Elder Law & Estate Planning Radio Interviews

Proud to be Live on 105.9 FM with Bill Osborne

Paul Hamilton, Esq.

Founder of Hamilton Trust, Estate & Elder Law, Paul is a lifelong learner dedicated to simplifying estate planning and elder law through education, helping families navigate life’s unpredictable changes with peace of mind.

Radio Interview (December 8, 2022)

Transcript
Bill Osborne
Welcome back to the morning. Just a few minutes after the 8:00 o’clock hour and wow, the crazy crazy holiday season as this kind of happens a little bit and I double booked. I mentioned Josh Burke was coming in, but so is Paul Hamilton. And guess what? They’re both here at the same time, so we’re going to kind of cover a little bit. With Paul, of course Paul Hamilton with the Hamilton estate planning. Then we’ll get over to Josh with Burke landscaping and talk about landscaping and lawns and that kind of thing. And while we were talking here off air too, you know, Paul just realizing you know. People don’t think about estate planning sometimes and it’s just Oh well, I got. Josh was just saying I got this many kids and we just got a dog and then all these different. If you don’t plan for that. Stuff who does who? Who takes care of that. If you don’t plan for it.

Paul Hamilton
Good morning, good morning. Well, I always tell people that if you don’t have if you don’t have a plan, the government does. So, so do you want to use the government’s rulebook or do you want to draw your own up? And that’s what we do. We help people plan for those things. And yeah, it’s it’s life gets in the way. Life is busy, particularly this time of year when everybody’s going to the kids functions in school and and holiday parties at work and and you name it it. And it’s really a very busy time. But it’s also a time where children are visiting with their parents a little bit more, and they’re starting to see it’s not uncommon for us to start getting more calls saying, hey, I see moms starting to slip some dad’s starting to slip some we need to do some things and and I’ll tell you you’re you’re well advised to do that because if if you don’t put things in place and and mom or Dad or grandma or whoever slips into dementia into an area where they can’t, you know they don’t know what they’re doing then we can’t do planning or it makes it more difficult to do planning.

Bill Osborne
And sometimes Paul. You know you say you you notice mom or dad. Slipping a little bit. Sometimes it’s very quick that that happens.

Paul Hamilton
Very much, Sir.

Bill Osborne
We had somebody call in the other day. That said, hey, we’ve got a a friend of ours, elderly gentleman has gone missing. We don’t know where he went to, just gone. And I said, well, has he had issues. But no, no pretty smart. You know everything you know quick as a whip but. Boom, they found him fortunately, and everything’s working out, but it can happen. It is twinkling of an eye, and all of a sudden mom or dad or granddad, or whoever doesn’t know the best thing to do.

Paul Hamilton
Exactly I had someone come in a few weeks ago and met with them and they engaged us to do. She didn’t have a power of attorney or any healthcare directive, so we had to go to the court and ask for guardianship or conservatorship. And just in that span of time, in a span of a couple weeks, I got a call from the grandson saying, hey Grandma’s even worse now. So yeah, it it that that really does bring it home because it it it can happen so quickly. So you want to you can have and that’s why I tell people when they start seeing those signs, then then don’t put it off. Don’t put off acting because when you do then it gets it gets more complicated and unfortunately it gets more expensive.

Bill Osborne
Yeah and but and also having someone like you an attorney in your corner makes a big difference. I mean people, because Oh well, I can go online and do LegalZoom or whatever. I don’t know what other places are. Having someone that is versed in the law is probably the best thing.

Paul Hamilton
Well yeah, and and one of the things that we talk about in our workshop is, one of the seven threats to your estate plan is not knowing the law. Now there’s there is different types of law and a lot of law that people know is what I call coffee shop law. And that’s the men at the coffee shop who have heard about their cousin Freddie had one of them, trusts and it was awful or or or. Frank says ohh my my grandparents had one and it was great. Yeah, and there’s also beauty shop law where the women do the same thing. One of the most something that was discouraging that happened to move forward with the plan and she called when she was going to come in that day and design her plan and said I need to cancel my appointment. I’m like, well, I’m so sorry. I really thought that we had this had a had an idea where we wanted to go, what, what happened she said well, my neighbor told me I just didn’t need one of them.

Bill Osborne
So, we’re going to take your neighbor’s advice over a trained attorney, OK?

Paul Hamilton
Yeah, yeah so so I you know one of the things in the workshop that I do is I say when you when you’re meeting with a lawyer, here’s the things that that lawyers need to be well versed in to do this area of law. And I also talk about financial advisors and what they’re well-versed in. So yeah, that knowing the law is important and we actually go through, and we talk about different types of legal concepts that are important in the estate planning world.

Bill Osborne
You mentioned workshop and those are things that you do each and every month, maybe only one during December with the holiday I I only see one on your calendar now.

Paul Hamilton
That’s right, we do it. We’re doing one and it will be next Tuesday at 1:00 o’clock at our office December the 13th and people can go to our website Hamiltontrust.law and click on the events tab and register for that workshop. They can also give us a call at 207-0850 and we’ll register them for you. But we do ask people to register because we want to make sure we have plenty of room and and sometimes we’re limited on space.

Bill Osborne
And it’s totally free. I mean, it’s something that you guys put out there and say hey, it’s important that you know these things. So you don’t feel like, oh, I got to pay for it to go to a a workshop and they got to pay for this and pay for that in addition to the workshop, they also get their initial consultation free.

