FINAL PODCAST

Rwy'n gobeithio y byddwn yn gweithio'n fawr iawn, ond rwy'n gobeithio y byddwn yn gweithio'n fawr iawn. Rwy'n gobeithio y byddwn yn gweithio'n fawr iawn, ond rwy'n gobeithio y byddwn yn gweithio'n fawr iawn. Rwy'n gobeithio y byddwn yn gweithio'n fawr iawn, ond rwy'n gobeithio y byddwn yn gweithio'n fawr iawn. Rwy'n gobeithio y byddwn yn gweithio'n fawr iawn, ond rwy'n gobeithio y byddwn yn gweithio'n fawr iawn. Diolch yn fawr iawn i chi. Diolch yn fawr iawn i chi. Diolch yn fawr iawn i chi. Diolch yn fawr iawn i chi. Diolch yn fawr iawn i chi. Diolch yn fawr iawn i chi. Diolch yn fawr iawn i chi. Diolch yn fawr iawn i chi. Diolch yn fawr iawn i chi. Diolch yn fawr iawn i chi. Diolch yn fawr iawn i chi. Diolch yn fawr iawn i chi. Diolch yn fawr iawn i chi. Diolch yn fawr iawn i chi. Diolch yn fawr iawn i chi. Diolch yn fawr iawn i chi. Diolch yn fawr iawn i chi. Diolch yn fawr iawn i chi. Diolch yn fawr iawn i chi. Diolch yn fawr iawn i chi. Diolch yn fawr iawn i chi. 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Diolch yn fawr iawn i chi. Diolch yn fawr iawn i chi. Mae'n ei wneud mewn gwirionedd, ac yn ymwneud ag eich rheoliadau lleol, nid yw unrhyw beth yw unrhyw beth. Unwaith eto, yn ymwneud â'r rheoliadau, yn aml, nid yw unrhyw beth yw unrhyw beth yw unrhyw beth sy'n ei wneud gan adolygiadur. Yn aml, mae'n unrhyw beth sy'n cael ei ysgrifennu. Ac, er mwyn yw'n ymwneud â dwy o bobl, mae'n ymwneud â'r unrhyw beth yw unrhyw beth sy'n cael ei ysgrifennu. Yn aml, mae'n ymwneud â dwy o bobl. Felly, gall y cyfrifiadau fod yn cael ei ysgrifennu ar y ddŷ o'r napkin, yn ddiweddar. Yn ddiweddar. Ie. Felly, mae'n ddocument pwysig iawn i'w gael ar gyfer eich rheoliadau. Ie. Ie, os ydw i'n mynd i'r ddau. Wrth gwrs, mwy na hapus i gyd. Y ddau ddocument y byddwch chi'n mynd i'w ystyried yw cael ddiddorol. Ac yn aml, gall ddiddorol ddod yn lle o ddiddorol. Mae ddiddorol yn cael ei ysgrifennu fel y byddwch chi wedi creu person gwahanol, sy'n ymwneud â beth bynnag rydych chi'n eu rhoi i'r ddiddorol hwnnw. Felly, er enghraifft, mewn fy mwyaf ddiweddar y brofiad personol, roedd fy mam wedi rhoi ei home yn ddiddorol. Felly, beth sy'n digwydd yno yw bod y ddiddorol, rydych chi'n creu ddiddorol, ac mae hyn yn cael ei wneud gan ddiddorol ddiddorol, rydych chi'n creu'r ddiddorol hwn, ac mae'r ddiddorol yn arwain ar y ddiddorol. Felly, roedd yn arwain ar ddiddorol, nid fy mam. Ac yna, mae'r ddefnyddiad o gael ddiddorol yna, yn y cas hwn, lle roedd e'n rhoi ei ddiddorol, Yn y cas hwn, mae'r ddiddorol yna, le roedd e'n rhoi ei ddiddorol yna, yn y cas hwn, lle roedd e'n rhoi ei ddiddorol yna, mae'r ddiddorol yn arwain ar ddiddorol yna, yn y cas hwn, lle roedd e'n rhoi ei ddiddorol yna, mae'r ddiddorol yn arwain ar ddiddorol yna, yn y cas hwn, lle roedd e'n rhoi ei ddiddorol yna, mae'r ddiddorol yn arwain ar ddiddorol yna, yn y cas hwn, lle roedd e'n rhoi ei ddiddorol yna, So again, the major advantage of putting things in a trust is that it does not have to go through probate because it was not in my mom's name, but the home was in the name of the trust. So that's definitely something that you want to consider and is often looked at as kind of a smart move for estate planning. Yes, I can definitely see the benefits in having that figured out beforehand and eliminating some mess that could happen after. Right, and I wanted to talk at the end about kind of how maybe you would approach having some of these conversations with your family because that can often be tricky. Okay. Number three. Number three would be a financial power of attorney document. This is something that is drafted by an attorney and this document comes into play if you were to become incapacitated. So you're still living, but let's say that you, heaven forbid, are in a car accident or you have some sort of condition that renders you incapacitated or ill such that you could not take care of your finances. You couldn't pay your bills. You couldn't manage your bank accounts. You couldn't sign any kind of documents. So a financial power of attorney, you would name a person and you would name a backup. And that's very important. We'll talk about that at the end too. You would name a person that would be able to sign on your behalf to handle your finances, to pay your bills, to sign documents, to manage bank accounts and such. So that's a very, very important document to have. Again, this document is for while you are still living. Once you pass away, this document is no longer relevant and the will and the trust documents would take over. But while you're still living, if you were to become