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Speaker 1: and that money that the house was originally my great grandmother's,

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Speaker 1: her grandmother.

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Speaker 2: It helped her pay for stuff when she was sick.

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Speaker 2: It helped all of this stuff.

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Speaker 1: And so I'm like, if just one house can do that,

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Speaker 1: imagine if all of us are setting up things for

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Speaker 1: our children, and yeah, you know, it can just eat.

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Speaker 2: I mean, we wouldn't have to do pitch competitions.

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Speaker 1: If there was some money through some money or somewhere

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Speaker 1: that might make it easier for you to start the business.

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Speaker 1: You don't have to go big banks or try and

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Speaker 1: do all this stuff because you have something there that

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Speaker 1: will allow you to be able to start something and

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Speaker 1: figure it out. So I just want to evangelize that

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Speaker 1: as much as possible, because I think we have a

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Speaker 1: thing in our community about making folks grind for stuff

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Speaker 1: all the time or like, well I worked for it.

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Speaker 2: They need to work. What help them? Help them a

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Speaker 2: little bit.

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Speaker 3: Helped them out, help them out.

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Speaker 1: You know.

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Speaker 3: It's interesting because I mean, again, I've worked with a

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Speaker 3: lot of people and one thing I've just again noticed

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Speaker 3: and realized over the years, especially in basically non black communities,

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Speaker 3: like get a lot of wealth comes from insurance and

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Speaker 3: passing down assets. I mean, don't even get me started

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Speaker 3: on the whole like big borrow and die and you

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Speaker 3: know all that kind of stuff, right, But like I

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Speaker 3: don't I think the people kind of missed that critical step.

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Speaker 3: Like I have a friend of mine. I remember he

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Speaker 3: started his business. He recently sold his company for millions

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Speaker 3: of dollars, and I used to work with him, and

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Speaker 3: I remember he had an uncle that passed away and

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Speaker 3: his uncle left him like a couple hundred grand and

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Speaker 3: that's what he used to fund his business, right, and

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Speaker 3: so I think getting people missed that step, and like

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Speaker 3: we were even talking about before, I'm like, look, gofund

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Speaker 3: me is not it should not be your option, right,

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Speaker 3: I mean, look, I understand stuff happens, but like go

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Speaker 3: fund me should not be the default way that we're

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Speaker 3: gonna put some of y'all on the ground. On top

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Speaker 3: of that, you're still not leaving anything for anybody. So

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Speaker 3: when it comes to a state plan and a lot

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Speaker 3: of people think it's only for wealthy people, people that

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Speaker 3: have money, you know, when did you realize that people

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Speaker 3: in our community especially were kind of missing out on

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Speaker 3: this critical.

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Speaker 1: Step because I thought back to childhood in life and

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Speaker 1: I don't even think i've ever heard a black person

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Speaker 1: say somebody died. They'll be like going up yonder a transition,

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Speaker 1: right got their wings. I mean, it's all kind of

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Speaker 1: and it's like if you don't even say the word,

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Speaker 1: you're not even dealing with it, Like you won't you're

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Speaker 1: not even thinking about this might happen to you, what

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Speaker 1: I need to plan for. We don't even want to ooh,

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Speaker 1: don't talk about it or something like that, or I

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Speaker 1: mean there's just and I don't want to call it

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Speaker 1: superstition because it's not like, oh, there's a black cat

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Speaker 1: walking by, But it's like we act like if you

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Speaker 1: talk about it, it's going to happen faster. And it's

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Speaker 1: not just us, like there are other communities in the

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Speaker 1: in the Latino community.

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Speaker 2: People don't talk about it.

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Speaker 1: Then like they're not planning for we're not talking about it,

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Speaker 1: and I think we leave our children, our community at

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Speaker 1: a disadvantage just period.

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Speaker 2: So that's one thing.

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Speaker 1: And then two we think we have time, like we

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Speaker 1: literally like, Okay, I'm gonna do it later.

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Speaker 2: I got too much other stuff to do.

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Speaker 1: Why am I going to sit here and start talking

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Speaker 1: about Well, if I'm in the hospital, this is what

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Speaker 1: I want to happen.

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Speaker 2: I don't want to do that. Yeah, like people just

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Speaker 2: will avoid that at all costs.

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Speaker 1: But you can see examples of I mean celebrities and

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Speaker 1: see how it can You know you don't you want

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Speaker 1: to tell people the same way you want to run

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Speaker 1: your business or you want to plan your vacation.

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Speaker 2: You want to plan what happens in the case of

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Speaker 2: an emergency.

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Speaker 3: Okay, so tell people if you don't do this, because again,

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Speaker 3: like here's the thing. Look, I hope everybody's here for

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Speaker 3: a long time. I wish all health and happiness and

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Speaker 3: wealth and all these things. But again, the reality is

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Speaker 3: we're all not going to be here. But if you

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Speaker 3: don't do these things, if you don't put these things

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Speaker 3: in place, what will happen.

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Speaker 1: So there's a few things. I mean, I think that

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Speaker 1: there are simple stories. One of one that I think

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Speaker 1: is in the news that people might remember is take

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Speaker 1: Off dying. And he didn't have a relationship with his father,

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Speaker 1: so he's not married, he doesn't have any kids. His

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Speaker 1: mother would get it, his mother and father would get it.

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Speaker 1: His father didn't raise him, according to reports. So now

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Speaker 1: this person is getting half of a twenty six million

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Speaker 1: dollar estate, and it is probably going to continue to

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Speaker 1: get money because there are royalties that would be.

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Speaker 2: Going from what all the songs that they had.

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Speaker 1: So now this person who didn't raise you private and

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Speaker 1: pay child support, didn't do whatever, gets half of your

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Speaker 1: stuff instead of your mother. But of course he was

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Speaker 1: twenty something years old. He didn't think he was gonna die, right,

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Speaker 1: So there's no plan not to mention the amount that

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Speaker 1: the estate is going to have to pay in taxes,

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Speaker 1: Aretha Franklin had a special need son. They're looking for

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Speaker 1: stuff on napkins and things like that. That, or it

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Speaker 1: can be as simple as siblings are arguing because whatever

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Speaker 1: beef they had growing up is going to show up

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Speaker 1: when someone passes away. Or the thing that I see

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Speaker 1: a lot is with blended families. People get married, they

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Speaker 1: have second marriages, and there's money and things that they

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Speaker 1: want for their children to be able to have, but

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Speaker 1: they didn't take care of it. So then the spouse

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Speaker 1: gets part of it. And if something happens to that

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Speaker 1: spouse and their children get it. And the person who

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Speaker 1: died doesn't want this other person's children to get their stuff.

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Speaker 1: They want their children to But you don't sit down

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Speaker 1: and go through that because it means you have to

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Speaker 1: have uncomfortable conversations.

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Speaker 2: Yea, and we do it all the time.

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Speaker 1: My grandparents did not get a divorce until they both

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Speaker 1: were about to marry somebody else.

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Speaker 2: So if they had died but they were in.

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Speaker 1: A relationship with someone else or had other kids, then

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Speaker 1: your ex gets everything. Because you don't want to sit

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Speaker 1: there and have a conversation about it, It just doesn't.

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Speaker 1: We can you can cause considerable harm to your family.

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Speaker 1: It can go through probate court if someone opens up

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Speaker 1: in a state, But if they don't and it's just there,

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Speaker 1: then you're living in the house, Grandma's house. Which is

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Speaker 1: why we have so many issues with airs property and

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Speaker 1: we can't you know, rehab or get mortgages on or

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Speaker 1: do things like that because it's not properly changed over.

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Speaker 1: And I mean, I don't even have a good reason

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Speaker 1: why we don't do it. Some of it I think

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Speaker 1: is we don't know, but a lot of it I

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Speaker 1: think is we just avoid it.

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Speaker 3: Yeah, Now, just for definition's sake, because I think sometimes

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Speaker 3: again language matters, words matter, And you know, when you

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Speaker 3: hear a state, you think some big you know, I

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Speaker 3: think about like Dallas show.

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Speaker 1: Dallas white fence and you have to go down a

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Speaker 1: couple acres before you get to the house.

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Speaker 3: Right Jr. You And you know what I'm saying, some

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Speaker 3: big But again, like what is the definition of an estate?

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Speaker 1: Just in general, anything that's in your name, that you own,

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Speaker 1: your shirt is a part of your state.

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Speaker 2: Anything that you have is a part of your estate.

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Speaker 1: And a state planning means that essentially you saying what

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Speaker 1: happens to those things if something happens to you and

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Speaker 1: what happens to your body or to your bank account.

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Speaker 1: So with the healthcare directive or a living will, you're saying,

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Speaker 1: if I can't make these decisions, this is.

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Speaker 2: What I want you to do.

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Speaker 1: It's dictating what happens with everything in your life, including yourself.

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Speaker 3: Okay, okay. Now, the other big word that we know

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Speaker 3: you see anytime you turn on social media, anytime you

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Speaker 3: look around, is generational wealth. Generational wealth. Got to have

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Speaker 3: generational wealth, you know. And look, a lot of us

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Speaker 3: are first generation, if we're just being totally honest, you

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Speaker 3: know a lot of I was having a conversation at

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Speaker 3: a location in Atlanta, very high up in the city,

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Speaker 3: and I was, you know, sitting this table with a

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Speaker 3: bunch of people that were definitely multi generational, and I

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Speaker 3: was explaining to them. I said, you know what, I'm

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Speaker 3: I'm first generation. I'm figuring this thing out too. You know,

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Speaker 3: I'm glad that I've got where I'm at. But like again,

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Speaker 3: like I don't have didn't nobody you know, my parents

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Speaker 3: are still here, thankfully, But like I said, nobody passed

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Speaker 3: me now any money or anything like that. But like

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Speaker 3: when it comes generational wealth, How do you define that

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Speaker 3: based on what you do?

