I've Been Meaning To Do That

Your estate plan needs to be as individual as you. In this episode of I’ve Been Meaning To Do That, host Oscarlyn Elder sits down with Trista Shigley, Fiduciary Division Director of Truist Trust and Estate Planning Group, to discuss how estate planning done right not only grants future generations with a legacy, but also reflects who your family is. They discuss (time stamps are approximate):

Defining your values and your wealth transfer goals (02:21)

Basic estate planning documents (6:18)

Different parties involved in a trust (13:14)

Tackling uncomfortable conversations (16:14)

Estate tax exemption levels and sunsets (19:32)

Types of irrevocable trusts (22:56)

Understanding GST and SLAT for wealth transfer (25:18)

Closing thoughts from Oscarlyn (29:51)

The podcast team has created a template for taking notes on each episode.

Podcast Worksheet

Learn more about how the Business Transition Advisory Group can help support your family business, and stay tuned for the next episode in this series on running a family business, which will cover how to find the right roles for different family members.

Have a question for Oscarlyn or her guests? Email [email protected]

Marietta Lee, CEO of The Lee Company, says if you looked at all the cousins and siblings in her generation of the family, she’d be the last person expected to join this precision hydraulics company, much less step into the top executive role. In this episode of I’ve Been Meaning To Do That, host Oscarlyn Elder talks to Lee about her unexpected path from broadcast journalism to engineering graduate school, the unwavering directives her father gave her, and the ways she’s preparing for the future with the next generation. It’s an intriguing conversation you won’t hear anywhere else.

They discuss (time stamps are approximate):

• Marietta’s first job at The Lee Company, and how it galvanized her determination to build a career in an entirely different field (02:52)

• College, law school and going undercover with a purse cam and a disguise to catch government employees misbehaving in Houston (04:48)

• No interview, big pay cut, constant scrutiny: Taking a leap of faith into the family business (7:24)

• Marietta’s path to CEO (17:18)

• Stories about past and future generations (21:11)

• Finding time for strategic thinking (27:49)

• Final thoughts from Oscarlyn (28:45)

The podcast team has created a template for taking notes on each episode. You can find it at:

[www.truist.com/resources/wealth/financial-planning/personal-story-unexpected-success]

Have a question for Oscarlyn or her guests? Email [email protected].

Ready to keep your family business’s momentum going into the next generation? In this episode of I’ve Been Meaning To Do That, host Oscarlyn Elder talks to Jeremy Spidell of the Truist Leadership Institute about how you can help younger family members grow into confident leaders as part of your succession planning. They discuss (time stamps are approximate):

• The difference between understanding and leading a business (04:06)

• Building leadership capacity (07:30)

• Cultivating self-awareness (10:39)

• Why leaders need emotional intelligence (19:08)

• Overcoming imposter syndrome (22:22)

• The importance of purpose (28:39)

• Jeremy’s commitment to update his will (31:25)

• Final thoughts from Oscarlyn (33:23)

Learn more about how the Truist Leadership Institute is empowering people to lead.

The podcast team has created a template for taking notes on each episode. You can find it at:

www.truist.com/resources/wealth/financial-planning/preparing-next-generation-leadership

Listen to the previous episodes in this series on running a family business:

• Define success for your family business

• Develop the family enterprise

Have a question for Oscarlyn or her guests? Email [email protected].

The Center for Family Legacy’s David Herritt, who was previously on the podcast to talk about navigating business transitions, rejoins host Oscarlyn Elder to share tips on bringing your family members into the family business. In this second part of our series on running a family business, they discuss (time stamps are approximate):

• Introducing young family members to the business (03:14)

• Effective communication within families (07:17)

• Why you need a family employment policy (11:27)

• Defining the “business of family” (16:35)

• Roles for family members outside of the business (20:58)

• What David’s been meaning to do (26:17)

• Closing thoughts from Oscarlyn (28:50)

Learn more about how the Center for Family Legacy can help you sustain wealth for future generations.

The podcast team has created a template for taking notes on each episode. You can find it at:

www.truist.com/resources/wealth/financial-planning/developing-family-enterprise

Check out the previous episode in this series on running a family business:

• Define success for your family business

And stay tuned for the conclusion next month on empowering the next generation of leaders.

Have a question for Oscarlyn or her guests? Email [email protected].