incapacitated, this would dictate who would handle your finances. Now, is there a kind of test that one would have to pass to be officially declared incapacitated? That is often something that can be stipulated in this financial document. Like if you want to have one or two doctors to say that you're incapacitated. But it would be in a time where you wouldn't physically be able to handle anything or make any kind of decisions like that, that then the power of attorney would come into play. And you bring up a great point, Nicole, because you want to make sure that when you're choosing these people to handle this responsibility, you want to choose people that you trust that wouldn't be taking advantage of anything while you were incapacitated. Right. OK. And very similar to the fourth document that I wanted to talk about, very similar to the financial power of attorney would be a medical power of attorney. So in the financial power of attorney, you're talking about money in the medical. Obviously, you're talking about medical decisions. So who would you like to make medical decisions for you if you were to become incapacitated? So you would name someone and a backup if the first person was not available. This is oftentimes combined with the language that some people call a living will, where you state your wishes. If you were to have a terminal illness, like, do you want to be resuscitated? How much extraordinary efforts do you want performed on you? Yes, I feel like this is a commonly known or more widely known document. People first think of a person when you're making decisions for them on their behalf. I feel like most people's minds immediately go to the medical side of things. It's very interesting that there's also a financial side of things like you previously talked about. Right, right. And oftentimes they're the same. You name the same people in these. But yeah, they're really critical. And with the medical power of attorney, I think one of the most important things to think about to kind of emphasize how important this document is is that imagine if your family member is hospitalized and not able to communicate. Having this document is such a gift to the family because the family doesn't have to make any decisions because you've already made all the decisions of what you want. Right. So it takes the pressure off the family, which is great. So yeah, and then the last one, the last thing is not specifically a document, but it's just other things to think about. If you have bank accounts, it's really smart to have two names on the bank account or many banks will let you have a TOD, which means transfer on death. So make sure that your bank accounts have beneficiaries listed. If you have automobiles, oftentimes through your motor vehicle association, you're able to designate a beneficiary of a vehicle. Your insurance policies, your retirement accounts, do those have beneficiaries listed? When you pass away, the courts are looking for things that are in your name only to probate, which can get messy. So the more things that you have documented beneficiaries or second names, second signers, things in trust, things in the will, it's such a gift for your family to have all of those things already distributed, so to speak, before you pass away. So I really encourage everyone to have these conversations with their family. I know sometimes they can be tough, but it's such a gift to your family in the end. Yes, you can definitely see the advantages to having all of these things figured out beforehand rather than having to deal with confusion or uncertainty after the fact when there's already so many emotions and grief that are taking place that you would then worry is that swaying your decision making and your judgment. So taking care of this beforehand definitely eliminates so much stress and so much extra unnecessary grieving processes that would hinder one's judgment and decision making skills. One hundred percent. I could not have said it better, honestly. Yep. Well, thank you. Thank you so much, Stephanie. This has been super informational and very, very insightful. And I very much appreciate having you take some time to speak with us about this. Just remember, I'm not a lawyer and this was not supposed to be legal advice, but just things to think about. I really appreciate your time. Yes. Thank you. This has been No Napping with Nicole, and hopefully I kept you from that midday nap. Even though this may not have been the happiest of topics, it's definitely super, super important advice and advice that should be shared or considered with others. Thank you so much.