In this episode, Victor Gaxiola, Carolyn Rowland, and Kim Gaxiola discuss the importance of estate and legacy planning. They explore the differences between wills and trusts, the significance of avoiding probate, and how to align financial planning with personal values. The conversation emphasizes the need for regular updates to estate plans and the role of financial planners in guiding clients through these complex decisions.
Here is the full transcript of the podcast:
Victor Gaxiola:
Once again, thank you Matthew for that introduction and I'm so glad to have everybody here for what I think is the fourth and final leg of a four-legged stool that started with financial planning, investment management, tax planning, and now today we're gonna be talking about estate planning and legacy planning, which like I said, when you think of all four subjects which we cover and are able to provide a resilient wealth planning, really constitutes a full holistic relationship with clients and all the different facets of their financial life. So I really wanted to start there. Kim, why don't we start with you and then we'll move to Carolyn as far as like, why does establishing a will, trust, establishing, you know, an estate plan matter?
Kim Gaxiola:
Thank you, Victor, for starting that off. I have to start off with a poem, and I hope that everyone looks into it after listening to this podcast. It's by Linda Ellis, and it's called Live Your Dash. And so, I won't say the whole poem, but needless to say, when you have a headstone created, when your loved one passes away, we have a birth date, year, and death date year. But the most important thing is that dash, because that is how they live their life. And if any of you have had someone close pass away, especially if they pass away before they should have, meaning young, too young. I think you will realize how important it is to create a legacy so that their memory lives on. So that's really core in what we're doing. We are constantly talking about, as financial planners, I don't just care about what the end score is on your money. I really care about making sure that you're spending your money according to your values. And so this is just the next step in making sure that your money, after you're gone, is still living the life of your values and will provide some sort of legacy for your family. And so I like to start there just thinking about that. And that's exactly where we start the conversation with clients when they ask us to help them with their estate plans is really challenging them to think. This is a hard question, but we challenge them to think at their memorial service, what would you like your family and friends to say about you? And then the second question is, do you think they would be able to say that right now? Because a lot of people wait until they're retired to get all that stuff done. But you should be living your life now as if something may happen to you tomorrow so that you know that you're living your fullest life and according to your values and not waiting for some other day in the future to do that because that is your legacy.
Carolyn Rowland:
That's so important. And being able to tie that to your money, I think is really cool. That's like just the fun work that we get to do. Mm-hmm. Yeah, and you said it. I mean, legacy is so important, right? But for me, like my vantage point, just, you know, being in my years where I have very young children and like, I kind of apply that to my relationships with my clients and like that lens, right? But just making sure we're protected and like, that's not just life insurance, but it really comes into like that legacy standpoint where if something were to happen to you, you know, are your assets protected? Are you gonna avoid probate? Are your beneficiaries taken care of? Because oftentimes through the financial planning process, like we see so much, and we're able to uncover so much, but from a high level standpoint, that legacy, that protection, like that's where the estate planning really comes into play.
Victor Gaxiola:
Well, and I want to unpack this a little bit because we've been talking about different terms, know, will, trust, and we'll get into power of attorney. So let's start there because I think most people are pretty familiar with the idea behind a will. You know, me leaving some specific instructions if something was to happen to me if I died and didn't wake up tomorrow, what would I want to happen next as far as a will? But a trust is a little bit more complex. And so why don't we start there, Kim, share with us, what's the difference? Let's start with the will. What is its primary role of a will and what are some of its limitations?