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Speaker 1: By definition, generational wealth means this generation is passing something

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Speaker 1: down to the next. You can't have generational wealth without

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Speaker 1: making a plan to transition it, because that means you

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Speaker 1: just have wealth. It's not generational if it can't go.

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Speaker 2: Yeah to the next group.

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Speaker 1: So when people are saying we want generational wealth, they

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Speaker 1: really mean when I hear it, they really mean, let

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Speaker 1: me just make a lot of money. They're not talking

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Speaker 1: about how am I going to leave it for my children.

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Speaker 1: That's the part that they missed in the conversation.

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Speaker 3: You know, when people talk about the state planning and all,

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Speaker 3: and you know, in generational wealth, a lot of times

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Speaker 3: I guess they just think it starts to just really

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Speaker 3: just writing a will, Like is it more than that?

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Speaker 3: Are there other misconceptions that you kind of deal with

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Speaker 3: when you're talking about a state planning, Yeah.

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Speaker 1: Because it's you have to be more thoughtful than that.

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Speaker 1: Having a will isn't enough. I've seen too many times

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Speaker 1: that so you have a will, it has to go

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Speaker 1: to probate court. Probate court, they say the purpose of

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Speaker 1: probate court is is to make sure the will is

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Speaker 1: valid and follows the proper structure, and then to distribute

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Speaker 1: the assets. But in all honesty, the purpose to probate

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Speaker 1: court is to preserve your assets for the benefit of

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Speaker 1: your creditors, because they don't want people to die and

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Speaker 1: owe the hospital, owe all these people money and then

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Speaker 1: give stuff to their children and not pay these debts off.

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Speaker 1: So it is opening up, for example, the estate of

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Speaker 1: Amber Saunders, and if I had if once that death

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Speaker 1: certificate issues, my family or whoever is going to start

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Speaker 1: getting letters that says.

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Speaker 2: Oh, my condolence is for your loss. Who's going to

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Speaker 2: pay this bill?

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Speaker 1: Right? And so they're waiting to see if someone opens

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Speaker 1: in a state, they want you to notify them, and

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Speaker 1: there's ways for them to be able to see whether

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Speaker 1: or not, and then they're going to file a claim.

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Speaker 1: And so before the will can even work and give

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Speaker 1: something to your children or whomever else, all those creditors

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Speaker 1: have to be paid first.

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Speaker 2: Taxes have to be paid for whatever income you made

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Speaker 2: that year.

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Speaker 1: All of that is to pay off all of that debt,

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Speaker 1: and then whatever's left over goes according to your will.

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Speaker 2: And so there are ways to get around that.

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Speaker 1: So when people just want to have a will, or

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Speaker 1: they think, you know, TV does a disservice because they'll say, oh,

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Speaker 1: we're going to do a reading of the will. It's

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Speaker 1: like that don't matter because it's still got to go

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Speaker 1: to court and go through the process. So what you're

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Speaker 1: reading it for, you're not gonna get anything until it

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Speaker 1: goes through probate. Right, and now, if they were doing

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Speaker 1: a reading of the trust maybe or something like that,

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Speaker 1: like a trust will allow you a revocable living trust

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Speaker 1: will allow you to skip all of that, so your

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Speaker 1: trust would be the beneficiary of your bank accounts or

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Speaker 1: whatever you want to make to go inside of the trust,

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Speaker 1: you can change the deed to your house the warranty

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Speaker 1: ded to put the trust on there so that when

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Speaker 1: you pass, there's nothing to open up in a state

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Speaker 1: for it doesn't have to go through that process. So

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Speaker 1: then whoever you designate as the person in charge the trustee,

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Speaker 1: they can go the next day and sell whatever as

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Speaker 1: soon as they get the death certificate or whatever they

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Speaker 1: need to show that you are no longer there, then

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Speaker 1: they can follow your wishes, take care of everything, and

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Speaker 1: they don't.

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Speaker 2: Have to go get a GoFundMe.

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Speaker 3: Yeah now, yeah, you just brought up another term too,

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Speaker 3: a trust.

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Speaker 1: Again.

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Speaker 3: I hear that thrown around on social media all day.

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Speaker 3: I keep on hearing this is what the wealthy people do.

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Speaker 3: They put their stuff in the trust. And you do

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Speaker 3: this and so get what is a trust?

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Speaker 1: So it's an agreement that you make. Essentially, you're the

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Speaker 1: grantor meaning the person who created it. In these terms,

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Speaker 1: I mean whatever, You the person who made it. Right,

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Speaker 1: You make the trust, You decide who the trustee is.

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Speaker 1: Most of the time, you're going to be the trustee

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Speaker 1: of your revocable living trust. And it's an agreement that

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Speaker 1: you're making during your life to give these things over

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Speaker 1: to this trust and say what is supposed to happen,

440
00:18:31,560 --> 00:18:34,440
Speaker 1: How your children receive it, if they're allowed to sell

441
00:18:34,480 --> 00:18:37,119
Speaker 1: property do You're just saying what you want to happen.

442
00:18:37,400 --> 00:18:37,800
Speaker 2: That's it.

443
00:18:38,359 --> 00:18:42,240
Speaker 1: There's a revocable and an irrevocable revocable you can change

444
00:18:42,240 --> 00:18:44,520
Speaker 1: as many times as you want. The mortgage companies not

445
00:18:44,560 --> 00:18:47,200
Speaker 1: going to have a problem if you put your property

446
00:18:47,240 --> 00:18:51,280
Speaker 1: in it, because it's still attached to you. The EI

447
00:18:51,440 --> 00:18:53,960
Speaker 1: in is your Social Security number. You don't have to

448
00:18:53,960 --> 00:18:56,359
Speaker 1: file any taxes. It's not like it's a separate entity.

449
00:18:56,760 --> 00:18:59,000
Speaker 1: When you have an irrevocable trust, you are giving all

450
00:18:59,040 --> 00:19:00,760
Speaker 1: of whatever assets you want to put in there, you're

451
00:19:00,800 --> 00:19:02,679
Speaker 1: giving it away. Once you put it in there, you

452
00:19:02,720 --> 00:19:04,800
Speaker 1: cannot take it back. It does not belong to you.

453
00:19:05,320 --> 00:19:05,679
Speaker 2: That's it.

454
00:19:05,720 --> 00:19:08,240
Speaker 1: You're not the trustee. Most of the time. You cannot

455
00:19:08,240 --> 00:19:11,160
Speaker 1: be the trustee at all. You can't change the terms.

456
00:19:11,359 --> 00:19:13,600
Speaker 1: That's why it's irrevocable. You cannot revoke it.

457
00:19:13,680 --> 00:19:16,040
Speaker 2: That's it. When you do that, you might.

458
00:19:15,880 --> 00:19:18,920
Speaker 1: Be subject to gift tax if you're unless you're below

459
00:19:18,960 --> 00:19:22,000
Speaker 1: the exemption. And that's where people are like, oh, we

460
00:19:22,040 --> 00:19:26,480
Speaker 1: want asset protection during their life. Whatever these assets are

461
00:19:26,480 --> 00:19:29,919
Speaker 1: they're putting in there, it's protected from creditors under certain

462
00:19:29,920 --> 00:19:33,040
Speaker 1: conditions all of that. Most people don't need that in

463
00:19:33,080 --> 00:19:38,080
Speaker 1: all honesty, because we have this paranoia about, oh, I

464
00:19:38,119 --> 00:19:39,640
Speaker 1: want to protect my assets from creditors.

465
00:19:39,680 --> 00:19:40,760
Speaker 2: Who is coming to get you?

466
00:19:41,200 --> 00:19:44,040
Speaker 1: Like, and if you put things in there knowing someone's

467
00:19:44,080 --> 00:19:46,800
Speaker 1: coming to get you, it can be undone each state

468
00:19:46,840 --> 00:19:49,400
Speaker 1: there's a uniform, like I can't even remember the name

469
00:19:49,400 --> 00:19:51,520
Speaker 1: of it now because because I'm about to tell you

470
00:19:51,600 --> 00:19:54,199
Speaker 1: it's probably why I don't remember. But essentially, if if

471
00:19:54,280 --> 00:19:55,720
Speaker 1: you know of a creditor and things like that, and

472
00:19:55,760 --> 00:19:57,719
Speaker 1: you're trying to hide stuff, they can undo the transfer,

473
00:19:57,840 --> 00:20:02,240
Speaker 1: fraudulent transfer anyway, they'd consider that. So it just depends

474
00:20:02,320 --> 00:20:04,640
Speaker 1: on the circumstance under which you're transferring it. But it's

475
00:20:04,680 --> 00:20:07,720
Speaker 1: going to pay higher taxes, plays the highest tax rate

476
00:20:08,600 --> 00:20:09,960
Speaker 1: on any gains.

477
00:20:09,720 --> 00:20:10,400
Speaker 2: Things like that.

478
00:20:10,720 --> 00:20:13,600
Speaker 1: Depending on the circumstance, depending on how much money you have,

479
00:20:13,760 --> 00:20:17,000
Speaker 1: depending on what your profession is, you might need it,

480
00:20:17,480 --> 00:20:20,320
Speaker 1: but in general most of us do not. So when

481
00:20:20,320 --> 00:20:22,199
Speaker 1: people are calling my office saying they need a rock

482
00:20:22,240 --> 00:20:24,400
Speaker 1: a fella trust, I'm like, do you have Rockefeller money?

