{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"The Value of a Financial Advisor: Leaving a Legacy, Life Transitions, and Caring for Others","description":"This episode of The Confident Wealth Podcast with Bill Bush and Pete Bush is the 9th installment in their series, The Value of Working with an Advisor. During this installment, Bill and Pete talk about the problems associated with not having a will, the value of having an advisor to walk clients through the process of estate planning, organizing and maximizing value, getting help with gift money to causes, how to handle life transitions, and how to prepare for taking care of your parents or other family members in the future.   Episode Highlights:   01:26 \u2013 Bill Bush and Pete Bush introduce the topic of leaving a legacy, life              transitions, and caring for others. 02:18 \u2013 Everyone can use some coaching. 03:20 \u2013 Most people don\u2019t have a will. 04:17 \u2013 What is the harsh reality of not having a will? 06:43 \u2013 What is the value of having an advisor when leaving a legacy? 08:07 \u2013 There is a moment in time when it is too late to designate a power of              attorney. 09:32 \u2013 Organization and maximizing value is important. 10:42 \u2013 Special needs situations can arise. 12:15 \u2013 Gifting is also leaving a legacy. 12:49 \u2013 Life transitions and taking care of others are emotional situations and can              lead to emotional decisions.  17:30 \u2013 As we age, health and abilities can decline and require help with financial              planning. 18:47 \u2013 What is a good way to bring up financial planning with your parents to              make sure they are taken care of in the future. 20:23 \u2013 A little bit of prevention is better than a lot of a cure. . 3 Key Points: People falsely assume that estate planning is only for rich people. Advisors can break down the complexity of estate planning into doable action steps for their clients. Death, divorce, kids moving out of your house, and inheritances are often unexpected situations that require financial planning.   Tweetable Quotes: \u201cMost people, some 70%, do not have a will.\u201d \u2013 Bill Bush. \u201cPowers of attorney do end when you die. That is when your will kicks in. But at the same time, you are planning against these contingencies that just say, \u2018you know, that is a good safety net to have.\u201d \u2013 Pete Bush. \u201cFor a current income tax-type planning, which has really bubbled up with these new tax law changes, is you can set up a donor advice fund. Even though you may not know who or when you want to gift it yet.\u201d \u2013 Pete Bush.     Resources Mentioned: Horizon Financial Group The Confident Wealth Podcast ","author_name":"The Confident Wealth Podcast","author_url":"http:\/\/confidentwealth.libsyn.com\/website","html":"