Kim Gaxiola:
Okay, well, if we're going to talk about wills and trusts, I do want to bring up the word probate. Probate, ew, that's the ugly word that is attached to wills and not trust. You know, probate is an expensive and timely cost that requires attorneys and a court to finalize how your assets are passed down and if you have liabilities, are assessed at the end of your life. They take a long time to go through because you do need the courts and a lot of hours and a lot of prepping and it can be very, very expensive. I don't have the exact fees because I don't see that side of the equation and fortunately, most of our clients do have trusts and so we have never seen those fees go out the door. But it can be $50,000 easily and can go up. And so I think the difference, you can tell your family how you want your assets distributed in a will, but it will not avoid probate if you do that. And a will, you kind of think of a will as maybe a one-pager, maybe it's a couple pages, depends on the fine print. But a trust is gonna be a thick document, right, with a lot more detail in there. So if you wanted to even just think about that, right, if you have a will and it's like maybe this thick in terms of the paper, you know, my fingers are very close together if you're just listening and not. And then if you think of a trust and the documents that I see, okay, now we have a couple inches between my thumb and my forefinger, that's a trust. And so there is a lot more said in your trust document than in your will. And that's just a simple way to explain it. I tell people over and over again, the more you want control of your money after you're gone, the more you need a trust. Yeah, so, you know, the basics would be just to make sure that your assets are sent to the next generation or to whoever you want to have as the beneficiaries of your assets. And what happens if they are no longer here, then who are the secondary, the contingent beneficiaries on those assets? And then also what happens when you cannot administer your assets yourself? So that has to do with cognitive decline, which we are seeing so much more of today, making sure that if you have a relationship with me and all of a sudden you have no cognitive capabilities to take care of your assets anymore, who is going to help you manage that? And so that's really an important part of the whole thing as well.
Carolyn Rowland:
And just to piggyback off of that, another way I describe it to clients too is a will is something that will go into effect when you ultimately pass away, right? And it kind of dictates, like Kim said, where you want your assets to go, but also if you have minor children, it's how you elect who will take care of those children if they're still minors. The trust can be created prior to death. And so it's just a great way, again, to avoid probate. I think we'll talk about like maybe not everybody needs a trust but really important in certain situations. So that's just like my little extra tidbit.
Victor Gaxiola:
Well, I was going to add, and then you bring up a good point there because it is a question that we get fairly often is that people really understand, I think they understand the will more than anything. And I remember when Kim and I first got married and it really wasn't, I think, until we had children because we started thinking about their lives. And if something was to, know, unfortunately happen to Kim and myself, we wanted to provide a will or have a will to have some instructions as to who the kids would be with. And that created a situation where we needed to have a serious conversation and saying, look, if we get on an airplane and the airplane doesn't land the way it should land, who would take care of the kids? And so it was a real serious conversation and we made a decision and then we crafted the will. And it provided a lot of peace of mind. Anytime Kim and I would fly off to a conference or go off on vacation, it was just her and I on the airplane. The thought did cross my mind, know, little ones at home, know, what would happen to them and would those wishes be carried out? So I think people understand a will. The trust is a little bit more complicated and I think one of the questions we get often and I'd love to get, we'll start with Carolyn just to get your perspective on this, is at what point, like at what point in the wealth stage or let's say accumulation of assets should the person really be seriously considering getting a trust?
Carolyn Rowland:
I don't really tie it to a specific number. I really look at the level of assets or type of assets somebody has outside of retirement accounts. So I'm specifically talking about real estate and then those non-retirement brokerage accounts, those non-qualified accounts. And then if children are involved, because it's those types of accounts that to me flag that like probate, probate, probate, right? And if the goal is building wealth, like we know we ultimately want to protect those assets. And so through like, you know, financial planning and talking through all of that, that's kind of my indicator where, hey, we need to explore the option of a trust and if it makes the most sense for you. And so we ultimately will, you know, fund a trust with real estate with those non-qualified assets. Kim, feel free to like take it away.
