July 31, 2020 • 16 mins
Quote: Estate planning is not just for when you die, having a proper estate plan means that you’re going to be able to keep control over yourself and your person in the event that you’re incapacitated or that you die.
In this episode of GET READY!, I spoke with Chris Hall, the founder of Estate Plan Navigator about the importance of having an estate plan. Chris shared about the benefits of an estate plan and why it’s important to periodically review your estate plan. We also discussed the importance of reviewing the beneficiaries on your life insurance policies and retirement plans.
Bio: Chris Hall, Founder of Estate Plan Navigator. Chris is a former top producing insurance agent and financial advisor with Great Northern Financial. Currently on a mission to flip the numbers from 70% of adults in need of proper estate planning documents to 70% or more who have them in place. And, when time permits a true golf addict.
Connect with Chris Hall:
LinkedIn: https://www.linkedin.com/in/chrisepnavigator/
EPNavigator home page: www.epnavigator.com
The Get Ready Money Podcast and its guests do not provide investment advice. All content is for educational purposes. Guest opinions do not necessarily reflect the opinions of The Get Ready Money Podcast and Tony Steuer.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:13):
Welcome to the get ready with Tony Stewart podcast.
I'm pleased to be joined againtoday by Chris hall from IUPY
navigator.
Chris, thank you for joining me.
How are you today?
I'm doing
Speaker 2 (00:24):
Great.
Tony, how are you?
I'm doing
Speaker 1 (00:26):
Great.
Thank you really excited to haveyou back.
I'm glad to be here.
Fantastic.
So today, Chris and I will betalking about the get ready
financial calendar action item,or for viewing your
beneficiaries and estate plan.
Chris is a perfect person totalk about this.
Chris hall is the founder ofstate plan navigator.
(00:48):
Uh, Chris is a former topproducing insurance agent and
financial advisor with greatmore than financial.
Chris is currently on a missionto flip the numbers from 70% of
adults in need of proper estateplanning documents to 70% or
more who have them in place.
And when time permits, uh,playing golf, Chris, are you
(01:09):
able to get out and play me golfright now?
Speaker 2 (01:12):
Uh, we've got to do challenges right now.
We're three COVID is really hotin Florida and not much time
when you're running a business,but, uh, when I can, yes, I do.
I still enjoy it.
Speaker 1 (01:24):
Fantastic.
Um, so do you want to tell us alittle bit about what you do?
Speaker 2 (01:28):
Sure.
Um, so with the state plannavigator came to be really
cause, you know, as a formeradvisor and for as long as I can
remember, you know, advisorsalways have a challenge and uh,
helping their clients get estateplanning done.
Um, and there's all kinds ofhurdles, whether it's the cost,
(01:49):
uh, the myths that sort of holdpeople up from getting it done,
um, CA you know, complexity,whatever it might be.
Um, there's, there's been thischallenge around the state
planning.
And so at a state plan navigator, uh, we've we provide advisors
and FinTech solutions with aturnkey estate planning
solution.
(02:10):
It empowers them to take controlof the estate planning process.
Uh, the platform is paired upwith a nationwide network of
attorneys, and it's going toallow the advisor to complete a
customer state plan with theirclient or prospect in real time.
And they can do all that andstill be compliant and stay away
(02:30):
from the unauthorized practiceof law issues because of the way
we work with our attorneys.
Speaker 1 (02:36):
Oh, fantastic.
Yeah.
It's such a great program.
I didn't care to anybodylistening to check it out,
especially if you're an advisor.
Um, so Chris, what are the mainbenefits of having an estate
plan?
Speaker 2 (02:50):
Yeah, that's a, it's a, it's actually, it sounds like
such a simple question, butreally, uh, one of the things
that people need to be aware,it's a state planning is not
just for when you die.
Um, having a proper estate planmeans you're going to be able to
maintain control over yourself,your person and your estate in
the event, you're incapacitated,or you die.
(03:13):
Um, you're going to be able toensure that your wishes are
accurately carried out and yourassets go to the beneficiaries.
You want to have those assets.
Um, one of the things that wwhen I bring up the whole idea
of it's not for just when youdie, there's this thing called
living probate.
And a lot of people don'trealize that that's why you need
(03:36):
a power of attorney forfinancial decisions or
healthcare decisions.
