Latest / The Steve Harvey Morning Show / Financial Strategies: She explains the value of estate planning and clarifies the differences and roles of wills, trusts, and powers of attorney

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Financial Strategies: She explains the value of estate planning and clarifies the differences and roles of wills, trusts, and powers of attorney · The Steve Harvey Morning Show

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  Speaker 1: Welcome to my show.
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  Speaker 2: I'm Rashon McDonald, a host of Money Making Conversations Masterclass,
• 0:04
  Speaker 2: where we encourage people to stop reading other people's success
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  Speaker 2: stories and start planning your own.
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  Speaker 2: on alert because my guests provide tips on how you
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  Speaker 2: can uplift your community, improve your financial planning, motivation, or
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  Speaker 2: advice on how to be a successful entrepreneur. Now, let's
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  Speaker 2: get this podcast started. My guest focus is on providing
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  Speaker 2: will trusts, wills and trusts, and other estate planning documents
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  Speaker 2: to black and brown women and their families to education
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  Speaker 2: and state planning services. She strategizes with her clients to
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  Speaker 2: help them keep control of their legacy long after they
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  Speaker 2: are gone. She's a decade of experience spanning landlord tenant law,
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  Speaker 2: family law, wills and estates, disability law, which is also
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  Speaker 2: very important in your civil rights. Please work with the
• 1:07
  Speaker 2: Money Making Conversation Master Class, Whitney Docs League.
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  Speaker 3: Thank you.
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  Speaker 1: Let's say attorney Whitney Locks Leap.
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  Speaker 3: You know I'm trying.
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  Speaker 1: Yes, Okay, so we know what we're talking about that.
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  Speaker 2: Yeah, can I say attorney Lea. Let everybody know what
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  Speaker 2: we're dealing with a person who is law. You're not
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  Speaker 2: just talking about estate planning. You are a licensed legal
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  Speaker 2: professional in this area and they should go to you.
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  Speaker 1: Correct.
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  Speaker 3: Yes, that's absolutely right.
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  Speaker 4: And when you talk about success like live your success story.
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  Speaker 4: That's why I'm like, yeah, call me attorney Lee.
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  Speaker 2: You practice law or in the form of a state planning,
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  Speaker 2: wills and trust.
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  Speaker 1: What exactly is that?
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  Speaker 4: Yeah, So it's multiple different practice areas that are sometimes
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  Speaker 4: grouped together. So when we're talking about estate planning, we're
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  Speaker 4: talking about a strategy of legacy building that involves a
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  Speaker 4: variety of different of different professionals and a variety of
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  Speaker 4: different areas. So me specifically as an attorney, I am
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  Speaker 4: doing the will documents, I am doing the trust documents,
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  Speaker 4: I am doing the powers of attorney documents. I am
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  Speaker 4: advising people on how the law is going to impact
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  Speaker 4: the estate that they have. So the stuff that they have,
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  Speaker 4: whether that stuff will be taxed when they pass away,
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  Speaker 4: and how they can give that stuff to whoever they
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  Speaker 4: want without as little interference as possible. Okay, Now, there
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  Speaker 4: are other professionals that I work closely with, so insurance agents,
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  Speaker 4: because life insurance is a huge part of a state
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  Speaker 4: planning retirement folks.
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  Speaker 1: Let's pause right there.
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  Speaker 2: Why is life insurance a huge part of a state planning?
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  Speaker 4: It can be a huge tool when we're talking about
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  Speaker 4: not only building your legacy, but protecting the legacy. Okay,
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  Speaker 4: so let's take the example of a home. A family
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  Speaker 4: owns a home. That home is four hundred thousand dollars.
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  Speaker 4: They have a mortgage on that home. The owner and
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  Speaker 4: the person with the mortgage passes away. Their intention when
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  Speaker 4: they purchased this home was to shelter their family, provide
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  Speaker 4: a home, but also to be able to pass on
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  Speaker 4: equity of that home through a sale. So they maybe
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  Speaker 4: create an estate plan where they are transferring their property
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  Speaker 4: to their children. However, their children maybe are not in
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  Speaker 4: a position to pay off a mortgage because the mortgage
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  Speaker 4: doesn't disappear when you do. Okay, the mortgage is going
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  Speaker 4: to continue. So life insurance can be a tool that
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  Speaker 4: people use to push money into the family for the
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  Speaker 4: purpose of the family now being able to pay off
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  Speaker 4: some of the debts. So now maybe they can pay
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  Speaker 4: off the mortgage and own the home free and clear,
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  Speaker 4: or maybe they're using that money to do other to
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  Speaker 4: take other opportunities that they wouldn't have been able to
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  Speaker 4: live a comfortable life exactly. And so life insurance is
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  Speaker 4: really critical. But more so, like if we're going to
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  Speaker 4: step back a little bit and just kind of get
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  Speaker 4: back to basics, what's important is that as we are
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  Speaker 4: creating a legacy, it's not just about leaving the stuff,
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  Speaker 4: but it's about communicating with loved ones about what to
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  Speaker 4: do with the stuff, how to manage the stuff, how
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  Speaker 4: to pay off the mortgage, and making sure that when
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  Speaker 4: we're making these decisions, we are leaving our assets with
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  Speaker 4: people who can be responsible for them.