Kim Gaxiola:
I'm thinking about snowbirds who have, live in Illinois or Wisconsin. You know a couple of those, don't you Carolyn? And fly away for the winter, which is about to come and they have a second home in Florida or Arizona. I don't know anybody like that. But those are clients that have real estate assets usually in two states. And that's a red flag, right, for probate. Two states now, you're going to have to go through that. And so, yes, that was a great example. You know, another thing to consider is because some of our clients do have really large IRA balances and are living their lives mainly on their IRAs. And so, again, as we think about those clients who are, what is it, snowbirds and maybe their only assets outside their IRAs are their real estate, would think, maybe I don't need it, it's just my two houses and their IRAs have their own beneficiaries. But that is still important, very important for those real estate assets to be within a trust. And so, let me just back up and clarify and say, you your IRAs, because this is a very common mistake that people make when they are doing their estate planning, is to think that just because they have a trust, their IRAs are going to be in the trust and be distributed exactly like the trust. And that is not the case. So, a lot of people, well nowadays it's more rare, but people have jobs and have 401k plans and have beneficiaries on those, and they may not even touch that for 20 years. But a lot can happen in 20 years if you go through a divorce, if you have children, if you have all of these things, and they're not looking at their beneficiaries or updating them. But in any court case after you pass, the IRA beneficiary or the 401k beneficiaries rule. It doesn't matter if your life changed, you didn't change your beneficiaries, and that's what rules in the court. So it's really important to make sure that you understand your qualified accounts need to be updated like your trust.
Victor Gaxiola:
Yeah, I think that's very important point and there are many documented cases of people passing away expecting that the wishes of the estate plan are going to be followed and they are for those assets but when it comes to and sometimes significant qualified assets and IRAs where the beneficiary changes were never made you have a number of documented cases of ex-spouses receiving large amounts of money because they never took the time to update their beneficiaries on their IRAs. So, very costly mistake. So, note taken here. Make sure that if you have a life change, and this is why all our meetings with clients, whether it's an investment meeting or planning meeting, always starts with what's new, what's changed. Because those little modifications translate to maybe some activity in changing beneficiaries or modifying percentages or what have you. It's just important to make sure that we've got the most up-to-date information.
Kim Gaxiola:
Right, and it's why when you're doing estate planning and you maybe have created a trust 10 years ago, why it would be important to look at it again, because things change. You may not have had grandkids and now you have grandkids or whatever the situation is, but they constantly do need to be reviewed.
Victor Gaxiola:
Yeah, and you bring up a good point there because my parents had done their initial trust maybe about 15 years ago and we only recently re-updated it because there are, you know, life changes but there's also changes when it comes to estate or laws themselves that might change that make it worthy of revisiting a trust. So how often do you think that that makes sense? I mean, I think some attorneys will tell you every 10 to 15 years or so. So that sounds about right to me. What would you say to someone that says, you know, if I've got a will or trust, or I should say a trust that's over, you know, 10, 15, 20 years old, is it time for them to take a look at it again?
Kim Gaxiola:
Yeah, I would say, you know, it's funny, 10 to 15 years maybe when you need to make a change on your trust. But I think 10 years is waiting too long, at least to just do a beneficiary update, you know. Or a big red flag would be when estate planning laws have changed and the actual number of how much is excluded from estate taxes changes as well. We've seen big variance in how much is excluded from estate taxes in the past, gosh, 10, 15 years, where at one point it was an issue for everyone and then it's an issue for hardly anyone and you know so I would say it definitely needs to be updated when there is tax law change with the state taxes but even more so than that, your family probably changes every five years, give or take. And it's just important to make sure that everything is updated, that your trust looks like your IRA and your IRA like your qualified accounts or what have you. Think about that. The other thing is, Carolyn can talk about this, is just the whole tax treatment. Your non-qualified accounts, your trust accounts are treated a lot differently than your IRA accounts when you pass away. And that alone is a strategy that, as a financial planner, I'm highly aware of that and I'm talking to my clients all the time about that. If you have large balances in those IRAs, wow, that's wonderful money that once you kind of know that your kids are going to be all right, use some of those funds to fund your legacy. And when we talk about legacy, you know, what are those passion projects? What are you volunteering your time with? And perhaps giving contributions to nonprofit organizations because that money goes to them without having to pay taxes. So we run scenarios. I just ran one yesterday and I'm starting to do more of these. Wow, it's really impactful how much you can do for a nonprofit. And me speaking now from the nonprofit side as a board member of a nonprofit and looking at this going, how come we're not talking about this more often? This is unbelievable what we can do for those organizations that we love.
