Gena Merrill is a lawyer at the Oakley Law group in Burbank, specializing in estate planning. With a background in law and a passion for helping others, Gena decided to focus her practice on estate planning to assist individuals in avoiding negative outcomes and providing them with a sense of peace and confidence. With experience in cases where individuals have put off estate planning, resulting in consequences such as Alzheimer's diagnosis and the need for conservatorship, Gena is known for her straightforward, nice, and fun approach to helping clients navigate the importance of estate planning.

Listen to this informative Legacy Leaders episode with Gena Merrill

about estate planning misconceptions and misinformation.

Here is what to expect on this week’s show:

● Gena explains, estate planning is important for homeowners, especially those with children, to protect their assets and ensure their wishes are carried out. It is a common misconception that estate planning attorneys may draw up wills and trusts without ensuring they are properly funded, leading to probate and rendering the planning efforts useless.

● Misconceptions and misinformation about estate planning are common on the internet, so it's important to have a trusted advisor to help navigate the process. Clients often have misconceptions about the effectiveness of revocable living trusts in protecting assets from lawsuits and the difficulty and expense of passing away without a trust.

● Many clients mistakenly believe that placing their assets into revocable living trusts will shield them from lawsuits. Gena ensures that her clients comprehend the reality. Another common misconception among clients is the difficulty and expense of passing away without a trust.

● The importance of estate planning and the potential consequences of not having a plan in place are highlighted by the need to regularly review and update estate plans due to changes in family structure, representatives, and tax and property laws. It is crucial to properly fund the estate plan to avoid probate.

● Gena explains, the probate process can be challenging and time-consuming, especially when assets are not placed in a trust. It is crucial to have a comprehensive estate plan and ensure that all assets are properly transferred into a trust to avoid probate and its associated difficulties, stress, and expenses.

Connect with Gena:

Website: https://oakleylawgroup.com/our-firm/staff-profiles/

With your Guest Host: Steven Step

Steven H. Step is President of A Step Ahead Insurance & Financial Services. Steve has helped more than 285 clients grow their wealth without risk or worry, reduce their taxes, and achieve their dreams of financial security. His clients on track to building more than $86 million of additional wealth through safe, proven financial strategies. Steve's clients think of him as their "secret weapon," helping them build and safeguard their wealth. One of only 250 financial advisors in the country who have successfully completed the rigorous training program and continuing education required to become a Bank On Yourself™ Authorized Advisor, Steve has consistently ranked as one of the top 25 Bank On Yourself Authorized agents over the past 10 years and has been in the financial services business for 28 years. He holds a MBA in marketing from the University of Southern California and a BA in Economics from Denison University. Steve's articles on financial planning have appeared in many publications including The Daily News and Senior Life.

Connect with Steven:

https://linkedin.com/in/stevenstep

Learn more about your ad choices. Visit megaphone.fm/adchoices