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532: Building Generational Wealth? Don’t Lose It with This ONE Critical Mistake

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Manage episode 420666085 series 1900058
Content provided by BiggerPockets. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by BiggerPockets or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

You’re working hard to build wealth, but without estate planning, your assets could easily land in the wrong hands, causing your family a great deal of trouble. No one likes thinking about their death, but you NEED to tackle this issue head-on if you hope to preserve your legacy!

Welcome back to the BiggerPockets Money podcast! Today, we’re tackling two of the most taboo topics—death and money—with estate and elder attorney Jenny Rozelle. If you’re nearly ready to retire, you MUST develop an estate plan. Otherwise, intestate succession laws will determine your fortune’s fate. Even if you’re young and have little to your name, there are basic steps you can take today to ensure that your current and future assets don’t go to the wrong person.

In this episode, you’ll learn how to find the BEST estate planning attorney and prepare for your first meeting. Jenny also shares the truth behind probate and why it isn’t nearly as painful as it sounds!

Stick around for part two, where we rapid-fire estate planning questions at Jenny as she shares information even we didn't know about!

In This Episode We Cover

Basic estate planning documents every person needs (regardless of age)

What really happens in probate court (and why it’s NOT as scary as it sounds)

Intestacy explained, and how to stop your assets from landing in the wrong hands

How to make sorting out your estate as easy as possible for your loved ones

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums

Finance Review Guest Onboarding

Join BiggerPockets for FREE

Mindy on BiggerPockets

Scott on BiggePockets

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Apply to Be a Guest on The Money Show

Podcast Talent Search!

Find an Investor-Friendly Agent in Your Area

Find Investor-Friendly Lenders

Property Manager Finder

BiggerPockets Money 397 - Estate Planning, Wills, and What to Do NOW to Protect Your Heirs

BiggerPockets Money 401 - The Post-Passing Plan: 3 Steps to Protect Your Family’s Financial Future

BiggerPockets Money 503 - How to Keep MORE of Your Inheritance From the IRS (Avoid These Tax Mistakes!)

00:00 Intro

01:27 Why You NEED an Estate Plan

07:52 Finding an Attorney & Probate 101

18:10 First Steps for Early Retirees

24:56 Getting Organized & Estate Planning Costs

37:00 Connect with Jenny!

37:29 Start Planning Today!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-532

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com

Learn more about your ad choices. Visit megaphone.fm/adchoices

  continue reading

559 episodes

Artwork
iconShare
 
Manage episode 420666085 series 1900058
Content provided by BiggerPockets. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by BiggerPockets or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.

You’re working hard to build wealth, but without estate planning, your assets could easily land in the wrong hands, causing your family a great deal of trouble. No one likes thinking about their death, but you NEED to tackle this issue head-on if you hope to preserve your legacy!

Welcome back to the BiggerPockets Money podcast! Today, we’re tackling two of the most taboo topics—death and money—with estate and elder attorney Jenny Rozelle. If you’re nearly ready to retire, you MUST develop an estate plan. Otherwise, intestate succession laws will determine your fortune’s fate. Even if you’re young and have little to your name, there are basic steps you can take today to ensure that your current and future assets don’t go to the wrong person.

In this episode, you’ll learn how to find the BEST estate planning attorney and prepare for your first meeting. Jenny also shares the truth behind probate and why it isn’t nearly as painful as it sounds!

Stick around for part two, where we rapid-fire estate planning questions at Jenny as she shares information even we didn't know about!

In This Episode We Cover

Basic estate planning documents every person needs (regardless of age)

What really happens in probate court (and why it’s NOT as scary as it sounds)

Intestacy explained, and how to stop your assets from landing in the wrong hands

How to make sorting out your estate as easy as possible for your loved ones

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums

Finance Review Guest Onboarding

Join BiggerPockets for FREE

Mindy on BiggerPockets

Scott on BiggePockets

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Apply to Be a Guest on The Money Show

Podcast Talent Search!

Find an Investor-Friendly Agent in Your Area

Find Investor-Friendly Lenders

Property Manager Finder

BiggerPockets Money 397 - Estate Planning, Wills, and What to Do NOW to Protect Your Heirs

BiggerPockets Money 401 - The Post-Passing Plan: 3 Steps to Protect Your Family’s Financial Future

BiggerPockets Money 503 - How to Keep MORE of Your Inheritance From the IRS (Avoid These Tax Mistakes!)

00:00 Intro

01:27 Why You NEED an Estate Plan

07:52 Finding an Attorney & Probate 101

18:10 First Steps for Early Retirees

24:56 Getting Organized & Estate Planning Costs

37:00 Connect with Jenny!

37:29 Start Planning Today!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-532

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com

Learn more about your ad choices. Visit megaphone.fm/adchoices

  continue reading

559 episodes

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