What does a successful family business look like? In this episode of I’ve Been Meaning To Do That, host Oscarlyn Elder talks to Russell Sanders of the Business Transition Advisory Group at Truist Wealth about how a family business can achieve goals that may benefit the family financially and personally. They discuss (time stamps are approximate):

• What the Business Transition Advisory Group does (1:49)

• The characteristics of a family business (4:13)

• How to bring your family’s values to your business (9:13)

• Setting goals for your family (11:36)

• Establishing a decision-making process (18:47)

• How to define success (21:47)

• Why Russ needs to plan a family vacation (26:05)

• Final thoughts from Oscarlyn (27:46)

Learn more about how the Business Transition Advisory Group can help support your family business, and stay tuned for the next episode in this series on running a family business, which will cover how to find the right roles for different family members.

The podcast team has created a template for taking notes on each episode. You can find it at:

http://truist.com/resources/wealth/financial-planning/define-success-family-business

Have a question for Oscarlyn or her guests? Email [email protected].

In this episode of I’ve Been Meaning To Do That, hear insights on how you can care for yourself and your loved ones as you age. Host Oscarlyn Elder talks to Adam Felts, a researcher at the MIT AgeLab, about ways to deal with the financial and emotional challenges of caregiving.

As your teens make the transition to the adult world, give them a sound foundation of financial literacy. In this episode of “I’ve Been Meaning To Do That,” Truist Wealth’s Emily Haenselman and Karen Kahn chat with Oscarlyn Elder about how to talk to your teens regarding spending, saving, and making a college choice—and legal steps you should take as they reach 18.

Revitalize your New Year’s resolutions with renewed focus. In this episode of I’ve Been Meaning To Do That, host Oscarlyn Elder talks to Dr. Wendy Wood about the science of habits. The author of “Good Habits, Bad Habits: The Science of Making Positive Changes That Stick” shares how habits form, why bad ones are so hard to break, and tips on developing good financial behaviors. They discuss (time stamps are approximate):

• Why habits are important (1:58)

• The difference between resolutions and individual decisions (4:17)

• How habits form (7:21)

• Reframing to establish good financial behaviors (14:05)

• How long it takes to form and break habits (19:43)

• The importance of adding friction (24:33)

• Myths about habits (31:45)

• What Wendy has been meaning to do (37:27))

• Final thoughts from Oscarlyn (39:12)

To learn more about habits, read Wendy’s book:

Good Habits, Bad Habits: The Science of Making Positive Changes That Stick

The podcast team has created a template for taking notes on each episode. You can find it at:

http://truist.com/resources/wealth/financial-planning/how-to-form-good-habits

Have a question for Oscarlyn or her guests? Email [email protected].

Living your purpose can take many routes. In this episode of I’ve Been Meaning To Do That, host Oscarlyn Elder talks to Truist Wealth’s Colleen Silver and Bill Lyons about how people are making a difference through their investment choices, charitable activities, and businesses. They discuss (time stamps are approximate):

• Introducing Colleen and Bill (1:50)

• How to explore your values (3:50)

• Techniques for sustainable investing (7:10)

• Connecting purpose to philanthropy (12:40)

• Families and community impact (15:30)

• Engaging younger generations (21:50)

• Starting the conversation about sustainable investing (23:30)

• The four elements of effective impact (28:00)

• Trends in sustainable investing (31:50)

• How families are making an impact in their communities (36:30)

• Action steps for expressing your purpose (39:20)

• What Colleen and Bill have been meaning to do (42:10)

• Final thoughts from Oscarlyn (43:30)

Want to dig deeper on how to make an impact? These documents can help:

• A glossary of terms about sustainable investing and community impact

• Our four-step process for making and sustaining an impact on your community

• A template for taking notes

You can find all these documents at:

Truist.com/resources/wealth/financial-planning/how-purpose-can-drive-your-impact

Have a question for Oscarlyn or her guests? Email [email protected].

If you want to learn more about how stocks, bonds, and other investments work together to help you achieve your long-term financial goals, listen to this episode of I’ve Been Meaning To Do That. Host Oscarlyn Elder talks to Truist Wealth’s Trey Smith and Niles Greene about the basics of building a portfolio. They discuss (time stamps are approximate):

• Introducing Trey and Niles (1:20)

• Saving vs. investing (3:10)

• Volatility and the long-term trend of stock prices (6:50)

• How to assess and manage investment risks (13:20)

• Striking a balance between risk and reward (18:55)

• Why investment liquidity matters (23:50)

• Risks with bonds (25:40)

• Managing risk with dollar-cost averaging and diversification (28:50)

• Adding alternative investments to a portfolio (33:00)

• What Niles and Trey have been meaning to do (39:00)

• Final thoughts from Oscarlyn (41:40)

The podcast team has created a template for taking notes on each episode. You can find it at

Truist.com/resources/wealth/financial-planning/the-role-of-investments-in-your-financial-plan

Have a question for Oscarlyn or her guests? Email [email protected].