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  Speaker 1: Cool.
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  Speaker 2: I'm talking to attorney Whitney Knoxley, and she stated is
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  Speaker 2: state planning is a wealth preservation and empowered with strategy
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  Speaker 2: that lets entrepreneurs, business owners, and everyday people because there
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  Speaker 2: are more everyday people out there than entrepreneurs and small
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  Speaker 2: business owners keep more of what they make pass it
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  Speaker 2: on with dignity and avoid losing it to court calls,
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  Speaker 2: taxes and confusion. Let's go back to that, losing it
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  Speaker 2: to court calls, taxes and confusion.
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  Speaker 1: Why is that?
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  Speaker 4: Yes, So let's talk about the problem sense of probate.
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  Speaker 4: And I know for those of you divine nine, probate
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  Speaker 4: means something totally different. Okay, So exactly, okay, So as
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  Speaker 4: in a state planning and probate attorney, what I'm talking
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  Speaker 4: about is this formal process of proving a will. Okay,
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  Speaker 4: So in Georgia, when somebody and in every state actually
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  Speaker 4: when somebody passes away, if they have assets, they have
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  Speaker 4: to go through a probate process in which a judge says, okay,
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  Speaker 4: this person has passed away. Just a random judge, a
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  Speaker 4: random judge. Okay, here in Georgia, it's in a probate court.
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  Speaker 4: But they say this person has passed away. These are
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  Speaker 4: their errors. This is who we're going to give this
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  Speaker 4: stuff to based on what the law has already said.
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  Speaker 4: Now we can take some control of that through creating
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  Speaker 4: a will. Think of a will as a letter to
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  Speaker 4: the judge, though, because a will still has to go
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  Speaker 4: through probate court, and when that happens, you're spending money
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  Speaker 4: on legal fees. If you need an attorney to represent
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  Speaker 4: you, you are spending money on just the court fees. Here
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  Speaker 4: in Georgia to file this type of petition, you can
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  Speaker 4: easily spend eight hundred, nine hundred dollars just getting the
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  Speaker 4: case in court. In other states, there are fees to
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  Speaker 4: be in probate court that are dependent on the amount
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  Speaker 4: of your asset of the estate. So you might have
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  Speaker 4: a two percent fee in I don't know California to
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  Speaker 4: just be in probate court, and that's two percent over
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  Speaker 4: the two million dollar estate that you have.
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  Speaker 3: So you're paying what is that twenty.
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  Speaker 4: Thousand dollars just to be in court. Okay, So, but
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  Speaker 4: also taxes when we pass away. Some states have what's
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  Speaker 4: called in a state tax or a death tax. This
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  Speaker 4: death tax is a tax just because you died, just.
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  Speaker 3: Because you died.
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  Speaker 1: So let me go back to do a little math.
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  Speaker 2: Now that two of the billion is twenty, right, I
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  Speaker 2: think so, yeah, because I'm math made forty thousand.
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  Speaker 1: Okay, oh.
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  Speaker 4: Math, thank you? Look because I don't do math, all right.
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  Speaker 2: Yeah, because two of that because I when I do
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  Speaker 2: to show money making Conversations Master Class. It's important that
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  Speaker 2: we work hard all our lives and then you never.
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  Speaker 1: Know when that day is going to come.
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  Speaker 2: And you know, accidents are what they are, accidents, but
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  Speaker 2: when you but are you prepared for that accident? That's
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  Speaker 2: what this conversation is about. So there's a degree of
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  Speaker 2: honesty we got to have with our sales. Correct attorney leads.
