Shownotes
Can Estate Planning be simplified? With Wealth.com’s innovative tools, like the AI extractor tool and visualizations, the answer is yes.
Join Jeb, Ethan, and Eric on the Metcalf Money Moment podcast as they host Eva Deniz to explore how estate planning transforms with Wealth.com. Learn how financial advisors can streamline the creation of revocable trusts, wills, and other estate planning documents, making the process more intuitive and cost-effective. Learn to navigate emotional hurdles and ensure your plan mirrors your expectations.
What you will Learn in this Episode:
How Wealth.com enhances Estate Planning for advisors and clients.
Benefits of the AI extractor tool for updating existing plans.
Role of the attorney network in supporting deed services.
Using the pre-meeting worksheet to ease client account setup.
Tune into the Metcalf Money Moment podcast for expert insights on wealth management and retirement planning! Join Jeb, Ethan, and Eric for practical Estate Planning strategies to unlock financial clarity and confidence. Listen now to inspire your financial journey!
TIMESTAMPS:
00:00 Estate Planning can be emotional. A pre-meeting worksheet and estate planning checklist give clients time to plan.
06:38 Eva highlights the AI extractor tool for visualizing and updating outdated revocable trusts, wills, and medical directives.
13:00 The intuitive document wizard eliminates legalese, and the attorney network offers a pre-negotiated rate.
16:45 Discussion of consultation rate for clarifying complex wills and trusts, highlighting Wealth.com’s value in simplifying legal jargon.
19:15 Metcalf is partnering with Wealth.com, emphasizing faster Estate Planning processes for clients using the client account and document wizard.
KEY TAKEAWAYS:
Wealth.com simplifies Estate Planning with tools like the document wizard and visualizations for advisors and clients
AI extractor tool visualizes and updates existing wills or trusts in minutes, ensuring relevance
Pre-meeting worksheet and estate planning checklist ease emotional barriers in client account setup
Attorney network offers consultations for $240 and deed services to finalize revocable trusts
ABOUT THE GUEST:
Eva Deniz leads advisory sales in the Central Region at Wealth.com, helping advisors, firms, and family offices initiate dynamic estate planning conversations. She empowers advisors to leverage it for growth while addressing industry challenges. Before joining 2.5 years ago, she spent 8 years at Lululemon, leading EMEA ecommerce operations and guest experience. Outside of work, she travels with her children (ages 10 and 14), plays golf, and enjoys spending time at the lake.
DISCLAIMER:
This information is not intended to be a substitute for specific individualized tax or legal advice. We suggest that you discuss your specific situation with a qualified tax or legal advisor.
Transcripts
Do I have any specific gifts? That's where applying can kind of stall out because boom, they're drafting in the document wizard and then all of a sudden they're overwhelmed and they don't wanna think about this. And again, death, nobody wants to think about it. So we see a best practice as far [00:00:30] as advisors leveraging deliverables that we give you, like a pre-meeting worksheet, an estate planning checklist, to really get the client's mind thinking, okay, who are the right people to play these roles?[00:00:45]
e offers decades of combined [:Now your host.[00:01:15]
Jeb Graham: Welcome to Metcalf Money Moment podcast. My name is Jeb Graham here with Ethan Hutchinson and Eric Wey Mower, who are partners and co-hosts. And we have a special guest, Eva Denise, on today. And I did say that, right? Right. E.
Eva Deniz: You sure did. [:Jeb Graham: Well, thank you for being on. So, um, Eva is with wealth.com, uh, and I'm gonna have her explain exactly what wealth.com is and how it works here in a second.
Um, but we, as, as Medcalf [:And with that maybe you can kind of explain exactly what wealth.com is and how our clients can start to use it.
you for having me. Um, I am [:So, um, giving advisors away to not only facilitate the estate planning conversation, but getting a client from [00:02:30] point A to point B. I think sometimes we really delay the estate planning piece. There's a little bit of a stigma as far as, oh, I have to accumulate enough wealth to really warrant going to go meet with an attorney.
te plan is truly the bookend [:[00:03:15] How does it work? What is a poor over will? What does my agent of my medical directive mean? And really bring estate planning into tangible terms that you can understand it, and then under really understand the legacy that you're putting in place for your life. [00:03:30]
Jeb Graham: Awesome. Well, very good. So. With wealth.com.
ts to go get an estate plan, [:It's multiple meetings, it's expensive. Um, so maybe we can talk a little bit about the differentiation of going to an attorney for an estate [00:04:00] plan and then using wealth.com and, and why that's easier, I guess.