483
00:20:24,440 --> 00:20:27,320
Speaker 1: Because for what like it doesn't even make any sense

484
00:20:27,359 --> 00:20:29,560
Speaker 1: for you to make it that complicated for your family.

485
00:20:29,920 --> 00:20:32,280
Speaker 1: Just make sure it doesn't go to probate court and

486
00:20:32,320 --> 00:20:35,960
Speaker 1: tell them, teach them how to continue what you're doing.

487
00:20:36,000 --> 00:20:39,240
Speaker 2: But you don't. Necessarily it becomes irrevocable on your family anyway.

488
00:20:39,480 --> 00:20:41,960
Speaker 1: So like, once you die as the grant or the

489
00:20:41,960 --> 00:20:44,280
Speaker 1: person who creates it, nobody else can change the terms.

490
00:20:44,480 --> 00:20:46,760
Speaker 3: Okay, so they are stuck.

491
00:20:46,880 --> 00:20:49,320
Speaker 2: The same way it would be if you created one

492
00:20:49,320 --> 00:20:49,800
Speaker 2: for yourself.

493
00:20:49,840 --> 00:20:51,840
Speaker 1: Then so you can you really have the power to

494
00:20:51,880 --> 00:20:55,199
Speaker 1: craft it the way you want to make them or

495
00:20:55,240 --> 00:20:57,680
Speaker 1: to help them. You know, if you teach them the

496
00:20:57,760 --> 00:20:59,480
Speaker 1: right thing, they'll be able to preserve it and put

497
00:20:59,480 --> 00:21:01,000
Speaker 1: more things in and do all of that stuff.

498
00:21:01,119 --> 00:21:05,199
Speaker 3: Yeah, So estate planning is essentially coming up with a

499
00:21:05,240 --> 00:21:08,720
Speaker 3: plan for your state and figuring out what types of

500
00:21:08,760 --> 00:21:10,639
Speaker 3: things you need. Do you need a trust, Do you

501
00:21:10,720 --> 00:21:12,960
Speaker 3: need a revocal, irrevocable trust. Do you need a will?

502
00:21:13,040 --> 00:21:13,080
Speaker 1: Like?

503
00:21:13,280 --> 00:21:13,440
Speaker 3: Right?

504
00:21:13,520 --> 00:21:13,600
Speaker 1: Like?

505
00:21:13,640 --> 00:21:16,240
Speaker 3: That's basically it comes down that always people just mix

506
00:21:16,280 --> 00:21:17,400
Speaker 3: all this stuff together.

507
00:21:17,400 --> 00:21:19,639
Speaker 2: And I mean and that people will want to land.

508
00:21:19,800 --> 00:21:21,200
Speaker 1: All of that stuff is a part of a state

509
00:21:21,200 --> 00:21:23,240
Speaker 1: planning because the land of property, all that stuff is

510
00:21:23,240 --> 00:21:24,119
Speaker 1: a part of your estate.

511
00:21:24,200 --> 00:21:26,600
Speaker 2: So that's just a general name for it.

512
00:21:26,880 --> 00:21:29,719
Speaker 1: You might just want asset protection, you might just want

513
00:21:30,040 --> 00:21:32,080
Speaker 1: I mean, they're a trust where you just put life

514
00:21:32,119 --> 00:21:33,840
Speaker 1: insurance in there because you don't want it a part

515
00:21:33,880 --> 00:21:34,880
Speaker 1: of your taxable estate.

516
00:21:34,960 --> 00:21:37,040
Speaker 2: So it'll be an irrevocable life insurance trust.

517
00:21:37,320 --> 00:21:40,840
Speaker 1: Depending on your financial situation, how much money is there,

518
00:21:40,960 --> 00:21:43,399
Speaker 1: what you want to accomplish or determine what kind of

519
00:21:43,440 --> 00:21:46,199
Speaker 1: trust or what kind of things you might need. But

520
00:21:46,240 --> 00:21:48,040
Speaker 1: for most of us, we don't need things that are

521
00:21:48,040 --> 00:21:51,080
Speaker 1: that complicated. The real thought process needs to go into

522
00:21:51,640 --> 00:21:53,280
Speaker 1: what terms do we want to put in there? How

523
00:21:53,320 --> 00:21:55,320
Speaker 1: do we make sure because we might be we're the

524
00:21:55,320 --> 00:21:58,760
Speaker 1: first generation probably for a lot of people making the

525
00:21:58,760 --> 00:22:00,400
Speaker 1: most money. So how do we want to make sure

526
00:22:00,400 --> 00:22:03,560
Speaker 1: that our children or our beneficiaries, whoever you're leaving it to.

527
00:22:04,040 --> 00:22:05,359
Speaker 2: Don't blow it all?

528
00:22:05,680 --> 00:22:05,960
Speaker 3: Yeah?

529
00:22:06,080 --> 00:22:09,600
Speaker 2: How do you make sure that it grows or something

530
00:22:09,640 --> 00:22:09,800
Speaker 2: like that.

531
00:22:09,840 --> 00:22:11,960
Speaker 1: You're gonna have to lay a blueprint out because again

532
00:22:12,440 --> 00:22:13,800
Speaker 1: you're the first person who did it.

533
00:22:15,280 --> 00:22:15,760
Speaker 2: Who knows.

534
00:22:15,840 --> 00:22:18,840
Speaker 1: Maybe hopefully you're teaching them. If not, you're gonna have

535
00:22:18,880 --> 00:22:20,520
Speaker 1: to give them some guidance in the document to make

536
00:22:20,520 --> 00:22:22,040
Speaker 1: sure that they don't blow all of it.

537
00:22:22,600 --> 00:22:24,040
Speaker 3: Now, one thing you hear too when you talk to

538
00:22:24,040 --> 00:22:25,399
Speaker 3: people is just so at least I know I hear

539
00:22:25,400 --> 00:22:26,800
Speaker 3: when I talk to people is like I don't have

540
00:22:26,920 --> 00:22:30,200
Speaker 3: enough money or enough assets to have an a state plan? Like,

541
00:22:30,520 --> 00:22:32,120
Speaker 3: what's the reality behind that? Is that true?

542
00:22:32,320 --> 00:22:32,679
Speaker 1: Nah?

543
00:22:32,760 --> 00:22:35,199
Speaker 2: If you have anything? I mean, for my grandmother, it

544
00:22:35,240 --> 00:22:35,840
Speaker 2: was just a house.

545
00:22:36,520 --> 00:22:38,840
Speaker 1: That house that my grandmother had, that was my great

546
00:22:38,840 --> 00:22:41,720
Speaker 1: grandmother's was bought I don't know in the sixties.

547
00:22:41,760 --> 00:22:44,040
Speaker 2: I think my mother sold it.

548
00:22:44,600 --> 00:22:48,639
Speaker 1: Finally, in twenty twenty one, my mother was diagnosed with cancer,

549
00:22:48,760 --> 00:22:54,320
Speaker 1: March fourteenth, twenty twenty four. That house and that money

550
00:22:54,480 --> 00:22:56,439
Speaker 1: is what made her not have to work from my

551
00:22:56,560 --> 00:22:59,320
Speaker 1: great grandmother's house, so we don't have to be nothing

552
00:22:59,359 --> 00:23:02,359
Speaker 1: but that. But again they had a plan for it

553
00:23:02,400 --> 00:23:04,880
Speaker 1: and it was paid off. Sometimes people will just leave

554
00:23:04,920 --> 00:23:08,399
Speaker 1: someone a house. But if your income is gone and

555
00:23:08,440 --> 00:23:10,560
Speaker 1: you don't have enough life insurance, then can they pay

556
00:23:10,600 --> 00:23:13,480
Speaker 1: the mortgage? Right? Like, you know, you have to sit

557
00:23:13,520 --> 00:23:15,560
Speaker 1: there and think about that, because if you're the breadwinner

558
00:23:15,600 --> 00:23:17,200
Speaker 1: and you're leaving this person the house and then they

559
00:23:17,200 --> 00:23:19,280
Speaker 1: have to they can't maintain that lifestyle.

560
00:23:19,320 --> 00:23:20,400
Speaker 2: You really need to have a plan.

561
00:23:20,440 --> 00:23:23,160
Speaker 1: You need to talk to a financial advisor to see

562
00:23:23,200 --> 00:23:25,399
Speaker 1: how much insurance you need or how long will they

563
00:23:25,440 --> 00:23:27,680
Speaker 1: be able to maintain that lifestyle. If you're not there

564
00:23:27,720 --> 00:23:30,280
Speaker 1: and that income's not there. It just requires some thought.

565
00:23:30,320 --> 00:23:33,520
Speaker 1: You shouldn't just leave it. And they not really know

566
00:23:33,560 --> 00:23:35,439
Speaker 1: what it means to be a They can be a

567
00:23:35,480 --> 00:23:37,399
Speaker 1: home buyer, but they're not a homeowner. They don't know

568
00:23:37,400 --> 00:23:40,080
Speaker 1: that taxes are a part of it, so then taxes

569
00:23:40,080 --> 00:23:41,440
Speaker 1: don't get paid all of those things.

570
00:23:41,440 --> 00:23:43,560
Speaker 2: It just requires a little bit more work.

571
00:23:43,920 --> 00:23:46,000
Speaker 3: Yeah, Now a lot of people they might think this

572
00:23:46,119 --> 00:23:48,359
Speaker 3: all sounds. You know, they might be hesitanting because they

573
00:23:48,359 --> 00:23:51,240
Speaker 3: feel like it's expensive or you know, they can't afford it.

