This week we are joined by Bonnie Faucett, former estate attorney and now the founder of the Legacy App, designed to help families and business owners seamlessly organize all of their important life details and documents.

We break down why most estate plans are flawed, why having a will is NOT enough, and how improper planning can cost your family dearly in terms of money, relationships, and legacy. Bonnie also reveals the pitfalls of relying on outdated methods for asset organization and how her Legacy App Family Edition offers a simple, efficient, and secure way to get everything in order.

Loral's Takeaways:

The Importance of Estate and Legacy Planning (01:20)
Introduction of the Legacy App (03:58)
Myths and Mistakes in Legacy and Estate Planning (07:05)
Mistakes in Estate Planning (09:40)
Challenges for Business Owners and Blended Families (12:37)
Special Needs Trusts (23:58)
Security and Usability of the Legacy App (26:26)

Meet Bonnie Faucett:

As a busy wife, mom, and business owner, I struggled endlessly to keep all of my family’s details organized and up-to-date. I kept things on paper, printouts, scans, handwritten notes, emails, email attachments, Dropbox files, you name it.

But if someone had to quickly take my place and know exactly how to run my family and my business if I couldn’t, it would be a mess. I tried to keep it all organized somehow but I sacrificed family time (and a little bit of my sanity) while mired in this chaos.

I figured there had to be a better way so I started working on it, uncovering modern and easy ways to use technology to help me drastically reduce the time spent and the stress involved. Then I realized the problem was bigger than I thought and I started sharing it. With the Legacy App Family Edition, I’m sharing with families and business owners exactly how I figured out how to effortlessly organize my life’s details, keep everything secure in one system, and ultimately save my family from collapse upon the disability or death of a loved one.

I earned my bachelors degree from Colgate University and J.D. from The University of Texas at Austin. I'm a 3x business founder with two successful exits and I've helped 834 families with their estate planning and organizing their families’ details.

Links mentioned in episode:

Legacy Family App

Generational Wealth 3-Day Conference

Meet Loral Langemeier:

Loral Langemeier is a money expert, sought-after speaker, entrepreneurial thought leader, and best-selling author of five books.

Her goal: to change the conversations people have about money worldwide and empower people to become millionaires.

The CEO and Founder of Live Out Loud, Inc. – a multinational organization — Loral relentlessly and candidly shares her best advice without hesitation or apology. What sets her apart from other wealth experts is her innate ability to recognize and acknowledge the skills & talents of people, inspiring them to generate wealth.

She has created, nurtured, and perfected a 3-5 year strategy to make millions for the “Average Jill and Joe.” To date, she and her team have served thousands of individuals worldwide and created hundreds of millionaires through wealth-building education keynotes, workshops, products, events, programs, and coaching services.

Loral is truly dedicated to helping men and women, from all walks of life, to become millionaires AND be able to enjoy time with their families.

She is living proof that anyone can have the life of their dreams through hard work, persistence, and getting things done in the face of opposition. As a single mother of two children, she is redefining the possibility for women to have it all and raise their children in an entrepreneurial and financially literate environment.

Links and Resources:

Ask Loral App: https://apple.co/3eIgGcX

Loral on Facebook: https://www.facebook.com/askloral/

Loral on YouTube: https://www.youtube.com/user/lorallive/videos

Loral on LinkedIn: https://www.linkedin.com/in/lorallangemeier/

Money Rules: https://integratedwealthsystems.com/money-rules/

Millionaire Maker Store: https://millionairemakerstore.com/

Real Money Talks Podcast: https://integratedwealthsystems.com/podcast/

Integrated Wealth Systems: https://integratedwealthsystems.com/

Affiliate Sign-Up: https://integratedwealthsystems.com/affiliates

Thanks for listening!

Thanks so much for listening to our podcast! If you enjoyed this episode and think that others could benefit from listening, please share it using the social media buttons on this page.

Do you have some feedback or questions about this episode? Leave a comment in the section below!

Subscribe to the podcast

If you would like to get automatic updates of new podcast episodes, you can subscribe to the podcast on iTunes or Stitcher. You can also subscribe from the podcast app on your mobile device.

Leave us an iTunes review

Ratings and reviews from our listeners are extremely valuable to us and greatly appreciated. They help our podcast rank higher on iTunes, which exposes our show to more awesome listeners like you. If you have a minute, please leave an honest review on iTunes.

Jeffrey Lee Funk on Unicorns, Hype, and Bubbles

Peoples & Things

Exploring the Shifts in American Productivity

The AI-powered Podcast Player