How Legal Documents Impact Your Finances and Retirement – Part 2

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The Story:

Americans believe it’s important to have a will, but less than half have one. Not only do many Americans lack a basic will, they often lack very important legal documents. On part two of this series, Don will discuss how his family handles these documents and the process of getting his children updated.

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The Show:

On our last podcast, we began a two-part series on why legal documents are a key part of your retirement plan. Even though most of us know this, we usually put off a meeting with an attorney to sort out our estate and put a will in place.

We all get busy, but that’s no excuse to be unprepared. Should something happen to you, your family will rely on those legal documents to ensure every asset gets to its intended destination. The only want to make sure that takes place is to create your will, assign your power of attorney, determine your beneficiaries and then keep everything updated as life progresses and changes happen.

On this episode of Your Money & Your Life, we’ll move to part two of this series. Don Cash will share his personal experiences with the process. He and his wife recently updated their documents and there were changes that needed to be made. We’ll discuss those but also talk about the process of getting his adult children to create legal documents as well.

It’s difficult to have these conversations and consider these scenarios but we want to help you take the next steps with these episodes. Listen to the entire show above or click the timestamps below to skip ahead to a specific segment.

[0:36] – Baseball season not going any better for Don than football.

[2:05] – What we talked about during part 1 of this series.

[2:45] – Don fills us in on how the estate planning is going for his family.

[3:24] – Don had to make changes with his children getting older.

[4:03] – Typically, the husband will name the wife as the executor of the will.

[4:53] – Where do your children’s spouses fit into the plan?

[5:33] – Remember that not all of your assets get passed on through the will.

[6:25] – Here’s how Don got to thinking about getting his adult children to think about legal documents.

[8:50] – How often should people be updating these types of documents.

[10:36] – Cash Connection time

[10:40] – Mailbag question: I keep hearing that if President Trump is impeached, the stock market will crash. What do you think I should do?

[11:57] – Trivia Question: Who are the only two presidents to be impeached?

[15:00] – Getting to Know Don: Any television shows that you’re into right now?


In case you missed it, here’s part one of the series. 


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Phone: (732) 784-2867



About Don:

Donald W. Cash – CPA, CFP® is an independent advisor. Don began his career in 1985 as an accountant after graduating Rutgers University. In 1990 he entered the field of Estate Planning with a concentration in long term care planning. Don has been advising clients in the baby boomer and retirement market for 20 years. He has helped over 1,000 families with their planning needs. He advoctaes a holistic approach to Estate and Financial Planning as has relationships with other professionals including Attorneys, CPA’s, Mortgage Specialists, Insurance Specialists and Asset Managers. Don is married to Cathy and have 4 children, Carly, DJ, Nick and Tori. They live in Freehold, NJ.

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