Because if you don't put someonein charge of making those
decisions for you, then yourfamily's going to be likely find
themselves in court and may, orthe court may or may not appoint
the person you'd like to betaken care of you in that
position.
So you want to go ahead and getthese things in place ahead of
(03:58):
time.
So it's not just for when youdie.
Speaker 1 (04:01):
Yeah.
And I think that's such animportant point, um, is that
people think about estateplanning as, you know, a death
thing.
And it's really so much morethan that.
So that's, that's reallypowerful.
And, and it's good to know thatAP navigator takes that into
account as a major component.
Um, so, you know, here's thenext question?
(04:23):
Why is it important to keep yourestate planning up-to-date as
your life changes?
Speaker 2 (04:29):
Well, we're all particularly aware right now in,
in the world that you never knowwhat's around the corner with
this whole COVID 19 thing, butanything, I mean, you're driving
down the road, uh, whether it'sthe Bay area or here in the
Tampa Bay area, uh, we don'tlike to look at it, but you're,
you S you see horrible accidentsall the time, but what I'm
(04:50):
getting at is we don't knowwhat's around the corner for us.
So, uh, it's really important tokeep your plan up to date, uh,
as much as we'd like to thinkwe're in control or not.
Um, and so you just, if you'renot up to date, you're going to
leave a much larger challenge,uh, behind for your family
(05:12):
again.
And that's the whole point is wedon't want to leave a mess for
anybody.
And it's really simple to getthe, keep it in order.
Speaker 1 (05:19):
Fantastic.
Yeah.
Great points, things change, andthere's a reason why they're
called accidents.
If we could plan on them, youknow, that would make things a
lot different.
Definitely.
So, you know, with that in mind,how often do you suggest people
review an estate plan?
Speaker 2 (05:40):
Yeah, I, you know, I think as an agent, an agent or
an advisor, I'm a former advisoris, you know, Tony.
Um, but I think, uh, it's aconversation you should be
having with your clients at aminimum every year.
Um, and it may be a verydiscussion if you're doing it
every year.
It may be as simple asconfirming that nothing really
(06:03):
has changed, but it tells yourclient or your prospect that you
care that you're looking out forthem.
Um, that said, I think beyondthat kind of annual conversation
, um, laws don't tend to changevery quickly around estate
planning.
So as far as legal changes, not,you can go years without needing
(06:26):
to make any changes due to lawor changes in the law.
Um, but I think it's a good ideato have a deep dive every, maybe
three to five years, uh, and,and make sure everything's there
and doing what you want it todo.
And you, as an insuranceprofessional, Tony, you know, I
mean, you got to review thosebeneficiaries on a regular basis
(06:47):
and know what's going on.
Speaker 1 (06:49):
Definitely.
Well, and that's actually, mynext question is, um, why should
you review the beneficiaries onyour life insurance policies and
retirement plans?
Speaker 2 (06:59):
Well, we, yeah, this is kind of a, you know, it's
very similar to the earlierquestion about, we don't know
what what's around the cornerand what's up, but I think, you
know, life goes fast and, um,you know, you may have put
beneficiaries in place years agothat ND it's a, there's a good
chance.
Something's different now.
(07:19):
So we should be looking at thoseon a regular basis as well.
And you may have some to addthere, Tony, just how you deal
with your clients and peoplearound reviewing, um,
beneficiaries.
But, you know, you got to keep,keep on top of those.
Speaker 1 (07:34):
Yeah.
And, and part of what I'm doingwith the get ready financial
calendar is I'm urging people todo it once a year because, you
know, while every three to fiveyears, you, and I know that
that's a great timeframe is I, Ithink that's partially where as
a financial services industry,we've gotten a little bit off
track is that I think havingpeople do it at the same time
(07:58):
every year makes it a little bitmore ingrained, um, is because,
you know, as an insurance agent,I don't know when my clients
have changes, unless theypractically tell me or I reach
out to them.
So I think that's a great pointis that you have to do it, um,
(08:18):
every so often on a regularbasis.
Yeah.
So as we're talking about that,what are some of the issues that
people should look for whenthey're reviewing their estate
plans in beneficiarydesignations?
Yeah.
Speaker 2 (08:32):
Yeah.
That's a great question.
Because a lot of people, don't,you come sit down with the
advisor, whoever it might be,and, and you say nothing's
changed, but that's because youdon't know what you're looking
for.
