Do you know what happens to your policies or even the care of your kid’s should something happen to you? Will they be provided for? Will they have money for schooling and costs of living? Do you have a trust in place? What are the essentials of finding a great living trust attorney to work with?
I am so excited to have Greg Ashcraft on the podcast. Listen up Mama, Greg is going to share some amazing advice on the 5 pitfalls to avoid when creating your Estate Plan, and also explain to you why it’s so important to have one in place.
Meet Greg Ashcraft
Greg Ashcraft is an estate planning attorney from San Diego. He has been practicing law for over 8 years and owns The Ashcraft Firm in Murrieta, which his mother founded in 1998.
The firm practices estate planning, probate, trust administration, and bankruptcy.
He and his wife, Rachel, love music and met at Murrieta Valley High School when they were in choir together.
They still sing regularly and play various musical instruments. Their four children now follow in their musical footsteps!
In This Podcast
- Why you need to have an estate plan
- Don’t let analysis paralysis get you
- How to find a living trust attorney
- The five pitfalls you can avoid
Why you need to have an estate plan
You have to have a plan of what will happen to your home, your belongings, and your family in case there is an emergency.
A life insurance policy can’t substitute for an estate plan, so it is good to invest in both.
You’re going to save a lot of that loss and that headache that you have to go through with court if you make an estate plan. (Greg Ashcraft)
If you create a trust within your estate plan, it can be the beneficiary of those policies, and then the court doesn’t have to distribute your money because you have already appointed somebody to be in charge of your finances.
Don’t let analysis paralysis get you
It can feel daunting but don’t get stuck.
A good plan in place is better than the perfect plan you never put in place. (Greg Ashcraft)
Do the best you can with what you have got, even if not everything is already sorted. Start with what you have, do the best you can, and make something work, however small it may be.
How to find a living trust attorney
- If you have worked with an attorney in the past, a good place to start is to ask them for a referral to find a great living trust attorney
- Don’t set up trusts with attorneys that have not specialized in it
You want to find somebody who’s not dabbling in all areas of the law. (Greg Ashcraft)
- Find someone with good experience experienced but who is also young enough to move through life with you
- Pick someone who can explain things to you in a way that you understand
If the lawyer can’t say it in a way that you can understand it then they might not understand it themselves. (Greg Ashcraft)
The five pitfalls you can avoid
1 – A will is not the be-all-end-all
2 – Life insurance is not the be-all-end-all
3 – Direct where you want your property or money to go
4 – Be mindful of tax issues
5 – Build flexibility into your plan
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Meet Veronica Cisneros
I’m a licensed therapist and women walk into my office every day stressed and disconnected. As a mom of three daughters, I want my girls to know who they are and feel confident about their future. I can’t think of a better way to help other women than by demonstrating an empowered and unapologetic life.
So I started Empowered and Unapologetic to be a safe space for women to be vulnerable and change their lives for the better before she ever needs to see a therapist.
Thanks for listening!
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