Transcript
Speaker: Everyone dreams of living an uncommon life and the best asset you have to achieve your dreams is you. Welcome to the Uncommon Wealth Podcast.
Speaker: We're going to introduce you to people who are living uncommonly. We're also going to give you some tools and strategies for building wealth and for pursuing an uncommon path that is uniquely right for you.
Speaker: Hello fellow uncommoners, thanks for listening and tuning in. Today we're talking about something that I feel like a lot of times people maybe avoid or they don't want to do because it feels like adulting or whatever reason.
Speaker: Actually it's kind of a hard topic, but it's wills and trusts and the kind of end life, kind of like health initiative or healthcare advance directive. Sometimes it's called power of attorney, things like that. But the wills and trust every adult should know that you should be getting one and then putting one in place. And that requires a lawyer.
Speaker: You have to think through so a lot of things. But I wanted to give a little bit different perspective on this because I just had a client do this and I was like, this is such an amazing idea. And it gave me a little bit more excitement to do ah will and trust or be able to pitch it to somebody else.
Speaker: My wife and I have done this. We've gone through the hard conversations. But mainly, especially when you have little kids, it is to try to direct things if both you and your spouse were to pass away or as I like to call it, graduate.
Speaker: um and and And what happens to your money, to the kids, to try to kind of give them direction on how they get the money. But it's wills and trust. And then also there's a thing called a health care system.
Speaker: care directive or advanced healthcare care directive, almost like a living will. Like what happens if you're in a coma and things are going well, like can kind of give somebody direction. So you have to appoint all these people or you have to point people to all these different things. So for example, for my advanced healthcare care directive, I have my sister Trela to be able to kind of walk through what happens because I didn't want to put my parents in that situation.
Speaker: I feel like my sister would understand me and know like, Hey, he's on a ventilator. Let's give him a week or, or let's give him a couple days, see if there's any advancement. And if not, then we can, you know, pull the, pull the plug.
Speaker: But I felt like, again, that's a big responsibility for my sister, but I just didn't feel like it was right for my parents. And then, Also, who's going to watch over your kids and who's going to kind of raise your kids if you're gone. So these are really hard things to talk through, especially with a wife. It's not something you go to dinner and be like, hey, let's talk about if we die.
Speaker: um Not ideal. So anyway, so here's a different perspective. One, I think it's just good to get this done. I would say everybody that has gotten it done actually feels a sigh of relief.
Speaker: After it's done. But at first, it's just unknown territory. You don't really know. But OK, so one of my clients called me and told me that they got their wills and trust done and they did something amazing. Afterwards, they had the people over that they respected immensely enough to take over their trust. parenting rights if they were to pass away.
Speaker: And they had kind of a dinner or like a, not a celebration, but just like, Hey, we respect you so much. And would you be willing to, you know, care for our children if we were to be gone?
Speaker: And they made it more of an event. I don't believe they actually wrote their names in until they talked through that with them, but they did make it a bigger deal. and made it kind of like something to solidify um how much they respected this other couple, how much they cared for them, how much they valued their opinion, and they they wanted to encourage them, as well as kind of ask them, would would they be willing to step in as a parental role for their children?
Speaker: And I thought that was such an amazing thing to do that gave me a little bit different perspective on doing a wills, trusts, and you know this health directive. um And so I was kind of just... I wanted one, just get get in front of everybody that listens, give you a different perspective on this. So if you haven't done your wills and trusts, it's not that hard um just to ask a couple of friends of who did theirs and and what lawyer did they use.
Speaker: Again, it's going to be probably five to a thousand dollars, 500 to a thousand dollars to get it done. But once it's done, you feel such a sense of accomplishment as well as just being responsible and basically adulting.
Speaker: And so if you haven't got it done, maybe this is a different perspective for you to, to think about these things and then, and then provide a bigger kind of event in, in order to be able to kind of come to your family and friends and kind of talk through this with them. So hope this gives you a different wrinkle, a different perspective. But again, thank you for always listening to uncommon wealth partners and just giving a different perspective on life, because I think this uncommon viewpoint, this uncommon perspective is so valuable.
Speaker: And it's also, i think it's, it's, It's just attractive in this in this world. that's It's all too common. and So thank you for listening. And if you haven't got your wills and trust done, go ahead and either reach out to me, I can give you the lawyer that we used, or reach out to some family and friends that you know, like, and respect and ask them if they've got that done.
Speaker: Thanks for listening. Until next time, be in common.
Speaker: That's all for this episode brought to you by Uncommon Wealth Partners. Be sure to visit UncommonWealth.com to learn more about our services. Don't miss an episode as we introduce you to inspiring people who are actively pursuing an uncommon life.