Carolyn Rowland:
Absolutely. And what you're talking, what Kim's talking about is like some more complex, like, you know, charitable giving and trust strategies that apply to the overall state plan. But, you know, I've seen it firsthand where, you know, certain states do have lower estate tax exemption limits, right? Specifically talking about the state of Illinois. And so, you know, as your net worth grows and you approach those limits, you know, we want to kind of start being creative because the last thing we want is for estate tax to erode your legacy. We want to make sure that, again, your legacy aligns with your values, and that's kind of where all this planning comes in. So just making sure that your beneficiaries received as much as possible or charities, things like that. So that's another thing that we're kind of constantly keeping tabs on too.
Victor Gaxiola:
So there is that distinction, I think, between estate planning and legacy planning, but they are tied together in the same vehicle, which is really using the trust in order to express that legacy or the need to want to. I think in our website, we describe legacy planning as passing on your values, beliefs, and your life's work. And so I know that it can be kind of an abstract. You know, to translate that into an abstract or actually express that in the will and in the trust can sometimes be challenging. how does someone illustrate, let's say, through a trust, the importance of education or community or charity or the things and the causes? What are some creative ways, Kim, that you've seen perhaps how people have been using a trust to express those desires?
Kim Gaxiola:
Okay, if you are really fascinated by this topic, go watch The Ultimate Gift, because that was the ultimate creative option for passing down funds to the next generation and making sure your values are in there. And so I will just put it at this, I bought that book for many people and they've really enjoyed the read, because it's a book or a movie. And there's a couple, you know, of them. You know, I think it's all in the wording, right? And who you are going to have be your trustees. You could carve out some of your money and create a foundation for charitable organizations. Then you could have one of your family members, a grandchild or something, if they're of age, be the, overlook that, be the trustee of that and what have you. These are all ways that you can make sure that your legacy continues. But it's really important though not to just depend on a document, but to make sure you're having those conversations with your family and friends prior to you going. We used to, we did those conversations a while ago. Let's talk about money and let's talk about money and family. Let's talk about money and your parents and children and all that kind of stuff. And I think, if you're not having those conversations, and like we always say, you don't have to tell them the exact numbers, but just have the conversations, what's important to you, and what their responsibility is with this gift that you're giving them.
Victor Gaxiola:
I would I would add kin to that though that there is a certain amount of specificity when it comes to the you know creating a trust because one thing that I remember taking away is that it wouldn't be enough for someone to say hey you know I want this to go to my kid and I want this to go to my nephews and this to this charity oh and education is important to me so I want to allocate a percentage to Columbia University you couldn't just say Columbia University that they need specificity because I think if you did a Google search of how many Columbia universities there are in this country, you'll probably come up with like 40 different names. And so just to make it easier for the person that's, you know, the executor of your estate that's doing that to be very specific, to say Columbia University in this city, in this town, even down to a department within the university. And then that way, you know that those wishes are being carried out.
Kim Gaxiola:
Absolutely. Most people that have high levels of wealth, it's never just to the university, it's to specific schools or athletic departments, you know, that they want their name on that gym or what have you. So yeah, it is. And you know, I'll go back since we're having this part of this conversation there. I just read this morning an article that was done by the Investment News Media. And they had reviewed AI and how they were helping people with their estate plans. And so they rated, you know, chat GPT, CLAW, Google AI, and all of the different AI chat bots that are out there. They rated their responses and their answers to over 30 different estate planning questions. And the best performer was Claude, which I've never even used Claude. And with a grade of an A to F normal school grading code system, Claude received 69%. So not there right now.
