Episode #18 - The Estate Planning Necessities for Young Adults

Ever wonder if you need a last will and testament (aka “a will”)? The answer is YES!

A will is an integral part of a well-rounded estate plan that every adult needs, not just the rich and famous.

"If you have kids under the age of 18, the guardianship in your will is 100% the most important part of your estate plan." - Jamie Weese of Weese Law Firm

In episode 18, we’re talking about the estate planning necessities for young adults.

Kyle hops on the mic with estate planning attorneys, Jessica Kimbrell of Kimbrell Estate Planning and Jamie Weese of Weese Law Firm. They discuss what is:

a last will and testament
a durable power of attorney
a healthcare power of attorney
an advanced healthcare directive (or a living will)
trusts

and how all of these are a part of a well-rounded, and well-planned Estate Plan. Every young adult needs an estate plan, especially if you have minor children or special needs children (which we touch on in the podcast).

“Advance Healthcare Directive and Living Will mean the same thing. How I describe this document is the ’Pull the Plug’ document” - Jessica Kimbrell of Kimbrell Estate Planning

Before they dive into everything estate planning for young adults, they discuss their favorite movies surrounding estate planning, their favorite Halloween candy - which no surprise Kyle’s is money related - and their favorite estate planning cases… and Kyle doesn’t like where Jessica’s is going.

Don’t wait, check it out now so you’re prepared for when life happens. As Forrest Gump’s momma says, “Life is like a box of chocolates, you never know what you’re gonna get.”

To skip the fluff, go to the 50:28 mark. However, it's not advised!

Resources:

Law Abiding Citizen (2009)

PFFTHT Episode # 17 - "What should you do with that old 401k"

Parks and Rec - Ron Swanson makes a Will

Knives Out (2019)

The Last Blockbuster

Little Big League (1994)

PFFTHT Episode # 12 - What the hell is a CERTIFIED FINANCIAL PLANNER™ (CFP®)?"

Howard Hughes Estate Planning Debacle,

The Complete Guide to Wills, Estates & Trusts (Book)

The Nobel Peace Prize started via a will