Digital Wrangling: Securing Your Online Legacy

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Welcome to something more with Chris Boyd.

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Chris Boyd is a certified financial planner, practitioner,

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and senior vice president, financial advisor at wealth

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enhancement group, one of the nation's largest registered

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investment advisors.

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We call it something more because we'd like

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to talk not only about those important dollar

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and cents issues, but also the quality of

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life issues that make the money matters better.

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Here he is your fulfillment facilitator, your partner

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in prosperity, advising clients on Cape Cod and

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across the country.

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Here's your host, Jay Christopher Boyd.

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Welcome and thanks for being with us for

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another episode of something more with Chris Boyd.

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I'm here with Jeff Perry.

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We are both of the AMR team at

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wealth enhancement and glad to have you joining

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us.

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Uh, this is going to be a great

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episode.

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You, you're going to enjoy this because it's

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going to be thought provoking and give you

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food for things you, the thoughts that you

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need to deal with.

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There's stuff you got to deal with.

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Yeah.

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You're going to have homework after this one.

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We think about estate planning all the time.

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And we talk about, uh, wills and trusts

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and power of attorney.

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There's a lot of important things to think

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about with your estate plan.

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But our next guest is Kate Huffnagle and

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she is the digital wrangler.

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And so joining us as Kate, Kate, thanks

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for being here.

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We just had a great webinar for our

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clients on a Wednesday.

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And, uh, if you are listening to the

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podcast, you'll have the opportunity to check that

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out and maybe watch that for an in

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-depth conversation or a really lesson from Kate.

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But you start just Kate, thanks for being

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here.

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Welcome to the show.

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Oh, thank you so much, Chris.

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I know you and I met earlier this

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year, uh, in Waltham when I spoke at

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a financial planning conference.

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I really appreciate the invitation to join you

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and Jeff today.

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I went to a financial planning association of

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a new England, uh, program for adult, you

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know, for education CE and so forth.

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Uh, I think it might've been wicked good

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talks, but I'm not sure.

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Anyway, when you presented, I was thinking, oh,

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this is content.

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This is the kind of stuff we need

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to share.

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Cause it's outside the norm of some people

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think about absolutely.

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And it's definitely the kind of things that

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we need to know.

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So, uh, when talking about digital assets, uh,

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I think, uh, I think of, we are

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a lot of our listeners.

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We'll probably be thinking, uh, we're talking about

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cryptocurrency, digital assets, which is a form of

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digital asset, but this topic extends far beyond

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that for the kind of things that everybody

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has, even if, whether you have, you know,

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digital cryptocurrency or not, this is the kind

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of thing that you need to deal with.

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So what are some examples of digital assets?

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Yeah, I'm glad you're asking that question.

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So the IRS defines digital assets pretty much

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just as crypto, but in the world of

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legacy organizing, digital assets are email accounts, social

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media accounts, your cloud accounts, your streaming services

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that you're paying for the photos that you're

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taking on your, on your phone.

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Or as, or as my husband says, I

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happen to carry around a camera that happens

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to be a phone.

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Yes.

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That's more true than not.

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Right.

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Right.

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So all of these online accounts, whether you're

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getting medications on auto ship, or you're getting

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pet food on auto ship or toilet paper

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on, on auto ship, right?

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All of these accounts that we take for

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granted are considered digital assets.

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So these, oh, sorry, Jeff, go ahead.

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I was going to say, Kate, when you

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said that during our client webinar, I just

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had this picture of, after I leave this

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earth of us getting these auto shipments of

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dog food at this house forever and ever

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and ever.

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Boxes arriving and piling up.

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Yeah.

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Well, I joke with my husband.

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I mean, this is, this is probably TMI,

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but I mean, I, I always put it

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out there.

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I mean, I get estrogen patches delivered 90

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days supply at a time.

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And so I ask him all the time.

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I'm like, babe, what are you going to

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do with these estrogen patches?

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He's like, oh, black market.

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Black market.

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What do I do with these?

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How do I stop them?

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Yeah.

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Yeah.

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And that's true.

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Like, um, I get, I kind of think

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prescriptions, uh, that's very true.

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And it's not getting less.

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It's going to be five years from now.

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It's going to be even more prevalent.

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Every, these digital assets and these things that

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are just automated.

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And how do, how do our heirs shut

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them off or even know they're coming?

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They want some of these things, right?

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You know, let's take, take, take one.

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You know, Amazon is a great example where,

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you know, uh, we do all, not we,

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but lots of people do, right.

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We, we, we do, you know, collectively we

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do, we do shopping, uh, in a convenient

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way, stuff can come automatically there too.

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That's a good point, but, um, we might

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have all these things that we've already purchased

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through, like, I'm thinking like our Audible account

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is, is Amazon, our, um, our music could

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be Amazon, our, uh, prime, uh, videos I've

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purchased, you know, stuff, uh, yeah.

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Right.

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There's all these examples of things that just

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like, Oh, that's just one vendor.

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Right.

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That's one vendor, right?

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If you're, if you're an Apple person or,

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you know, think back in the early days

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of like, you know, iPod and you were,

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you know, buying, you know, music through iTunes

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or I have some of those still, right.

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It's not really the way I do it

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anymore.

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I listened to Spotify, but there's another subscription.

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Uh, you know, is that something I need

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to be planning for, uh, in some of

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these kinds of examples?

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Now, the things where there's like a, I

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think a subscription, like.

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Spotify or, um, Netflix or, um, I don't

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know, things that just, I don't download, I

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don't purchase on those.

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I just have a monthly cost.

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Right.

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So in those cases, it's just a matter

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of how do I terminate a subscription when

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someone's passed?

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Right.

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Cause they show up on your credit card.

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Otherwise you didn't build, right.

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Might be L2, you, or maybe not.

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And who has access to your email just

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as foundationally.

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Right.

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Yeah.

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You start peeling the layers of the onion

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and it's, it's just like, wow.

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Wow.

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So I, I had a change in cars

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and Sirius XM notified me.

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Oh, we got notified.

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So that one you'd trade in your car.

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Maybe you get, uh, they're going to be

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on top of it, but not everyone's going

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to do that.

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Right.

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So, okay.

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Uh, there's this, I, let's talk about the

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photos for a minute.

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I'm thinking social media and Facebook.

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Um, it could be, uh, you mentioned through

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Apple or, you know, maybe Android, you, you

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know, you have a cloud account where a

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lot of this stuff gets saved and stored.

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Um, these are kind of different examples, maybe

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social media from the device.

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But, uh, can you talk a little bit

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about these kinds of circumstances, social media, the

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device, what do we need to be thinking

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about when it comes to our digital footprint

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and the legacy issues?

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Yeah.

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So, so there, there's a lot to think

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about.

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Um, so let me start with, um, I

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mean, I'm going to start with Apple.

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I go into, um, independent living communities twice

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a month in, in my local neighborhood and

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give a monthly tech talk.

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Um, and I make sure once a year

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I touch on, um, digital legacy, but most

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of those residents have.

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Apple phones or iPhones.

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So let's just start there.

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Yeah.

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Um, so you're using your Apple phone.

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I'm an, I'm an iPhone user myself.

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I'm taking photos.

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I'm using this devices and it's a gateway

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to my digital life, right?

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I got my email on here.

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Um, I have my frequent flyer apps, you

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know, my United app, my Southwest app, et

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cetera, my social media apps.

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Um, and so.

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Let's think about it.

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It's, it's obvious to me, but I don't

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think it's obvious to, to many people is,

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okay, can your loved one access your device?

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It's like a way to everything, but yeah,

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if you're in face, isn't there or your

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thumbprint isn't there or whatever, how do I

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get in this thing?

