Latest / The Jon Sanchez Show / Why You Don't Have To Be Wealthy To Need An Estate Plan
Transcript
- Jon G. Sanchez: Good Wednesday afternoon to you. Welcome to the John Sanchez show on News Talk 780K which pleasure to be with you, and I hope you are having a great hump day. Hotter in heck out there though, isn't it? goodness, my goodness. All let me tell you what I have lined up for you today. It's gonna be a relatively short stock market recap position here. it's kind of just more of the same. We're we're we're in a good spot by all means. But as I said yesterday, kind of give you ⁓ you know, as I like to call it, the ⁓ the warning shots across the bow a little bit. Market show is starting to show a few signs of getting a little bit tired, especially on the NASDAQ side of things. So that's what I'd mentioned yesterday. indeed that did happen today. we find ourselves in a situation where any little of bad news, and then we'll it as a profit taking excuse. Nothing wrong with that, especially the way this market has run up. You realize, and this was as of this morning, I didn't get a chance to calculate it after the ⁓ after the close. But do you realize over the last ⁓ seven days, Nasdaq's up? Around nine percent. Again, that was before today's, you know, slight decline here. SP in the Dow up about six percent over the last seven days. Been a heck of a run. Remember, historically the SP returns, including dividends, about 10% a year. So to get six percent in one week, profit taking should be expected. Don't think this thing is just gonna continue to run forever and ever. It it it just can't happen. I'll go through what happened today. Like I said, not an exciting day. No news on the potential ⁓ ceasefire talks, oil prices were relatively tame, had a small loss there. But ⁓ was the ⁓ the problem spot. So anyways, we'll go through that. Let me tell you what I have lined up after I get to the stock market side of use ⁓ of the ⁓ of the program. It's Wednesday. I bring to you a real excuse me a ⁓ estate planning topic on a Wednesday. And I've titled today's Why You Don't Have to Be Wealthy to Have an Estate Plan. Why You Don't Have to Be Wealthy to Have an Estate Plan. You know, probably one of the most common questions I receive ⁓ John, I know the importance of having an estate plan, the revocable trust that, you know, specialized trusts can do, and so on, so forth, the entire estate plan. But you know, I don't think I have enough wealth. I'm not a millionaire. I don't I don't really need that. Well, I'll give you kind of the textbook answer. So, you know, if I had a room full of estate planning attorneys, I'd say the consensus ⁓ if you have assets greater than twenty five thousand, you need a a revocable living trust. You need the estate plan, right? But I take it a little bit step further. frankly, you know, most that have any concern about protecting their estate and their family are going to have more than 25,000. So that's, you know, really never an issue. But many people believe, again, that you've got to be a multi millionaire to have a living trust. Well, the truth is this, ⁓ and lot of people don't realize it, and that's why I want to talk about this with you today. If you a home, if you have children, Or you simply want your wishes honored. Not the court's wishes, but your wishes. You may already have everything that you need to benefit from an estate plan. today I'm going to discuss why estate planning isn't about how much money you have, but more importantly, and I'm going to hit on this point a lot today. It's about protecting the people that you ⁓ Think about that for a second. It's not about the money, it's about protecting people. The people you love. So I'm going to go through all the reasons that probably the vast majority of you need an estate plan. It's really that simple. speaking of which, hey, I'm going to use this as a segue. You every other ⁓ Wednesday, I hold an educational webinar for you so you can learn about this crazy world called estate planning. Well, we our next one lined up ⁓ next Wednesday, of course is going to be August the 12th. ⁓ The title the educational webinar is called The steps, the step, excuse me, most families miss. The step most families miss, and that is trust funding. That's right. That is the most common one. So going to talk about what is trust funding, why people have a misconception that they think, ⁓ I create a living trust and I'm done. And what up happening? They don't fund it, meaning they don't get the assets moved in. And now here comes the surprise for the family when they pass away. I want to make sure that never ever happens to any of you. once again, it'll be at 6 p.m. next all free, of course. It's all about