Ep 55: Sorting Out What’s Important About Legacy Planning

Most people realize that it’s usually best to have an estate planning attorney helping them with their estate plan, but it’s also important for the financial advisor to be part of that conversation.

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The Game Plan

On this episode, we’ll explore the role an advisor plays in the estate and legacy planning process and uncover some of the basic mistakes people often make when trying to sort all this out on their own.

As an advisor, we need to evaluate how in-depth your estate plan needs to be. For most people, you probably won’t need a trust. However, it will depend on your situation. If you want to pass money in your IRA on it’ll be a lot easier to look at your beneficiaries. These are some aspects that an advisor would help with. It’s about focusing on your retirement first and strategizing separately for your legacy whether that is separate savings or through life insurance. Estate planning is an ongoing process, make sure you are updating your beneficiaries and reviewing your plan regularly.

The X’s & O’s

Check out the timestamps below to skip around to specific topics on the show.

[1:01] Merry Christmas!

[1:57 ] What role does an advisor play?

[4:19] How do people view their legacy?

[7:05] What are some basic mistakes?

[8:15 ] Beneficiary designations not up to date

[9:21] Dale’s story with a client

As an advisor, what my roll is, is really to evaluate the need of how in depth the estate plan needs to be. For a lot of people, they don’t need to have a trust. 

– Dale Tondryk

More To Explore

Ep 80: Best Intentions, Bad Advice

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Ep 79: The Desire to Retire

People have different feelings when it comes to their desire to retire. We broke this concept down into five sections that we will explore today.

QUESTIONS FOR DALE?

MORE WAYS TO GET IN TOUCH

952-401-1671

dale@tondrykfinancial.com