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And maybe your spouse, they might know, but

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if it's not your spouse, you're, you know,

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if you have your child or whatever the

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situation, probably not.

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Right.

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And, and I'll, and I'll tell you, Jeff,

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that my friends who are married, they have

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freely told me that their spouses don't have

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the password to their phone.

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Um, now my spouse and I, that's another

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issue.

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Yeah, that's, that's, that's another, my wife will

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know.

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Cause I'm like an open book, but, uh,

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she's got, she got the keys to all

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my passwords everywhere.

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Right.

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Which, which is great.

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And, and I met my husband in my

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late forties.

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Um, and at that point in our lives,

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we're just like, well, this is who I

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am.

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You know, I don't care.

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Here you go.

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Right.

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Um, so having access to the device, whether

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it's the phone or the computer, um, I'm

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thinking about my 80 year old parents.

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They, they have a lot of documents on

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their computer.

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So every time I travel back East and

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I'm visiting them, I'm, I'm having that conversation

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is going, I'm going into their home office,

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trying to log on.

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00:10:14,430 --> 00:10:16,150
Do I have, they changed the password to

273
00:10:16,150 --> 00:10:17,250
that computer or not?

274
00:10:17,710 --> 00:10:20,850
Um, so let's, let's, that's, that's the first

275
00:10:20,850 --> 00:10:22,810
step is just thinking about all your devices.

276
00:10:23,390 --> 00:10:24,730
Our loved one's going to be able to

277
00:10:24,730 --> 00:10:25,410
access them.

278
00:10:26,010 --> 00:10:28,530
And, um, and then you asked, then we'll

279
00:10:28,530 --> 00:10:29,210
talk about Apple.

280
00:10:29,330 --> 00:10:32,450
So Apple has a feature called a legacy

281
00:10:32,450 --> 00:10:34,330
contact feature.

282
00:10:35,330 --> 00:10:38,350
And if you're one of the very few

283
00:10:38,350 --> 00:10:41,930
individuals that's reading the Apple or specifically the

284
00:10:41,930 --> 00:10:46,230
iCloud terms of service agreement, you know, what

285
00:10:46,230 --> 00:10:49,630
we love when we are alive, and that's

286
00:10:49,630 --> 00:10:52,150
why we use these technologies is because they're

287
00:10:52,150 --> 00:10:54,830
telling us, you can trust us with your

288
00:10:54,830 --> 00:10:55,090
data.

289
00:10:55,230 --> 00:10:58,270
We're not going to share it with anybody.

290
00:10:59,330 --> 00:11:00,630
Um, now sure.

291
00:11:00,630 --> 00:11:03,270
Some of those social media sites might be

292
00:11:03,270 --> 00:11:05,230
tracking our behavior.

293
00:11:05,450 --> 00:11:07,930
What ads do we click on, et cetera,

294
00:11:08,010 --> 00:11:12,090
but what we post, you know, that we're,

295
00:11:12,170 --> 00:11:14,790
we're in charge, I think about Facebook, right?

296
00:11:14,810 --> 00:11:17,910
I can pay, I can post on Facebook

297
00:11:17,910 --> 00:11:20,930
and have all of my Facebook friends see

298
00:11:20,930 --> 00:11:21,490
the post.

299
00:11:21,650 --> 00:11:24,710
I could dig out an old photo from

300
00:11:24,710 --> 00:11:26,690
the nineties when I was in college and

301
00:11:26,690 --> 00:11:29,170
just have it post so that my college

302
00:11:29,170 --> 00:11:31,410
friends only see it because I'm a little

303
00:11:31,410 --> 00:11:33,510
too embarrassed about my perm hair.

304
00:11:34,670 --> 00:11:37,210
Um, or if I don't care about my

305
00:11:37,210 --> 00:11:39,990
privacy on Facebook, I can post so that

306
00:11:39,990 --> 00:11:42,990
everyone on Facebook can see it, whether they're

307
00:11:42,990 --> 00:11:44,510
my Facebook friend or not.

308
00:11:45,350 --> 00:11:49,470
So when I'm alive, I'm in control and

309
00:11:49,470 --> 00:11:54,710
Facebook, that policy still applies if I'm in

310
00:11:54,710 --> 00:11:57,850
a coma or if I've passed away.

311
00:11:58,530 --> 00:12:00,510
And so if I don't be, if I'm

312
00:12:00,510 --> 00:12:03,190
not proactive and I, if I don't tell

313
00:12:03,190 --> 00:12:07,030
Facebook through the Facebook legacy contact, I want

314
00:12:07,030 --> 00:12:10,830
this person to be able to memorialize my

315
00:12:10,830 --> 00:12:16,170
Facebook account, to delete my account, or I

316
00:12:16,170 --> 00:12:18,190
want them to, or I want that person

317
00:12:18,190 --> 00:12:20,630
to be able to download everything that I've

318
00:12:20,630 --> 00:12:23,310
ever posted on Facebook and then delete my

319
00:12:23,310 --> 00:12:23,690
account.

320
00:12:24,210 --> 00:12:29,210
Um, if we don't tell these, these companies

321
00:12:29,210 --> 00:12:34,330
through these tools, then our loved ones really,

322
00:12:34,330 --> 00:12:36,130
um, can struggle.

323
00:12:36,770 --> 00:12:39,770
And not to those that were in September,

324
00:12:40,050 --> 00:12:41,410
um, it was July.

325
00:12:41,590 --> 00:12:45,150
My tech talk theme for these independent living

326
00:12:45,150 --> 00:12:48,630
communities, um, was actually Facebook, right?

327
00:12:48,630 --> 00:12:50,290
Because Facebook's constantly changing.

328
00:12:50,930 --> 00:12:54,210
These older adults get a little confused and

329
00:12:54,210 --> 00:12:54,690
frustrated.

330
00:12:55,210 --> 00:12:58,030
And this one woman, 88 years old, she

331
00:12:58,030 --> 00:12:59,570
uses Facebook every day.

332
00:12:59,810 --> 00:13:00,550
It's very common.

333
00:13:00,710 --> 00:13:00,830
Yeah.

334
00:13:01,350 --> 00:13:01,710
Yep.

335
00:13:01,750 --> 00:13:04,330
She calls me over and she has her

336
00:13:04,330 --> 00:13:07,250
Facebook, um, open on her phone and she

337
00:13:07,250 --> 00:13:10,630
says, Kate, all of these friends of mine

338
00:13:10,630 --> 00:13:13,470
have passed away, but they keep showing up,

339
00:13:13,470 --> 00:13:15,410
how do I get rid of them?

340
00:13:15,650 --> 00:13:18,030
And I'm like, we'll call her Rose.

341
00:13:18,030 --> 00:13:20,370
I'm like, Rose, I'm like, there's nothing that

342
00:13:20,370 --> 00:13:20,890
you can do.

343
00:13:20,970 --> 00:13:22,910
The families need to take action.

344
00:13:23,250 --> 00:13:24,910
She's like, this is just, she's like, this

345
00:13:24,910 --> 00:13:26,870
makes me sad every single day.

346
00:13:26,930 --> 00:13:28,950
Like, I don't, I know that they've passed.

347
00:13:29,130 --> 00:13:31,370
I don't need to be reminded every day

348
00:13:31,370 --> 00:13:32,870
when I log into Facebook.

349
00:13:33,930 --> 00:13:37,330
So, um, so Facebook has a legacy contact.

350
00:13:37,970 --> 00:13:40,110
Jeff, you ever seen that with, uh, someone

351
00:13:40,110 --> 00:13:42,010
you knew died five years ago and everyone's

352
00:13:42,010 --> 00:13:43,190
wishing him a happy birthday.

