532: Building Generational Wealth? Don’t Lose It with This ONE Critical Mistake

You’re working hard to build wealth, but without estate planning, your assets could easily land in the wrong hands, causing your family a great deal of trouble. No one likes thinking about their death, but you NEED to tackle this issue head-on if you hope to preserve your legacy!
Welcome back to the BiggerPockets Money podcast! Today, we’re tackling two of the most taboo topics—death and money—with estate and elder attorney Jenny Rozelle. If you’re nearly ready to retire, you MUST develop an estate plan. Otherwise, intestate succession laws will determine your fortune’s fate. Even if you’re young and have little to your name, there are basic steps you can take today to ensure that your current and future assets don’t go to the wrong person.
In this episode, you’ll learn how to find the BEST estate planning attorney and prepare for your first meeting. Jenny also shares the truth behind probate and why it isn’t nearly as painful as it sounds!
Stick around for part two, where we rapid-fire estate planning questions at Jenny as she shares information even we didn't know about!

In This Episode We Cover
Basic estate planning documents every person needs (regardless of age)
What really happens in probate court (and why it’s NOT as scary as it sounds)
Intestacy explained, and how to stop your assets from landing in the wrong hands
How to make sorting out your estate as easy as possible for your loved ones
And So Much More!

Links from the Show
BiggerPockets Money Facebook Group
Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums
Finance Review Guest Onboarding
Join BiggerPockets for FREE
Mindy on BiggerPockets
Scott on BiggePockets
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Find an Investor-Friendly Agent in Your Area
Find Investor-Friendly Lenders
Property Manager Finder
BiggerPockets Money 397 - Estate Planning, Wills, and What to Do NOW to Protect Your Heirs
BiggerPockets Money 401 - The Post-Passing Plan: 3 Steps to Protect Your Family’s Financial Future
BiggerPockets Money 503 - How to Keep MORE of Your Inheritance From the IRS (Avoid These Tax Mistakes!)

00:00 Intro
01:27 Why You NEED an Estate Plan
07:52 Finding an Attorney & Probate 101
18:10 First Steps for Early Retirees
24:56 Getting Organized & Estate Planning Costs
37:00 Connect with Jenny!
37:29 Start Planning Today!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-532

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]
Learn more about your ad choices. Visit megaphone.fm/adchoices

You’re working hard to build wealth, but without estate planning, your assets could easily land in the wrong hands, causing your family a great deal of trouble. No one likes thinking about their death, but you NEED to tackle this issue head-on if you hope to preserve your legacy!

Welcome back to the BiggerPockets Money podcast! Today, we’re tackling two of the most taboo topics—death and money—with estate and elder attorney Jenny Rozelle. If you’re nearly ready to retire, you MUST develop an estate plan. Otherwise, intestate succession laws will determine your fortune’s fate. Even if you’re young and have little to your name, there are basic steps you can take today to ensure that your current and future assets don’t go to the wrong person.

In this episode, you’ll learn how to find the BEST estate planning attorney and prepare for your first meeting. Jenny also shares the truth behind probate and why it isn’t nearly as painful as it sounds!

Stick around for part two, where we rapid-fire estate planning questions at Jenny as she shares information even we didn't know about!

In This Episode We Cover

Basic estate planning documents every person needs (regardless of age)

What really happens in probate court (and why it’s NOT as scary as it sounds)

Intestacy explained, and how to stop your assets from landing in the wrong hands

How to make sorting out your estate as easy as possible for your loved ones

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

Network with Other Investors on The Path to FIRE Through the BiggerPockets Forums

Finance Review Guest Onboarding

Join BiggerPockets for FREE

Mindy on BiggerPockets

Scott on BiggePockets

Listen to All Your Favorite BiggerPockets Podcasts in One Place

Apply to Be a Guest on The Money Show

Podcast Talent Search!

Find an Investor-Friendly Agent in Your Area

Find Investor-Friendly Lenders

Property Manager Finder

BiggerPockets Money 397 - Estate Planning, Wills, and What to Do NOW to Protect Your Heirs

BiggerPockets Money 401 - The Post-Passing Plan: 3 Steps to Protect Your Family’s Financial Future

BiggerPockets Money 503 - How to Keep MORE of Your Inheritance From the IRS (Avoid These Tax Mistakes!)

00:00 Intro

01:27 Why You NEED an Estate Plan

07:52 Finding an Attorney & Probate 101

18:10 First Steps for Early Retirees

24:56 Getting Organized & Estate Planning Costs

37:00 Connect with Jenny!

37:29 Start Planning Today!

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/money-532

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]

Learn more about your ad choices. Visit megaphone.fm/adchoices