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  Speaker 4: Oh, absolutely, because there it's we know that we will
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  Speaker 4: pass away. We don't know when right. So people often ask, well,
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  Speaker 4: when should I start estate planning? You can start when
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  Speaker 4: you're eighteen. If you have a child and that child
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  Speaker 4: is earning income, that child can start planning younger than that,
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  Speaker 4: and maybe that involves planning with the parent. But we
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  Speaker 4: can start making decisions like who is going to care
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  Speaker 4: for me if I can't care for myself? Who is
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  Speaker 4: going to access my accounts if I can't care for myself?
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  Speaker 4: Those are decisions that are made in power of attorney documents,
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  Speaker 4: and eighteen year olds can and should have those. If
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  Speaker 4: you are sending an eighteen year old off to college
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  Speaker 4: thinking that you're going to be able to call their
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  Speaker 4: doctor and ask what's going on with this child? You
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  Speaker 4: got another thing coming because they're gonna have to their adults.
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  Speaker 4: Now they have to allow you that access.
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  Speaker 1: Let me answ you this attorney. The first of all,
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  Speaker 1: how do we get in touch with you?
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  Speaker 3: Yes?
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  Speaker 4: So email me Whitney at willsfothepeople GA dot com.
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  Speaker 1: Wills four, which is the number four.
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  Speaker 4: Nope, I'm spelling everything out except for Ga Whitney at
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  Speaker 4: wills for the people GA Ga.
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  Speaker 1: Okay, it's wills for the basically Georgia.
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  Speaker 3: Yep, okay, Will's for the people GA dot com.
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  Speaker 2: So you mentioned probate and then you mentioned the state planning,
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  Speaker 2: and then the magic word came out will Yes, okay,
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  Speaker 2: because that's the drama that I always hear about when
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  Speaker 2: it comes to celebrities who don't have a will. We
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  Speaker 2: never get to estate planning, but that will conversation comes up,
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  Speaker 2: and then they'll also probate and probate and no will
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  Speaker 2: always leads to disaster.
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  Speaker 1: Am I right or wrong?
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  Speaker 3: Most of the time?
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  Speaker 4: There are reasons why somebody might want their family to
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  Speaker 4: go through a probate process. Maybe their family has a
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  Speaker 4: lot going on and they need oversight from a judge
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  Speaker 4: to figure out what should happen with the estate. What
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  Speaker 4: I want to stress though, is that a will is
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  Speaker 4: part of an estate plan, but it is not the
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  Speaker 4: estate plan.
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  Speaker 3: It is one piece.
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  Speaker 4: A will dictates what happens to your stuff when you're gone, Okay,
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  Speaker 4: but it does not help you with what happens if
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  Speaker 4: I get into a car accident and now I'm sipping
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  Speaker 4: out of a straw for the rest of my life
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  Speaker 4: and can't make decisions for myself. It does not help
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  Speaker 4: you if you have assets and you can't deal with
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  Speaker 4: those assets because of a medical or mental health issue. Okay,
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  Speaker 4: those are powers of attorneys. But also a will is
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  Speaker 4: very limited in how you are able to protect the
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  Speaker 4: assets after you're gone. A trust often, you know, when
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  Speaker 4: we think about trust, we're really talking about revocable living trusts,
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  Speaker 4: but there's irrevocable trusts as well, And the trust is
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  Speaker 4: that legal agreement where you are able to really have
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  Speaker 4: a lot of control over your assets even after you're gone.
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  Speaker 4: And a trust allows families to bypass probate altogether, so
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  Speaker 4: they are not having to go to court, they are
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  Speaker 4: not having to pay legal fees, they are not having
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  Speaker 4: to leave up to random people who want to challenge
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  Speaker 4: this will to delay the process.
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  Speaker 3: A trust is a good option for many people too.
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  Speaker 2: Well, I ask you a couple of courts be more
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  Speaker 2: specific about it. Okay, what a specific state planning too?
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  Speaker 2: Should entrepreneurs know about that protect their income streams?
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  Speaker 3: Yes?
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  Speaker 4: So powers of attorney documents specifically a financial power of attorney,
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  Speaker 4: and if you want, you can do a power of
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  Speaker 4: attorney for your business. These documents make it so that again,
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  Speaker 4: if you can't manage your business, somebody else can't. If
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  Speaker 4: you don't have these documents and you don't have it
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  Speaker 4: set up in your business operating agreement or in your
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  Speaker 4: buy sell agreement, what is going to happen? Then your
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  Speaker 4: business may not be able to continue to run, to
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  Speaker 4: bring in income during times where maybe you're temporarily incapacitated,
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  Speaker 4: not able to care for yourself. Having an operating agreement
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  Speaker 4: as part of your business, and in that operating agreement
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  Speaker 4: spelling out what happens if the principle or the CEO
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  Speaker 4: or the whoever can't be in that role anymore. And
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  Speaker 4: then third, so those are two the powers of attorney.