353
00:13:43,710 --> 00:13:43,970
Yeah.

354
00:13:44,170 --> 00:13:44,450
Yeah.

355
00:13:44,550 --> 00:13:44,810
Yeah.

356
00:13:44,810 --> 00:13:46,870
It's like, it's like you cringe it when

357
00:13:46,870 --> 00:13:47,430
you see that.

358
00:13:47,430 --> 00:13:51,530
So this, so this, we're kind of talking

359
00:13:51,530 --> 00:13:53,070
about it in the context of when someone

360
00:13:53,070 --> 00:13:53,810
passes.

361
00:13:54,070 --> 00:13:56,450
But how about when there's an incapacity of

362
00:13:56,450 --> 00:13:56,990
a person?

363
00:13:57,930 --> 00:14:01,190
Um, so like, so like Rose in this

364
00:14:01,190 --> 00:14:04,990
example, she's alive, but she's, you know, she's

365
00:14:04,990 --> 00:14:07,150
getting older and she doesn't have the capacity

366
00:14:07,150 --> 00:14:08,330
any, any longer.

367
00:14:08,690 --> 00:14:12,230
And so somebody's got her in our scenario.

368
00:14:12,330 --> 00:14:14,370
Her nephew has a power of attorney, durable

369
00:14:14,370 --> 00:14:15,110
power of attorney.

370
00:14:15,850 --> 00:14:18,850
Is Facebook going to care about that durable

371
00:14:18,850 --> 00:14:19,570
power of attorney?

372
00:14:19,730 --> 00:14:20,910
Are they going to honor it?

373
00:14:20,970 --> 00:14:22,810
If somebody comes knocking at the door and

374
00:14:22,810 --> 00:14:25,950
say, you know, on, on Rose's behalf, I

375
00:14:25,950 --> 00:14:29,010
want to download this account and terminate it.

376
00:14:29,510 --> 00:14:29,610
Yeah.

377
00:14:29,670 --> 00:14:31,510
So that's a really sticky one.

378
00:14:32,030 --> 00:14:35,550
Um, the terms of service agreements that I

379
00:14:35,550 --> 00:14:40,230
have read primarily focus on after someone passes.

380
00:14:40,230 --> 00:14:40,490
Right.

381
00:14:41,670 --> 00:14:45,330
Um, now the good news with Facebook is

382
00:14:45,330 --> 00:14:50,450
there is no financial string, right?

383
00:14:50,570 --> 00:14:51,930
That account is free.

384
00:14:52,470 --> 00:14:55,150
Um, and that's now that I'm thinking about

385
00:14:55,150 --> 00:14:56,990
it out loud, that's probably why they don't

386
00:14:56,990 --> 00:14:59,790
really Facebook in particular doesn't really talk about

387
00:14:59,790 --> 00:15:00,910
incapacitation.

388
00:15:02,010 --> 00:15:06,230
Um, but I am inspiring the residents in,

389
00:15:06,370 --> 00:15:10,250
in these communities to have those conversations with

390
00:15:10,250 --> 00:15:10,970
their loved ones.

391
00:15:11,070 --> 00:15:12,910
Cause they may walk around with their little

392
00:15:12,910 --> 00:15:14,650
password book.

393
00:15:15,730 --> 00:15:18,090
Some of them have shared with me that

394
00:15:18,090 --> 00:15:20,870
they have been, that they're so safe that

395
00:15:20,870 --> 00:15:23,230
they've written their passwords down in code.

396
00:15:23,510 --> 00:15:26,390
And then I ask them, okay, but do

397
00:15:26,390 --> 00:15:28,250
your loved ones know the code?

398
00:15:29,410 --> 00:15:31,330
And they just look at me and they're

399
00:15:31,330 --> 00:15:32,970
like, oh my God, I never thought about

400
00:15:32,970 --> 00:15:33,410
that.

401
00:15:35,130 --> 00:15:38,310
Um, and, and, and so they think they're

402
00:15:38,310 --> 00:15:40,910
being safe by writing them down in code.

403
00:15:40,910 --> 00:15:42,810
But then when I asked that question, okay,

404
00:15:42,810 --> 00:15:46,070
if you're not able to communicate, then what

405
00:15:46,070 --> 00:15:46,730
happens?

406
00:15:46,930 --> 00:15:49,010
And then the light bulb goes off.

407
00:15:49,470 --> 00:15:49,570
Yeah.

408
00:15:49,650 --> 00:15:52,330
I think that's a, uh, you know, I

409
00:15:52,330 --> 00:15:55,350
think that's a bigger hole than we think

410
00:15:55,350 --> 00:15:56,490
is out there, you know, we think of

411
00:15:56,490 --> 00:15:57,730
death, right.

412
00:15:57,750 --> 00:15:59,530
And then we think, okay, well, how are

413
00:15:59,530 --> 00:16:00,250
we going to handle that?

414
00:16:00,350 --> 00:16:03,090
But there's more often than not.

415
00:16:03,090 --> 00:16:04,650
Well, maybe not more often than not cause

416
00:16:04,650 --> 00:16:08,070
everyone passes, but many times there's this period

417
00:16:08,070 --> 00:16:10,830
of incapacitation and, you know, do our loved

418
00:16:10,830 --> 00:16:12,790
ones, do our powers of attorneys know how

419
00:16:12,790 --> 00:16:14,910
to access all the things we're talking about?

420
00:16:15,990 --> 00:16:16,090
Right.

421
00:16:16,470 --> 00:16:19,470
Well, and, and hopefully the financial power of

422
00:16:19,470 --> 00:16:23,150
attorney at least has the knowledge and the

423
00:16:23,150 --> 00:16:26,530
details to access anything that has a, a

424
00:16:26,530 --> 00:16:29,890
bill, a financial implication with it.

425
00:16:30,190 --> 00:16:30,350
Yeah.

426
00:16:30,350 --> 00:16:30,970
You know, it's funny.

427
00:16:30,970 --> 00:16:32,610
I'm just, I'm listening to you guys and

428
00:16:32,610 --> 00:16:35,390
thinking that, uh, we keep running into this

429
00:16:35,390 --> 00:16:37,930
issue where people don't have checks anymore.

430
00:16:38,830 --> 00:16:42,090
They have bank accounts, but nobody uses a

431
00:16:42,090 --> 00:16:42,650
checkbook.

432
00:16:43,230 --> 00:16:45,890
So all they do is use it to

433
00:16:45,890 --> 00:16:48,270
transfer money, you know, pay bills online and

434
00:16:48,270 --> 00:16:48,790
so forth.

435
00:16:49,310 --> 00:16:53,130
And you know, that's whether it's, uh, incapacity

436
00:16:53,130 --> 00:16:57,750
or after one's passing, um, you get some

437
00:16:57,750 --> 00:17:00,190
challenges of, does anyone know how to access

438
00:17:00,190 --> 00:17:00,970
this stuff?

439
00:17:01,790 --> 00:17:04,970
Um, I do think there are challenges when

440
00:17:04,970 --> 00:17:09,050
someone passes, whether, uh, banks consider you to

441
00:17:09,050 --> 00:17:13,910
have rights to that deceased person's online access,

442
00:17:14,130 --> 00:17:14,410
right?

443
00:17:14,470 --> 00:17:16,670
They don't want you to, well, technically if

444
00:17:16,670 --> 00:17:18,970
you're not on that account, that account is,

445
00:17:19,130 --> 00:17:20,869
or even if you are, they want you

446
00:17:20,869 --> 00:17:24,450
to use your own online access, uh, for

447
00:17:24,450 --> 00:17:25,290
that kind of stuff.