Victor Gaxiola:
Wow. I only recently started using it. Yeah, I only recently started kind of using it and it is extremely user friendly, but it does like all have certain limitations and such. So I'll have to continue experimenting on that.
Kim Gaxiola:
Yeah, I think if anything, maybe it helps you if you're going to use it, like think about the questions and maybe it helps you create topics that you want to go over with the beneficiaries of your assets. But it, you know, they're not lawyers.
Victor Gaxiola:
Yeah, yeah, I'm not sure if I want AI to write my trust. Probably wouldn't hold up in court. So not a good way to go. But I do want to shift gears here just because I want to talk about the role that we play. mean, essay planning, legacy planning is somewhat new to us. It's not new to us from the standpoint that it has always been part of the conversation, especially on more advanced financial planning. And there is, like I said, a coordinated effort of working with us.
Carolyn Rowland:
It's true.
Victor Gaxiola:
but then also working with an attorney, working with someone who's actually going to craft the documentation. And so I wanted to impact a little bit about the importance of that coordinated effort and the role that we play in that. So Carolyn, when it comes to advanced financial planning and then we start going into estate planning, a legacy planning, what role do you think we play in helping people with those conversations?
Carolyn Rowland:
Yeah, I mean, we are ultimately guiding our clients to find the right resource to help facilitate that estate planning legacy planning process. So a lot of times that'll mean determining if it makes sense for them to go find a local attorney to help drafting those estate documents or, you know, we've rolled out a service, estate planning service to offer will-based plans or trust-based plans to our clients that maybe aren't overly complex, but we partner with a service called Encore Estate to help facilitate that. you know, it's, we're able to work with clients in all 50 states. It's, all documents are drafted and overseen by attorneys. So it's, it's not us drafting these documents, but like we're just help here to help facilitate that whole process. can you, do you have anything to add to that?
Kim Gaxiola:
Yeah, I think that that's a, it's kind of a really exciting place for us to be because, know, lifetimes we spend with our clients. And then at the end, we see the assets be passed down from time to time. And so I think having us be a part of this process where I feel like we're, I don't know if we're a translator or a liaison or what have you, that seems to be where we fit in is to, because we know our clients so well, to be able to like kind of... I guess ask the right questions for them to lead us to the answers. We know what's important to our clients. And sometimes they don't think of it and you if you just walk into an attorney's office and they just produce this trust for you. Unless they're doing the deep work to get to know you and what's really important to you, how do they know what we really do know? And so making sure that we ask those questions and ask whether they want to incorporate those things into their estate plan, I think is a really cool place where we sit and we can transfer the knowledge that we have to the attorneys to really carve it into their estate plans.
Carolyn Rowland:
And I'll also say, sorry, one last thought about it. I think too, like the importance and the role that we play is like, we have an inventory of our clients' assets so we can make sure that everything gets, that trust gets fully funded, that there's no stragglers, that we can review IRAs or other qualified accounts to make sure that beneficiaries match the trust. So I think that's another important role too, that's like we truly can help facilitate the execution.
Victor Gaxiola:
You know what I find? go ahead.
Kim Gaxiola:
Yes, and here in California, I'm so excited because, well, if you're in the Bay Area, we have Lucas who can be the notary of the documents. And I bring this up, you laugh at that, but we have had clients come in and say, I have an estate plan and they bring in the documents and they've never been notarized.
Carolyn Rowland:
Mm-hmm. That's awesome.
Victor Gaxiola:
Ha ha ha.
Kim Gaxiola:
document is just a draft if it hasn't been notarized, right?
Carolyn Rowland:
Yeah, sign it, notarize it. Yes.