education. Just go my website. We've made it a little bit easier for you to I didn't like the way we had it before, so I had the programmers do a little change. Just go to our ⁓ our website, specialized trust.com, specialized trusts with an s dot com, and right on the homepage. Click to register. That's simple. Can't beat that. Love to see all of you there by all means. So again, that'll be next Wednesday. ⁓ 6 p.m. I'll be giving you a lot of reminders between now and next Wednesday. But ⁓ get signed up as soon as you can. Again, trust funding, the step most families miss. Okay, so let's get down to the stock market. Then we're going to come back to the estate planning side of things. Well, you know, it's been, as I said, a very powerful four-session that we have seen in the market. I mean, yesterday you know, north of day before was north of 500. Today was 263-point gain on the Dow. So again, it just As I keep saying, each and every day. I don't know, I know no other way to explain it. It is mind boggling. You know, I feel bad if any of you are brand new to the market and you think this is the norm, because like I said, we find ourselves in a situation where just in a period of a short week, it's, you know, almost a normal year. But there's no such thing as normal anymore. Not by any means. But we took a little bit of breather, like I said, on the Nasdaq side of things today. We had a problem on the NASDAQ side ⁓ with Google. That was really one of the catalysts there. Now, stock has again been on an extreme up tear, but today give a little bit back, down four point zero five percent, fifteen dollar and twenty-two cent loss to three sixty thirteen. The stock under pressure after the Wall Street Journal ⁓ reported that their Google as a ⁓ chief strategist, excuse me, not strategist, I'm used to saying strategist for Wall Street, chief scientist and AI strategy leader. That's what I meant to say. His name is Jeff Dean. He said he's gonna leave the company to launch a startup focused on scientific discovery. obviously a key executive, it appears in Wall Street's eyes, so they pressured the stock. That made the communications sector finish down about 2.4%. SpaceX. How can we go a day without talking about SpaceX? Remember, IPO was priced at 135, opened ⁓ where'd we open 150 and went up from there and Gave us a couple nice days of gains, and it's just been a slow, steady descent down. Tay was no different. A lot of pressure on the stock today. SpaceX lost 13.61%, $17.6 lost to $108.27. Again, on the earnings call, they said they plan to enter the wireless market. Now, this was on top of, and then remember the analyst call or earnings call was yesterday. This is on top of their capital expenditure, BMI, AI, data centers, et cetera, being more than what the street thought it was going to be. Just typical scenario that we're seeing there. We had a little bit of weakness in Amazon today, down $4.77, 1.72% loss, at $272.65. Tesla, ⁓ $5.80 loss, down one and three quarters to $3.21.55. so some of the profit taking ⁓ I was talking about yesterday. Chip yeah, they weren't our friend today. Pull back AMD down ⁓ about $36.53. Nvidia ⁓ bucked the trend though, up seven dollars and twenty-eight cents to two nineteen twenty-two, three point four three percent gain. ⁓ ⁓ let's see, Sand disk ⁓ back to the ⁓ memory space ⁓ down 77.12, 5.4% lost western digital down about $29.39, a 5.36% decline. we did have an incredible day, as I'll share with you when we come back in gold prices, tell you what we did. And boy, did we have a nice move in our friends ⁓ you know ⁓ to the east, Newmont Corporation and Barwick, but Newmont specifically finished day with a gain of six dollars and fifty-four cents, six point six nine percent gain. It was the best performing stock in the SP 500. Closing level of Newmont, 104.27. let's see. Over to the healthcare sector, group did pretty good, up 1.3%. Lily was a star performer there, up $53.09, 4.3 quarter percent gain to $1,168.77. Amgen, a $17.80 rise there, 4.57% to $407.83. both of those companies reported much, much stronger than expected earnings reports. So that was the catalyst there. Let's go ahead and move it on over to the commodity side. I'll get that out of the way. ⁓ I said, very quiet day on oil, no major news coming out of the negotiation front. So they drifted a bit lower. We had periods where the oil was up slightly, but finished down slightly, 55 cent loss at 7518 a barrel. Gold, like I said, $153.10 rise, very strong, $4,305 an ounce, and down one basis point on the 10-year treasury to a close there of 4.62%. Now, after the ⁓ incredible run-up, where do we sit? I always like to keep you up to date on this on a year-to-date basis. Here's your