574
00:23:51,280 --> 00:23:53,280
Speaker 3: But like when it comes to just again like the

575
00:23:53,280 --> 00:23:57,040
Speaker 3: long term value of doing this plan in versus the risks,

576
00:23:57,080 --> 00:23:58,919
Speaker 3: Like how do you kind of communicate that to people?

577
00:24:00,119 --> 00:24:02,760
Speaker 1: Well, I mean, I'm gonna keep it a buck what

578
00:24:02,800 --> 00:24:04,320
Speaker 1: anybody who calls it they don't need it, I'm just

579
00:24:04,320 --> 00:24:06,520
Speaker 1: gonna tell them now I'll do this, like don't spend

580
00:24:06,520 --> 00:24:09,719
Speaker 1: this money. I feel like this is God's work, like

581
00:24:10,440 --> 00:24:13,480
Speaker 1: helping people do this because this can really change. If

582
00:24:13,520 --> 00:24:15,119
Speaker 1: things go the way they are, We're not gonna have

583
00:24:15,240 --> 00:24:16,840
Speaker 1: I mean, our community is not going to have a

584
00:24:16,880 --> 00:24:19,760
Speaker 1: lot of money, and what they said twenty fifty, it'll

585
00:24:19,800 --> 00:24:20,359
Speaker 1: be like zero.

586
00:24:21,440 --> 00:24:23,840
Speaker 2: So we have to like do something.

587
00:24:24,160 --> 00:24:27,280
Speaker 1: So I would rather, you know, tell people like, hey,

588
00:24:27,480 --> 00:24:29,920
Speaker 1: just update the beneficiaries. Do this if you're not trying

589
00:24:29,920 --> 00:24:33,240
Speaker 1: to do any you know, in depth planning. But they

590
00:24:33,280 --> 00:24:36,439
Speaker 1: need to just have a consultation. It's worth the money

591
00:24:36,480 --> 00:24:39,520
Speaker 1: to just talk to somebody and figure out what you

592
00:24:39,560 --> 00:24:41,359
Speaker 1: should do and then you can.

593
00:24:41,200 --> 00:24:41,800
Speaker 2: Plan for it.

594
00:24:41,880 --> 00:24:44,280
Speaker 1: If you feel like it's too much, then okay, what

595
00:24:44,359 --> 00:24:46,320
Speaker 1: can you do right now? Get a health care directive,

596
00:24:46,320 --> 00:24:48,560
Speaker 1: power of attorney and get it well. If you want

597
00:24:48,560 --> 00:24:50,919
Speaker 1: to plan for a trust later, then plan for the

598
00:24:50,920 --> 00:24:51,440
Speaker 1: trust later.

599
00:24:51,480 --> 00:24:53,040
Speaker 2: You don't have to do it all in one sitting.

600
00:24:53,280 --> 00:24:55,480
Speaker 1: But the alternative is for the state to decide what

601
00:24:55,600 --> 00:24:58,800
Speaker 1: to do with your stuff, for your family to potentially

602
00:24:58,800 --> 00:25:01,080
Speaker 1: be in conflict because you didn't write down what was

603
00:25:01,119 --> 00:25:02,920
Speaker 1: supposed to happen, and you trust them that your children

604
00:25:02,920 --> 00:25:04,280
Speaker 1: are not gonna act a fool when you know they

605
00:25:04,320 --> 00:25:07,639
Speaker 1: are or shout out Grandpa, like we went to this funeral,

606
00:25:07,680 --> 00:25:08,840
Speaker 1: I found I had another uncle.

607
00:25:10,080 --> 00:25:10,760
Speaker 3: You know what I'm saying.

608
00:25:10,920 --> 00:25:11,560
Speaker 2: That happens.

609
00:25:11,720 --> 00:25:14,240
Speaker 1: And so it's like, if you don't care about your family,

610
00:25:14,320 --> 00:25:16,680
Speaker 1: just say that, because essentially that's what you're saying.

611
00:25:16,720 --> 00:25:18,680
Speaker 2: They can fend for themselves. I'm going to be gone.

612
00:25:19,600 --> 00:25:22,760
Speaker 1: You don't think enough of them to make it easier.

613
00:25:23,119 --> 00:25:25,080
Speaker 1: And also think about the fact that they're going to

614
00:25:25,119 --> 00:25:27,240
Speaker 1: be grieving you. You're gone, so you want them to

615
00:25:27,240 --> 00:25:29,000
Speaker 1: have to handle your business and deal with your mess

616
00:25:29,040 --> 00:25:32,760
Speaker 1: and they can't even process the fact that you're not

617
00:25:32,800 --> 00:25:34,840
Speaker 1: there anymore to be there with them to sort through

618
00:25:34,880 --> 00:25:36,520
Speaker 1: for them to figure out what to do, like just

619
00:25:36,880 --> 00:25:38,280
Speaker 1: do them a solid.

620
00:25:38,680 --> 00:25:41,080
Speaker 3: So somebody's hearing this and they realize they do need

621
00:25:41,080 --> 00:25:42,760
Speaker 3: to do a state planning. Like, what's the first thing

622
00:25:42,800 --> 00:25:44,880
Speaker 3: they should do. What's the first step they should take.

623
00:25:45,320 --> 00:25:46,600
Speaker 2: I'd say, and that the.

624
00:25:46,600 --> 00:25:48,439
Speaker 3: First step is not just going on social media and.

625
00:25:50,800 --> 00:25:54,120
Speaker 1: Don't listen to all of those things. I would tell

626
00:25:54,160 --> 00:25:56,840
Speaker 1: people just go into it with an open mind because

627
00:25:56,840 --> 00:26:00,000
Speaker 1: I get a lot of I've talked to other states,

628
00:26:00,240 --> 00:26:02,040
Speaker 1: and we get people who are calling, and we have

629
00:26:02,200 --> 00:26:05,080
Speaker 1: to undo what people are saying on social media, so

630
00:26:05,119 --> 00:26:06,920
Speaker 1: people will call. I had somebody call me and tell

631
00:26:06,920 --> 00:26:08,600
Speaker 1: me they need a family office. I said, sys, how

632
00:26:08,680 --> 00:26:10,760
Speaker 1: much money you're trying to put in there? And she

633
00:26:10,920 --> 00:26:13,000
Speaker 1: was like, I'm building a trillion dollar company. Do you

634
00:26:13,080 --> 00:26:15,560
Speaker 1: have any money now? No, so don't spend it. That

635
00:26:15,600 --> 00:26:18,080
Speaker 1: doesn't make any sense, since like, what are you talking about.

636
00:26:18,200 --> 00:26:20,000
Speaker 1: You can't pay all of these people. And I had

637
00:26:20,040 --> 00:26:22,280
Speaker 1: to try and explain what it was. But she heard

638
00:26:22,359 --> 00:26:25,000
Speaker 1: somebody say that that's what rich people have, and it's like,

639
00:26:25,040 --> 00:26:29,200
Speaker 1: but you are right, I mean, And so it ends

640
00:26:29,280 --> 00:26:31,560
Speaker 1: up being a lot of work trying to undo some

641
00:26:31,600 --> 00:26:34,160
Speaker 1: of the So first I would just say, doing inventory

642
00:26:34,200 --> 00:26:36,520
Speaker 1: your assets, because that's one of the things that a

643
00:26:36,520 --> 00:26:39,080
Speaker 1: lot of people don't know what they have, so they

644
00:26:39,080 --> 00:26:41,320
Speaker 1: don't realize how much they have because they haven't really

645
00:26:41,359 --> 00:26:43,600
Speaker 1: looked at you had this many accounts, you have some crypto,

646
00:26:43,680 --> 00:26:46,840
Speaker 1: you have a house, you have it. They might have

647
00:26:46,960 --> 00:26:50,200
Speaker 1: five fifty thousand or ten thousand dollars insurance policies.

648
00:26:50,840 --> 00:26:52,879
Speaker 2: Maybe they kept it up, maybe it's term or not.

649
00:26:53,080 --> 00:26:54,360
Speaker 2: Just look at everything.

650
00:26:54,480 --> 00:26:56,639
Speaker 1: Just sit down and so that when you're going to

651
00:26:56,640 --> 00:26:59,640
Speaker 1: talk to somebody and you fill out whatever intake form

652
00:26:59,640 --> 00:27:02,440
Speaker 1: they have, you can say, let me show you mine,

653
00:27:03,160 --> 00:27:05,160
Speaker 1: and then they can kind of give you some guidance

654
00:27:05,200 --> 00:27:07,400
Speaker 1: on what to do. Most lawyers will be honest enough

655
00:27:07,440 --> 00:27:09,679
Speaker 1: and say, m M, you don't need a trust.

656
00:27:09,760 --> 00:27:10,240
Speaker 2: Just do this.

657
00:27:11,359 --> 00:27:14,040
Speaker 1: And you have to really think about what you want

658
00:27:14,080 --> 00:27:16,600
Speaker 1: to be done with it, because there are some people

659
00:27:16,600 --> 00:27:19,280
Speaker 1: who don't want I mean, we've had significant land loss

660
00:27:19,280 --> 00:27:20,879
Speaker 1: in our community. Do you really want them to be

661
00:27:20,960 --> 00:27:23,720
Speaker 1: able to sell it? If you don't, and you want

662
00:27:23,760 --> 00:27:25,480
Speaker 1: them to keep it? Do they know what to do

663
00:27:25,520 --> 00:27:27,560
Speaker 1: with it? If they don't, are you going to give

664
00:27:27,560 --> 00:27:29,639
Speaker 1: them some instructions in there? Like? You just have to

665
00:27:29,680 --> 00:27:31,919
Speaker 1: think through it, whether it's difficult or not. That's the

666
00:27:31,920 --> 00:27:35,040
Speaker 1: biggest blessing you let them just follow the steps, give

667
00:27:35,080 --> 00:27:36,240
Speaker 1: them the steps, give them the game.

