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 73: Getting it Right: Irreversible Financial Decisions

There are plenty of decisions that you’ll make in the retirement planning process that can’t be undone, so you want to make sure that you make the right call. In this episode, we’ll explain why these decisions are so important and can’t be undone.

Ep 72: Can’t Get No Satisfaction… Or Can You?

Want to know the secrets to experiencing satisfaction in retirement? We’ve discovered five key situations in which your financial plan needs to lead you. If you can key in on these five points, you’ll have a high chance to achieve retirement satisfaction.

Ep 71: Going Against the Grain to Achieve Your Retirement Goals

Being a good advisor isn’t about winning a popularity contest or just saying the same things that everyone else in the industry says. It’s about giving the best advice that you can for each individual situation. On today’s show, we’re going to peel back the curtain to discuss some areas where a good financial advisor’s opinions might go against the grain with mainstream ideas in the industry.

QUESTIONS FOR DALE?

MORE WAYS TO GET IN TOUCH

952-401-1671

dale@tondrykfinancial.com