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  Speaker 4: The operating agreement or perhaps a buy sell agreement, which
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  Speaker 4: I like to think of as the will for the business.
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  Speaker 4: Insurance specifically key Man Insurance or key Person insurance.
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  Speaker 1: I've heard of that, yep.
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  Speaker 4: So if you are an entrepreneur business owner where the
• 12:07
  Speaker 4: income from your business depends on you being able to work,
• 12:11
  Speaker 4: like you are providing a service that only you can provide,
• 12:15
  Speaker 4: and if you don't provide the service, you don't get money.
• 12:17
  Speaker 4: Key Man insurance can come in and compensate you for
• 12:21
  Speaker 4: some or all of your income while you are not
• 12:24
  Speaker 4: able to work. So those are three ways that you
• 12:27
  Speaker 4: can protect income streams if they need protected.
• 12:32
  Speaker 1: Please don't go anywhere.
• 12:33
  Speaker 2: We'll be right back with more money Making Conversations masterclassn
• 12:37
  Speaker 2: I need for you to do me a favor right
• 12:39
  Speaker 2: now to follow or subscribe to Money Making Conversation. It's
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• 13:00
  Speaker 2: back to Money Making Conversation, mastic lands with me, Rashawn McDonald. Okay,
• 13:05
  Speaker 2: because I can keep you an insurance when I'm talking
• 13:07
  Speaker 2: to a lawyer here and I'm talking about legal but
• 13:10
  Speaker 2: you say that state planning and insurance coach hand in.
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  Speaker 4: Hand Look, this is why I say it's a strategy. Okay,
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  Speaker 4: estate planning is a big strategy.
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  Speaker 1: So for the reason I bring it up.
• 13:19
  Speaker 2: When we come to your attorney lead, are you a team?
• 13:22
  Speaker 2: Do you have people that you recommend or you just
• 13:25
  Speaker 2: tell people this is what you should include so it
• 13:27
  Speaker 2: doesn't feel like you're handing them off to somebody that
• 13:30
  Speaker 2: bounds them to the relationship that only you bring to
• 13:33
  Speaker 2: the table. How do you counsel people who come to
• 13:36
  Speaker 2: you for their advice? I'm offering on this show that
• 13:40
  Speaker 2: your firm provides.
• 13:42
  Speaker 3: Right, So I stay in my lane.
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  Speaker 1: Okay.
• 13:44
  Speaker 4: I am an attorney. I am not an insurance salesperson.
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  Speaker 4: What I do is work closely with people that are
• 13:52
  Speaker 4: in the financial industry and a variety of respects, and
• 13:54
  Speaker 4: I make referrals. Those referrals are not compensated referrals. Those
• 13:59
  Speaker 4: referrals are simply this is somebody that I know. Maybe
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  Speaker 4: it's somebody that I trust. I've referred people.
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  Speaker 3: To my own insurance agents.
• 14:08
  Speaker 4: I have a broad group of professionals that I like
• 14:14
  Speaker 4: and that I trust, and I want to send you know,
• 14:17
  Speaker 4: business to when I see that clients are in need
• 14:19
  Speaker 4: of a certain service in.
• 14:21
  Speaker 2: The client, we live in the political climate that we
• 14:23
  Speaker 2: live in today, and then right in the middle of
• 14:25
  Speaker 2: my intro, we say documents to black and brown women
• 14:31
  Speaker 2: and their families. We have an atmosphere that tries to
• 14:36
  Speaker 2: intimidate people who are providing service specific for people who
• 14:41
  Speaker 2: are are people of color.
• 14:43
  Speaker 1: How do you feel about that.
• 14:47
  Speaker 4: It's a part of the larger, you know, coordinated attack
• 14:51
  Speaker 4: to keep people of color less than in this society.
• 14:56
  Speaker 4: And I'm not standing for it. So because it's my business,
• 15:00
  Speaker 4: you know, like I get to talk about blackness and
• 15:03
  Speaker 4: black people and people of color and how I want.
• 15:06
  Speaker 3: Us to succeed.
