Speech to Text for Edward Jones: Estate Planning
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would close jobs and saudi arabia would cancel a $26 billion order. joined by gabe rockers from edwards jones with our financial advice of the day. talking really long-term planning. >> wanted to touch on the questions that people have concerning estate plans. >> kind of a hard one. >> folks don't like talking about that kind of stuff when they're not around anymore. estate planning brings a c1 connotation of planning after your gone. and in some instances it brings a connotation i need to plan if i'm wealthy. every person that has some assets could really pop the hood on their plan and make sure they have the right things in place to avoid. >> what happens if folks don't have a plan? >> if they don't have a plan when they pass away, their asset information will become public knowledge via probate and it's a very timely circumstance. takes a long time to settle and usually gets expensive. >> if someone is figuring, it will go to my kids and don't have a plan in place, it will go to the system. >> without the right beneficiaries on each asset. it can go to probate. >> what is the best way to do estate planning? >> first and foremost, think about your family dynamic. in the event you're gone, who do i want to leave my wealth or belongings to and sit down with someone to give you guidance. i'm a financial advisor, i'm not a cpa and will not provide attorney or legal advice or tax advice. >> i was going to say, it takes a tax person to try to avoid, giving as much away as sometimes -- >> as we have mentioned in past topics, i want to be the quarterback you about there's things i can't provide so i lead you to other team members like an attorney or cp a. the goal is to keep it out of the courts. <<more clouds to c1 efficiently transfer my wealth to the next of kin or to the charitable organization i am interested in leaving wealth to. >> when you're not around, there's not much to say. >> yes and no. you're exactly right. once you're gone, you don't have a voice, but if you plan appropriately, there's certain trust instruments that can give you that voice from the grave. >> unless you're watching a comedy where let's play the tape of the guy who is gone now and said who he's giving it to. >> how can folks reach you? >> i'm on the south best near tractor supply. you can pop in and we would be blad to understand what is important to you. >> estate planning not always the most fun