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Establishing a Will & Overcoming Your Roadblocks

Establishing a Will & Overcoming Your Roadblocks - Stephanie Prestridge
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In this episode, host Rachel Stewart, financial advisor, welcomes her guest Stephanie Prestridge, an attorney at Lineage Law in Baton Rouge, Louisiana to discuss why we all should establish a will. Stephanie shares what new clients can expect, and why you should start sooner than later.

Show Notes:

 

0:14 - Why do wills get put on the back burner by clients

 

0:44 - Stephanie’s clients are between their mid-20s through their mid-40s

 

2:20 - What is the purpose of a powers of attorney

 

3:10 - What happens if someone passes away without a will

3:44 - How does forced heirship work

4:49 - Is it difficult to establish a will if you are uneducated about it

5:40 - How long does the process of setting up a will take

7:20 - What is the value clients have seen with Stephanie’s fee structure

8:31 - Talking about a will doesn’t mean that death is going to happen

 

3 Key Points:

  1. Powers of Attorney are documents that would take effect while you’re alive and would provide for someone else to step in your shoes.

  2. If you don’t write a will, the state of Louisiana will write one for you.

  3. Lineage Law uses flat fees instead of billable hours.

Quotes:

“When someone turns 18, take that now-adult child...and have their powers of attorney done.”  – Stephanie

 

“You need to account for what happens if you live, just as much as you need to account for what happens when you die.” – Stephanie

 

“A trust is “a cup.”  – Stephanie