448
00:17:25,650 --> 00:17:28,630
But it's, um, it does, you know, it's

449
00:17:28,630 --> 00:17:29,490
a good example though.

450
00:17:29,610 --> 00:17:31,650
If, if you didn't, Kate, you gave a

451
00:17:31,650 --> 00:17:33,830
great example in the webinar that, you know,

452
00:17:33,870 --> 00:17:35,690
that you're kind of a moving story about,

453
00:17:35,950 --> 00:17:38,670
you know, the, the widower in this case

454
00:17:38,670 --> 00:17:43,770
who just didn't know that the bill was

455
00:17:43,770 --> 00:17:46,910
being paid online, didn't have, you know, access

456
00:17:46,910 --> 00:17:49,110
to the email to get the bills or

457
00:17:49,110 --> 00:17:52,770
whatever, and therefore the lights go out.

458
00:17:52,930 --> 00:17:53,030
Yeah.

459
00:17:53,030 --> 00:17:54,430
The water's off, whatever it is.

460
00:17:54,530 --> 00:17:54,830
Yeah.

461
00:17:55,430 --> 00:17:58,910
Uh, so, you know, if you're not seeing

462
00:17:58,910 --> 00:18:02,290
that stuff in the old paper, which we,

463
00:18:02,330 --> 00:18:03,930
you know, we used to, when someone died,

464
00:18:03,990 --> 00:18:05,310
you'd still get a bill in the mail,

465
00:18:05,370 --> 00:18:07,390
the life insurance, wait by the mailbox.

466
00:18:07,590 --> 00:18:10,110
You'll learn everything in a month, but if

467
00:18:10,110 --> 00:18:13,110
you don't get a bill by paper anymore

468
00:18:13,110 --> 00:18:15,750
and you don't have a paper insurance policy

469
00:18:15,750 --> 00:18:19,070
and you don't have, you know, how do

470
00:18:19,070 --> 00:18:20,090
you know these things?

471
00:18:20,090 --> 00:18:21,610
And you may not even have access to

472
00:18:21,610 --> 00:18:25,250
where it's stored on a computer that, you

473
00:18:25,250 --> 00:18:27,410
know, the, the life insurance was an example

474
00:18:27,410 --> 00:18:28,430
I had never thought of.

475
00:18:28,430 --> 00:18:29,870
Um, Kate, you mentioned that.

476
00:18:30,270 --> 00:18:33,450
And incidentally, again, if you want to watch

477
00:18:33,450 --> 00:18:36,430
the video, you can go to our website

478
00:18:36,430 --> 00:18:41,350
and it's a wealthenhancement.com slash AMR, you'll

479
00:18:41,350 --> 00:18:44,370
get to our website and, or something more

480
00:18:44,370 --> 00:18:46,410
with chrisboyd.com and you'll get to our

481
00:18:46,410 --> 00:18:46,730
website.

482
00:18:46,730 --> 00:18:49,630
So in any case, um, you'll want to

483
00:18:49,630 --> 00:18:51,630
check this out, but, uh, that was an

484
00:18:51,630 --> 00:18:53,770
asset that, you know, life insurance used to

485
00:18:53,770 --> 00:18:57,470
be delivered with a folder, you know, uh,

486
00:18:57,470 --> 00:18:59,770
uh, sometimes there was like a whole presentation

487
00:18:59,770 --> 00:19:06,370
of this very nice binder of sorts that

488
00:19:06,370 --> 00:19:08,970
would, how is your life insurance policy?

489
00:19:09,290 --> 00:19:10,850
I get an email, by the way, your,

490
00:19:10,910 --> 00:19:12,670
your life insurance has been issued, you know,

491
00:19:12,670 --> 00:19:16,510
and there's a PDF maybe attached or something.

492
00:19:17,090 --> 00:19:17,450
Yeah.

493
00:19:17,550 --> 00:19:19,730
Chris, I was on a podcast earlier this

494
00:19:19,730 --> 00:19:23,510
year where the podcast host talked about a

495
00:19:23,510 --> 00:19:24,750
five 29 account.

496
00:19:25,050 --> 00:19:29,650
So, um, it was a, uh, the parents

497
00:19:29,650 --> 00:19:31,010
were divorced.

498
00:19:31,490 --> 00:19:35,690
The mom had a five 29 account for

499
00:19:35,690 --> 00:19:38,530
both of her daughters, the younger daughter.

500
00:19:38,670 --> 00:19:40,950
So the, the mom, if I remember correctly,

501
00:19:40,950 --> 00:19:44,990
passed away unexpectedly in July, about six weeks

502
00:19:44,990 --> 00:19:46,890
before the younger one was going off to

503
00:19:46,890 --> 00:19:55,170
college and, um, the daughters are now, you

504
00:19:55,170 --> 00:19:55,970
know, college age.

505
00:19:56,130 --> 00:19:57,630
They've, they've lost their mom.

506
00:19:58,110 --> 00:19:59,490
They're a mess.

507
00:19:59,610 --> 00:20:02,950
And now the school that she's enrolling in

508
00:20:02,950 --> 00:20:04,590
is asking for tuition payment.

509
00:20:05,070 --> 00:20:05,170
Right.

510
00:20:05,230 --> 00:20:07,530
And, and the daughters are like, well, mom

511
00:20:07,530 --> 00:20:08,890
had a five 29, but we have no

512
00:20:08,890 --> 00:20:09,250
idea.

513
00:20:09,530 --> 00:20:11,670
How do we get, we have, we have

514
00:20:11,670 --> 00:20:12,150
no, yeah.

515
00:20:12,390 --> 00:20:15,110
Where, like what firm is it with?

516
00:20:15,490 --> 00:20:16,410
And exactly.

517
00:20:16,910 --> 00:20:23,170
So we know just not the, uh, angst

518
00:20:23,170 --> 00:20:26,010
of helping the loved one, but we know

519
00:20:26,010 --> 00:20:28,070
that hundreds of millions of dollars every year

520
00:20:28,070 --> 00:20:31,110
sheet back to the states across the country,

521
00:20:31,110 --> 00:20:34,730
because these accounts are lost in many cases.

522
00:20:36,010 --> 00:20:36,610
Right.

523
00:20:36,610 --> 00:20:40,390
And as we are accumulating more digital accounts,

524
00:20:40,710 --> 00:20:42,730
particularly in this age of what I call,

525
00:20:42,810 --> 00:20:44,790
you know, digital banking, right.

526
00:20:44,850 --> 00:20:47,190
People, even if it's just for CDs, Oh,

527
00:20:47,330 --> 00:20:48,390
you know what, I'm going to go over

528
00:20:48,390 --> 00:20:49,770
to this bank, I'm going to get a

529
00:20:49,770 --> 00:20:52,550
half a percentage point higher, or maybe I've

530
00:20:52,550 --> 00:20:54,270
got some eye bonds or something.

531
00:20:55,530 --> 00:20:55,930
Yeah.

532
00:20:56,270 --> 00:20:56,490
Yeah.

533
00:20:57,490 --> 00:20:59,130
How to, how to love ones know about

534
00:20:59,130 --> 00:20:59,350
it.

535
00:20:59,950 --> 00:21:00,050
Right.

536
00:21:00,290 --> 00:21:00,690
Yeah.

537
00:21:00,710 --> 00:21:01,510
That's a great point.

538
00:21:01,610 --> 00:21:04,710
And you gotta have this, uh, list of

539
00:21:04,710 --> 00:21:06,470
where to access this stuff, how to get

540
00:21:06,470 --> 00:21:08,950
into it, where is it, uh, you know,

541
00:21:08,990 --> 00:21:10,610
to at least know it exists, right.

