Episode 48: Who will manage your money if you can’t?

Oscarlyn Elder:

Many of us have thought about how to protect our families if we’re no longer here. But what if an illness, injury, or other unexpected event leaves us unable to manage our own affairs, either temporarily or permanently? I’m Oscarlyn Elder, Head of Investment Management at Truist Wealth, and this is I’ve Been Meaning To Do That, a podcast from Truist Wealth, a purpose-driven financial services organization. We appreciate you listening.

Today I’m talking with Catrina Crowe, my colleague and a senior wealth strategist at Truist Wealth. Catrina helps clients plan for the possibility of an incapacity, not just through the lens of legal documents, but also through careful decision-making and conversations with the people you trust to speak for you. That kind of planning can help you and your loved one feel more prepared if the unexpected does happen. Catrina, thank you for being here.

Catrina Crowe:

Thanks, Oscarlyn. I’m really excited to be here. I’m glad we’re having this discussion because incapacity planning is something everyone knows they should address, but it can be really, really easy to put it off. The good news is that taking a few thoughtful steps now can make a really big difference for you and the people who may one day have to help.

Oscarlyn Elder:

Catrina, before we get started, I should note for our listeners that we may touch on the subjects of taxes or legal documents. Truist doesn’t offer tax or legal advice, so you should always consult with your own specialist advisor on those issues.

Nobody enjoys thinking about the possibility of becoming disabled or somehow incapacitated in the future. But it can happen to anyone. Catrina, why is it important to make that possibility part of our overall wealth planning?

Catrina Crowe:

Well, Oscarlyn, most people understand why they need a plan for what happens when they die, right? Maybe we don’t like to think about it, but we’re all going to die at some point. Not everyone will experience a period of incapacity, but that comes with additional considerations.

Incapacity can affect nearly every part of a financial plan. There may be a loss of income, there may be new expenses related to healthcare, investment decisions that still need to be made, bills that need to be paid, or other family members that continue to rely on you. Planning ahead allows you to decide who’s going to step in for you, and it gives that person the power to do so and the roadmap for carrying out your obligations and your intentions. I often tell clients: “This is not planning for a loss of control. It’s planning so that your wishes and your intentions can continue to guide decisions even when you cannot communicate or implement them yourself.”

Oscarlyn Elder:

So, Catrina, as you’re working with our clients, do you find that there is a different level of willingness to think about this planning for folks who have had, within their own family, someone who’s experienced an incapacitating event?

Catrina Crowe:

Absolutely. I hear from a lot of people who tell me personal stories of a family member who had dementia or maybe suffered a stroke, the family didn’t know who to contact, where the assets were, or, in some cases, who even had the authority to act. This can make a really traumatic situation that much worse.

But Oscarlyn, I want to stress incapacity is not just an age issue. I had a colleague several years ago who suffered a stroke at age 37. He was in charge of all of his family’s financial affairs, so his wife didn’t even know which bank account they paid their kids’ private school tuition out of.

That’s a pretty extreme example. Personally, I was diagnosed with breast cancer earlier this year at 41. I had surgery earlier this year. I’m undergoing chemotherapy right now. I practice what I preach, so my husband and I have all the requisite legal documents, we have full access to all of our financial accounts, but we had some discussions about what it might look like if my recovery from surgery took longer or I wasn’t able to manage all the things that I do to keep our household running. My husband is wonderful, he’s fully capable, but it was really eye-opening to think about all the things he would potentially have to figure out while also taking care of me and our children if I was incapacitated for any period of time.

Oscarlyn Elder:

So, Catrina, you’ve lived this directly with our clients, with teammates, and now you’re living it yourself. And I appreciate you being very vulnerable because that’s a lot to share.

Catrina Crowe:

Yes.

Oscarlyn Elder:

It’s a lot to open up and share about. We’re with you as you go through this journey. Health challenges can happen regardless of age, regardless of profession, so it is really important that folks think about these issues before they happen, because when things are happening, the level of stress escalates almost exponentially. So hopefully, today, through our conversation, we’re able to help folks move to action and think about these issues before there’s an actual event.

Catrina Crowe:

Absolutely.

Oscarlyn Elder:

We’ve talked on this podcast about some life challenges involving incapacity before. Listeners, you can visit our archives at Truist.com/DoThat for our episodes about how to plan for caregiving and why dementia care belongs in your financial plan, for example. But incapacity can take many forms. Catrina, how does that affect how we plan for it?