Victor Gaxiola:
You know, mean, for me, think that the it to me comes full circle. I mean, if we start with financial planning and then the investment management, which gets them from point A to point B to reach that destination where they hope to achieve as far as their finances. And if a person receive, you know, is able and we're good stewards of their money and they get to a place where they are meeting all their income needs and living the lifestyle that they had envisioned for themselves in retirement. then the next stage is really what carries forward and that's where the legacy planning is. So for me, much of what we challenge our clients with is understanding what their why is. And I think that that comes out of the estate plan and the legacy planning because if they've met all their obligations to be able to live, drive and survive, then this is really now what really matters to them. And so I'm always, in some ways kind of moved in touch when I hear about their passion for certain charities or certain organizations, it creates a much greater composite of who this person is. And it motivates me more as I discover more about what really matters to a lot of our clients. I think it enriches the relationship. And sometimes they'll talk about a specific charity or group or medical or research that is being done and it's just fascinating. And so I think that in some ways, and we've discovered this now and doing this business for so long, that oftentimes money translates to love. you know, in some ways or form or another, whether that's love of giving it to your children or grandchildren or a specific charity. It's you're almost you're like voting with dollars in some ways. But what you're really doing is you're expressing what your values are. And I think that at the end, that's really what it comes down to is what really matters to you. And I think that this process of establishing a will and a trust uncovers that. So it does start, I think, with some very challenging conversations sometimes for people.
Kim Gaxiola:
Mm-hmm.
Victor Gaxiola:
So, I mean, we talk about what role do we play. I think initially it starts with providing some guidances. These are the kinds of conversations you're gonna wanna have at home with your spouse, with your loved ones. This is why we're coming up to Thanksgiving, we're coming up to the holidays. And this is a great opportunity for you to have those conversations, to have that discussion if you haven't already, because the trust then just starts defining it. actually starts putting pen to paper, or in this case, keystroke to paper, or keystroke to digital paper, that eventually will be executed with an attorney and actual signatures. And what I find most, for most people, and this is just my experience of anybody that goes through the process, is the massive peace of mind that comes when they get their binder with their trust. And for those that aren't, are driving in the car again now, my forefinger and thumb are very thick. Think of a binder, okay? Just with all the paperwork and everything's done. And it's more than just the will and the trust, it's healthcare directives. And we haven't even talked about that. Specific instructions is what to do if you get to a situation where you're at a hospital. Do I get resuscitated or not? So it really is a series of instructions. And I think that that's one of the ways I've heard trust described the best.
Carolyn Rowland:
Hmm.
Victor Gaxiola:
Think of it as a instruction manual for money.
Kim Gaxiola:
Yeah, yeah, I like to think of that's such a nicer way of putting an instruction manual. I think of the word control.
Carolyn Rowland:
Yeah.
Victor Gaxiola:
Haha, yeah.
Kim Gaxiola:
That's so funny. So I have a challenge for anyone listening to this podcast is to next time you are with your friends and family, maybe take a hundred dollars and maybe do it with Monopoly money and have an envelope system and say, okay, how much of this money do I want to, if you were just given this money, where would you spend it? And you know, think about it. I did this with a client one time and it was like, you know, there was a family envelope, there was a charitable envelope, and there was just all sorts of different envelopes. And so, you know, we went through this exercise and I understood what her values were. And so that's how we decided to look after her finances now and in the future. But you'd probably be surprised how many people would say, I'm gonna give $100 to the food pantry here locally or wherever their passion is. But if you're doing that while you're alive, why not do that when you pass away too?
Victor Gaxiola:
Well, this has all been so good, I think. And again, you know, some additional resources, obviously our website, you can find it under some of our areas of focus and the service areas that we concentrate on. The estate planning, legacy planning is, you know, is like I said, that fourth leg of the stool. And Kim and Carolyn, you know, for someone who's listening today and is interested in maybe probably feeling overwhelmed, you know, with everything we've talked about, what would be the first, the best first step, you know, to get started with exploring the development of a will and trust.
Kim Gaxiola:
I think it always starts, of course we're biased because we're financial planners, but I always think it has to start with the inventory of assets, right? And liabilities and understanding what is your financial situation. I don't think anybody really wants to plan what's going to happen after they pass unless they understand if they have enough for their own life.
