Ep 2: Estate Planning Guidance & Tips with Steve Brown

Leaving a legacy behind isn’t something everyone wants to do, but if it’s a priority for you, then estate planning is a big piece of that process. Whether you’re a business owner or an individual, estate planning attorney Steve Brown will help you get a better grasp of the process and why it’s so important.
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We meet with many people that spend decades working diligently and sacrificing in order to build a nest egg that will allow them to retire how they choose. Not all of those people want to leave behind a legacy, but for those that do, putting a plan in place is essential for making sure your assets go where you want.

Estate planning often gets overlooked but it shouldn’t. Finding an estate planning attorney that can help you build a will or a trust will save you a lot of worry and your loved ones a lot of stress.

To help us understand the importance of an estate plan and how the process works, we asked Steve Brown to join us on the podcast. A partner at Lewis Brisbois Bisgaard & Smith LLP, Brown has nearly 40 years of experience helping people with their estate plan so he has plenty of wisdom to offer.

You’d be surprised to find out how many people either don’t have an estate plan at all, have one that’s partially completed, or one that hasn’t been updated in years. Think about how much your life can change from year to year. Many of these life events call for a review of your plan and that’s something we’ll talk about on the show.

Brown will also explain how he works with clients to build a business succession plan and we’ll run through the five levels of asset protection. These are things that every business owner needs consider and this episode will help explain the process for setting these things up.

You have plenty of options of people to work with when you build an estate plan so we wanted to introduce you to someone that practices in Kansas City and someone we trust.

If you want get in touch with Brown and his firm, you can find all of his contact info here.

Check out the timestamps below to skip around to specific topics on the show.

[0:38] – Estate Planning Attorney Steve Brown joins the show today.

[1:06] – Background on Steve 

[1:45] – How did you decide to be an attorney and specifically estate planning?

[3:20] – What approach do you take to the job?

[5:46] – What is the net worth of your typical clients?

[6:42] – How does the lifespan process work?

[8:55] – Everyone has a default estate plan once you turn 18.

[10:20] – Bernie shares a story of an inheritance at 15 years old and how it caused issues within a family.

[12:10] – How can someone structure an estate plan to have control over how the inheritance is spent?

[13:48] – What’s the process he uses that sets him apart from other attorneys? 

[16:54] – Many people have an unfunded trust.

[19:20] – Business succession planning

[22:59] – 5 levels of asset protection

[25:01] – What’s the process of determining your level?

[28:02] – What estate planning advice would you give business owners?

[29:15] – Best way to get a hold of Steve for any questions.

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HOST

Bernie Wurts

Since 1994, Bernie Wurts has been working with individuals and business owners to help them map out their retirement and succession plan.

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