numbers. For the year, the Dow's already up thirteen point one percent, higher by twelve point eight percent, NASDAQ rising thirteen point four percent, and still our top performing sector or ⁓ average as it has been throughout most of the year. The Russell 2000, the small caps with a twenty one point seven percent year-to-date gain. So, like I said, overall looking good, very quiet. Little pause here. Don't be surprised if, you know, again, we get a couple days for you know for the rest of the week pausing unless some, you know, incredible earnings numbers come out, which can always happen. haven't had a chance to see what the earnings calendar is for tomorrow, but ⁓ you never know. But overall, everything is still solid. Everything is still based upon earnings numbers and of course what happens in the negotiations with Iran. All With that said, I'll tell come back, tell you where the market finished, and then we're gonna get into our topic. Why you don't have to be wealthy to have an estate plan? Welcome back to the John Sanchez show on News Talk 780K, which happy Wednesday to all of you. Here's how we finished up a record-setting day for the Dow, but that was it. No no other averages participated. Finished with a gain of 263 on the Dow, point four nine percent to a close of fifty-four thousand three forty-nine. lost two hundred and twenty-two points on the NASDAQ, point eight three percent, closing at twenty-six thousand three sixty-three, ⁓ the SP 500 lower by thirteen points at a close of seven, seven two three. Seven thousand seven twenty-three. Once again, oil down fifty-five cents. 7518 a barrel, but a good day for gold, $153.10 rise to $4,305 per All you're up to date. Let's get down to our topic today. Why you don't have to be wealthy to have an estate plan, right? Again, very, very common misconception. So, again, one of the most common things that I hear from people is this which is why I'm doing it with you today. They say, John, you know, I'm not wealthy enough. I to need a trust. Again, people think you got to have millions of dollars. Not the case whatsoever. And my response is always very simple. That's what I want to tell you what it is. I tell them look at estate planning isn't about protecting wealth. And yeah, in a roundabout way it is. But to me, it is not the number one reason that someone invests into an estate plan. Estate planning is about protecting the people that you love your spouse, your children, your grandchildren. Then we get into the assets, your homes, your investment accounts, businesses, so on and so forth. And also about your wishes, about your legacy. And if you look at it that way, that it's about protecting the people you love, else will fall into play. But the minute you say, again, I need a million dollars before it's worth it, no, you don't. No, you don't. I'm dealing with a situation right now where literally a bank will not release a $149 account. For one of my dear clients, whose wife passed away. And theoretically, it has to go to probate unless they were trying to do a few other things for him. But that's where it is. The account was in the wife's name only. Unfortunately, she passed away, bless her heart. ⁓ he's trying to disclose out the account. Again, it's 149 bucks. But that's where it is. Imagine if he had a few zeros after that $149. Imagine that whole scenario going to probate. Again, I'm not going to discuss the of that, but y'all know what it is. So With that, with that said, that's what I want you to keep in mind. Everybody needs an estate plan if you have loved ones. The money side comes second. So today I'm going to discuss with you why estate planning again is one of the most important things that a family can do, regardless of the size of their balance sheet. So here we go. you own a home. You already have something worth protecting, right? As I always say, it's probably your number one or your number two asset on your balance sheet. Again, do you want the courts to determine what happens to your home? Do you want your kids have to pay the mortgage payment and the utilities and the property taxes because they can't access the bank account, they can't sell the house, they can't do anything until, of course, the probate judge says that they can. Which again, we ⁓ know that that runs, you know, it can be months on the best side. ⁓ I just talked to two people yesterday it was, both of them the same day. And they're being quoted nine months in Washoe County probate court to get their cases heard. Not saying there's not some paperwork done in the meantime, but to get in front of a judge. Nine months. Everything's frozen. But also many of you, of course, have vacation homes or rental properties. Whole nother