BWH 96 – The Weakest Link in Your Estate Plan

In episode 98 of Building Wealthy Habits, hosts Laura, Randy and Jeremiah discuss the signs that indicate when individuals and business owners have outgrown their financial teams, including their financial advisors, CPAs, and attorneys. They emphasize the importance of recognizing the need for change as financial situations become more complex and the necessity of having proactive advisors who can adapt to these changes. The discussion also covers the importance of ongoing relationships with financial advisors and the need for them to challenge clients and provide new insights as their financial needs evolve.

In this episode:

📌 Most individuals outgrow their financial team rather than firing them.

📌 Change is hard, but recognizing the need for a new team is crucial.

📌 Proactive tax planning is essential as income increases.

📌 Investment strategies should evolve with the client’s financial situation.

📌 A good CPA should provide more than just basic filing services.

📌 Financial advisors should challenge clients and not just defend the status quo.

📌 Ongoing relationships with financial advisors are key to success.

📌 Complexity in financial needs requires specialized advice.

📌 Estate planning becomes more critical as assets grow.

📌 Misalignment with your financial team can lead to costly mistakes.

If you’re wondering whether your current team is still the right fit, start with one simple question: are they helping you stay ahead of complexity—or just reacting to it? If this episode sparked a few “oh wow… that’s us” moments, don’t ignore them. Take inventory of your advisor, CPA, and legal support, and make sure they’re proactive, coordinated, and willing to challenge your assumptions as your life and business evolve.

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