Paul Hamilton
That’s right, in exchange for coming to the workshop we we provided a vision meeting for free of charge, and we we typically don’t do that. We typically charge for our consultations, but it’s important enough to me for you to have the information and education that you get from the workshop to give you an incentive to come to it. Because if if you, if you haven’t done any kind of estate planning work and you come into this cold and and I did this for a number of years where people would come in and I’d say, well, tell me what you want to do and they look at me and say, well, you’re the lawyer, you tell me but but I want people to be armed with the information. So education is very important. I love teaching. I love interacting and that and the workshop isn’t just, it’s not, it’s not really a snooze fest. It’s not a seminar. That’s why I call it a workshop because it’s interactive and and often people will will give me scenarios and ask questions and that makes it, you know, because each workshop that we have a little different flavor from the different people that come to it.

Bill Osborne
Now and of course you did make a comment and obviously you are a for profit business. There is a cost associated with this, but there’s a cost associated if you don’t do it that could be far greater.

Paul Hamilton
That’s right, you know. And and you know, we do tell people. That that there’s an emotional cost and and one of the things we hear a lot of times when people are are finished with their plan is like I feel so much better. And I have a lot of sweet ladies that tell me I’m going to sleep a lot better at night knowing that this is done. So yeah, there there’s the, and then there’s the cost of potential conflict when when we see conflict might be on the horizon. There there are ways that we can. We can work around that and we can resolve that conflict before it even arises. So there’s there’s the emotional, emotional cost in the and the cost of actually doing the plan, but what what happens is if you don’t do good planning, it costs more. And why does it cost more? Well, because we have to jump through hoops faster. Yeah, we have to drop through, jump through more complex legal hoops, so that’s why it costs more.

Bill Osborne
Yeah, and the other thing too is and just. I mean you could. We could talk for hours on this. Is what it does to a family that you don’t have a plan? What children, aunts, uncles, nieces, nephews, situations that splinters a family relationship if there’s not a plan in place.

Paul Hamilton
Yeah, it can, and unfortunately we we do see that from time to time where, where there’s conflict and family upon death. It’s a very emotional time and planning helps prevent that and and it’s it’s really good and and you know. And we always. It’s always sad when someone passes, of course, but it, but it’s gratifying to see a plan that unfolds exactly as the person wanted to. And to see that everything goes where they want it to go, and that they put in safeguards for perhaps a disabled child or a Sprint, a spendthrift child. You know, I say, everybody knows their kids. Some kids can, can are, tighter than bark on a tree and and some kids that that will burn that nickel will burn a hole in the pocket all day long. So you know so so you have to sometimes to put different things in place for different children and and when you see that unfold and know that you, I don’t think anybody really wants to control from the grave. But they do want to protect from the grave and and we we know how to do that.

Bill Osborne
Good point. Well, Paul just again remember the workshop. Only one this month on the 13th go to Hamiltontrust.law. You can sign up for that and it’s absolutely no cost to you, and it’s just it’s so beneficial to do that. Paul, thanks for coming in this morning.

Paul Hamilton
Yeah, thanks for having me.

Bill Osborne
Oh wait, hold on, go ahead.

Josh Burke
Muted over here.

Bill Osborne
Oh yeah, we muted.

Josh Burke
I guess he he did it on purpose I had I had one question and maybe a lot of people are wanting to ask this and it’ll probably shed more light on what you do. But can you just get like a little bit into the difference between what you do and what a financial advisor does and how the two would marry together?

Paul Hamilton
Ohh yeah, absolutely, and very good question. So sometimes people will come to me and say, Paul, what’s the hot stock? What should I put my money in? You know? How do I? How do I grow this money? Is it a good time to do a Roth? Should I do a Roth or traditional? Those are all financial, financial planner type questions but but we have to work hand in glove with a financial planner because one of the things where we talk about knowing the law is beneficiary designations. A lot of people don’t realize that beneficiary designations on life insurance policies, checking accounts, all that kind of stuff, trump’s what’s in your estate plan. So if all that’s not gelling together and you’re not working with the financial advisor, advise your attorney. They are not working with your, am not working with your financial advisor, then we’re not going to have a plan. So I always, I always tell them that that my job is making sure that there’s asset protection that your creditors, predators, and inlaws and outlaws can’t get to your stuff, and the financial advisor is growing and managing that money. Growing it I think as you as you move into older age and once you get to older age making sure it trickles out to sustain the lifestyle that you want. So that’s a great question, and thank you for asking. We we love working with our financial planners, but it it does take a team. It takes a team of us. Your estate planning attorney, financial advisors, CPA’s, accountants and and and all those folks insurance agents bankers.

Bill Osborne
Good good. Excellent comparison, I appreciate that well, Paul, have a very Merry Christmas and a happy holiday season and.

Paul Hamilton
Merry Christmas

Bill Osborne
I don’t know if you going. To make it back before. New Year’s it’s hard to. Tell because with the holidays.

Paul Hamilton
I, I think maybe one more. Time we’ll see. We’ll see.

Bill Osborne
Yeah, you’re you’re welcome. I’ll just put it on my calendar maybe.

Paul Hamilton
But yeah, I think we have one more but yeah.

Bill Osborne
Yeah, maybe yeah Thursday maybe the 22nd. That sounds about right. Yeah, OK, good, we’ll see you on the 22nd.

Paul Hamilton
I think that’s right. Yes, absolutely have a good one.

Bill Osborne
You too, thanks so much. We’ll be right back after this on 105.9 WVGA.

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