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
Check the background of your financial professional on FINRA's Broker Check. Registered Representatives in the Simplifynance program offer securities through Cetera Advisors LLC (CA) a registered broker-dealer, member FINRA, SIPC. Advisory services are offered through Cetera Advisors LLC, an SEC Registered Investment Adviser. CA is under separate ownership from other named entities.
Individuals affiliated with Cetera firms are either Registered Representatives who offer only brokerage services and receive transaction-based compensation(commissions), Investment Adviser Representatives who offer only investment advisory services and receive fees based on assets, or both Registered Representatives and Investment Adviser Representatives, who can offer both types of services.
This site is published for residents of the United States only. Registered Representatives of Cetera Advisors LLC may only conduct business with residents of the states and/or jurisdictions in which they are properly registered. Not all of the products and services referenced on this site may be available in every state and through every representative listed. For additional information please contact the contact the representative(s) listed on the site, visit the Cetera Advisors LLC site at www.ceteraadvisors.com.