Brian Price and Jennifer Gligoric are the founders of Leafy Legal Services and hosts on Leafy Podcast. This dynamic duo has been helping entrepreneurs for the last 20+ years individually, and together for the past 8 years. Both Brian and Jennifer have harrowing backstories. Brian ‘lost his shirt’ in the 2008 recession, filing bankruptcy before climbing back out and into success. Jennifer found herself homeless as a teenager and managed to put herself through college and become a successful business owner despite the odds against her.

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Resources

Free Estate Planning Checklist – Download Brian and Jennifer’s free Estate Planning Checklist!

Leafy Assets – Asset Protection for Real Estate Investors & Entrepreneurs

3 Value Bombs

1) It’s better to have an Estate Plan versus just a Last Will

2) Understand what’s available to you before it’s too late

3) The process of Estate Planning is simply anticipating and arranging, and when you do it properly you’ll gain peace of mind

Show Notes

**Click the time stamp to jump directly to that point in the episode.

Today’s Audio MASTERCLASS: End of the Year Estate Planning for Entrepreneurs with Brian Price and Jennifer Gligoric

[1:33]– Brian and Jennifer share something interesting about themselves that most people do not know.

Brian has a 2^nd degree black belt in karate and has been practicing martial arts for about 10 years.
Jennifer was a drum major and she can play all woodwind instruments and all melodic percussion.

[2:43] – Jennifer differentiates between a Final Will and Testament and an Estate Plan

A Will is not like a full Estate Plan. An Estate Plan is more comprehensive and usually involves a Trust.
The idea of an Estate Plan is to avoid probate.
It is better to have an Estate Plan rather than just a Will.

[9:44] – What is probate, and how does one avoid it?

Probate is when there is no allocation of assets when someone passes away; allocation is done by the Government on their own timeline.
You can avoid probate by having a Will or having an Affidavit of Heirship.

[14:43] – Jennifer talks about having a Pour Over Will

You can use a Pour Over Will within an Estate Plan; it is a powerful tool because it is created with a Trust.
A Pour Over Will can catch the properties that may not have been named; it will automatically go to the Trustee of the Trust to avoid probate.

[16:01] – A timeout to thank our sponsors, ZipRecruiter and ClickFunnels!

[16:04] – Jennifer talks about beneficiary nightmares and why you cannot forget your Estate Plan when you have life changes

A beneficiary is the person who gets whatever assets you own after you pass.
Have an outline and update your Will or your Estate Plan, otherwise it can turn into a nightmare.
Be protected. Protect yourself and your assets and have a reliable Trustee.

[24:08] – Why coordinating your trusts and retirement plans are crucial to avoid accelerated taxes.

It depends on the setup of your structures and the type of trust and retirement plan you have

[27:24] – Brian’s parting piece of guidance

Understand what is available to you before something happens sooner than you think it will
It is better to settle your Estate plan now
The process of Estate Planning is simply anticipating and arranging, and when you do it properly you will have less stress.

[30:08] – Call to Action for Fire Nation!

Free Estate Planning Checklist – Download Brian and Jennifer’s free Estate Planning Checklist!
Leafy Assets – Asset Protection for Real Estate Investors & Entrepreneurs