668
00:27:45,400 --> 00:27:49,480
Speaker 3: I think for a lot of people to you know,

669
00:27:50,000 --> 00:27:51,800
Speaker 3: I mean there's one not known, but there could also

670
00:27:51,840 --> 00:27:54,240
Speaker 3: just be I don't know if it's embarrassment or just hesitation,

671
00:27:54,359 --> 00:27:56,920
Speaker 3: because yeah, like sometimes you do have to sit down

672
00:27:56,920 --> 00:27:58,919
Speaker 3: and look at the numbers sometimes and like, yeah, you

673
00:27:58,960 --> 00:28:01,280
Speaker 3: might not have a one hundred million dollars in the bank, right,

674
00:28:01,320 --> 00:28:03,240
Speaker 3: But like, how do you deal with people that are

675
00:28:03,280 --> 00:28:05,680
Speaker 3: just you know, apprehensive to even do this because they're

676
00:28:05,720 --> 00:28:08,200
Speaker 3: embarrassed when they actually put it down and say, you

677
00:28:08,280 --> 00:28:11,040
Speaker 3: know what, I'm actually not worth five million dollars. I'm

678
00:28:11,080 --> 00:28:14,080
Speaker 3: worth you know, five thousand dollars. But you still you

679
00:28:14,080 --> 00:28:16,080
Speaker 3: can still do this kind of work though, yeah, you.

680
00:28:16,160 --> 00:28:17,919
Speaker 1: I mean, you can't build anything if you don't if

681
00:28:17,960 --> 00:28:21,480
Speaker 1: you don't even have visibility, right, So you have to

682
00:28:22,040 --> 00:28:24,119
Speaker 1: This can be a starting point for you all to

683
00:28:24,200 --> 00:28:25,600
Speaker 1: make for you to make a chance, for you to

684
00:28:25,640 --> 00:28:27,439
Speaker 1: see this and say, okay, let me protect what I

685
00:28:27,440 --> 00:28:29,520
Speaker 1: have and then now I'm gonna come back and get

686
00:28:29,520 --> 00:28:33,160
Speaker 1: an amendment in three years because I've built more once

687
00:28:33,200 --> 00:28:35,840
Speaker 1: I saw what I had. But it just requires you

688
00:28:35,880 --> 00:28:38,120
Speaker 1: to have some sort of and it's you have to

689
00:28:38,240 --> 00:28:39,920
Speaker 1: just have the little courage.

690
00:28:39,960 --> 00:28:41,520
Speaker 3: I mean, I mean, correct me if I'm wrong, But

691
00:28:41,520 --> 00:28:43,600
Speaker 3: you're not laughing at nobody, or you're not judging nobody

692
00:28:43,600 --> 00:28:45,520
Speaker 3: if they coming to you and they don't, and you know,

693
00:28:45,560 --> 00:28:47,000
Speaker 3: because again they got to start somewhere.

694
00:28:47,040 --> 00:28:47,480
Speaker 2: You have to.

695
00:28:47,520 --> 00:28:50,640
Speaker 1: And I mean again, my my, the only thing my

696
00:28:50,720 --> 00:28:54,240
Speaker 1: grandmother had, the only thing my great grandmother had was

697
00:28:54,240 --> 00:28:54,720
Speaker 1: that house.

698
00:28:55,680 --> 00:28:57,840
Speaker 2: And it was important to us because they worked for it.

699
00:28:57,920 --> 00:28:59,120
Speaker 2: My great grandmother was a maid.

700
00:28:59,440 --> 00:29:02,560
Speaker 1: I don't know how she in Boston of all places

701
00:29:02,600 --> 00:29:05,320
Speaker 1: that you know what I mean, and bought these houses

702
00:29:05,320 --> 00:29:08,320
Speaker 1: on her own. It doesn't matter if it's just that,

703
00:29:08,640 --> 00:29:10,800
Speaker 1: Like I think that we have to do a better

704
00:29:10,920 --> 00:29:16,080
Speaker 1: job of not comparing. Like everything looks flashy and shiny

705
00:29:16,120 --> 00:29:19,160
Speaker 1: on social media. Yeah right, and so we're compared. Oh well,

706
00:29:19,640 --> 00:29:21,360
Speaker 1: the first thing is that I really don't have a lot.

707
00:29:21,440 --> 00:29:23,280
Speaker 1: I don't care what you have. You need to realize

708
00:29:23,280 --> 00:29:25,320
Speaker 1: that it's worth it. So why do you think that

709
00:29:25,320 --> 00:29:28,040
Speaker 1: what you have is not important enough to protect? That

710
00:29:28,080 --> 00:29:30,680
Speaker 1: doesn't make any sense. You worked for it, it's yours.

711
00:29:31,080 --> 00:29:32,200
Speaker 1: Make sure nobody's taking it.

712
00:29:32,480 --> 00:29:35,320
Speaker 3: Yeah, and again like these are your assets. Again, you

713
00:29:35,320 --> 00:29:37,120
Speaker 3: want to make sure that whatever it is, you will

714
00:29:37,120 --> 00:29:38,680
Speaker 3: to make sure that you can you have those and

715
00:29:38,720 --> 00:29:41,320
Speaker 3: you're not dealing with it now. A lot of people

716
00:29:41,360 --> 00:29:43,840
Speaker 3: that are entrepreneurs also listen to this podcast, and you

717
00:29:43,880 --> 00:29:46,640
Speaker 3: probably deal with those two, especially in the state like Atlanta. Like,

718
00:29:46,760 --> 00:29:49,480
Speaker 3: what are just some specific things that entrepreneurs should consider

719
00:29:49,640 --> 00:29:51,560
Speaker 3: when they're getting ready to go down this path of

720
00:29:51,600 --> 00:29:52,520
Speaker 3: a state planning man?

721
00:29:52,560 --> 00:29:54,479
Speaker 1: What happens to the business if something happens to you?

722
00:29:54,520 --> 00:29:56,960
Speaker 1: Can the business operate without you? If you are gone?

723
00:29:56,960 --> 00:29:59,400
Speaker 1: Does it fall apart? And if it does, what are

724
00:29:59,400 --> 00:30:02,200
Speaker 1: they supposed to do do with it? Like I have

725
00:30:02,360 --> 00:30:06,680
Speaker 1: clients who is a couple and the business is in

726
00:30:07,520 --> 00:30:12,239
Speaker 1: her name because they get designated as a minority all

727
00:30:12,280 --> 00:30:15,120
Speaker 1: this other stuff. But if something happens to her, he

728
00:30:15,240 --> 00:30:18,600
Speaker 1: loses some of those designations because it's tied to her.

729
00:30:19,000 --> 00:30:20,800
Speaker 1: Like do you all have a plan on what to do?

730
00:30:20,800 --> 00:30:23,960
Speaker 1: Do you have for example, key Man insurance? I refer

731
00:30:24,080 --> 00:30:27,480
Speaker 1: a lot of my clients to advisors to get something

732
00:30:27,520 --> 00:30:29,840
Speaker 1: like that. So that if you have a partner, a

733
00:30:29,880 --> 00:30:32,480
Speaker 1: business partner who you're not related to in any way,

734
00:30:32,640 --> 00:30:35,000
Speaker 1: do they really want to be in partnership with your spouse?

735
00:30:35,040 --> 00:30:38,160
Speaker 1: If you die, probably not, So you might need a

736
00:30:38,200 --> 00:30:41,200
Speaker 1: policy that pays for that interest that you have in

737
00:30:41,240 --> 00:30:45,080
Speaker 1: the business so that they're not having to deal with

738
00:30:45,120 --> 00:30:48,720
Speaker 1: your spouse. I had a client who was it was

739
00:30:48,760 --> 00:30:51,480
Speaker 1: three brothers. One of the brothers died. They had key

740
00:30:51,480 --> 00:30:54,080
Speaker 1: man insurance, but they talked to her and when he

741
00:30:54,240 --> 00:30:57,480
Speaker 1: died about ten years ago, they decided to keep the

742
00:30:57,520 --> 00:30:59,800
Speaker 1: money and grow the business and let her have an interest.

743
00:31:00,320 --> 00:31:04,640
Speaker 1: She is terrorizing them now she wants her son to

744
00:31:04,640 --> 00:31:07,480
Speaker 1: be a part Like they've never been involved in the business.

745
00:31:07,520 --> 00:31:09,640
Speaker 1: The two surviving brothers have been taking care of everything,

746
00:31:09,640 --> 00:31:12,040
Speaker 1: and now this person wants documents and they want to

747
00:31:12,040 --> 00:31:14,760
Speaker 1: be a part of They want to force their son

748
00:31:14,840 --> 00:31:16,280
Speaker 1: to be able to be in the business.

749
00:31:16,280 --> 00:31:19,720
Speaker 2: Who never like it's.

750
00:31:19,680 --> 00:31:22,640
Speaker 1: A nightmare because they didn't just pay it out and

751
00:31:23,160 --> 00:31:25,720
Speaker 1: follow the blueprint, get some money from somewhere else, let

752
00:31:25,720 --> 00:31:26,400
Speaker 1: this lady be gone.