ballgame there. And I want to throw in in this home because for some reason, again, people automatically think, and again, which is correct. Again, if you have a joint tenant rights of survivorship titling on your home, so it's you and your spouse typically, you're fine. Yeah, you don't you don't need an estate plan for that. But again, you and let's say you're the man, you die first. And then the house, of course, becomes your wife's. But what about if you have blended family? Right? What if she's your second, third, fourth, fifth wife? Is she the one that you want to have the to get all the money? Maybe, maybe not. So again, I can go down an entire path on that side of it, but you get the my you get my point. a large asset, lots value there, hopefully lots of equity, and it needs to be taken care of properly. The vacation home, like I said, well, then we get into a whole other issues there. But same principle as your primary. Big asset. What if you own family heirlooms? Right? I see it all the time. Moms usually want the daughters, if there are some, or the granddaughters inherit the family jewelry, right? That's maybe been passed down from generations, or the China. So we'll just call it the heirlooms. What about, of course, things that men have, right? Guns, fishing rods, all kinds of fun stuff. Same thing. W who's gonna get it? No one knows if you don't have an estate plan. The bank accounts, obviously that it goes without saying. So what you have to ask yourself is this would you want these assets transferred according to your wishes or according or excuse me, or according to Nevada state law or California state law. Comes down to that. It's really that simple. Who do you want to determine where your assets go to? Now, the next reason that the size of your balance sheet doesn't matter is this nasty I word. No, I usually say nasty I word and I talk about inflation, but not in estate planning. When I say the nasty I word, in capacity. remember, I should probably pause right here. Remember when we talk about ⁓ estate plan? It's not just a revocable trust. That's one of four major components. So in the estate plans that we create, and most attorneys would create. You have four major components. It's the foundation, your revocable trust, your pour over will, your advanced directive, which is your basically your financial power of attorney, and then your medical directive. Those are the four documents. Let me repeat that. Revocable trust, pour over will, financial or advanced directive, which is the financial power of attorney, and the medical directive. Those are your four basic documents. Okay. People think, ⁓ I just have the revocable trust. No, you also ⁓ the great thing about an estate plan. It's not just about your death, it's about in. capacity. So many people, you know, when we talk about estate planning, are thinking about death. We had this discussion yesterday, my son did, with a ⁓ with a client, and the came to an abrupt halt because they did not want to talk about death. Well nobody does, of course, but it's a reality. But we emphasize to this client, look at it's not just about death. That's that's one of them. You what happens with your assets after you're gone? It's about the incapacity. And I'm sure the vast majority of you, especially if you got a few gray hairs in your head, have dealt with this in some form or fashion with your parents, your grandparents, friends, relatives, whatever the case is. And in many cases, the incapacity is far more stressful. I hate to say this, than losing someone. You know, and I'm talking losing someone. You know, due to old age or that type of thing, right? You kind of see that one coming. But incapacity, boy, that can happen at any time, right? Heart attack, stroke, car accident, whatever the case may be. when I'm gonna come back, I'm gonna talk about estate planning and the importance of it when it comes to incapacity. My theme, why you don't have to be wealthy to need an estate plan. Welcome back to the John Sanchez Show on New Stock 780 KOH. Once again, a fairly lackluster day. Record setting on the Dow side, finished up 263, but the NASDAQ lost 222 and the SP negative 13. right, let's get back to the ⁓ estate planning topic of the day. again, try to bring one of these to you each and every Wednesday to further your knowledge in this area. Again, my title Why don't what or why you don't have to be wealthy to need an estate plan? So let me recap I've told you ⁓ real quickly. Number one, remember estate planning isn't about the money. It's About the loved ones in your life. Okay. Number two, if you own a home, that is one reason right there in and of itself that you need an estate plan. I I had a a friend tell me, he's ⁓ yesterday's a very eventful day. she got call from a ⁓ mortgage broker east. ⁓ I think, well, not really back east, but I think it was in Texas, and was inquiring about our services and things. And this mortgage broker said, She fields about 10 questions or 10 requests for referrals a week of new home buyers realizing that they need an estate plan. Thought that was mind-boggling. And Dwight's kind of told me the same thing. glad lot of people are thinking about it, but a lot of people aren't. Now, hopefully after today's segment, you will be. So if you own a home, absolutely one reason, vacation home, et cetera, the family heirlooms. I went through all that. I left with the third reason. Because estate planning is also About the nasty I-word, incapacity. Because again, when you mention estate planning, most people think, ⁓ it's just, you know, what's gonna happen after I'm gone? Who's gonna get my money and so on and so forth? But we want you around and things happen while you're still alive that can impact your estate. What happens if you suffer from a stroke? You been around somebody that has a stroke? Just picking on that? It's a tragic, tragic situation. They can't talk. Sometimes they lose their mental capacity. Bottom line, they can't make financial decisions. What about if you got into a car accident? Or what about if you develop, as my mom passed away from years ago, dementia? Who's going to pay your bills? Who's going to talk to the doctors on your behalf? How are the doctors going to know what your medical wishes are? I wanna be on life support. I don't. I want hydration. I don't. I want fluids. I don't. You should see all the questions that we have to ask. Who's gonna make the financial decisions for you? Cause I'll I'll give you the real life. You know, we manage a pr pretty considerable sum of money. If you have a taxable account, and let's just say you know, you're by yourself. And you think you're say you have a son, you think he's gonna handle everything, but you didn't do an estate plan. He cannot call us up and say, Hey, you know, dad just had a stroke I need you to ⁓ sell off twenty thousand dollars of his investments. Can't do it. It's illegal. ⁓ dad needs, you know, five thousand dollars to, you know, carry him forward for the next week. Sorry, can't do it. That account's frozen. We can't do anything. But if there is a trust, obviously you're gonna name an agent for your advanced directive, which is again the financial power of attorney. Now we can follow those instructions. Listen to the son if he's chosen to be that person. So So many estate plans used during the incapacity period of our life, then death. It's a very, very common fact, but one that many people forget. Fourth I'm gonna talk to you parents. I've mentioned this before, but I want to bring it to the table again. Without an estate plan, you have to ask yourself this question. And again, notice we're not talking money here. Who is going to raise your children if something happens to you and your w your spouse? Who's going to raise the kids? Who's going to manage their inheritance? Kids can't inherit, minors can't inherit money. Someone has to do it. You're going to leave it up to the court to determine, your, you know, brother Bobby's the one that's going to take over the money, or maybe Bobby's a flake and the court doesn't know that. Maybe it should have been your sister Cindy. Court's not going to know that, but with an estate plan, it will. But who is going to raise your children? Who's going to financially support them? How are the financial decisions going to be made? And this is why we have our young adult package, because again, many people, and and we all know, of course, the divorce rate in this country over 50%. So blended families, blended young families, you got minor children. That in and of itself, in and of itself, is a reason to have an estate plan. Forget about the medical directive, the ⁓ ⁓ healthcare, all the other things. You got little babies, and they're all babies in my mind until they're about twenty five years old. You got babies you got to worry about. gonna raise them, how they're gonna be raised, so on and so forth. That's the one that hits home, doesn't it? Another reason, talking about babies, are young adults in our life. Remember, folks, at age eighteen, mom and dad can no longer make any financial or medical decisions for your babies. as your child hits eighteen, mom and dad are out of picture. No decisions, no medical So what's a young adult to do? But they don't theoretically, you know, unless they have a you know big inheritance that they've already received or something, theoretically they probably don't have much money at all. None of us did