Eva Deniz: Yeah. Yeah, I think sometimes, you know when you're going to go meet with that attorney, it might be a newer relationship.
So that's kind of, you know, [:And then if you think about it too, estate planning is very emotional. Nobody [00:04:30] wants to think about death. Nobody wants to think about who, you know, the guardian for their kids is going to be. And so there's a big deterrent there. And then also, you know, most of us feel like, oh, death is so far off. Like we don't have to worry about this.
Um, you know, right now. [:Um, or you have the ability to get an estate plan in place, you know, at home, in the office, um, from your personal computer. It takes about 40 minutes to get a trust in place, about 30 [00:05:15] minutes to draft a will, and then about five to six minutes to get a medical directive in, in place there, and then again paired with the visualizations.
e's my life, my family, the. [:Um, and then Jeb, I, I didn't mention earlier, but the other advantage with wealth.com is the nature of wealth.com gives you the ability to not only get state specific customized [00:06:00] documents in place. But then also offers unlimited updates and restatements as well. So now you have that advantage with your advisor, uh, to truly ensure that year over year your estate plan mirrors your life.
ng that would cost thousands [:They trust you. Um, so yeah,
or a trust that's drafted in:How does all that kind of work?
remember, I said in the very [:And so we wanna give you all the tools within our [00:07:15] ecosystem to really meet your clients where they're at, across the continuum of estate planning. And so, yes, you do have a large segment of your book of business that already has existing estate documents in place. And I always like to go back to, um, the latest celebrity death that made a big splash in the media this [00:07:30] year was Jean Hackman.
were all dead. And so it has [:His assets are tied up and it begs the question, whose responsibility was that to really ensure that his estate plan truly mirrored his life? Was it his attorney's? Well then he would've, you know, he would [00:08:00] need to have an attorney on a retainer. But on the flip side, was it his financial advisor? What was that financial advisor supposed to do?
given you@wealth.com is our [:But our extractor tool allows your advisor, so the advisor to upload an existing estate plan, whether it [00:08:30] be something basic like a will or something nuanced like anit, a slat, agra, and then within a matter of two to three minutes, it's going to build a beautiful visualization that then the advisor can move into the conversation with that client as far as demystifying this existing estate [00:08:45] structure moving into optimization conversation.
like that. I always like to [:And that's it. Um, and so it's really valuable for you to be able to just simply demystify that existing estate plan. Make sure that, you know, [00:09:15] the client understands the roles and the responsibilities of these people playing success or trustee, if that individual is really up for that role, if they understand that.
is something that you could [:Eric Wymore: I used Esther actually from my personal one and sent it in there and realized there's a couple of updates that I wanted to make, um, from, from, you know, 12 years ago when we actually got our stuff put in place. It spits it out in a nice graph and a nice, you know, one [00:10:00] page. Document that I can take a look at and realize, oh, this is, this is what's gonna happen if I passed away.
And so,
in my mind, um, that's gonna [:And so historically, attorneys would build so many different contingencies into a document, knowing this client's probably never going to update this again. So we have to have contingency after contingency, and then that makes the trust or the will very convoluted. Nobody [00:10:45] knows what's in it at all. And so, Eric, to your point, I mean.
-year-old could tell [:And so we're not, you know, asking you to play the role of an attorney. Just use those visualizations to [00:11:15] really kind of talk through things. Does this make sense? This still the right person to be the guardian for your kids. They understand these roles. Huge value. Especially because clients aren't expecting that from an attorney unless they're paying for it.
t? Well, so, so if we have a [:Themselves, but then they get to the point where they actually wanna talk to an attorney or they feel like they should talk to an attorney. Is there a solution for that inside of it as well?
