410: 7 Principles of Estate Planning and Building a Legacy That Lasts with David York

Today, I’m speaking with David York. David is an attorney, a CPA, an author, speaker, and managing partner at York, Howell & Guymon. David has over 26 years of estate planning experience and has helped thousands of clients with their estate and tax planning needs, in addition to businesses and nonprofit entities.

He’s the co-creator of the Entrusted Planning™ process and the co-author of two books, including Entrusted: Building a Legacy That Lasts, and we’ll be diving into his 7 principles of entrusted planning today.

In our conversation, David weighs in on several excellent estate planning questions from our Weekend Reading subscribers on trusts, the difference between legacy and estate planning, and the 3 questions children of any family (especially high net worth families) should know the answers to before you leave your wealth behind and much more!

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• Step 1.) Subscribe to the podcast and leave an honest rating & review over on iTunes.
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In this podcast interview, you’ll learn:

• How the baby boomer generation is the largest wealth transfer in history going to half as many people, and why most of them are unprepared.
• David’s definition of estate planning and why it’s more of a life plan and not a death plan.
• How you can add purpose to your estate planning by creating an opportunity transfer instead of a wealth transfer.
• Defining the 7 principles of Entrusted Planning™ and how investors can identify them.
• Three questions that children, especially of high net worth families, should know the answers to before transferring wealth to them.
• Some words of caution for incorporating generosity, foundations and charitable contributions in your estate plan.
• David’s thoughts on AI, ChatGPT, online resources, trust accounts and how to use them for various estate planning needs.

Show Notes: RetireWithPurpose.com/410

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