753
00:31:26,400 --> 00:31:27,760
Speaker 2: They didn't think she was going to do that.

754
00:31:27,800 --> 00:31:30,200
Speaker 1: They thought she would just allow and they were like, well, Amber,

755
00:31:30,240 --> 00:31:31,719
Speaker 1: can I just pay the original amount?

756
00:31:31,760 --> 00:31:33,000
Speaker 2: Nope, the business is worth more.

757
00:31:33,040 --> 00:31:34,640
Speaker 1: Now you're not going to be able to just give

758
00:31:34,680 --> 00:31:36,600
Speaker 1: her that policy because the agreement wasn't with her.

759
00:31:36,640 --> 00:31:37,720
Speaker 2: You all let it go.

760
00:31:37,880 --> 00:31:41,760
Speaker 1: So like they're not planning for what happens if someone's gone,

761
00:31:42,000 --> 00:31:43,680
Speaker 1: and then a lot of business owners need to just

762
00:31:43,720 --> 00:31:46,200
Speaker 1: come up with some succession planning. If the business is

763
00:31:46,240 --> 00:31:48,160
Speaker 1: supposed to be able to operate without you, what does

764
00:31:48,160 --> 00:31:48,920
Speaker 1: that plan look like?

765
00:31:49,040 --> 00:31:51,360
Speaker 2: Yeah, who's going to who are you grooming.

766
00:31:51,040 --> 00:31:53,040
Speaker 1: In the business to take over the CEO spot or

767
00:31:53,080 --> 00:31:55,640
Speaker 1: whatever you're doing so that it's not tied to you?

768
00:31:55,680 --> 00:31:59,400
Speaker 1: One if you want to sell it, because a lot

769
00:31:59,440 --> 00:32:02,040
Speaker 1: of folks kids don't want their businesses. It's not like

770
00:32:02,040 --> 00:32:04,200
Speaker 1: people are passing them on to children. So who is

771
00:32:04,240 --> 00:32:06,760
Speaker 1: going to take it? Are the children or is the

772
00:32:06,840 --> 00:32:08,800
Speaker 1: plan to sell it or is the plan to make

773
00:32:08,840 --> 00:32:11,400
Speaker 1: sure that they can eat they're getting distributions or something

774
00:32:11,440 --> 00:32:13,000
Speaker 1: like that. But you have to plan that out because

775
00:32:13,040 --> 00:32:14,880
Speaker 1: otherwise they're gonna be doing a fire sale and selling

776
00:32:14,920 --> 00:32:15,400
Speaker 1: all the stuff.

777
00:32:15,480 --> 00:32:15,560
Speaker 2: Uh.

778
00:32:15,840 --> 00:32:19,360
Speaker 3: Yeah, Now you said something's there about key Man insurance,

779
00:32:19,360 --> 00:32:21,080
Speaker 3: and that's something I've heard that Tom, I've forgotten all

780
00:32:21,080 --> 00:32:25,040
Speaker 3: about that specifically. Are there other interesting or useful types

781
00:32:25,040 --> 00:32:27,640
Speaker 3: of insurance like that that people should also just in general?

782
00:32:27,680 --> 00:32:29,720
Speaker 3: Like you know, I'm I'm just curious, right, like, what

783
00:32:29,760 --> 00:32:32,600
Speaker 3: are some other unique types of insurance or you know,

784
00:32:32,640 --> 00:32:34,160
Speaker 3: things people should consider in that space.

785
00:32:34,880 --> 00:32:37,240
Speaker 2: I definitely would say everyone needs key man.

786
00:32:37,320 --> 00:32:40,320
Speaker 1: If you have a partner or you know, just figure

787
00:32:40,360 --> 00:32:42,120
Speaker 1: out how to make sure to get people out of

788
00:32:42,120 --> 00:32:45,360
Speaker 1: the way if you need it too. I don't think

789
00:32:45,360 --> 00:32:48,200
Speaker 1: I think people underestimate the value of long term care insurance.

790
00:32:48,200 --> 00:32:49,520
Speaker 1: I would just let the business pay for it if

791
00:32:49,520 --> 00:32:50,720
Speaker 1: you don't want to pay it for it, But like,

792
00:32:50,800 --> 00:32:54,680
Speaker 1: you need long term care because the cost of senior

793
00:32:54,720 --> 00:32:56,920
Speaker 1: living if you don't have all of that stuff is

794
00:32:56,960 --> 00:32:59,040
Speaker 1: a lot. And the reason why we didn't have to

795
00:32:59,040 --> 00:33:00,560
Speaker 1: put my grandmother in the home home, it's because she

796
00:33:00,600 --> 00:33:02,640
Speaker 1: paid for that. So a nurse came to her home

797
00:33:02,680 --> 00:33:04,560
Speaker 1: every day and bathed her and fed her and did

798
00:33:04,600 --> 00:33:07,240
Speaker 1: all of those things to make it easier for my uncle,

799
00:33:07,280 --> 00:33:10,760
Speaker 1: who was the main caregiver. People need to have that.

800
00:33:11,000 --> 00:33:14,880
Speaker 1: There's insurance for everything. I mean, when my mother got diagnosed,

801
00:33:14,880 --> 00:33:17,160
Speaker 1: I went and called Aflak the duck and got some

802
00:33:17,440 --> 00:33:20,600
Speaker 1: cancer insurance. There's insurance for everything, and I didn't even

803
00:33:20,640 --> 00:33:22,640
Speaker 1: know they had that until one of my clients told

804
00:33:22,680 --> 00:33:26,200
Speaker 1: me so. I mean, if you talked to an advisor

805
00:33:26,320 --> 00:33:28,840
Speaker 1: or you can find some insurance for a lot of things.

806
00:33:28,960 --> 00:33:32,240
Speaker 3: Yeah, really didn't. Yeah I didn't know about that. Yeah,

807
00:33:32,600 --> 00:33:34,560
Speaker 3: I've been under the AFFLAC headquarters a couple of times.

808
00:33:35,520 --> 00:33:37,000
Speaker 3: You know, you know, you know this is crazy, just

809
00:33:37,360 --> 00:33:39,400
Speaker 3: as totally as in a side on afflack. Have you

810
00:33:39,440 --> 00:33:42,880
Speaker 3: ever been down to Columbus to like afflet headquarters. So

811
00:33:42,920 --> 00:33:46,960
Speaker 3: the CEO of AFLAC at the headquarters, they have their big,

812
00:33:47,040 --> 00:33:49,240
Speaker 3: huge office right and then next to the office they

813
00:33:49,240 --> 00:33:52,720
Speaker 3: have a huge like parking deck. He built an Italian

814
00:33:52,840 --> 00:33:55,440
Speaker 3: villa on the top. You can look it up on Google.

815
00:33:55,680 --> 00:33:58,400
Speaker 3: A huge mansion Italian villa on the top of the

816
00:33:58,440 --> 00:34:02,560
Speaker 3: parking deck, direct next to athletic headquarters. He said he

817
00:34:02,760 --> 00:34:04,160
Speaker 3: didn't want to have to walk far to get home.

818
00:34:04,800 --> 00:34:06,160
Speaker 3: It's a different kind of money. I'm just trying to

819
00:34:06,160 --> 00:34:07,000
Speaker 3: tell folks.

820
00:34:06,600 --> 00:34:09,239
Speaker 2: That strowed off. You want to be that close.

821
00:34:09,000 --> 00:34:10,359
Speaker 3: To work, he said, he want to be that close

822
00:34:10,360 --> 00:34:12,120
Speaker 3: to work. He would work that much where. Literally you

823
00:34:12,160 --> 00:34:14,319
Speaker 3: can look it up. I've seen it. I've actually been

824
00:34:14,400 --> 00:34:15,000
Speaker 3: up there before.

825
00:34:15,120 --> 00:34:15,799
Speaker 2: So they need Joe.

826
00:34:15,800 --> 00:34:17,439
Speaker 1: You got to just not going to excuse me, sir,

827
00:34:17,640 --> 00:34:21,560
Speaker 1: if you come to work, you just I know that's interesting.

828
00:34:21,600 --> 00:34:22,520
Speaker 2: Now I'm gonna go look it up.

829
00:34:22,800 --> 00:34:26,600
Speaker 3: Total total random fact, total random fact. Sir, Please, if

830
00:34:26,640 --> 00:34:29,440
Speaker 3: you could tell every listener that we have, just like,

831
00:34:29,480 --> 00:34:31,360
Speaker 3: what's one thing they can do today to start protecting

832
00:34:31,400 --> 00:34:32,440
Speaker 3: their future and thinking about it?

833
00:34:32,480 --> 00:34:35,680
Speaker 1: What would it be, have conversations with their loved ones

834
00:34:36,280 --> 00:34:41,239
Speaker 1: about it, what they're thinking, what they would want to do.

835
00:34:42,080 --> 00:34:46,120
Speaker 1: Because I think also the planning doesn't have to be

836
00:34:46,160 --> 00:34:48,880
Speaker 1: a singular thing where you're just doing it yourself because

837
00:34:48,880 --> 00:34:51,200
Speaker 1: it's for your family. Really, estate plan is not for

838
00:34:51,239 --> 00:34:54,319
Speaker 1: you because you'll be gone anyway, right, but it's for them.

839
00:34:54,560 --> 00:34:56,640
Speaker 1: So talk to them kind of about, you know, whether

840
00:34:56,719 --> 00:34:58,400
Speaker 1: or not they want to participate in the process.

