Reimagining Estate Planning As Helping Clients Make Premade Decisions For Their Loved Ones

Modern Financial Advisor

Andrew Crowell, Vice Chairman of Wealth Management at D.A. Davidson returns to the show to explore a new perspective on estate planning: pre-making decisions for heirs and loved ones. Andrew and show host Mike Langford emphasize the importance of having conversations early and often to prevent emotional duress and ensure that family members are aware of the individual's wishes. They also discuss the significance of planning for digital assets, including passwords and online accounts. The conversation highlights the need for clear instructions on how to handle sentimental or private items after someone's passing.

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Resources Mentioned In This Episode:

• Why Financial Advisors Should Teach Financial Literacy - Andrew's first appearance on the Modern Financial Advisor podcast.
• Protecting Your Clients And Your Firm From Financial Fraud - Andrew's second episode of the Modern Financial Advisor podcast.
• "Life's Key Moments" - This is the D.A. Davidson resource Andrew mentioned toward the end of the episode.

Chapters

00:00 Introduction: Improving Sound Quality with PodBox

01:26 A New Perspective on Estate Planning

03:53 Pre-Making Decisions for Heirs

07:06 Avoiding Emotional Duress

09:44 Disposition of Sentimental Items

16:30 Planning for Digital Assets

23:27 Privacy Concerns and Personal Journals

28:12 Having a Partner to Dispose of Sensitive Items

29:09 The Importance of Conversations in Estate Planning

31:37 Challenges Faced by Individuals without Biological Heirs

34:27 The Concept of an Ethical Will

37:19 The Impact of Remarriage on Estate Planning

46:51 Senior Investor Protections and the Complexity of Digital Assets

53:13 The Role of Professional Advice in Estate Planning