at that age. But guess what? They're all prone to get into accidents. happen to them just like they do anybody else. Age not a discrimination when it comes to incapacity and things happening. So that's why we have our young adult package. I think it's what, 450 bucks, I think it is. We create the will. Healthcare directive, the the financial power of attorney, the hip authorization, the emergency contacts, etc. And I tell you, if you are a parent and you know, you for whatever reason disagree with what I'm saying, or and you're like, Yeah, you know what, I'll I'll deal with it later. I'll deal with my own personal estate plan later. Or if you're a grandparent and you're saying the same thing, take care of your children or your grandchildren. Get them taken care of. Make sure they have the healthcare, the financial, the medical, the HIPAA, everything there. Make sure they have it all. Because we never know, especially young boys, right? crazy we all are at 18, 19, 20 years old. We're we're we're indestructible. Nothing will ever happen to us. Well, we know that it's not true. So even a young adult in your life, get it for them for their birthday. Get it for them for their Christmas. ⁓ If need a reason. I don't think you need a reason if you love ⁓ But man ⁓ man, just gotta get that done. My sixth reason, notice we're not talking about money. Estate planning reduces stress. Because when families know exactly what you want, there's no certainty. There's no conflict. There's no delays. There's no arguments. There's none of that. Well, I shouldn't say there's none. Sometimes it happens, but that's why most trusts have a no contest provision. Ours do. You can test your your inheritance, out. That stops a lot of people from arguing, geez, dad promised me, you know, an extra ten thousand bucks over my sister. No, no, no, no, no. That's why you have an estate plan. Many of us again, especially if we have gray hairs, we've been through this with family. It it's it's probably one of the hardest discussions that I have with people when we talk about, you know, whether they need an estate plan. And I hear it on a daily basis. my kids love each other. They're never gonna fight. They'll do, you know, they know what my wishes are. The stories I could give you, both that I've gone through personally and that I've seen clients and friends go through. And I'm sure all of you have your own stories. When money gets involved, it doesn't matter whether you're blood or not. Hopefully it never happens because let me tell you, there is absolutely nothing, worse than when a family is ⁓ when they should be mourning the loss of that loved one. But they're fighting over this asset or this bank account or who's going to pay the bills, or you know, I mean, let your imagination wander. All these things that we've covered. There is nothing worse. And you talk about a way to drive a wedge in between children can last forever. Absolutely last forever. All because you didn't have an estate plan. So notice again, dollar amounts talked about here. It's just about taking care of the family. So my final reason is very simple. Estate planning is not for you. It is a gift for your family. Or I should say a gift to your family. And I'll tell you why when we come back. Welcome back to the John Sanchez Show on New Stock 780 KOH. All right, we're gonna wrap things up on our topic: why you don't have to be wealthy to have an estate plan. Once again, a 263 gain on the Dow, NASDAQ loss 222, SP lower by 13. right, once again, as a reminder, got my next upcoming educational webinar for you titled Trust Funding: The Step Most Families Miss. Next ⁓ 6 no charge, of course. Never will have a charge. Just go to my website, specialized trusts.com. And right on the homepage, click to register. It's that simple. right, back to our topic. So let me do a quick ⁓ quick recap before I get to the planning is a gift to your family. So once again, here are my reasons for all of you to consider having living trust. I can't tell you that you have to have one. That's your choice. I'm just giving you the information to you to make it an informed adult decision. Once again, it's about the family. It's not about money. If you want a home, rental home, family heirlooms, reason number two. Reason number three, estate planning is also about incapacity, right? All those decisions that have to be made, financial, medical, paying the bills, speaking to the doctors, so on and so forth. Can't do that without an estate plan or some of the supporting powers of attorney documents. Parents, next Parents need estate plans. Who's gonna raise your children? You're gonna leave it up to the courts if you don't have an estate plan to make that decision. Who's gonna manage their inheritance? Who's gonna make the financial financial decisions for those beautiful kids? You can if you have an estate plan. If not, the court's gonna do it. The young adults, another reason. 