• 15:08
  Speaker 4: And I think, look, I prior to opening my business,
• 15:13
  Speaker 4: I was a nonprofit employee. I only worked at nonprofit
• 15:17
  Speaker 4: law firms as an attorney and as a social worker,
• 15:20
  Speaker 4: and so I know how difficult it has been for
• 15:24
  Speaker 4: these firms to be in this political environment where we
• 15:27
  Speaker 4: have to water down or kind of shift or sidestep
• 15:32
  Speaker 4: or use code language for how we want to help
• 15:35
  Speaker 4: specific people. But I'm definitely here to say that I
• 15:38
  Speaker 4: love working with black women. You know, my family is
• 15:41
  Speaker 4: a family of matriarchs that have provided for generations and generations,
• 15:48
  Speaker 4: and I think it's so important that we provide for
• 15:50
  Speaker 4: black women, whether or not they are mothers, because black
• 15:55
  Speaker 4: women are the backbone of our society, you.
• 15:58
  Speaker 2: Know, attorneyly, you know, I smile because I feel that
• 16:02
  Speaker 2: you certain people can't live in every generation. Okay, they can't,
• 16:07
  Speaker 2: But I see no problem with you in the twenties, thirties, forties.
• 16:10
  Speaker 2: I see no problem with you at the front line
• 16:13
  Speaker 2: of change. Why is that in your personality or in
• 16:17
  Speaker 2: your DNA or where did they come from? Uh?
• 16:21
  Speaker 4: Look, that's a great question that nobody's asked me. I
• 16:24
  Speaker 4: think about this because I feel like my mouth would
• 16:26
  Speaker 4: have got me in trouble.
• 16:27
  Speaker 3: My mouth would have got me in trouble.
• 16:29
  Speaker 4: And I'm grateful that I am in a time where
• 16:32
  Speaker 4: I can be relatively safe, where I have some privilege.
• 16:38
  Speaker 4: I have some privilege, I have education, I have money,
• 16:42
  Speaker 4: and I have people around me. My family is one
• 16:47
  Speaker 4: of vocal people, and it's one of people who love
• 16:50
  Speaker 4: to have fun, who love to enjoy. And I think
• 16:55
  Speaker 4: it's hard fought, you know, it's earned. And I just
• 17:00
  Speaker 4: have a feeling that my ancestors were those people on
• 17:04
  Speaker 4: the front lines. And I love to live my life
• 17:06
  Speaker 4: in a way so that my ancestors could be proud
• 17:09
  Speaker 4: of their sacrifice and thinking about in order for me
• 17:14
  Speaker 4: to be here, to be able to talk to you
• 17:16
  Speaker 4: about wills, so many of my relatives had to survive
• 17:20
  Speaker 4: when everything about their experience was telling them they should
• 17:24
  Speaker 4: not survive, and that I don't even know what to
• 17:28
  Speaker 4: do with that, right, Like, I'm just gonna keep showing
• 17:31
  Speaker 4: up because it's powerful.
• 17:32
  Speaker 3: It's amazing.
• 17:34
  Speaker 2: The reason I said that because sometimes I have to
• 17:38
  Speaker 2: compliment people on their emotional positivity and their fearlessness. I
• 17:46
  Speaker 2: detect a high degree of fearlessness. With that being said,
• 17:50
  Speaker 2: does it get you in trouble?
• 17:51
  Speaker 3: Yes?
• 17:52
  Speaker 4: Look, let me tell you, I'm probably not a great employee, okay,
• 17:56
  Speaker 4: because I'm that person I ask questions and not because
• 18:01
  Speaker 4: i want to be facetious, not because I'm trying to
• 18:03
  Speaker 4: annoy somebody or just challenge for the sake of challenging,
• 18:06
  Speaker 4: but because my mind is always working and thinking and
• 18:09
  Speaker 4: trying to understand. I don't do things just because that's
• 18:14
  Speaker 4: how it's always been done, and if there's a good
• 18:16
  Speaker 4: reason for it, I would love to know that reason.
• 18:19
  Speaker 4: My therapist, because I'm in therapy, y'all know, I need therapy.
• 18:22
  Speaker 4: My therapist says, I need to I'm somebody that needs
• 18:25
  Speaker 4: to know. I have to process. I have to have
• 18:27
  Speaker 4: information in order for me to move forward. And so
• 18:31
  Speaker 4: that is how I go about my life is learning
• 18:34
  Speaker 4: information processing so that I can, you know, keep doing
• 18:38
  Speaker 4: what I'm doing.
• 18:39
  Speaker 1: So what are the steps?
• 18:40
  Speaker 2: Then, Eternity, you know someone that hears you on the show,
• 18:45
  Speaker 2: going to make a conversation Massic laughs, what's the contact information?