542
00:21:10,710 --> 00:21:14,310
To have some awareness and, you know, this

543
00:21:14,310 --> 00:21:17,430
is really a common, uh, circumstance in the

544
00:21:17,430 --> 00:21:20,250
area of finance is that when, particularly in

545
00:21:20,250 --> 00:21:24,610
a couple, um, one person tends to be

546
00:21:24,610 --> 00:21:26,930
the one who deals with that stuff and

547
00:21:26,930 --> 00:21:29,210
the other person deals with other stuff and,

548
00:21:29,530 --> 00:21:32,530
you know, we, we have our household delegation

549
00:21:32,530 --> 00:21:33,830
of, you know, like you do that, I'll

550
00:21:33,830 --> 00:21:35,770
do this and, you know, divide and conquer

551
00:21:35,770 --> 00:21:36,330
kind of thing.

552
00:21:36,870 --> 00:21:40,870
And you might not just, oftentimes people are

553
00:21:40,870 --> 00:21:43,250
not aware of how, where it is, how

554
00:21:43,250 --> 00:21:43,890
it's structured.

555
00:21:44,670 --> 00:21:46,770
Um, as time passes, we spend a lot

556
00:21:46,770 --> 00:21:49,150
of time trying to encourage people to at

557
00:21:49,150 --> 00:21:51,230
least be tuned in to have an awareness,

558
00:21:51,770 --> 00:21:54,050
you know, you can still have one person

559
00:21:54,050 --> 00:21:57,510
be the primary white person, but, and you

560
00:21:57,510 --> 00:22:00,150
can delegate some of these things, but it's

561
00:22:00,150 --> 00:22:01,730
helpful to at least have an awareness.

562
00:22:02,540 --> 00:22:05,290
You got to have that awareness because particularly,

563
00:22:05,550 --> 00:22:06,990
and I think Jeff brought this up earlier

564
00:22:06,990 --> 00:22:09,670
with the financial accounts, there are some pretty

565
00:22:09,670 --> 00:22:13,910
strict rules that those financial institutions put in

566
00:22:13,910 --> 00:22:15,190
place, right?

567
00:22:15,250 --> 00:22:19,630
And so in my opinion, a good financial

568
00:22:19,630 --> 00:22:22,390
planner and a good estate attorney are going

569
00:22:22,390 --> 00:22:25,410
to be looking at how those financial accounts,

570
00:22:25,550 --> 00:22:28,190
um, are, are titled or, you know, who

571
00:22:28,190 --> 00:22:30,590
the account owner is and doing a review

572
00:22:30,590 --> 00:22:32,890
of those beneficiary designations.

573
00:22:33,450 --> 00:22:36,470
Um, because oftentimes when those banks get that

574
00:22:36,470 --> 00:22:39,710
notification that someone's passed, those assets become frozen.

575
00:22:40,310 --> 00:22:43,050
And then that executor has to follow.

576
00:22:43,330 --> 00:22:44,870
It takes a long time.

577
00:22:44,930 --> 00:22:46,570
Yeah, it takes a long time.

578
00:22:46,590 --> 00:22:46,930
Right.

579
00:22:47,350 --> 00:22:49,370
And I didn't touch on this in the,

580
00:22:49,470 --> 00:22:50,030
in the webinar.

581
00:22:50,970 --> 00:22:53,730
Um, but last year of a report came

582
00:22:53,730 --> 00:22:55,690
out that says in that, that said in

583
00:22:55,690 --> 00:22:57,830
the immediate days and weeks of losing a

584
00:22:57,830 --> 00:23:01,950
loved one, families are spending over $12,000.

585
00:23:03,070 --> 00:23:05,050
Now that could be to pay for a

586
00:23:05,050 --> 00:23:05,450
funeral.

587
00:23:05,890 --> 00:23:09,630
It could be because, you know, 40 people

588
00:23:09,630 --> 00:23:12,710
have converged and traveled from around the country

589
00:23:12,710 --> 00:23:15,230
and they're now, you know, keeping you company,

590
00:23:15,410 --> 00:23:16,890
but those people need to be fed.

591
00:23:17,490 --> 00:23:22,770
Um, but $12,000, I mean, that, that,

592
00:23:22,910 --> 00:23:25,610
that's, that's, that's a lot of money when

593
00:23:25,610 --> 00:23:27,870
you are out of pocket, do you have

594
00:23:27,870 --> 00:23:30,910
the availability to cough up $12,000?

595
00:23:32,030 --> 00:23:32,390
Yeah.

596
00:23:32,570 --> 00:23:34,170
All the things that might be needed.

597
00:23:34,510 --> 00:23:34,710
Yeah.

598
00:23:35,010 --> 00:23:35,410
That's a good point.

599
00:23:35,550 --> 00:23:38,090
And then if it takes, you know, uh,

600
00:23:38,490 --> 00:23:42,670
nine months, a year before probate is completed,

601
00:23:43,010 --> 00:23:45,610
um, how do we get at some of

602
00:23:45,610 --> 00:23:47,630
that money to pay some of the bills

603
00:23:47,630 --> 00:23:50,330
and, you know, some of the challenges you

604
00:23:50,330 --> 00:23:50,950
talked about?

605
00:23:50,950 --> 00:23:54,010
An interesting thing when people made some quick

606
00:23:54,010 --> 00:23:57,650
decisions, trying to save some money, turning off

607
00:23:57,650 --> 00:24:01,130
a cell phone, um, or closing out some

608
00:24:01,130 --> 00:24:03,210
accounts that, that, that was a, I think

609
00:24:03,210 --> 00:24:04,130
an interesting tidbit.

610
00:24:04,230 --> 00:24:05,390
You share that again, would you?

611
00:24:06,250 --> 00:24:06,450
Yeah.

612
00:24:06,550 --> 00:24:08,230
So I had, uh, one of my early

613
00:24:08,230 --> 00:24:10,990
clients, um, so my business, the digital wrangler

614
00:24:10,990 --> 00:24:13,550
is, um, almost three and a half years

615
00:24:13,550 --> 00:24:13,750
old.

616
00:24:13,770 --> 00:24:16,270
Now, one of my first clients was a

617
00:24:16,270 --> 00:24:17,350
woman from the Midwest.

618
00:24:19,610 --> 00:24:21,530
And since my business was still kind of

619
00:24:21,530 --> 00:24:23,850
new and I don't live in the Midwest,

620
00:24:24,290 --> 00:24:25,750
I was, I asked the question, Hey, how

621
00:24:25,750 --> 00:24:26,570
did you find me?

622
00:24:27,330 --> 00:24:29,630
Um, and then I asked the second question,

623
00:24:29,710 --> 00:24:32,170
okay, well, why do you want to work

624
00:24:32,170 --> 00:24:32,590
with me?

625
00:24:32,590 --> 00:24:35,070
And she shared that, you know, her, her

626
00:24:35,070 --> 00:24:37,170
mom had been sick for two or three

627
00:24:37,170 --> 00:24:37,490
years.

628
00:24:37,650 --> 00:24:40,490
So, you know, her passing wasn't unexpected.

629
00:24:40,490 --> 00:24:42,710
They had time to, you know, meet with

630
00:24:42,710 --> 00:24:45,490
the attorneys, meet with the financial, um, advisors

631
00:24:45,490 --> 00:24:51,010
and get all of this information organized.

632
00:24:51,490 --> 00:24:54,670
Um, but my client, after her mom passed,

633
00:24:54,710 --> 00:24:56,870
she's just like, I, I, I've got these

634
00:24:56,870 --> 00:24:57,590
other bills.

635
00:24:57,590 --> 00:24:58,870
I need to make sure they get paid

636
00:24:58,870 --> 00:25:01,250
for, I don't want to pay for my

637
00:25:01,250 --> 00:25:02,150
mom's cell phone.

638
00:25:02,270 --> 00:25:06,910
So she turned it off and she realized,

639
00:25:07,030 --> 00:25:09,710
you know, within a half an hour, she's

640
00:25:09,710 --> 00:25:11,430
like, Oh my gosh, I was trying to

641
00:25:11,430 --> 00:25:13,790
log into mom's Amazon account and close it.

642
00:25:13,790 --> 00:25:16,010
But they're sending a text message to her

643
00:25:16,010 --> 00:25:16,390
phone.

644
00:25:16,570 --> 00:25:20,690
And I just turned that off, um, or

645
00:25:20,690 --> 00:25:23,090
any of the other online accounts, right?

646
00:25:23,110 --> 00:25:26,630
Because multi-factor authentication in this day and

647
00:25:26,630 --> 00:25:29,970
age of, of cyber attacks is a blessing

648
00:25:29,970 --> 00:25:32,070
in a hurry to get rid of that

649
00:25:32,070 --> 00:25:32,750
phone though.

650
00:25:32,890 --> 00:25:33,070
Huh?

651
00:25:33,130 --> 00:25:34,230
Don't be in a right.

652
00:25:34,290 --> 00:25:36,090
So her reasoning was sound.

653
00:25:36,090 --> 00:25:37,690
I don't want to pay for this bill.

654
00:25:37,690 --> 00:25:43,870
My mom has passed, but she realized very

655
00:25:43,870 --> 00:25:45,890
quickly that that was a mistake that she

656
00:25:45,890 --> 00:25:46,210
made.

657
00:25:46,730 --> 00:25:46,830
Yeah.

658
00:25:47,010 --> 00:25:49,150
Easy to see how that would be totally

659
00:25:49,150 --> 00:25:52,170
rational, but in hindsight, right.

660
00:25:52,930 --> 00:25:55,250
Um, and then, you know, that email address,

661
00:25:55,370 --> 00:25:58,030
uh, you know, keep that account open, but

662
00:25:58,030 --> 00:25:59,590
do you know how to get into it?

663
00:25:59,590 --> 00:25:59,910
Right.

664
00:26:00,030 --> 00:26:01,130
Or those kinds of things.

665
00:26:02,610 --> 00:26:06,490
Um, I was just thinking, um, today it

666
00:26:06,490 --> 00:26:10,430
seems like Venmo is more popular than, or,

667
00:26:10,530 --> 00:26:16,430
or similar venues, you know, um, I gotta

668
00:26:16,430 --> 00:26:19,210
say I was a slow adopter to that,

669
00:26:19,370 --> 00:26:20,770
but you know, Oh, now I got a

670
00:26:20,770 --> 00:26:23,810
Venmo account, you know, but would anyone know

671
00:26:23,810 --> 00:26:26,710
how to get at my Venmo, uh, the

672
00:26:26,710 --> 00:26:26,970
mouth?

673
00:26:27,070 --> 00:26:28,790
No, that's not going to break the bank

674
00:26:28,790 --> 00:26:29,230
or anything.

675
00:26:29,230 --> 00:26:30,590
It's not my balance.

676
00:26:30,650 --> 00:26:33,050
There is not my bank account balance, but

677
00:26:33,050 --> 00:26:35,550
it's something, you know, you still have a

678
00:26:35,550 --> 00:26:36,450
balance in there.

679
00:26:36,610 --> 00:26:39,790
I'm carrying a balance and, you know, keep,

680
00:26:39,930 --> 00:26:41,870
keep a hundred, a couple hundred bucks, you

681
00:26:41,870 --> 00:26:42,710
know, right on there.

682
00:26:43,070 --> 00:26:45,070
So why you wouldn't want that to be

683
00:26:45,070 --> 00:26:47,030
just foregone, you know?

684
00:26:47,790 --> 00:26:50,650
Um, you talked a little bit about, um,

685
00:26:51,390 --> 00:26:52,530
points as well.

686
00:26:52,610 --> 00:26:53,870
You know, I think that, you know, my,

687
00:26:53,950 --> 00:26:56,330
my wife loves travel and, you know, that

688
00:26:56,330 --> 00:26:58,250
resonated a little bit when you were talking

689
00:26:58,250 --> 00:27:02,330
about, uh, travel points and some of the

690
00:27:02,330 --> 00:27:05,610
kinds of, um, it can be big money.

691
00:27:05,730 --> 00:27:07,110
You know, a lot of people, I know

692
00:27:07,110 --> 00:27:09,830
many of my friends have like a million

693
00:27:09,830 --> 00:27:12,410
miles here and we had a great episode

694
00:27:12,410 --> 00:27:15,070
with, was it Colin Strout, the travel guy

695
00:27:15,070 --> 00:27:17,350
or whatever his nickname is.

696
00:27:17,610 --> 00:27:20,290
So, uh, that go see that on our

697
00:27:20,290 --> 00:27:22,770
past podcasts, past podcasts, if you're interested in

698
00:27:22,770 --> 00:27:23,610
that kind of topic.

699
00:27:23,610 --> 00:27:26,670
But this was an interesting take on, you

700
00:27:26,670 --> 00:27:29,350
know, what happens to all the value of

701
00:27:29,350 --> 00:27:33,710
those frequent flyer miles or, you know, your

702
00:27:33,710 --> 00:27:38,230
Marriott or Hilton points or whatever, or, um,

703
00:27:38,850 --> 00:27:41,290
you know, you're, you're just, or you're free

704
00:27:41,290 --> 00:27:43,370
or you're free coffee from Panera.

705
00:27:43,690 --> 00:27:45,010
Oh, that's a great example.

706
00:27:45,190 --> 00:27:45,350
Yeah.

707
00:27:45,430 --> 00:27:46,950
Like you're, yeah.

708
00:27:47,190 --> 00:27:49,210
Just like if you've been racking up those

709
00:27:49,210 --> 00:27:49,770
points.

710
00:27:50,990 --> 00:27:52,110
So what happens?

711
00:27:52,390 --> 00:27:53,050
They're just gone.

712
00:27:53,050 --> 00:27:53,270
No.

713
00:27:54,670 --> 00:27:55,510
Well, they're gone.

714
00:27:55,590 --> 00:27:58,530
If no one knows how to access them.

715
00:27:58,730 --> 00:27:58,830
Yeah.

716
00:27:59,370 --> 00:27:59,810
Right.

717
00:28:00,210 --> 00:28:02,450
Um, I did not tell this story, but

718
00:28:02,450 --> 00:28:04,570
I had, um, I learned the story of

719
00:28:04,570 --> 00:28:08,050
from a, um, estate attorney in Philadelphia who

720
00:28:08,050 --> 00:28:10,430
I consider to be one of the nation's

721
00:28:10,430 --> 00:28:12,410
leading experts in digital assets.

722
00:28:12,810 --> 00:28:14,590
Um, but she told me a story that

723
00:28:14,590 --> 00:28:16,730
I think it was in the late nineties.

724
00:28:17,410 --> 00:28:19,170
Um, oh my gosh, I can't remember his

725
00:28:19,170 --> 00:28:19,370
name.

726
00:28:19,370 --> 00:28:23,330
This is like some famous, um, writer, composer

727
00:28:23,330 --> 00:28:24,970
of, of, of music.

728
00:28:25,310 --> 00:28:29,310
Um, and they had document, like they had

729
00:28:29,310 --> 00:28:31,610
these digital files of a manuscript that they

730
00:28:31,610 --> 00:28:35,070
were working on of something and their will

731
00:28:35,070 --> 00:28:40,630
said, okay, Kate has my permission to go

732
00:28:40,630 --> 00:28:42,770
publish this right.

733
00:28:42,850 --> 00:28:44,830
As you know, as a, as a after

734
00:28:44,830 --> 00:28:48,330
loss of event, well, the files were password

735
00:28:48,330 --> 00:28:48,730
protected.

736
00:28:49,350 --> 00:28:54,210
And so the court authorized the executor to

737
00:28:54,210 --> 00:28:58,150
go hire hackers to try and get in.

738
00:28:58,450 --> 00:29:00,790
They, the hackers were not successful and they

739
00:29:00,790 --> 00:29:03,810
spent like six, they spent six figures trying

740
00:29:03,810 --> 00:29:07,830
to hack that to, to access the files

741
00:29:07,830 --> 00:29:10,570
because they, they, at that point estimated it

742
00:29:10,570 --> 00:29:11,930
was probably worth $20 million.

743
00:29:12,190 --> 00:29:14,470
So today's in today's dollars, that's probably like

744
00:29:14,470 --> 00:29:15,390
50, probably more.

745
00:29:15,630 --> 00:29:22,870
Um, and so just because the executor has

746
00:29:22,870 --> 00:29:28,210
been authorized in this digital age, the authorization

747
00:29:28,210 --> 00:29:32,690
is no longer, sometimes it's no longer sufficient.

748
00:29:33,150 --> 00:29:37,370
You've got to leave those access instructions behind.

749
00:29:37,530 --> 00:29:41,650
So those reward points, you know, Jeff, like

750
00:29:41,650 --> 00:29:43,190
you were saying, you know, people who have,

751
00:29:43,250 --> 00:29:45,510
you know, a million miles, you know, that

752
00:29:45,510 --> 00:29:46,570
that's real money.

753
00:29:47,030 --> 00:29:49,830
And I look at it as if, if

754
00:29:49,830 --> 00:29:54,990
the family knows how to access those, then

755
00:29:54,990 --> 00:29:59,210
they can transfer those points to other family

756
00:29:59,210 --> 00:30:01,070
members and then they can take a trip

757
00:30:01,070 --> 00:30:02,850
in their loved one's honor.

758
00:30:03,050 --> 00:30:05,990
I mean, what a gift that would be.

759
00:30:06,630 --> 00:30:06,730
Yeah.

760
00:30:06,890 --> 00:30:07,570
Great idea.

761
00:30:07,930 --> 00:30:08,130
Yeah.

762
00:30:08,130 --> 00:30:08,410
Nice.

763
00:30:09,030 --> 00:30:11,530
Well, we're just scratching the surface.

764
00:30:11,530 --> 00:30:13,610
You get the sense that there's a lot

765
00:30:13,610 --> 00:30:18,290
of, um, things that we tend to overlook

766
00:30:18,290 --> 00:30:21,430
and how we should deal with them is

767
00:30:21,430 --> 00:30:21,990
challenging.

768
00:30:22,130 --> 00:30:24,290
And when, if we're not proactive, when it

769
00:30:24,290 --> 00:30:27,570
comes to Facebook or Google or Apple or

770
00:30:27,570 --> 00:30:31,510
whatever, um, we might have problems that, that

771
00:30:31,510 --> 00:30:35,350
those content might be lost that you, that

772
00:30:35,350 --> 00:30:37,970
you intend to be accessible and retained.

773
00:30:37,970 --> 00:30:41,110
And, um, so there's things you need to

774
00:30:41,110 --> 00:30:43,390
do and some actions you need to take.

775
00:30:43,490 --> 00:30:45,630
I'm going to start with, you have a

776
00:30:45,630 --> 00:30:49,250
free download on your website, the digital wrangler

777
00:30:49,250 --> 00:30:52,470
.com, uh, tell everyone what they can get

778
00:30:52,470 --> 00:30:54,370
as a starting point just to help them

779
00:30:54,370 --> 00:30:56,270
get organized in this regard.

780
00:30:57,050 --> 00:30:57,150
Yeah.

781
00:30:57,230 --> 00:31:00,790
So I have a freebie called my estate

782
00:31:00,790 --> 00:31:02,010
and life organizer.

783
00:31:02,050 --> 00:31:04,250
It's just, it's a one pager, but it's

784
00:31:04,250 --> 00:31:07,490
just a simple way to get started.

785
00:31:07,970 --> 00:31:11,490
And it has prompts to indicate like, where

786
00:31:11,490 --> 00:31:13,490
are you saving your passwords?

787
00:31:14,410 --> 00:31:17,210
What bills are set up on auto pay?

788
00:31:17,430 --> 00:31:18,910
Cause the bills are certainly not going to

789
00:31:18,910 --> 00:31:19,710
be in your will.

790
00:31:20,810 --> 00:31:25,190
Um, what auto shipments do you have, um,

791
00:31:25,210 --> 00:31:26,050
set up?

792
00:31:26,110 --> 00:31:30,450
And then it also includes, um, some prompts

793
00:31:30,450 --> 00:31:32,390
with a, you know, just like a little

794
00:31:32,390 --> 00:31:36,530
check, check the box of what legal documents

795
00:31:36,530 --> 00:31:37,470
do you have?

796
00:31:37,970 --> 00:31:41,010
You know, do you have a medical directive

797
00:31:41,010 --> 00:31:43,430
or a healthcare proxy, et cetera?

798
00:31:43,610 --> 00:31:46,110
Because especially if you're having a medical emergency,

799
00:31:46,470 --> 00:31:49,730
your loved ones will need to produce that

800
00:31:49,730 --> 00:31:52,250
document relatively quickly.

801
00:31:52,850 --> 00:31:54,830
Um, and then there's also a section of

802
00:31:54,830 --> 00:31:56,710
like, who are your trusted advisors?

803
00:31:56,990 --> 00:31:58,470
Do you have a financial planner?

804
00:31:58,850 --> 00:32:00,670
Who is your estate attorney?

805
00:32:01,330 --> 00:32:04,530
Um, so it's just, uh, something simple to

806
00:32:04,530 --> 00:32:07,230
get you started and get you thinking about,

807
00:32:07,570 --> 00:32:12,690
wow, what information will my loved ones need

808
00:32:12,690 --> 00:32:15,490
to know when my time comes?

809
00:32:15,570 --> 00:32:17,190
Cause Jeff, you said it earlier, like we're,

810
00:32:17,210 --> 00:32:19,130
we're, we're all going to pass away.

811
00:32:19,310 --> 00:32:20,930
We just don't know when it's going to

812
00:32:20,930 --> 00:32:21,330
happen.

813
00:32:22,550 --> 00:32:23,030
Yeah.

814
00:32:23,130 --> 00:32:25,650
And whether it's with a pad of paper

815
00:32:25,650 --> 00:32:28,690
or a good program, which you did talk

816
00:32:28,690 --> 00:32:31,270
about during the webinar, people might want to

817
00:32:31,270 --> 00:32:33,590
check that out, but, um, you know, you

818
00:32:33,590 --> 00:32:35,730
need to get started with inventorying.

819
00:32:36,330 --> 00:32:39,110
Inventorying your, where you have these passwords, what

820
00:32:39,110 --> 00:32:39,530
they are.

821
00:32:41,030 --> 00:32:43,710
Inventorying, uh, the kind of devices you have

822
00:32:43,710 --> 00:32:45,930
and what, uh, you know, cause those might

823
00:32:45,930 --> 00:32:47,790
have details.

824
00:32:47,950 --> 00:32:50,390
People may want to retain those documents.

825
00:32:50,390 --> 00:32:51,690
Like you were talking about that.

826
00:32:51,910 --> 00:32:53,590
I don't know if everyone's worth $20 million,

827
00:32:53,830 --> 00:32:56,370
but you know, uh, but you still might

828
00:32:56,370 --> 00:32:56,990
have things there.

829
00:32:57,010 --> 00:32:59,070
You want that people may want to retain.

830
00:32:59,190 --> 00:32:59,470
Right.

831
00:32:59,590 --> 00:33:02,330
And, uh, you gotta start somewhere.

832
00:33:02,970 --> 00:33:04,330
Uh, this is a great place.

833
00:33:04,330 --> 00:33:06,510
That's a great resource to have a helpful

834
00:33:06,510 --> 00:33:08,890
tool to kind of identify some of the

835
00:33:08,890 --> 00:33:10,830
things to be thinking about.

836
00:33:11,010 --> 00:33:13,110
So, uh, go check that out.

837
00:33:13,470 --> 00:33:16,370
The digital wrangler.com is the website.

838
00:33:17,010 --> 00:33:19,190
Um, and if you need help in the

839
00:33:19,190 --> 00:33:22,470
process, Kate's, uh, that's her, her role.

840
00:33:22,570 --> 00:33:23,630
She's, she's your helper.

841
00:33:23,790 --> 00:33:25,110
You can hire her directly.

842
00:33:25,670 --> 00:33:27,630
And, um, I don't know, I was trying

843
00:33:27,630 --> 00:33:29,570
to, I'm still trying to find where I

844
00:33:29,570 --> 00:33:32,370
can add my, on my iPhone, somebody to,

845
00:33:32,370 --> 00:33:35,310
uh, be my, my, my be an added

846
00:33:35,310 --> 00:33:37,390
person who's eligible to that contact.

847
00:33:37,490 --> 00:33:38,770
I might be calling you Kate.

848
00:33:38,830 --> 00:33:39,830
Cause I might need the help.

849
00:33:40,290 --> 00:33:40,690
Yeah.

850
00:33:40,830 --> 00:33:42,090
Well, Chris, you can always go to my

851
00:33:42,090 --> 00:33:45,150
YouTube channel, which is the digital wrangler, and

852
00:33:45,150 --> 00:33:47,270
I've got some videos where I screen share,

853
00:33:47,270 --> 00:33:50,430
um, and, and walk you through, cause a

854
00:33:50,430 --> 00:33:53,510
lot of people are learners these days, right?

855
00:33:53,770 --> 00:33:56,490
So if you have an apple channel like

856
00:33:56,490 --> 00:33:58,090
that there, you can walk it.

857
00:33:58,150 --> 00:33:58,470
Pause.

858
00:33:58,530 --> 00:33:59,230
Let me get to that.

859
00:33:59,230 --> 00:33:59,790
Exactly.

860
00:34:00,790 --> 00:34:01,350
Exactly.

861
00:34:01,850 --> 00:34:02,170
Exactly.

862
00:34:02,530 --> 00:34:04,970
So for anyone listening who has an apple

863
00:34:04,970 --> 00:34:07,449
account or a Facebook account or a Google

864
00:34:07,449 --> 00:34:10,050
account, you can go to my, um, YouTube

865
00:34:10,050 --> 00:34:12,409
channel and look for those videos on how

866
00:34:12,409 --> 00:34:15,130
to designate the legacy contact for those.

867
00:34:15,690 --> 00:34:16,989
Great resources.

868
00:34:17,310 --> 00:34:20,070
Um, Kate, you're such a pleasure to make

869
00:34:20,070 --> 00:34:21,710
the time to thank you for being with

870
00:34:21,710 --> 00:34:21,909
us.

871
00:34:21,929 --> 00:34:23,590
Such a great guest.

872
00:34:23,650 --> 00:34:25,570
We love having you and hope we'll have

873
00:34:25,570 --> 00:34:26,610
you back again sometime.

874
00:34:26,610 --> 00:34:29,050
This is great content for people to be

875
00:34:29,050 --> 00:34:29,590
thinking about.

876
00:34:29,750 --> 00:34:31,969
Hope, hope everyone takes note and gets serious

877
00:34:31,969 --> 00:34:32,570
about it.

878
00:34:32,889 --> 00:34:33,510
I hope so too.

879
00:34:34,070 --> 00:34:34,409
Okay.

880
00:34:34,510 --> 00:34:35,210
Thanks everybody.

881
00:34:35,469 --> 00:34:37,250
If you need any help with, uh, any

882
00:34:37,250 --> 00:34:39,909
aspect of your own financial planning or portfolio

883
00:34:39,909 --> 00:34:41,409
management, that's why we're here.

884
00:34:41,570 --> 00:34:43,810
We're a resource to you in thinking about

885
00:34:43,810 --> 00:34:47,590
any aspect of your finances when it comes

886
00:34:47,590 --> 00:34:49,370
to trying to put it all together and

887
00:34:49,370 --> 00:34:52,530
integrate the whole process, don't hesitate to reach

888
00:34:52,530 --> 00:34:53,770
out to us if we can be a

889
00:34:53,770 --> 00:34:56,410
resource to you until next time, everybody keeps

890
00:34:56,410 --> 00:34:57,750
driving for something more.

891
00:34:59,090 --> 00:35:00,930
Thank you for listening to something more with

892
00:35:00,930 --> 00:35:01,630
Chris Boyd.

893
00:35:01,950 --> 00:35:04,110
Call us for help, whether it's for financial

894
00:35:04,110 --> 00:35:08,030
planning or portfolio management, insurance concerns, or those

895
00:35:08,030 --> 00:35:10,070
quality of life issues that make the money

896
00:35:10,070 --> 00:35:11,190
matters matter.

897
00:35:11,510 --> 00:35:13,690
Whatever's on your mind, visit us at something

898
00:35:13,690 --> 00:35:16,690
more with chrisboyd.com or call us toll

899
00:35:16,690 --> 00:35:21,670
free at 866-771-8901.

900
00:35:21,670 --> 00:35:25,550
Or send us your questions to amr-info

901
00:35:25,550 --> 00:35:27,490
at wealthenhancement.com.

902
00:35:27,910 --> 00:35:29,610
You're listening to something more with Chris Boyd,

903
00:35:29,650 --> 00:35:32,230
financial talk show, wealth enhancement, advisory services, and

904
00:35:32,230 --> 00:35:34,370
Jay Christopher Boyd provide investment advice on an

905
00:35:34,370 --> 00:35:36,930
individual basis to clients only proper advice depends

906
00:35:36,930 --> 00:35:38,710
on a complete analysis of all facts and

907
00:35:38,710 --> 00:35:39,290
circumstances.

908
00:35:39,610 --> 00:35:41,350
The information given on this program is general

909
00:35:41,350 --> 00:35:43,390
financial comments and cannot be relied upon as

910
00:35:43,390 --> 00:35:45,010
pertaining to your specific situation.

911
00:35:45,170 --> 00:35:47,150
Wealth enhancement group cannot guarantee that using the

912
00:35:47,150 --> 00:35:49,150
information from this show will generate profits or

913
00:35:49,150 --> 00:35:50,290
ensure freedom from loss.

914
00:35:50,290 --> 00:35:52,630
Listeners should consult their own financial advisors or

915
00:35:52,630 --> 00:35:54,730
conduct their own due diligence before making any

916
00:35:54,730 --> 00:35:55,490
financial decisions.