So great point, um, you know,right out the gate, first thing
I would say is to have a look atyour powers of attorney, uh,
point your, uh, this washappened in my family.
(08:55):
We are, there's five kids and westarted to spread out around the
country.
And so my mother's power ofattorney had, uh, me as the
agent for her health care and mysister second, well, we both
moved thousands of miles away.
So, uh, that probably isn't thebest person.
(09:15):
So absolutely look at yourpowers of attorney, make sure
that the people you want incharge of your finances or your
healthcare decisions are indeedthe ones that are not only ready
and willing, but they're, uh,geographically close enough to
actually do it and can do it.
Um, and then certainly there's alot of other life, major life
(09:35):
events, like a new marriage ordivorce on the other side.
Um, did you name guardians forminor children and now, um,
yeah, you've had a falling outwith that former great friend or
whatever it might be, checkguardianship issues, um, hard,
their new children.
Did you have, did you havechildren or grand babies or
(09:57):
things like that?
Obviously.
Bennett, do you want to change abeneficiary?
It would be a big one.
Um, are you a blended family?
Have you become a blendedfamily?
There's some very specificthings you need to do around
estate planning if you're ablended family.
Um, last couple of things.
I, I, I jotted down a couple ofnotes cause I'd had a feeling
(10:19):
that question was coming Tony,but what if a beneficiary
pre-deceased you?
Yeah, that's a great one.
Yeah.
I mean, it doesn't happen often.
I hope it doesn't happen to you,the parents out there, but, uh,
it does.
So what we want to address thatand last, and this actually is
the number one trigger of alittle bit more complex estate
(10:40):
for us is if there's a specialneed someone who's a beneficiary
receiving state or federal aidfor a disability, we want to do
make sure we do the right thingthere so that we don't
jeopardize that aid.
That's going to thatbeneficiary.
We want to make sure that wedon't put them in a position
where they lose that, that help,that they're getting.
(11:00):
So those are probably thebiggies that people want to pay
attention to when they'rereviewing their estate plans.
And that's one of the things wedo with our people is we try and
stay on top of that.
Speaker 1 (11:12):
Well, great.
[inaudible] that's my nextquestion.
We're we're, we're doing greathere.
We're leading from one questionright to the next is, um, how,
how does EAP navigator help keepan estate plan up to date?
How do you help your clients dothese things?
Speaker 2 (11:26):
Yeah, I, um, a couple of different ways, Tony, um,
obviously we have a network ofattorneys throughout the country
and that we have attorneys ineach state and part of their job
is to make sure we're on top oflegal changes in that state.
Um, and so from a, from thestandpoint of the language
(11:47):
that's in the customer or theclient's document, we watched
that on and we will update on aregular basis.
A good example of that is, um,the secure act, this went into
effect this January, somechanges around, uh, how we treat
qualified accounts.
Um, and so we were right on topof that.
(12:08):
We made the adjustments and thenwe, if, if anybody needed to
have their plan updated, we takecare of that for them.
The other thing we do is we sendout an annual checklist or
reminder for the clients and docertain things, uh, so that, uh,
it kind of helps them stay ontop of these things and keep
their, um, keep their estateplan up to date.
Speaker 1 (12:32):
Fantastic.
I think that's an importantpoint is so often, and
especially, you know, you know,this coming from the insurance
businesses, people do thesethings and then they think
they're done with them, right?
When, so many of these thingsare living documents are living
surfaces.
That's great to hear you guysare doing that.
Speaker 2 (12:51):
Yeah.
And if I could add one morething to that as they are
living, but I've found over theyears and spend more than I want
to say now that you know, 20plus years, um, there's a big
myth out there that once theyput their estate plan in place
that it's going to be expensiveor complicated or both to, to
(13:12):
keep it up to date, it reallyisn't.
And as you know, Tony with ourplatform, uh, it's, it's very
simple to keep up to date makingchanges as simple it's
inexpensive amendments currentlyconstitute 150 bucks.
So, uh, there's the idea thatonce you have your plan in
place, it's going to somehow tieyour hands and make life
(13:33):
day-to-day life more complex.
I want to make sure peopleunderstand that's not the case.
Once it's in place, life goes onas normal and maintenance is
actually pretty darn easy.
Speaker 1 (13:44):
Well, that's great.
That's great.
So, um, Chris, what, what's yournumber one tip on being
financially prepared?
