estate plan – Wealth on the Move

Hip Hop x Finance with author Drew Boyer (Episode 13)

By Wealth on the Move | February 13, 2025

Summary: In this episode of Wealth on the Move, host Will Hoffman interviews Drew Boyer, author of ‘Hip Hop X Finance.’ They discuss Drew’s journey from music to finance, the importance of financial education, and how hip-hop culture can influence financial literacy. Drew shares personal financial mistakes and lessons learned, while also addressing cultural misconceptions about hip hop. The conversation emphasizes the need for better financial education for future generations, using relatable stories from the music industry to teach valuable lessons about money management. In this engaging conversation, Drew Boyer and Will Hoffman explore the intersection of finance and hip-hop culture, emphasizing the importance of visual storytelling in financial education. They discuss the significance of estate planning, personal branding, and the entrepreneurial spirit, while also sharing personal anecdotes and insights on networking and growth mindset. The dialogue touches on non-financial life lessons, favorite hip hop influences, and the impact of financial literature, culminating in a discussion about finding purpose and the future of finance in a culturally integrated world.

Resources:

Takeaways:

Drew Boyer’s journey began with music and led to finance.
Financial education is crucial for young people.
Hip hop culture can teach valuable financial lessons.
Many artists face financial mismanagement despite their success.
Personal experiences shape our understanding of finance.
The struggle in business gives purpose and resilience.
Cultural misconceptions about hip hop persist.
Financial literacy is often lacking in education systems.
Drew aims to help others avoid his financial mistakes.
Music connects generations and influences financial perspectives. Visual appeal is crucial in financial education.
Creative storytelling can make finance more relatable.
Wills and estate planning are essential for asset protection.
Entrepreneurship is more accessible than ever.
Networking is key to success in any field.
Non-financial lessons are just as important as financial ones.
Hip hop culture can influence financial literacy.
Reading influential financial literature can provide valuable insights.
Understanding personal purpose can guide career choices.
The future of finance should embrace cultural integration.

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Navigating Estate Planning with Ashley Sharek (Episode 9)

By Wealth on the Move | January 16, 2025

Summary: In this episode of Wealth on the Move, host Will Hoffman interviews estate attorney Ashley Sharek, who discusses her innovative approach to estate planning. Ashley emphasizes the importance of follow-through in legal processes, the significance of comprehensive planning, and the unique challenges faced by families, especially those with minor children. The conversation also covers the complexities of domicile issues for snowbirds and the probate process, providing valuable insights for listeners seeking to navigate estate planning effectively. In this conversation, Ashley Sharek and Will Hoffman delve into the complexities of estate planning, focusing on the probate process and the advantages of utilizing trusts. They discuss the public nature of probate, the costs associated with it, and the importance of planning ahead to avoid potential pitfalls. The conversation also highlights the significance of community engagement through educational events that aim to demystify estate planning for the public.

Resources:

Takeaways:

Ashley Sharek emphasizes a heart-centered approach to estate planning.
Many law firms focus on transactional experiences rather than comprehensive planning.
Domicile determines where a person is considered a resident for legal purposes.
Probate can be avoided with proper planning, not just a will.
Flat fee structures can alleviate concerns about unexpected legal costs.
Follow-through is crucial for effective estate planning.
Families with minor children need a kids protection plan.
Medical directives and financial powers of attorney are essential documents.
Education is a key part of Ashley’s process with clients.
Regular reviews of estate plans are necessary to ensure they remain effective. A will only provides a roadmap for asset distribution through probate.
Probate can be a lengthy and costly process, often taking one to two years.
Many people have negative experiences with probate, leading them to seek alternatives.
Revocable trusts can help avoid probate and provide privacy for families.
Irrevocable trusts serve specific purposes, such as protecting assets from nursing home costs.
The costs of probate can range from 5% to 7% of the estate’s value.
Community events can provide valuable education on estate planning.
Planning for the future is essential, even if it seems unexciting.
Understanding the differences between revocable and irrevocable trusts is crucial.
It’s important to seek professional advice when considering estate planning options.

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