• 18:49
  Speaker 4: So you can email me Whitney at WILLSFOTHEPEOPLEGA dot com.
• 18:53
  Speaker 1: Okay, they email you. What are the steps?
• 18:56
  Speaker 4: After that and they can also they can find me
• 18:58
  Speaker 4: out the website which is also Wills for the peoplega
• 19:00
  Speaker 4: dot com.
• 19:01
  Speaker 3: So here's the first step.
• 19:02
  Speaker 4: You make a fifteen minute appointment so that you speak
• 19:05
  Speaker 4: with myself or one of my team members just so
• 19:08
  Speaker 4: that we can figure out, Okay, what do you think
• 19:10
  Speaker 4: you need and is that something that we can help
• 19:13
  Speaker 4: you with. Right at that point, we'll explain to you
• 19:15
  Speaker 4: what our process is. We have a four step four
• 19:18
  Speaker 4: meeting process. We've got the legacy planning meeting where we
• 19:22
  Speaker 4: are going to talk about what are your goals, what
• 19:24
  Speaker 4: are your needs? What is your family situation? What are
• 19:27
  Speaker 4: the assets based on everything that you've told me about
• 19:30
  Speaker 4: those things through an intake process. Here are your options
• 19:34
  Speaker 4: for estate planning. This is how this option a will
• 19:38
  Speaker 4: would help you. This is how a trust would help you. Okay,
• 19:41
  Speaker 4: And we have a conversation next when you decide that
• 19:44
  Speaker 4: you want to work with me, we do a design
• 19:46
  Speaker 4: meeting that's two hours of my time, where we are
• 19:49
  Speaker 4: talking about now, what is your plan going to say?
• 19:52
  Speaker 3: What are all of.
• 19:53
  Speaker 4: These pieces you have X, Y Z assets? What we
• 19:56
  Speaker 4: go through your list of assets? What is happening with
• 19:59
  Speaker 4: each asset? What is the plan?
• 20:02
  Speaker 3: Then?
• 20:03
  Speaker 4: Sorry, we have a review meeting where we review your
• 20:05
  Speaker 4: estate plan once it's drafted. And then the final meeting
• 20:08
  Speaker 4: is the signing ceremony where we sign and we.
• 20:11
  Speaker 1: Celebrate, celebrate.
• 20:12
  Speaker 2: Now, the interesting part of all these things is that
• 20:15
  Speaker 2: I don't want people to be limited on the skill
• 20:18
  Speaker 2: set that you bring to the table. We're talking about wills.
• 20:21
  Speaker 1: Do you do wills?
• 20:22
  Speaker 4: I do wills, I do trusts, I do powers of
• 20:24
  Speaker 4: I do comprehensive estate planning.
• 20:26
  Speaker 1: Okay, cool?
• 20:27
  Speaker 4: And I represent people in probate court when a loved
• 20:30
  Speaker 4: one has passed away.
• 20:31
  Speaker 1: Okay, cool?
• 20:31
  Speaker 2: Now I mentioned disability and I also mentioned civil rights.
• 20:35
  Speaker 2: Let's talk about disability at your law firm, and then
• 20:38
  Speaker 2: let's talk about civil rights.
• 20:39
  Speaker 4: Okay, So disability law is a highly complex area of
• 20:45
  Speaker 4: law that really interacts with multiple types of law.
• 20:50
  Speaker 3: We'll say so.
• 20:52
  Speaker 4: In my practice as an estate planning attorney, how this
• 20:54
  Speaker 4: comes up most often is when we're talking about aging
• 20:57
  Speaker 4: populations or chill who are disabled whose parents want to
• 21:02
  Speaker 4: leave them assets but can'ts or are afraid that they
• 21:07
  Speaker 4: if they do that, they're going to make that child
• 21:09
  Speaker 4: ineligible for whatever benefits they're receiving. Okay, So take autism.
• 21:15
  Speaker 4: Here in Georgia, children with autism receive a number of
• 21:20
  Speaker 4: benefits because they may need therapy literally all day long,
• 21:23
  Speaker 4: every day of the week. Okay, that is an exorbitant
• 21:26
  Speaker 4: amount of money. I know because my family has paid that.
• 21:29
  Speaker 4: So in with some disabilities, if you it's going to
• 21:37
  Speaker 4: be based on whether or not you have resources. It's
• 21:41
  Speaker 4: going to determine whether or not you now have access
• 21:43
  Speaker 4: to programs that will pay for this person to be
• 21:47
  Speaker 4: able to get the therapies that they need.
