Estate planning is probably the least sexy topic in personal finance, but we need to talk about it. Death comes for all of us. David opens by telling us about the estate issues after his parents passed away, which made him passionate about this topic. Estate planning involves more than just wills, and it’s not just for rich people. The goal is to leave a legacy, not a mess. Professionals you need in your corner: accountant, lawyer, and financial planner. The professionals are there to help the executor settle your estate. Then, the conversation transitions from general ideas to Lauren’s situation specifically. It’s embarrassing, but she doesn’t have a will. Luckily, Lauren has encouraged her parents to get one, which they’ve just done, and she will have hers done by the end of 2024. Something else to consider: your digital footprint, like emails and passwords! David suggests having an envelope with everything your executor and beneficiaries need in it. Also, communication is key. An interesting trend is children fighting over estates before the parents pass away. Remember, that if you don’t have a plan, the government has one for you. Lauren shares a tough conversation her grandmother had about her estate going to her uncle instead of her mother. David continues the story he kicked off with, about fighting over his parents’ estate with his siblings. Even if you don’t want to go to a lawyer, do it online! Just do something.

If you liked this episode, you’ll also like episode 33: 5 talks you should have with your parents (one is about estate planning) and episode 159: what to do when you inherit a property or bequeath one.

About David:

David Edey is a Certified Executor Advisor with over 35 years of experience in the financial planning industry, specializing in estate and legacy planning. He is the author of the bestselling book, "Executor Help: How to Settle an Estate, Pick an Executor, and Avoid Family Fights," and hosts the Executor Help Podcast, guiding individuals to secure their legacies and maintain family harmony.

Connect with David:

www.davidedey.com X: https://x.com/DavidEEdey

Facebook: https://www.facebook.com/prepareyourexecutorprotectyourfamily

Linkedin: https://www.linkedin.com/in/david-edey-cea-b524342/

YouTube: https://www.youtube.com/channel/UCSpPucTHVEVN1AjXrSAl5Fg

Connect with Lauren:

https://www.realadultingiseasy.com/ ⁠⁠⁠https://twitter.com/AdultingIsEasy

https://www.instagram.com/adultingiseasyreal/⁠⁠