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

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. Sponsored By: PodBox - Help your guest sound their best on your podcast, webinar, or important Zoom call with a PodBox microphone setup. 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