• 21:49
  Speaker 3: Okay.
• 21:50
  Speaker 4: So if a parent leaves a large asset to somebody
• 21:54
  Speaker 4: who is on what's called the need based program Medicaid
• 22:00
  Speaker 4: is an example, and the income or the assets are
• 22:04
  Speaker 4: too high, then that person will be dropped from that program.
• 22:09
  Speaker 4: So maybe they're receiving two thousand, three hundred thousand dollars
• 22:13
  Speaker 4: worth of benefits from that program every year, and a
• 22:17
  Speaker 4: parent leaves them a one hundred thousand dollars in assets,
• 22:20
  Speaker 4: and now they have to let go of these other assets.
• 22:24
  Speaker 4: So it comes up in the context of planning for
• 22:26
  Speaker 4: disabled children, but it also comes up in the context
• 22:29
  Speaker 4: of what are we going to do as we age
• 22:33
  Speaker 4: care to pay for long term care? Who is going
• 22:36
  Speaker 4: to take care of me as I age? Am I
• 22:39
  Speaker 4: going to need a nursing home? Am I going to
• 22:41
  Speaker 4: need assisted living or a caregiver? And what money is
• 22:46
  Speaker 4: there going to be to pay for it? Because it
• 22:48
  Speaker 4: is not free, No, it is not. And whether or
• 22:51
  Speaker 4: not you have money in your bank account for it,
• 22:54
  Speaker 4: there will be a price to pay. And so part
• 22:56
  Speaker 4: of a state planning this is really an elder law
• 23:00
  Speaker 4: is the specialty. In part of this, we are thinking
• 23:04
  Speaker 4: about how do we plan today for long term care
• 23:08
  Speaker 4: so that we don't have to deplete our entire.
• 23:11
  Speaker 3: Assets, all of our assets to pay for this long
• 23:14
  Speaker 3: term care.
• 23:15
  Speaker 1: Civil rights.
• 23:16
  Speaker 4: Yes, so civil rights is something that you know. I
• 23:22
  Speaker 4: worked for several years as a civil rights attorney, working
• 23:25
  Speaker 4: in and out of Georgia and Alabama prisons with people
• 23:28
  Speaker 4: who are incarcerated. That work is needed and it's exhausting.
• 23:34
  Speaker 4: It is exhausting. So I view my role emotion the
• 23:39
  Speaker 4: emotion because, particularly in that line of work, what I
• 23:43
  Speaker 4: was doing, the success is incremental and small. Right, So
• 23:51
  Speaker 4: it's a success today that somebody got three meals, but
• 23:55
  Speaker 4: I'm still going home as the attorney concerned about their
• 23:59
  Speaker 4: safety because maybe their jail door doesn't lock, the cell
• 24:03
  Speaker 4: door doesn't lock, so I'm concerned that they might not
• 24:06
  Speaker 4: be alive tomorrow. But yeah, I was able to get
• 24:09
  Speaker 4: them three meals today, or yeah, I was able to
• 24:11
  Speaker 4: get them medical care today. So for me, it was
• 24:15
  Speaker 4: really important that I found a way to still work
• 24:20
  Speaker 4: with the people that I love and care about, but
• 24:23
  Speaker 4: in a way that was going to be sustainable, because
• 24:25
  Speaker 4: let me tell you, I grew up thinking I was
• 24:27
  Speaker 4: going to be Ben Crump. Right. I don't want to
• 24:31
  Speaker 4: live the Ben Crump lifestyle.
• 24:33
  Speaker 3: I have a.
• 24:34
  Speaker 4: Family, I got young children. I want to be at home.
• 24:36
  Speaker 4: I don't want to travel all them, you know, and
• 24:39
  Speaker 4: so one thing as I've kind of developed into this
• 24:43
  Speaker 4: founder and business owner, is really learning what is the
• 24:47
  Speaker 4: lifestyle that I want to live right now and how
• 24:49
  Speaker 4: do I make my career exactly? How do I make
• 24:52
  Speaker 4: my career fit with that?
• 24:55
  Speaker 2: Wow, I'm talking to the amazing I'm putting amazing in
• 24:59
  Speaker 2: front of a turn amazing attorney Whitney Doxlee. And the
• 25:02
  Speaker 2: reason I say that because of the fact that, you know,
• 25:05
  Speaker 2: if somebody's listening to it and hopefully can hear the
• 25:07
  Speaker 2: energy and the honest passion and care that you have
• 25:11
  Speaker 2: in your voice. Because that means something to me. Because
• 25:15
  Speaker 2: I interview a lot of people, and I know it's
• 25:17
  Speaker 2: a business, but it also could be a balance, you
• 25:20
  Speaker 2: know about you know, I do these interviews because I
• 25:23
  Speaker 2: care about the individual who sits across me. And hopefully
• 25:26
  Speaker 2: somebody hears this interview and they and they change their lives.
