Reimagining Estate Planning As Helping Clients Make Premade Decisions For Their Loved Ones
Description
Andrew Crowell, Vice Chairman of Wealth Management at D.A. Davidson returns to the show to explore a new perspective on estate planning: pre-making decisions for heirs and loved ones. Andrew and show host Mike Langford emphasize the importance of having conversations early and often to prevent emotional duress and ensure that family members are aware of the individual's wishes. They also discuss the significance of planning for digital assets, including passwords and online accounts. The conversation highlights the need for clear instructions on how to handle sentimental or private items after someone's passing.
Sponsored By:
PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup.
Resources Mentioned In This Episode:
Why Financial Advisors Should Teach Financial Literacy - Andrew's first appearance on the Modern Financial Advisor podcast.Protecting Your Clients And Your Firm From Financial Fraud - Andrew's second episode of the Modern Financial Advisor podcast."Life's Key Moments" - This is the D.A. Davidson resource Andrew mentioned toward the end of the episode.
Chapters
00:00 Introduction: Improving Sound Quality with PodBox
01:26 A New Perspective on Estate Planning
03:53 Pre-Making Decisions for Heirs
07:06 Avoiding Emotional Duress
09:44 Disposition of Sentimental Items
16:30 Planning for Digital Assets
23:27 Privacy Concerns and Personal Journals
28:12 Having a Partner to Dispose of Sensitive Items
29:09 The Importance of Conversations in Estate Planning
31:37 Challenges Faced by Individuals without Biological Heirs
34:27 The Concept of an Ethical Will
37:19 The Impact of Remarriage on Estate Planning
46:51 Senior Investor Protections and the Complexity of Digital Assets
53:13 The Role of Professional Advice in Estate Planning
Patrick Spencer, Managing Director of Moneytree Software, joins Mike Langford to explore how financial advisors can enhance client relationships through technology. They discuss the evolution of Moneytree, the importance of goals-based planning and Monte Carlo simulations, and the critical role...
Published 11/01/24
Jon Randall of XFA.Coach joins Mike Langford for an innovative exploration of strategies for growing financial advisory businesses. The conversation delves into the unique approach of XFA, the common constraints faced by advisors, and the importance of client optimization and...
Published 09/19/24