Speaker 2 (13:51):
Yeah.
You, you did share that questionwith me early and I knew it was
a covenant, you know, I'm justgoing to go with the very first
thought I had on that.
Uh, and it it's, it's past it.
Maybe it's a little bit, uh,what do you call it when I'm not
driving?
I don't want to make it aboutme, but, or me by far is save
(14:11):
your money because I washorrible saver as a, as a young
person.
Uh, I think I've gotten much,much better at it, but boy, once
you can create that habit, itmakes a huge difference.
And the S and in addition tothat, you people really need to
take advantages of service andthe knowledge of others, like
(14:33):
your get ready program and takeadvantage of those, put those in
place.
Because like you said earlier isyour program is going to have
people doing this on a regularbasis and keeping their
financial house in order on aregular basis.
And that's going to give peoplea real peace of knowing that
that's all in place and itcreates the habit and that's all
(14:55):
of them.
So yeah,
Speaker 1 (14:57):
No, that, that's a great tip.
And I think that's where it allstarts, because if you're not
saving anything, you're notgoing to have anything to really
do estate planning about orinsurance policies or retirement
plan.
So you have to, as withanything, you have to start with
the fundamentals right beforeyou can get to the big stuff.
Speaker 2 (15:16):
Yeah.
I mean, for some people it'sinteresting there, we know we
hear, I watch our families orour own, uh, uh, children grow
up.
Sometimes when you see thepersonality differences, this
one's a saver, this one's aspender.
Well, I was that spender thatyou become a saver, uh, and it,
it, it's not easy, but it reallyit's a, it's a life-changer once
(15:38):
you get there
Speaker 1 (15:40):
A hundred percent, a hundred percent agree.
That's a great tip.
So Chris, where can people learnmore about you and EAP
navigator?
And this will be in the shownotes as well.
Speaker 2 (15:49):
Sure.
No problem.
Uh, pretty simple.
It's just EAP navigator.com.
Um, and if you, um, you can seeus there when you land on that
website.
If you have, if you're afinancial advisor insurance
agent, there's a separate buttonup top to hit that says
advisors, and that'll take youto a whole new section, uh, but
there's lots of great contentthere and you can check us
(16:14):
out@eapnavigator.com and my, ormy profile on LinkedIn.
Speaker 1 (16:18):
Fantastic.
Fantastic, Chris.
Well, thank you so much againfor, uh, joining us again on the
get ready podcast.
Speaker 2 (16:25):
Absolutely great to be with you, Toni as always.
It's always fun.
Speaker 1 (16:31):
Definitely.
Well, have a good day.
All right.
Uh, thank you everybody fortuning into the, get ready with
Tony Stewart podcast.
Uh, please remember to subscribeuntil next time.
Welcome to the get ready with Tony Stewart podcast.
I'm pleased to be joined againtoday by Chris hall from IUPY
navigator.
Chris, thank you for joining me.
How are you today?
I'm doing
Speaker 2 (00:24):
Great.
Tony, how are you?
I'm doing
Speaker 1 (00:26):
Great.
Thank you really excited to haveyou back.
I'm glad to be here.
Fantastic.
So today, Chris and I will betalking about the get ready
financial calendar action item,or for viewing your
beneficiaries and estate plan.
Chris is a perfect person totalk about this.
Chris hall is the founder ofstate plan navigator.
(00:48):
Uh, Chris is a former topproducing insurance agent and
financial advisor with greatmore than financial.
Chris is currently on a missionto flip the numbers from 70% of
adults in need of proper estateplanning documents to 70% or
more who have them in place.
And when time permits, uh,playing golf, Chris, are you
(01:09):
able to get out and play me golfright now?
Speaker 2 (01:12):
Uh, we've got to do challenges right now.
We're three COVID is really hotin Florida and not much time
when you're running a business,but, uh, when I can, yes, I do.
I still enjoy it.
Speaker 1 (01:24):
Fantastic.
Um, so do you want to tell us alittle bit about what you do?
Speaker 2 (01:28):
Sure.
Um, so with the state plannavigator came to be really
cause, you know, as a formeradvisor and for as long as I can
remember, you know, advisorsalways have a challenge and uh,
helping their clients get estateplanning done.
Um, and there's all kinds ofhurdles, whether it's the cost,
(01:49):
uh, the myths that sort of holdpeople up from getting it done,
um, CA you know, complexity,whatever it might be.
