In this episode, host Rachel Stewart, financial advisor, welcomes her guest Stephanie Prestridge, an attorney at Lineage Law in Baton Rouge, Louisiana to discuss why we all should establish a will. Stephanie shares what new clients can expect, and why you should start sooner than later.
0:14 - Why do wills get put on the back burner by clients
0:44 - Stephanie’s clients are between their mid-20s through their mid-40s
2:20 - What is the purpose of a powers of attorney
3:10 - What happens if someone passes away without a will
3:44 - How does forced heirship work
4:49 - Is it difficult to establish a will if you are uneducated about it
5:40 - How long does the process of setting up a will take
7:20 - What is the value clients have seen with Stephanie’s fee structure
8:31 - Talking about a will doesn’t mean that death is going to happen
3 Key Points:
“When someone turns 18, take that now-adult child...and have their powers of attorney done.” – Stephanie
“You need to account for what happens if you live, just as much as you need to account for what happens when you die.” – Stephanie
“A trust is “a cup.” – Stephanie
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