#7 - Establishing a Will & Overcoming Your Roadblocks
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.
Show Notes:
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:
Powers of Attorney are documents that would take effect while you’re alive and would provide for someone else to step in your shoes.
If you don’t write a will, the state of Louisiana will write one for you.
Lineage Law uses flat fees instead of billable hours.
Quotes:
“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
#7 - Establishing a Will & Overcoming Your Roadblocks
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.
Show Notes:
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:
Quotes:
“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
Resources Mentioned:
simplyfinance.com
Contact Information:
Rachel Stewart
www.lineagelaw.com
Stephanie Prestridge - Linkedin