841
00:34:58,400 --> 00:35:01,880
Speaker 2: What does that look like? An example of?

842
00:35:02,080 --> 00:35:04,120
Speaker 1: And I mean I keep referencing my mother because it

843
00:35:04,160 --> 00:35:06,839
Speaker 1: was really the first time I had to go through

844
00:35:06,880 --> 00:35:09,120
Speaker 1: it myself when she was sick and I had to

845
00:35:09,120 --> 00:35:10,560
Speaker 1: tell her like I don't want to pull to plus

846
00:35:10,560 --> 00:35:12,920
Speaker 1: somebody else has to be I don't want to do it.

847
00:35:13,840 --> 00:35:17,719
Speaker 2: I'm an only child. Were gonna find a friend because.

848
00:35:17,480 --> 00:35:20,040
Speaker 1: I don't want to be the person like I'm fine

849
00:35:20,040 --> 00:35:21,640
Speaker 1: if someone else does it, but I don't want to

850
00:35:21,680 --> 00:35:23,880
Speaker 1: tell any money to take my mother off the machine.

851
00:35:24,160 --> 00:35:25,920
Speaker 2: M I'm not about to live with that. I don't

852
00:35:25,960 --> 00:35:27,560
Speaker 2: want to you be in my living room.

853
00:35:28,520 --> 00:35:31,239
Speaker 1: For ten years, like James, however long they had, you

854
00:35:31,360 --> 00:35:32,080
Speaker 1: gonna be here with me.

855
00:35:32,520 --> 00:35:33,480
Speaker 2: But I don't want to do it.

856
00:35:33,760 --> 00:35:36,040
Speaker 1: But without having that conversation, she's gonna put my name

857
00:35:36,040 --> 00:35:37,840
Speaker 1: on everything because I'm the only child. Listen, let me

858
00:35:37,880 --> 00:35:39,839
Speaker 1: tell you what my capacity is and what it's not.

859
00:35:40,680 --> 00:35:42,680
Speaker 1: And so until we sat there and had that conversation,

860
00:35:42,760 --> 00:35:44,560
Speaker 1: I probably would have been and she'd have been mad.

861
00:35:45,600 --> 00:35:47,400
Speaker 1: She'd have been mad coming back trying to haunt me.

862
00:35:47,880 --> 00:35:50,600
Speaker 1: But I just know myself. I know I don't want

863
00:35:50,600 --> 00:35:52,319
Speaker 1: to do it. You need to start having conversations with

864
00:35:52,360 --> 00:35:57,560
Speaker 1: your children, with your parents because old black people gonna

865
00:35:57,560 --> 00:36:00,520
Speaker 1: tell you it's none of your business and they don't

866
00:36:00,560 --> 00:36:03,880
Speaker 1: like So the easier you can make it for yourself

867
00:36:03,920 --> 00:36:06,560
Speaker 1: when it's time for you to take care of your parents, Like,

868
00:36:06,680 --> 00:36:10,520
Speaker 1: these conversations need to have be had before there's an emergency.

869
00:36:10,719 --> 00:36:13,360
Speaker 1: So I would just start with, Hey, what do you

870
00:36:13,400 --> 00:36:14,520
Speaker 1: want me to do? I just want to make sure

871
00:36:14,520 --> 00:36:16,560
Speaker 1: I don't do something wrong, I don't mess up. Can

872
00:36:16,600 --> 00:36:18,799
Speaker 1: you just help me out because I'm writing up my

873
00:36:18,840 --> 00:36:20,839
Speaker 1: own I just need to know. And if you make

874
00:36:20,840 --> 00:36:23,440
Speaker 1: your parents feel like they're helping you as opposed to

875
00:36:23,520 --> 00:36:24,640
Speaker 1: you taking something from them.

876
00:36:24,680 --> 00:36:27,200
Speaker 2: Oh you can't. My grandma was mad when we said

877
00:36:27,200 --> 00:36:27,839
Speaker 2: she couldn't drive.

878
00:36:27,880 --> 00:36:31,000
Speaker 1: Well, you turned in oncoming traffic, man, Yeah, so you can't,

879
00:36:31,600 --> 00:36:34,359
Speaker 1: but she didn't want that freedom taken away. Don't make

880
00:36:34,400 --> 00:36:36,520
Speaker 1: them feel like you're taking something away from them. Make

881
00:36:36,560 --> 00:36:38,600
Speaker 1: them feel like they're helping you, and they're more likely

882
00:36:38,640 --> 00:36:41,040
Speaker 1: to do it. I don't want to make the wrong decision,

883
00:36:41,120 --> 00:36:42,600
Speaker 1: do something wrong. I need you to help me and

884
00:36:42,600 --> 00:36:45,440
Speaker 1: write this down. Maybe that'll open up the conversation. But

885
00:36:45,480 --> 00:36:46,960
Speaker 1: you got to just start talking to people, because we

886
00:36:46,960 --> 00:36:48,239
Speaker 1: don't like communicating.

887
00:36:48,880 --> 00:36:51,239
Speaker 3: Yeah, no, I mean yes, it's a topic that we

888
00:36:52,160 --> 00:36:55,239
Speaker 3: definitely in our community we kind of avoid. And then

889
00:36:55,280 --> 00:36:56,719
Speaker 3: when it comes up, like you said, you're dealing with

890
00:36:56,760 --> 00:36:59,719
Speaker 3: a million other things. And you know, again, people a

891
00:36:59,719 --> 00:37:02,080
Speaker 3: lot of times think is just enough to have life

892
00:37:02,080 --> 00:37:04,160
Speaker 3: insurance in place, And I mean, I hope you people

893
00:37:04,160 --> 00:37:05,879
Speaker 3: will definitely kind of getting that part. But again, there's

894
00:37:06,040 --> 00:37:07,799
Speaker 3: other parts to it, because like you said before, if not,

895
00:37:08,440 --> 00:37:09,840
Speaker 3: what you don't want to do is certain having the

896
00:37:10,160 --> 00:37:12,640
Speaker 3: government and you know, and everybody getting involved and figuring

897
00:37:12,640 --> 00:37:14,359
Speaker 3: out how you're gonna split things up. When you're not here,

898
00:37:14,360 --> 00:37:16,319
Speaker 3: because like to your point, I mean, I've seen it

899
00:37:16,360 --> 00:37:19,000
Speaker 3: many times where you know, somebody passes away and they

900
00:37:19,040 --> 00:37:21,719
Speaker 3: have enough if they have a policy, you know, now

901
00:37:21,719 --> 00:37:23,600
Speaker 3: you got even the family like arguing about all right,

902
00:37:23,600 --> 00:37:26,320
Speaker 3: we're gonna split up. I mean I've been the situation

903
00:37:26,360 --> 00:37:29,040
Speaker 3: where I've literally seen the family argue over splitting up

904
00:37:29,080 --> 00:37:30,520
Speaker 3: what was left, and I mean everybody got like two

905
00:37:30,600 --> 00:37:31,200
Speaker 3: hundred bucks.

906
00:37:31,400 --> 00:37:34,040
Speaker 2: Right, It's like you and hope is not a strategy.

907
00:37:34,120 --> 00:37:36,320
Speaker 2: I hope they'll do the right thing. That don't work,

908
00:37:36,360 --> 00:37:38,560
Speaker 2: Like I hear people, well, I just hope that they will.

909
00:37:38,600 --> 00:37:41,520
Speaker 1: How about let's just give them some instructions that they

910
00:37:41,560 --> 00:37:44,560
Speaker 1: have to follow instead of just hoping. We have to

911
00:37:44,600 --> 00:37:46,840
Speaker 1: do more than that, because if you want your family

912
00:37:46,880 --> 00:37:51,080
Speaker 1: to stay together, be together any of those things, the

913
00:37:51,280 --> 00:37:55,440
Speaker 1: likelihood is that they will fight over two hundred dollars

914
00:37:55,560 --> 00:37:56,879
Speaker 1: is way larger than you think.

915
00:37:57,080 --> 00:38:01,359
Speaker 3: Absolutely. Now, one thing, I I'm sure people also kind

916
00:38:01,360 --> 00:38:03,600
Speaker 3: of want to just in general, how much is this

917
00:38:03,680 --> 00:38:06,080
Speaker 3: kind of thing cost? Right, and again you don't have

918
00:38:06,120 --> 00:38:08,320
Speaker 3: to be like overly specific, but again we're talking about

919
00:38:08,680 --> 00:38:10,799
Speaker 3: tens of thousands of dollars to get this stuff done,

920
00:38:10,920 --> 00:38:12,719
Speaker 3: or like like how much does it cost, like just

921
00:38:12,760 --> 00:38:16,200
Speaker 3: the average person that doesn't have, you know, again, millions

922
00:38:16,239 --> 00:38:18,480
Speaker 3: of bucks or like huge assets and all that stuff.

923
00:38:18,920 --> 00:38:21,080
Speaker 2: It's gonna cost you a couple thousand dollars at least.

924
00:38:21,360 --> 00:38:23,920
Speaker 1: It depends on I would try and find an attorney

925
00:38:23,920 --> 00:38:27,040
Speaker 1: that does flat fees because I'm not a fan of billing.

926
00:38:27,400 --> 00:38:28,160
Speaker 2: You don't want to call.