Um, there's, there's been thischallenge around the state
planning.
And so at a state plan navigator, uh, we've we provide advisors
and FinTech solutions with aturnkey estate planning
solution.
(02:10):
It empowers them to take controlof the estate planning process.
Uh, the platform is paired upwith a nationwide network of
attorneys, and it's going toallow the advisor to complete a
customer state plan with theirclient or prospect in real time.
And they can do all that andstill be compliant and stay away
(02:30):
from the unauthorized practiceof law issues because of the way
we work with our attorneys.
Speaker 1 (02:36):
Oh, fantastic.
Yeah.
It's such a great program.
I didn't care to anybodylistening to check it out,
especially if you're an advisor.
Um, so Chris, what are the mainbenefits of having an estate
plan?
Speaker 2 (02:50):
Yeah, that's a, it's a, it's actually, it sounds like
such a simple question, butreally, uh, one of the things
that people need to be aware,it's a state planning is not
just for when you die.
Um, having a proper estate planmeans you're going to be able to
maintain control over yourself,your person and your estate in
the event, you're incapacitated,or you die.
(03:13):
Um, you're going to be able toensure that your wishes are
accurately carried out and yourassets go to the beneficiaries.
You want to have those assets.
Um, one of the things that wwhen I bring up the whole idea
of it's not for just when youdie, there's this thing called
living probate.
And a lot of people don'trealize that that's why you need
(03:36):
a power of attorney forfinancial decisions or
healthcare decisions.
Because if you don't put someonein charge of making those
decisions for you, then yourfamily's going to be likely find
themselves in court and may, orthe court may or may not appoint
the person you'd like to betaken care of you in that
position.
So you want to go ahead and getthese things in place ahead of
(03:58):
time.
So it's not just for when youdie.
Speaker 1 (04:01):
Yeah.
And I think that's such animportant point, um, is that
people think about estateplanning as, you know, a death
thing.
And it's really so much morethan that.
So that's, that's reallypowerful.
And, and it's good to know thatAP navigator takes that into
account as a major component.
Um, so, you know, here's thenext question?
(04:23):
Why is it important to keep yourestate planning up-to-date as
your life changes?
Speaker 2 (04:29):
Well, we're all particularly aware right now in,
in the world that you never knowwhat's around the corner with
this whole COVID 19 thing, butanything, I mean, you're driving
down the road, uh, whether it'sthe Bay area or here in the
Tampa Bay area, uh, we don'tlike to look at it, but you're,
you S you see horrible accidentsall the time, but what I'm
(04:50):
getting at is we don't knowwhat's around the corner for us.
So, uh, it's really important tokeep your plan up to date, uh,
as much as we'd like to thinkwe're in control or not.
Um, and so you just, if you'renot up to date, you're going to
leave a much larger challenge,uh, behind for your family
(05:12):
again.
And that's the whole point is wedon't want to leave a mess for
anybody.
And it's really simple to getthe, keep it in order.
Speaker 1 (05:19):
Fantastic.
Yeah.
Great points, things change, andthere's a reason why they're
called accidents.
If we could plan on them, youknow, that would make things a
lot different.
Definitely.
So, you know, with that in mind,how often do you suggest people
review an estate plan?
Speaker 2 (05:40):
Yeah, I, you know, I think as an agent, an agent or
an advisor, I'm a former advisoris, you know, Tony.
Um, but I think, uh, it's aconversation you should be
having with your clients at aminimum every year.
Um, and it may be a verydiscussion if you're doing it
every year.
It may be as simple asconfirming that nothing really
(06:03):
has changed, but it tells yourclient or your prospect that you
care that you're looking out forthem.
Um, that said, I think beyondthat kind of annual conversation
, um, laws don't tend to changevery quickly around estate
planning.
So as far as legal changes, not,you can go years without needing
(06:26):
to make any changes due to lawor changes in the law.
Um, but I think it's a good ideato have a deep dive every, maybe
three to five years, uh, and,and make sure everything's there
and doing what you want it todo.
And you, as an insuranceprofessional, Tony, you know, I
mean, you got to review thosebeneficiaries on a regular basis
(06:47):
and know what's going on.
Speaker 1 (06:49):
Definitely.
Well, and that's actually, mynext question is, um, why should
you review the beneficiaries onyour life insurance policies and
retirement plans?
