Host John Chapman of the John Chapman Show talks with Morgan Smith, Financial Advisor at WorthPointe Wealth Management. Morgan joins John in a valuable discussion about how to take care of elderly parents, settling their financial affairs and their estate, and how to take a proactive approach.    Episode Highlights: How did Morgan Smith come about becoming a financial advisor?  What has Morgan Smith gone through in his life in the last 5-10 years?  How old was Morgan’s dad when he developed dementia?  What did Morgan’s estate look like prior to his dad’s health issues?  At what point did Morgan have to get more involved in his parent’s estate?   What are some of the things involved in settling a parent’s estate?   What is the role of a private fiduciary or a corporate trustee?  What is the emotional connection generally like to financial assets?   Morgan Smith provides resources for estate planning. Get the courage to have the family meeting about estate planning.    3 Key Points: Figure out who is in charge of a parent’s estate.  Private fiduciaries can file tax returns, gather investment statements, and assign investments over.  Many people build assets that are difficult to divide such as a business or real estate.    Tweetable Quotes: “If you do good work, that niche comes to you and it can develop naturally.” – Morgan Smith “It’s one thing to have the trust in place. But you really got to understand and have access to things like durable power of attorney for healthcare directives.” – Morgan Smith (Preparing for parental decline in health) “Probably the best support is maybe reading a book. Talking to other people that have been through it, which is exactly why I am doing what I am doing.” – Morgan Smith   Resources Mentioned: Linkedin: John Chapman Morgan Smith: Linkedin Worthpointeinvest.com See omnystudio.com/listener for privacy information.

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