927
00:38:28,280 --> 00:38:31,080
Speaker 1: You don't want to feel like you're calling them, and

928
00:38:31,120 --> 00:38:32,719
Speaker 1: then you're gonna get a bill for ninety dollars for

929
00:38:32,719 --> 00:38:35,880
Speaker 1: fifteen minutes because you're gonna stop asking questions, right, and

930
00:38:35,960 --> 00:38:38,120
Speaker 1: so it deters And part of you going through that

931
00:38:38,200 --> 00:38:40,160
Speaker 1: process is for you to get some education and know

932
00:38:40,200 --> 00:38:42,399
Speaker 1: how to operate. I want, at the end of the day,

933
00:38:42,440 --> 00:38:44,560
Speaker 1: anybody who leaves my office to know how to put

934
00:38:44,760 --> 00:38:46,239
Speaker 1: assets into trust without me.

935
00:38:46,560 --> 00:38:48,080
Speaker 2: You shouldn't have to. Now, if you want to call,

936
00:38:48,160 --> 00:38:50,440
Speaker 2: that's fine. You shouldn't have to. This is your stuff.

937
00:38:50,480 --> 00:38:52,239
Speaker 1: You should know how to maneuver it and know how

938
00:38:52,280 --> 00:38:54,080
Speaker 1: to do all those things. So through the process, we

939
00:38:54,120 --> 00:38:56,640
Speaker 1: want to educate you. So I would look for someone

940
00:38:56,680 --> 00:38:58,759
Speaker 1: who has a flat fees so that you don't have

941
00:38:58,800 --> 00:39:00,080
Speaker 1: to worry about that and you can get it as

942
00:39:00,160 --> 00:39:02,719
Speaker 1: much information as you can, but if you need to,

943
00:39:03,120 --> 00:39:04,920
Speaker 1: there's some people who might need to do it yourself.

944
00:39:04,960 --> 00:39:07,840
Speaker 1: Start somewhere. I'm not a I mean, I think I

945
00:39:08,280 --> 00:39:11,080
Speaker 1: don't like templated stuff. I don't like you not sitting

946
00:39:11,120 --> 00:39:13,120
Speaker 1: down and just talking about your family.

947
00:39:12,800 --> 00:39:14,080
Speaker 2: And going through those things.

948
00:39:14,520 --> 00:39:17,120
Speaker 1: But if you have to do that in the beginning,

949
00:39:17,160 --> 00:39:19,560
Speaker 1: I'd rather you have something than nothing. Go to one

950
00:39:19,600 --> 00:39:22,799
Speaker 1: of the websites, get something, do that, but don't go

951
00:39:22,920 --> 00:39:26,200
Speaker 1: to the people on the interweb and get people who

952
00:39:26,239 --> 00:39:30,000
Speaker 1: are non lawyers selling you stuff, and then it doesn't work.

953
00:39:30,040 --> 00:39:34,320
Speaker 2: I've had to had people give somebody who.

954
00:39:34,160 --> 00:39:37,440
Speaker 1: Was non attorney person in another state like six grand.

955
00:39:38,400 --> 00:39:43,320
Speaker 1: You ain't somebody six grand who wasn't like, there's no repercussion.

956
00:39:43,360 --> 00:39:44,960
Speaker 2: You can't get the money back, there's nothing like.

957
00:39:45,800 --> 00:39:48,000
Speaker 1: There's a lot of the only bad thing I love

958
00:39:48,080 --> 00:39:50,480
Speaker 1: the Internet, but it made everybody feel like they had

959
00:39:50,520 --> 00:39:52,560
Speaker 1: a right to an opinion and to tell people all

960
00:39:52,600 --> 00:39:54,399
Speaker 1: sorts of things, and a lot of the times is wrong.

961
00:39:54,600 --> 00:39:57,560
Speaker 1: So just try and find somebody. See if you can

962
00:39:57,600 --> 00:39:59,840
Speaker 1: pay for a consultation. If you feel good about it,

963
00:40:00,200 --> 00:40:02,080
Speaker 1: for it, but just understand the price structuring.

964
00:40:03,080 --> 00:40:03,640
Speaker 2: Just try it.

965
00:40:03,640 --> 00:40:05,600
Speaker 1: It's going to depend on the complexity. But like I said,

966
00:40:05,640 --> 00:40:07,240
Speaker 1: most people don't need anything complex.

967
00:40:07,560 --> 00:40:09,239
Speaker 3: Yeah, I mean, and you I'll just learned something to

968
00:40:09,239 --> 00:40:11,080
Speaker 3: even for you. Like again, like you could, you could

969
00:40:11,080 --> 00:40:12,520
Speaker 3: set it up so that you can do it yourself

970
00:40:12,520 --> 00:40:14,640
Speaker 3: and you don't necessarily have to call an attorney every time.

971
00:40:14,560 --> 00:40:15,719
Speaker 2: Right every time? You should not.

972
00:40:15,719 --> 00:40:17,719
Speaker 1: I don't want anybody to Oh, I bought a new house,

973
00:40:17,880 --> 00:40:19,800
Speaker 1: what do I do? You know how to put it

974
00:40:19,840 --> 00:40:21,879
Speaker 1: in there? Because I'm going to tell you beforehand. As

975
00:40:21,920 --> 00:40:24,480
Speaker 1: long as you're not changing the actual document, you shouldn't

976
00:40:24,520 --> 00:40:26,040
Speaker 1: have to go to them every time and pay for that.

977
00:40:26,280 --> 00:40:27,640
Speaker 2: You should be able to do it yourself.

978
00:40:27,760 --> 00:40:30,839
Speaker 3: Okay, okay, Well look, if you need somebody to do this,

979
00:40:31,520 --> 00:40:34,279
Speaker 3: which I would definitely recommend everybody looks into it, you

980
00:40:34,320 --> 00:40:37,359
Speaker 3: should definitely consider Amber and the Saunders Firm. So if

981
00:40:37,360 --> 00:40:39,040
Speaker 3: they do want to reach out to get more information,

982
00:40:39,080 --> 00:40:40,719
Speaker 3: how can they get in contact with you and learn

983
00:40:40,719 --> 00:40:41,960
Speaker 3: more about this process?

984
00:40:42,480 --> 00:40:42,880
Speaker 2: Thank you.

985
00:40:42,880 --> 00:40:46,600
Speaker 1: Our website is Thesaundersfirm dot com sa U n d

986
00:40:46,960 --> 00:40:49,759
Speaker 1: ers who. A phone number is six seven eight six

987
00:40:49,840 --> 00:40:52,520
Speaker 1: eight zero four three three six, or you can I'm

988
00:40:52,600 --> 00:40:55,359
Speaker 1: on Instagram. Mostly I'm trying to do better and get

989
00:40:55,400 --> 00:40:58,600
Speaker 1: on TikTok, but that's the lord's work. My instagram is

990
00:40:58,680 --> 00:41:01,960
Speaker 1: ask Amber Saunders, okay, and then I can point them

991
00:41:01,960 --> 00:41:03,520
Speaker 1: in the right direction and go from there.

992
00:41:03,560 --> 00:41:05,280
Speaker 2: But there's plenty of information.

993
00:41:05,320 --> 00:41:09,080
Speaker 1: There's other attorneys here, just you know, talk see who's

994
00:41:09,120 --> 00:41:11,040
Speaker 1: a good fits like Dayton check them out.

995
00:41:11,320 --> 00:41:12,799
Speaker 2: Yeah, see absolutely how it.

996
00:41:12,719 --> 00:41:15,280
Speaker 3: Works, Absolutely well. Amber, Thank you so much for pulling

997
00:41:15,360 --> 00:41:18,440
Speaker 3: up shared a lot of great information. Y'all. Please take

998
00:41:18,480 --> 00:41:21,000
Speaker 3: this information and do something with it. And make sure

999
00:41:21,040 --> 00:41:23,320
Speaker 3: again we're not doing go fund me. Y'all were taking

1000
00:41:23,320 --> 00:41:26,200
Speaker 3: care of our business. Okay, we're handling business in twenty

1001
00:41:26,200 --> 00:41:26,839
Speaker 3: twenty five and.

1002
00:41:26,760 --> 00:41:28,759
Speaker 2: Beyond, nobody else gonna handle it for us.

1003
00:41:28,880 --> 00:41:31,000
Speaker 3: Ain't that right? Well? Thank y'all. Thank you so much

1004
00:41:31,040 --> 00:41:32,759
Speaker 3: for listening to y'all. And that's the pod we out.

1005
00:41:33,760 --> 00:41:35,560
Speaker 3: You've been listening to button Nomics and I'm your host,

1006
00:41:35,600 --> 00:41:38,839
Speaker 3: Brandon Butler. Got comments feedback? Want to be on the show,

1007
00:41:39,040 --> 00:41:42,120
Speaker 3: Send us an email today at hello at butternomics dot com.

1008
00:41:42,360 --> 00:41:45,440
Speaker 3: Butter Nomics is produced in Atlanta, Georgia at iHeartMedia by

1009
00:41:45,520 --> 00:41:48,880
Speaker 3: Casey Pegram, with marketing support from Queen and Nikki. Music

1010
00:41:48,920 --> 00:41:51,600
Speaker 3: provided by mister Hanky. If you haven't already hit that

1011
00:41:51,600 --> 00:41:54,080
Speaker 3: subscribe button and never missed an episode, and be sure

1012
00:41:54,080 --> 00:41:56,520
Speaker 3: to follow us on all our social platforms at butter

1013
00:41:56,600 --> 00:41:59,919
Speaker 3: dot Atl. Listen to Better Nomics on the iHeartRadio app,

1014
00:42:00,040 --> 00:42:02,400
Speaker 3: Apple Podcasts, or wherever you get your podcasts.

1015
00:42:10,040 --> 00:42:10,480
Speaker 1: Mm hmm