Speaker 2 (06:59):
Well, we, yeah, this is kind of a, you know, it's
very similar to the earlierquestion about, we don't know
what what's around the cornerand what's up, but I think, you
know, life goes fast and, um,you know, you may have put
beneficiaries in place years agothat ND it's a, there's a good
chance.
Something's different now.
(07:19):
So we should be looking at thoseon a regular basis as well.
And you may have some to addthere, Tony, just how you deal
with your clients and peoplearound reviewing, um,
beneficiaries.
But, you know, you got to keep,keep on top of those.
Speaker 1 (07:34):
Yeah.
And, and part of what I'm doingwith the get ready financial
calendar is I'm urging people todo it once a year because, you
know, while every three to fiveyears, you, and I know that
that's a great timeframe is I, Ithink that's partially where as
a financial services industry,we've gotten a little bit off
track is that I think havingpeople do it at the same time
(07:58):
every year makes it a little bitmore ingrained, um, is because,
you know, as an insurance agent,I don't know when my clients
have changes, unless theypractically tell me or I reach
out to them.
So I think that's a great pointis that you have to do it, um,
(08:18):
every so often on a regularbasis.
Yeah.
So as we're talking about that,what are some of the issues that
people should look for whenthey're reviewing their estate
plans in beneficiarydesignations?
Yeah.
Speaker 2 (08:32):
Yeah.
That's a great question.
Because a lot of people, don't,you come sit down with the
advisor, whoever it might be,and, and you say nothing's
changed, but that's because youdon't know what you're looking
for.
So great point, um, you know,right out the gate, first thing
I would say is to have a look atyour powers of attorney, uh,
point your, uh, this washappened in my family.
(08:55):
We are, there's five kids and westarted to spread out around the
country.
And so my mother's power ofattorney had, uh, me as the
agent for her health care and mysister second, well, we both
moved thousands of miles away.
So, uh, that probably isn't thebest person.
(09:15):
So absolutely look at yourpowers of attorney, make sure
that the people you want incharge of your finances or your
healthcare decisions are indeedthe ones that are not only ready
and willing, but they're, uh,geographically close enough to
actually do it and can do it.
Um, and then certainly there's alot of other life, major life
(09:35):
events, like a new marriage ordivorce on the other side.
Um, did you name guardians forminor children and now, um,
yeah, you've had a falling outwith that former great friend or
whatever it might be, checkguardianship issues, um, hard,
their new children.
Did you have, did you havechildren or grand babies or
(09:57):
things like that?
Obviously.
Bennett, do you want to change abeneficiary?
It would be a big one.
Um, are you a blended family?
Have you become a blendedfamily?
There's some very specificthings you need to do around
estate planning if you're ablended family.
Um, last couple of things.
I, I, I jotted down a couple ofnotes cause I'd had a feeling
(10:19):
that question was coming Tony,but what if a beneficiary
pre-deceased you?
Yeah, that's a great one.
Yeah.
I mean, it doesn't happen often.
I hope it doesn't happen to you,the parents out there, but, uh,
it does.
So what we want to address thatand last, and this actually is
the number one trigger of alittle bit more complex estate
(10:40):
for us is if there's a specialneed someone who's a beneficiary
receiving state or federal aidfor a disability, we want to do
make sure we do the right thingthere so that we don't
jeopardize that aid.
That's going to thatbeneficiary.
We want to make sure that wedon't put them in a position
where they lose that, that help,that they're getting.
(11:00):
So those are probably thebiggies that people want to pay
attention to when they'rereviewing their estate plans.
And that's one of the things wedo with our people is we try and
stay on top of that.
Speaker 1 (11:12):
Well, great.
[inaudible] that's my nextquestion.
We're we're, we're doing greathere.
We're leading from one questionright to the next is, um, how,
how does EAP navigator help keepan estate plan up to date?
How do you help your clients dothese things?
Speaker 2 (11:26):
Yeah, I, um, a couple of different ways, Tony, um,
obviously we have a network ofattorneys throughout the country
and that we have attorneys ineach state and part of their job
is to make sure we're on top oflegal changes in that state.
Um, and so from a, from thestandpoint of the language
(11:47):
that's in the customer or theclient's document, we watched
that on and we will update on aregular basis.