• 25:29
  Speaker 1: And I tell my staff all the time, we.
• 25:31
  Speaker 2: Come to work every day to change or impact somebody's
• 25:34
  Speaker 2: life and a part of the manner so we have
• 25:36
  Speaker 2: to have our act together. We just can't trivialize what
• 25:40
  Speaker 2: we do. You know, we send out a message, it
• 25:42
  Speaker 2: has to be accurate, cannot be typos. We added something.
• 25:45
  Speaker 2: We just can't cut a word off. You know, somebody
• 25:47
  Speaker 2: sits down here, we can't mispell their names.
• 25:50
  Speaker 1: As a guest.
• 25:51
  Speaker 2: Everything has the responsibility not only to the guests, but
• 25:55
  Speaker 2: the people who've chosen to listen.
• 25:56
  Speaker 1: Or watch what we do. With that being said, well,
• 25:59
  Speaker 1: it's your ultimate goal, attorney.
• 26:03
  Speaker 3: For my business, for my family, for myself.
• 26:06
  Speaker 1: Well you you, it's all. It's the same.
• 26:08
  Speaker 2: You've already told me you could have been big Crop,
• 26:11
  Speaker 2: but you say, I'm like, I'm not hitting the road.
• 26:12
  Speaker 1: Jack. Yeah, I got some kids, Okay. And and you
• 26:16
  Speaker 1: know something, big Crop he called me big brother.
• 26:18
  Speaker 2: So when you said, and we talk about that a lot,
• 26:21
  Speaker 2: you know, because he is daughter's beautiful dollar, he has
• 26:24
  Speaker 2: the leave her to do what he has to do
• 26:28
  Speaker 2: because he's established his brand and his reputation.
• 26:32
  Speaker 1: Like he said, he's the he's the black people's lawyer. Okay.
• 26:35
  Speaker 1: And so with that being said, what's your goal.
• 26:38
  Speaker 4: Yeah, I think at the end of the day, I
• 26:41
  Speaker 4: want to rest well, okay. And so for me, that
• 26:44
  Speaker 4: means staying steadfast in my in my commitments to the
• 26:50
  Speaker 4: people that I love in my life, to my husband,
• 26:53
  Speaker 4: to my children being there for them. But that means
• 26:56
  Speaker 4: also as I need to earn income.
• 26:59
  Speaker 3: Because this is a bit of society.
• 27:02
  Speaker 4: I think I have a responsibility to myself and to
• 27:04
  Speaker 4: my ancestors to do the thing that makes me happy,
• 27:07
  Speaker 4: to do the thing that I'm passionate about, and to
• 27:09
  Speaker 4: do it well. And so sometimes that means I need
• 27:13
  Speaker 4: to pivot a little bit so that what I'm doing
• 27:16
  Speaker 4: will fit the lifestyle that I want.
• 27:18
  Speaker 3: And that's fine. I need to be open to that opportunity.
• 27:22
  Speaker 2: You are special, okay when I say that, because you know,
• 27:27
  Speaker 2: I almost wanted you to be my friend and wena friend,
• 27:30
  Speaker 2: you know, because of the fact that you care, you know,
• 27:33
  Speaker 2: and that's why that's why I said, I don't care
• 27:36
  Speaker 2: what era you would have been born in. You're gonna
• 27:38
  Speaker 2: be at the front of the line and you would
• 27:40
  Speaker 2: have something to say. And that's a very powerful statement
• 27:43
  Speaker 2: and a testament that you are a very, very honest
• 27:46
  Speaker 2: and real person.
• 27:47
  Speaker 3: Thank you. I appreciate that.
• 27:49
  Speaker 1: Thank you for coming on Money Making Conversation, Mastic class.
• 27:51
  Speaker 3: Thank you for having me.
• 27:52
  Speaker 1: Thank you for listening to this episode.
• 27:54
  Speaker 2: Now I need for you to do me a favor
• 27:57
  Speaker 2: right now to follow, or subscribe to Money Make Conversation.
• 28:01
  Speaker 2: It's free and you can find it on the iHeartRadio app, Spotify,
• 28:05
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• 28:09
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