09/02/26 - Myths of Estate Planning pt.1

There are myths in estate planning? Oh,

yes.

There are plenty of myths in estate planning.

Boy, we get those myths in so many different ways.

For example, I belong to a national organization.

It's called the National Network of Estate Planning Attorneys.

And in our group, we have a character.

Her name is Marge.

Now, Marge is a fictitious character, but what Marge represents is – The individual that knows everything, that has an answer for everything.

So if you're sitting having a cup of coffee and you needed to know how to take out a stain, well, Marge knows.

If you needed financial advice, well, Marge certainly knows.

And if you had any questions about how to deal with your estate plan, Marge definitely knows.

Now, Marge, unfortunately, she gets her information from many different sources.

Primarily, Marge knows these things by experience.

So she watches everybody.

She watches how her next-door neighbor did it.

She has experiences with her own family.

She watches the farmer down the street.

She watches TV shows and she probably even looks at the almighty Google for her information as well.

So Marge, unfortunately, finds all these different resources and all these different experiences and starts combining them.

And she is very, very happy to share her experience with you.

The problem with Marge is that she loves to give information but truly does not have any expertise in any of them.

So she is going by her own experience.

She is going by her own knowledge and her own wisdom.

And I think that if we thought about it, boy, we all know Marge, don't we? And by the way, if your name is Marge, I'm very sorry.