So I think sometimes we see. [:But we've had no conversation around, um, any kind of, you know, estate planning piece. I haven't thought about who in the world. Are gonna be these decision makers, do I have any specific gifts? That's where applying can kind of stall out [00:12:30] because boom, they're drafting in the document wizard and then all of a sudden they're overwhelmed and they don't wanna think about this.
n estate planning checklist, [:And then that makes it a very intuitive experience once the client [00:13:00] begins the drafting experience, that pre-meeting worksheet. Really details out a lot of questions that they're gonna see in the document wizard. So it's familiar. It's less, you know, Ugh, I don't wanna do this. Mm-hmm. Um, and then Jeb, your follow up question was, uh, if [00:13:15] they, if the client does ever have that legal, um, want that legal direction?
tried to remove a lot of the [:So if a client ever does wanna meet with an attorney, maybe just to review the document before they sign, maybe they do have, you know, [00:13:45] some specific legal questions. Um, they can meet with counsel in their state. So. Um, we have counsel in all 50 states, including DC. Now, these attorneys are not employees of wealth, but they're contracted and vetted to and e attorneys that have been [00:14:00] practicing for a minimum of 15 years, and they've gone through a rigorous vetting process to be a part of our network.
inute consultation. But then [:Um, you have it done by an attorney, it's done correctly. Um. So, [00:14:30] yeah,
e and we use here, and we'll [:And I think, you know, if you think about this, if you've got. Pay $2,000 for your trust and [00:15:00] you need an hour of legal counsel during it, you're still at about half of the cost. You know Exactly. Going to an attorney at that point in time, so,
mparison is because what you [:To your clients is not only getting documents in place. So I live here in Dallas, so if I were to meet with an attorney to draft a revocable trust here in Dallas, it would cost me around $3,500.
Voiceover: Mm-hmm. Now, if I were
the smart thing to do would [:It would cost me around $1,500 to do that small change. If I were to move from Texas to Arizona, for example, the smart thing to do would be restate that trust under the now [00:15:45] Arizona State laws. And that would cost me anywhere from 23 to $2,700. Mm-hmm. So, already working with an attorney to really have my document to mirror my life, be optimized to my life.
on the flip side, you as my [:And I say that jokingly, but that's what people are really, you know, it's that ums. That freeze, kind of like, oh no, like I'm making this decision and I'm married to it forever. And it's like, no. Um, and then plus, with the visualizations that you're [00:16:30] providing me, it's this, you know, huge value. And it's, it's really hard to compare it to what the, uh, the market rate would be with the attorney because you're providing so much more than an attorney ever.
Would
Jeb Graham: either one of you guys have any other questions?
Ethan Hutcheson: [:I got a couple questions on some of this language in there. It's, it's extremely beneficial and valuable. So that's some great, great, great add on.
tion rate. I mean, you don't [:Um, and it's, it's great too. I mean, we've, there's layers and layers of resources. We really, really pride ourselves here@wealth.com on the people behind the product, [00:17:30] the layers of resources that we give to not only advisors, but then clients. We have a wealth member care team. I like to refer to this team as our SEC secret sauce.
hey're well versed in estate [:We see the network leverage for deed services. Uh. For the most part.
Disclaimer: Mm-hmm. Um, but
'll oftentimes hop on a Zoom [:And so that's great too. But then if that client does wanna move forward and meet with counsel, they can do so. And it's a very seamless, um. Experience [00:18:30] and process you get there. So,
Jeb Graham: so if they were gonna deed their house to their trust, uh, can they do that within a half, half hour consultation? I would assume
Eva Deniz: so.
s the consultation, which is [:So it varies state over state. [00:19:00] Since I'm in Texas, I know it off the top of my head, it's $350. That includes the notary fee, includes the recording fee. Counsel will file it with the county, get it back to your client. Um, and so that would be separate there.
od. Well, we're super pumped [:So. We're excited to get this podcast produced and out so that we can start having these [00:19:30] conversations, uh, and, and hopefully saving some people money on estate planning and, and more, more than that, just making sure that all of our clients have an estate plan. I feel like that's a big, uh, you know, when you meet a client, it seems like the whole process can take.[00:19:45]
te that process. And because [:Uh, but it, it seems to not be the first thing we talk about a lot of times, and that's just kind of the progression of the relationship. So, um, but yeah, we're super [00:20:15] excited about it and we're really appreciate either you coming on to the podcast to talk about this and, and bring the information to our client base.
So.
ou guys, the success and the [:Jeb Graham: Awesome. Well, we're excited. So thank you very much. This is Metcalf Money Moment podcast. Sign it off.
nks for tuning in to Metcalf [:Disclaimer: Jeb Graham, Ethan Hutchinson and Eric Wymore are registered representatives with and securities offered through LPL Financial Member FINRA SI PC Investment advice offered through WCG Wealth Advisors, a registered [00:21:15] investment advisor, WCG Wealth Advisors and Metcalf Partners. Wealth Management is AR separate entity entities from LPL Financial.
qualified professional prior [:All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly.