Host John Chapman of the John Chapman Show talks with Morgan Smith, Financial Advisor at WorthPointe Wealth Management. Morgan joins John in a valuable discussion about how to take care of elderly parents, settling their financial affairs and their estate, and how to take a proactive approach. 

 

Episode Highlights:
How did Morgan Smith come about becoming a financial advisor? 
What has Morgan Smith gone through in his life in the last 5-10 years? 
How old was Morgan’s dad when he developed dementia? 
What did Morgan’s estate look like prior to his dad’s health issues? 
At what point did Morgan have to get more involved in his parent’s estate?  
What are some of the things involved in settling a parent’s estate?  
What is the role of a private fiduciary or a corporate trustee? 
What is the emotional connection generally like to financial assets?  
Morgan Smith provides resources for estate planning.
Get the courage to have the family meeting about estate planning. 

 

3 Key Points:
Figure out who is in charge of a parent’s estate. 
Private fiduciaries can file tax returns, gather investment statements, and assign investments over. 
Many people build assets that are difficult to divide such as a business or real estate. 

 

Tweetable Quotes:
“If you do good work, that niche comes to you and it can develop naturally.” – Morgan Smith
“It’s one thing to have the trust in place. But you really got to understand and have access to things like durable power of attorney for healthcare directives.” – Morgan Smith
(Preparing for parental decline in health) “Probably the best support is maybe reading a book. Talking to other people that have been through it, which is exactly why I am doing what I am doing.” – Morgan Smith

 

Resources Mentioned:
Linkedin: John Chapman
Morgan Smith: Linkedin
Worthpointeinvest.com

Host John Chapman of the John Chapman Show talks with Morgan Smith, Financial Advisor at WorthPointe Wealth Management. Morgan joins John in a valuable discussion about how to take care of elderly parents, settling their financial affairs and their estate, and how to take a proactive approach.&nbsp;
&nbsp;
Episode Highlights:
<ul>
<li>How did Morgan Smith come about becoming a financial advisor?&nbsp;</li>
<li>What has Morgan Smith gone through in his life in the last 5-10 years?&nbsp;</li>
<li>How old was Morgan&rsquo;s dad when he developed dementia?&nbsp;</li>
<li>What did Morgan&rsquo;s estate look like prior to his dad&rsquo;s health issues?&nbsp;</li>
<li>At what point did Morgan have to get more involved in his parent&rsquo;s estate?&nbsp;&nbsp;</li>
<li>What are some of the things involved in settling a parent&rsquo;s estate?&nbsp;&nbsp;</li>
<li>What is the role of a private fiduciary or a corporate trustee?&nbsp;</li>
<li>What is the emotional connection generally like to financial assets?&nbsp;&nbsp;</li>
<li>Morgan Smith provides resources for estate planning.</li>
<li>Get the courage to have the family meeting about estate planning.&nbsp;</li>
</ul>
&nbsp;
3 Key Points:
<ol>
<li>Figure out who is in charge of a parent&rsquo;s estate.&nbsp;</li>
<li>Private fiduciaries can file tax returns, gather investment statements, and assign investments over.&nbsp;</li>
<li>Many people build assets that are difficult to divide such as a business or real estate.&nbsp;</li>
</ol>
&nbsp;
Tweetable Quotes:
<ul>
<li>&ldquo;If you do good work, that niche comes to you and it can develop naturally.&rdquo; &ndash; Morgan Smith</li>
<li>&ldquo;It&rsquo;s one thing to have the trust in place. But you really got to understand and have access to things like durable power of attorney for healthcare directives.&rdquo; &ndash; Morgan Smith</li>
<li>(Preparing for parental decline in health) &ldquo;Probably the best support is maybe reading a book. Talking to other people that have been through it, which is exactly why I am doing what I am doing.&rdquo; &ndash; Morgan Smith</li>
</ul>
&nbsp;
Resources Mentioned:
<ul>
<li>Linkedin:<a href="https://www.linkedin.com/in/johnchapmannewportbeach/"> John Chapman</a></li>
<li>Morgan Smith: <a href="https://www.linkedin.com/in/morgansmithwealthadvisor/">Linkedin</a></li>
<li><a href="https://www.worthpointeinvest.com/">Worthpointeinvest.com</a></li>
</ul>
<ul></ul>

The John Chapman Show is your source for retirement strategies to help you better manage your time and money. Pre-retirees face some major headwinds: ultra low interest rates, high stock valuations, increasing healthcare costs and longevity, and the ever changing tax and estate laws. If you're planning to retire within the next 10 years, are you on track to attain financial independence? Host, John Chapman, is a CFP® and Partner at WorthPointe, a boutique wealth management firm helping clients get the most from life with the money they do have. For more information, you can check out www.thejohnchapmanshow.com. 

The John Chapman Show is your source for retirement strategies to help you better manage your time and money. Pre-retirees face some major headwinds: ultra low interest rates, high stock valuations, increasing healthcare costs and longevity, and the ever changing tax and estate laws. If you're planning to retire within the next 10 years, are you on track to attain financial independence? Host, John Chapman, is a CFP&reg; and Partner at WorthPointe, a boutique wealth management firm helping clients get the most from life with the money they do have. For more information, you can check out <a href="http://www.thejohnchapmanshow.com">www.thejohnchapmanshow.com</a>.&nbsp;

The John Chapman Show Podcast

Planning to retire in the next 5-10 years? Want to ensure you are retirement ready? 

The John Chapman Show is your source for retirement strategies to help you better manage your investing, tax, insurance and estate planning.  

Pre-retirees biggest risks lie in not just investing the wealth they’ve built, but also in maintaining an up to date and secure financial plan as life changes. 

As you make the final push in your working career, be sure to stay on track with your financial plan so that ultimately you get the MOST from life with the money you do have. 

Host, John Chapman, is a CFP® and Partner at WorthPointe, a boutique wealth management firm helping clients gain financial peace of mind.

Planning to retire in the next 5-10 years? Want to ensure you are retirement ready?&nbsp;
The John Chapman Show is your source for retirement strategies to help you better manage your investing, tax, insurance and estate planning.&nbsp;&nbsp;
Pre-retirees biggest risks lie in not just investing the wealth they&rsquo;ve built, but also in maintaining an up to date and secure financial plan as life changes.&nbsp;
As you make the final push in your working career, be sure to stay on track with your financial plan so that ultimately you get the MOST from life with the money you do have.&nbsp;
Host, John Chapman, is a CFP&reg; and Partner at WorthPointe, a boutique wealth management firm helping clients gain financial peace of mind.

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