Avoid These Estate Planning Errors

It's so important, and in, in our previous episode with, with Fisa, we, we spoke about estate planning as a, as a whole with, with Angelique.

And, uh, part of a will is kind of tying all of that together, the, the estate plan.

And the reason why we emphasize these problems is because every problem that occurs is causing a delay for the estate to, to be administered, and that means for the heirs to receive the, the money and, and the assets that, that we're supposed to, to pass on to them.

And a lot of times we have maybe one of, one of the two, two, uh, parents are maybe the, the breadwinner, and they pass away.

And now the, the, the spouse and the kids are dependent on those, that money.

But now everything gets frozen in the estate until all of this is dealt with.

So every s- little technicality or thing that we haven't thought about will cause a delay, and that could cause big financial harm to, to those we leave behind.

So-

Absolutely

...

so, uh, we, if we haven't made it clear yet in this episode, it's one of those things as an adult that you have to do.

It's, it's not a, I'll get to it when I have time.

Like, if you're listening to this and you don't have a will, or you have a will but you haven't looked at it in years, get it in place.

Like [laughs] there's, there's no-

Right

... there's no way to sugarcoat this.

Um, Ricky is working in the industry.

He's, he's seeing this every single day where, where things play out that could have, problems that could have been prevented.

And unfortunately-

Right

... with investments, for example, if you make a mistake, you're still here to fix it.

Uh, if you make a mistake with your will and you pass away, there's, there's no, there's no undo but- button.

You can't go back and fix it.

It's, it's, it's done.

It's, it's done.