Estate Planning Mistakes Tip 4: How Emotions Can Cost You A Fortune​

VIDEO TRANSCRIPTION – Estate planning, how emotions can cost you a fortune. I’m going to share a story from her client files. This is going to be pretty emotional. It got me emotional when a client came into my office and she filed a taxes late.

It was November 15th. And I’m over here talking to her about a holiday prepping and all of this. And she started crying. I’m like, I just asked about your holidays and prepping all of this. She turned around and she said, I just lost my father due to cancer and I lost my sister and my niece.

How did she lose them? They’re young, the same age. She said, my brother-in-law shot my sister and my niece. Why did he do this? And she started after she finished tearing up, she said that my sister wind up disinheriting.

The nephew and he asked a question about how much money will he be inheriting from her in case she dies before him. Once again, she said that she disinherited her son.

And she had a business that she was selling the cars and other assets from the company and she only owed $60,000 on the house so she was getting ready to pay the house off and had no debt except for property taxes on the house. 

So she said that about 90 % of everything is going to go to her daughter. He took great offense to that. Then he went… one day and shot his wife, shot his stepdaughter.

And some of you are to be asking the question, well, who inherited these millions of dollars? Sadly, the daughter’s biological father inherited everything.

Hi, I’m Steven D. Cooper, also known as Coach Coop with Coopers Accounting Service, because your financial freedom matters. If you’d like more great tips, download our popular financial guide on our website at yourfinancialfreedommatters.com or click on the link below. Once again, I said this is quite emotional. It had me in tears.

I had to come over there and embrace her and give her a big bear hug from Coop just to let her know that, Hey you’re not just a client, you’re family here and we love you. So a few of my other staff came over there embraced her as well too, because she was quite emotional.

Now, the ex-husband, which is the daughter’s father, inherited millions of dollars. Now, once after the criminal investigation has been discovered that he was totally oblivious to this, it was not like him and the husband got in cahoots with all of this.

But I share this with you, just make sure on some of the things that you may not have to account for, that you should account for, and talk to your estate planner along with your tax person to make sure that we’re on the same page and we can give you the solid advice that you need.

For more easy financial tips, sign up for a Financial Tip newsletter by going to yourfinancialfreedommatters.com or click on the link below this video. You can also download a financial guide as well. If you like a free 20-minute smart money consultation, call us at 562-436-2600. Well again, I’m Steven D. Cooper, also known as Coach Coop with Coopers Accounting Service.

You want to definitely watch this next video that’s on the screen. Now, I’m going to share some really important financial tips that may affect you.

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