A good example of that is, um,the secure act, this went into
effect this January, somechanges around, uh, how we treat
qualified accounts.
Um, and so we were right on topof that.
(12:08):
We made the adjustments and thenwe, if, if anybody needed to
have their plan updated, we takecare of that for them.
The other thing we do is we sendout an annual checklist or
reminder for the clients and docertain things, uh, so that, uh,
it kind of helps them stay ontop of these things and keep
their, um, keep their estateplan up to date.
Speaker 1 (12:32):
Fantastic.
I think that's an importantpoint is so often, and
especially, you know, you know,this coming from the insurance
businesses, people do thesethings and then they think
they're done with them, right?
When, so many of these thingsare living documents are living
surfaces.
That's great to hear you guysare doing that.
Speaker 2 (12:51):
Yeah.
And if I could add one morething to that as they are
living, but I've found over theyears and spend more than I want
to say now that you know, 20plus years, um, there's a big
myth out there that once theyput their estate plan in place
that it's going to be expensiveor complicated or both to, to
(13:12):
keep it up to date, it reallyisn't.
And as you know, Tony with ourplatform, uh, it's, it's very
simple to keep up to date makingchanges as simple it's
inexpensive amendments currentlyconstitute 150 bucks.
So, uh, there's the idea thatonce you have your plan in
place, it's going to somehow tieyour hands and make life
(13:33):
day-to-day life more complex.
I want to make sure peopleunderstand that's not the case.
Once it's in place, life goes onas normal and maintenance is
actually pretty darn easy.
Speaker 1 (13:44):
Well, that's great.
That's great.
So, um, Chris, what, what's yournumber one tip on being
financially prepared?
Speaker 2 (13:51):
Yeah.
You, you did share that questionwith me early and I knew it was
a covenant, you know, I'm justgoing to go with the very first
thought I had on that.
Uh, and it it's, it's past it.
Maybe it's a little bit, uh,what do you call it when I'm not
driving?
I don't want to make it aboutme, but, or me by far is save
(14:11):
your money because I washorrible saver as a, as a young
person.
Uh, I think I've gotten much,much better at it, but boy, once
you can create that habit, itmakes a huge difference.
And the S and in addition tothat, you people really need to
take advantages of service andthe knowledge of others, like
(14:33):
your get ready program and takeadvantage of those, put those in
place.
Because like you said earlier isyour program is going to have
people doing this on a regularbasis and keeping their
financial house in order on aregular basis.
And that's going to give peoplea real peace of knowing that
that's all in place and itcreates the habit and that's all
(14:55):
of them.
So yeah,
Speaker 1 (14:57):
No, that, that's a great tip.
And I think that's where it allstarts, because if you're not
saving anything, you're notgoing to have anything to really
do estate planning about orinsurance policies or retirement
plan.
So you have to, as withanything, you have to start with
the fundamentals right beforeyou can get to the big stuff.
Speaker 2 (15:16):
Yeah.
I mean, for some people it'sinteresting there, we know we
hear, I watch our families orour own, uh, uh, children grow
up.
Sometimes when you see thepersonality differences, this
one's a saver, this one's aspender.
Well, I was that spender thatyou become a saver, uh, and it,
it, it's not easy, but it reallyit's a, it's a life-changer once
(15:38):
you get there
Speaker 1 (15:40):
A hundred percent, a hundred percent agree.
That's a great tip.
So Chris, where can people learnmore about you and EAP
navigator?
And this will be in the shownotes as well.
Speaker 2 (15:49):
Sure.
No problem.
Uh, pretty simple.
It's just EAP navigator.com.
Um, and if you, um, you can seeus there when you land on that
website.
If you have, if you're afinancial advisor insurance
agent, there's a separate buttonup top to hit that says
advisors, and that'll take youto a whole new section, uh, but
there's lots of great contentthere and you can check us
(16:14):
out@eapnavigator.com and my, ormy profile on LinkedIn.
Speaker 1 (16:18):
Fantastic.
Fantastic, Chris.
Well, thank you so much againfor, uh, joining us again on the
get ready podcast.
Speaker 2 (16:25):
Absolutely great to be with you, Toni as always.
It's always fun.
Speaker 1 (16:31):
Definitely.
Well, have a good day.
All right.
Uh, thank you everybody fortuning into the, get ready with
Tony Stewart podcast.
Uh, please remember to subscribeuntil next time.
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