Passing down generational wealth is extremely important. The best way to make sure that wealth is passed down for generations to come is through proper estate planning. Art Steele, Estate Planner and the podcaster behind The Legalese for Entrepreneurs Podcast, has an incredible story about how she came to choose her career and the epiphany that caused her to realize the significance of creating generational wealth within the black community.
In this episode, we talk about:
- Understanding the racial wealth gap
- Why personal behavior cannot close the racial wealth gap
- The significance of estate planning in the black community (and all communities)
- How considering the “value of your life” helps with planning your estate
- What having an estate plan involves
- The legal documents required to make decisions for end of life care
- The roles of a financial planner and an estate planner
- The importance of leaving behind a will
- How proper estate planning can benefit generations beyond your children
- The significance of a trust with inheritance for children
- How hiring an attorney for estate planning can save you money in the long run
Other related blog posts/links mentioned in this episode:
- The article about the racial wealth gap
- Art’s Free Estate Planning Workbook
- Art’s Email Legal-Ease Course
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- Leave me a voicemail– Leave me a question on the Journey To Launch voicemail and have it answered on the podcast!
- Watch me on News12 Watch my latest segments on News12
- My One on One Money Coaching Services – Get my personalized 1on1 money coaching expertise to help you reach your financial goals
- YNAB – Start managing your money and budgeting so that you can reach your financial dreams. Sign up for a free 2 month trial of YNAB, my go-to budgeting app by using my referral link.
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