18 yeah, they don't have any assets or very little assets in most cases. You'd be surprised though. Some of these kids, you know, unlike my generation and your generation, you know, my parents never bought me stocks when I was, you 10 years old or something. I mean, of course, it's not uncommon for, ⁓ you know, 19-year-old to have you know, six digits in a brokerage account that mom and dad ⁓ you know, started investing when they were born. I'm not talking a college 529. I mean, so they do have the assets and they do need a a revocable trust, not just a will. But again, age 18, they need at least a will, healthcare directive, durable power of attorney, hip. The next reason, the family stress, right? We don't want families arguing, fighting. Again, can last forever. These are these are deep scars that can last and drive a wedge between a family ⁓ you for eternity. If you have an estate plan, usually that's not going to happen. Now, here's where I left off. Estate planning ⁓ is gift to your family. That's my final reason for you to consider having an estate plan. Because think about it. Your estate plan is not for you. Let me repeat that. Your estate plan is not for you. I'm gonna put a little little little asterisk here. Unless you are getting into, you know, donating to charities and endowments and things like that, you know, ⁓ more net worth type of strategies. But if we strip, you know, donations and that type of thing out, it is not about you. It's about the people that you love. Right? Everything that I've talked about with you this afternoon, it's all for your family. So they don't fight. So they can mourn you. So they can everything you want them to do about your life. And the last thing that, you know, as a parent or a grandparent that we would ⁓ ever want to see with our friend our family is them fighting over. Some sometimes stupid things. I told you I had a family member where two sisters, the had a beautiful laid-out written trust, all the way down to the details of what suit he wanted to be buried in. And he passes away. And literally two hours after the the the burial concerned, we were at his house, and there was old, ugly painting that you probably would not even give five dollars for at a at a garage sale. But these two sisters, they loved this painting. It had so much sentimental value from when their grandmother was alive, been in the family for a million years. Ugliest thing I've ever seen. But they started arguing just hours after they just buried their grandfather. No, I want the painting. No, I want the painting. Literally, they ended up storming out on the day of his of his funeral. And they did not speak for over 20 years because of the wedge that that drove over a stupid painting. So imagine when wealth is involved, how more complicated it gets. So once again, the estate plan, it's not about you. It's for your family. It's for the people that you love. I think if we could all put little sentence or paragraph at the of our trust and said the following: I did this I care enough for my family to make things easier for you. Imagine your family reading something like that. Instead of saying, That son of a gun, he left us a bunch of bills. We can't get into his bank account. We can't talk to his doctor. We can't do anything. He screwed us over all the things I've heard. That wasn't your intention. It's just you didn't get around to getting an estate plan done. Again, we can do it for you in two hours. Time is not an issue anymore. Cost is not an issue. $3,649 we can do it for. That's it. Not eight, $10,000, $12,000 like I ended up paying for mine. No, no, no. Those days are gone. Two hours, $3,600, you're done. It's that simple from the comfort of your home. So I want to leave you with a with a couple closing thoughts. I think I've convinced you that estate planning has very, little to do with being rich. It has everything do with being prepared. It has everything to do for your loved ones. Because again, you don't create an estate plan because you're wealthy. You create one because the people you love deserve clarity. They deserve protection and they peace of mind. If you want to learn more about it, I've got a lot of articles and and things on our website at specializetrust.com. Just click on the Step Learning Institute ⁓ section of our website and you get more knowledge than you want. Or again, sign up for our upcoming educational webinar next Wednesday. God Have a great afternoon. We'll see you again tomorrow on the John Sanchez show.