Did you know that roughly 50% of people over 50 lack essential legal documents, such as wills, power of attorney, and healthcare directives? The numbers are even more concerning for younger demographics, with 80% of those under 30 lacking any basic documents. With over $84 trillion in assets set to transfer to the next generation, ensuring your estate is in order has never been more important.

In today’s episode, Don offers actionable advice and encourages listeners to talk with their families, update their documents, and make sure their financial house is in order. He reminds us that it’s not only about the assets but also about the emotional and practical implications for those we leave behind. Listen in to protect your financial future and keep your assets within the family- not with the government.

Here’s some of what we discuss in this episode:

• The percentages of individuals across different age groups lacking essential estate planning documents
• The importance of powers of attorney and healthcare directives once one turns 18
• Outdated legal documents, misplacing wills, and updating your estate planning materials as life changes
• Understanding IRA estate rules to avoid complications and tax liabilities
• Carefully selecting executors and trustees + sharing passwords and communicating intentions with family members