What happens to all the wealth you have built once you pass away?
I want you to ask yourself:
How do I want my wealth distributed when I die and what is the likelihood of that actually happening?
Do I want my family to get the wealth when I die or do I want to make a bunch of lawyers rich?
Do I want my kids to ‘fall out' over my estate?
Do I want the government to get a big chunk of my estate in taxes?
And if you are in business or in the business of farming:
Will the business be able to keep going when I die?
These questions have just scratched the surface, but you get my point - estate planning is vitally important if you want to keep your hard-earned wealth, in your family.
The guest in this episode is Estate Planning Lawyer Tim Rivett. Tim and I discuss what actually is estate planning, why just having just a will isn’t enough, the common mistakes he sees as an estate planning specialist, and the things you can do to start sorting your estate planning out.
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