5 Essential Estate Plan Documents you shouldn't live without Artwork

Invest in Knowledge

Invest in Knowledge is a monthly podcast about all things financial with CERTIFIED FINANCIAL PLANNER™ John Gigliello of the Albany Financial Group, based in Albany, NY. Through the course of his business, as well as this podcast, John takes an educational approach to financial planning, aiming to leave listeners with the insight they need to successfully shape their financial futures. After all, as Benjamin Franklin said, "An investment in knowledge always pays the best interest." Securities are offered through LPL Financial, member SIPC (www.SIPC.org). Investment advice is offered through Private Advisor Group, a registered investment advisor. Private Advisor Group ad Albany Financial Group are separate entities from LPL Financial. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. The economic forecasts set forth in this material may not develop as predicted and there can be no guarantee that strategies promoted will be successful. This is a hypothetical example and is not representative of any specific situation. Your results will vary.The hypothetical rates of return used do not reflect the deduction of fees and charges inherent to investing.

All Episodes

Invest in Knowledge

5 Essential Estate Plan Documents you shouldn't live without

April 09, 2024 • John Gigliello, CFP® • Season 2 • Episode 5

Picture this: Your wife or partner and you are driving along one day, rushing about to tackle the numerous errands you have planned for the busy morning. Back home, your two daughters are working to finalize their plans for a birthday party for their favorite uncle. Your errands take you all over town, and the Saturday morning traffic is starting to build. And then suddenly, in the blink of an eye, your car is struck in the passenger side, t-boned at a busy intersection. It all happens so fast; you have no time to think or react. You feel pain throughout your body, and you manage to look over into the passenger seat. Your wife is bleeding and not moving. The last thing you remember before you pass out is the distant sound of an ambulance siren.

Your daughters arrive at the local hospital and are ushered quickly to the emergency room. They find you in a condition that no one ever wants to see. The doctors explain to your daughters the severity of your conditions and that some difficult decisions will have to be made regarding treatment. He then asks, “Who has the authority to make medical decisions on behalf of your parents?” The girls look at each other, confused, and ask the doctor, “What do you mean; what are you talking about?” The doctor tells your daughters that there is a chance that your wife and you may never resume consciousness and that someone will have to make medical decisions on your behalf. “Do your parents have a health care POA or a living will?” the doctor asks. The daughters respond that they have “no idea” and have never heard of these types of documents. In a heightened state of emotion, the girls look at each other and ask, “What do we do now?”
Hi, I am John Gigliello, CERTIFIED FINANCIAL PLANNER™ with the Albany Financial Group and you are listening to Invest in Knowledge, a podcast about all things financial. After a life-altering health issue at age 39, my calling in life became clear: To share my knowledge of personal finance with people who are looking to make smart and responsible choices with their money. Only through education, action and accountability can you build the confidence and security you need to live a satisfying life.
Today, I am going to talk about the 5 Essential Documents of a Complete Estate Plan.