Carolyn Rowland:
No.
Victor Gaxiola:
Mm-hmm.
Kim Gaxiola:
And so that's like really key is let's have those conversations because if you go to the state planning attorney first You're you're gonna get tasked with a lot of homework that we're gonna already work with you and have available and ready
Carolyn Rowland:
And the only thing I'll add is I would encourage somebody to book a discovery call with us. That's one of the links we have on our website. It's 30 minutes risk free. Like just get to know us and the services we offer and see if they're a good fit. You know, if your question is, I need an estate plan? The answer is probably yes. But like the specifics as to like what exactly you need, like that's a quick conversation that we can have. And then it kind of leads into like, yeah, the more values based. questions that we know to ask and we can get a really good idea of what somebody needs.
Kim Gaxiola:
Yeah, so, oh, go ahead. I just say it starts off, it does 100 % start with financial planning. I'm sorry.
Victor Gaxiola:
Yeah, and I think, go ahead.
Carolyn Rowland:
It does. No, it does. It's all about it. You have to...
Victor Gaxiola:
Okay, we're getting a bias here. We're getting a bias from our two CFPs. Well, I was just going to add that it is a process. mean, like all things, even planning is a process. Investment management, like if you haven't picked up anything on all of the three other legs of the stool, everything is a process that is really a series of dialogue. It's a series of conversations. This one is probably one where, you you'll have some
Kim Gaxiola:
your plan.
Carolyn Rowland:
But, I mean, we know.
Kim Gaxiola:
Hahaha
Victor Gaxiola:
difficult and challenging, let's say, conversations at home at first. But as always, we're here to help guide. And we said we're not attorneys, so we're not actually drafting or creating the documents and such, but I think we can provide some guidance as it relates to the kinds of conversations you're gonna have. And as Kim said, starting with the inventory of assets, you alone will probably know what matters to you as far as what charities to give to or what. family members are likely to benefit from, say, the estate plan in the end. But I think that it comes full circle. And this is why I'm so happy that we actually can offer this additional service is because, again, it goes back to answering the people's why. And now having a person who has worked so hard or a couple has worked so hard to develop a nest egg, and now they're living their lifestyle and they start thinking, okay, what's next? How will I be remembered? And how can I use this wealth that I've created to make the world a better place or to make lives easier for people? That to me really comes full circle.
Kim Gaxiola:
Yeah.
Carolyn Rowland:
Mm-hmm.
Kim Gaxiola:
And I'll add one last thing. If you're married, I always see like maybe one spouse that takes a little bit of a backseat approach on the finances. so maybe our job also is to moderate and extract the wishes of both spouses in the relationship. Because, you know, it's a life built together and we want to make sure that everyone is heard.
Carolyn Rowland:
Mm-hmm.
Victor Gaxiola:
Great. Well, if you'd like to learn more, as Carolyn said, the best places to be on our website, right at the beginning there's at the very homepage, there's a start today button, which really will go into a calendar link that would allow you to have, like she said, a no obligation 30 minute conversation with any one of us, depending on availability. And we're more than happy to have that conversation. As always, approachability is extremely important to our team. We want to help you unpack, you know, these different. which are often complicated areas, whether it's financial planning, investment management, tax planning, or in this case, estate and legacy planning. These are all areas that we've developed a rich amount of resources and we have a very deep bench. So if it's an area that we don't even focus on specifically, we usually know someone who does. And I think that that's the important takeaway is that we're here to help you through this, coach you through this.
Carolyn Rowland:
Mm-hmm.
Victor Gaxiola:
And so please take a look at our website for more information. As always, I encourage everybody to subscribe and leave a review. Follow us on all our social media channels, which Matthew will share with you at the end of the podcast. But again, Kim and Carolyn, thank you so much. I think this was extremely valuable and I hope you have a great day.
Carolyn Rowland:
Thank you, Victor.
Kim Gaxiola:
Thanks.
### End of Podcast
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