Catrina Crowe:

Well, Oscarlyn, different types of incapacity are going to require different things. So, incapacity can be very sudden, right? It can be a stroke or an accident or an unexpected illness, or it can be gradual, right? We often think about dementia or some other progressive condition. It could be temporary, like in my personal case that I just shared, or it can be permanent. This is really important because different circumstances create different needs. If incapacity is temporary, maybe you just need somebody to pay the bills and manage investments for a short period of time until you regain capacity and the ability to do it yourself. If it’s progressive or permanent, it can involve housing decisions, caregiving arrangements, and a much, much longer period of responsibility.

Oscarlyn Elder:

Do folks tend to arc towards thinking about one or the other?

Catrina Crowe:

Yes, absolutely. So, a lot of people, they’ve had the experience of a family member who’s got a more progressive form of incapacity, right? So, over a much longer period of time, there’s a cognitive decline. It can be much harder sometimes to think about the catastrophic event, right—where there’s a sudden loss, especially if you’re young. I’m 41, but I consider myself pretty young, and it can be a lot harder to talk to young people about incapacity planning. We talk to older clients and people, and they often either are seeing it in their family members or their friends, and so they are living it in a much closer, more relevant way. Young people may be further removed from that, even if they have experience with a loved one, but they do often understand the possibility of an accident or a sudden illness. How is that going to affect my family? How is that going to affect my ability to work or to manage a household? Starting with those scenarios often makes the conversation feel a lot more relevant to them.

Oscarlyn Elder:

Hopefully, our listeners already have a power of attorney and healthcare documents as their estate plan. Our episode, Essential Legal and Financial Planning for Long-Term Care, has great information about that, but what else do we need to have in place for an incapacity plan to actually work if ultimately, we need it?

Catrina Crowe:

Documents are great, but they’re only one part of the plan. They’re incredibly important. They give somebody the legal authority to act for you, but the person you’ve named needs to know they’re named, right? They need to understand your wishes. They need to know where to find the information required for them to act.

Power of attorney is no good if it’s in a closet somewhere and no one can find it, or if the person who’s named is no longer living or available to act, or if that person has no idea about your financial picture. Depending on your specific circumstances, this may be a place in your plan for a revocable trust also. As long as assets are titled in a revocable trust, oftentimes you can have a successor trustee step in. They can manage those assets that are held in the trust. But again, the documents, the ownership structure, and communication kind of all have to work together.

Oscarlyn Elder:

The one thing I really heard there, Catrina, is that outside of having the documents, communication with the folks who will need to step up and help you in an incapacity is absolutely critical. So, if you just have the documents, but you haven’t communicated with anyone about your intent, what those documents do, where accounts are, how you want things handled, in essence, if you haven’t put together that checklist and had the conversation, it makes it much more difficult for someone to step in.

Catrina Crowe:

Absolutely. These are already stressful situations. If a family doesn’t know who’s going to be in charge or where to find the documents, they’re spending what could be really critical time away from the person who’s incapacitated and may need other types of support, looking for documents or trying to make sure that they understand where things are. And we want to make this process as seamless as possible and give family members the opportunity to really focus on what’s important.

Oscarlyn Elder:

And you mentioned a revocable trust. Give us the short definition of what a revocable trust is, and then talk about the titling of assets and the revocable trust and why that’s important.

Catrina Crowe:

Absolutely. So, a revocable trust, you can think of it as a will substitute. So, most people who have revocable trusts do have a will, and that’s called a pour-over will. And so that will just basically says, “If I haven’t retitled anything at my death, I want everything to go to my revocable trust.” And the revocable trust is where all of the language around distribution and administration of assets and management, all of those things are in that document. And that document controls after you pass away, but it also has provisions for what you or a successor trustee can do during your lifetime.

So, it becomes a really important tool when we’re thinking about incapacity planning, because if you have assets that are in the trust, you can name a successor trustee, and that person can act for you with respect to those assets. They can pay your bills. They can support family members—things like that.

But you touched on one critical piece—that is, you have to have assets titled in the name of your revocable trust. So, when we’re working with clients, we help them think through: “What assets do I put in that trust?” So, your trust is really designed to be a tool that’s going to be around for a long time, and you can name numerous successors. Whereas, it may be a little bit more difficult to do that in, say, a power of attorney. So, maybe a situation where you’ve got an agent under power of attorney who’s working in conjunction with a successor trustee—but so long as your assets are in that trust, it makes administration a little bit easier.

Oscarlyn Elder:

What happens if there’s no power of attorney in place or if that person isn’t able to serve?

Catrina Crowe:

Sure. So, if there’s no power of attorney in place, if the person hasn’t retitled assets in their revocable trust and that’s not available, then the family may have to pursue a court-appointed process before someone can even be able to manage that person’s affairs. The procedure is specific to your jurisdiction where you’re residing. It can also be really slow and expensive, so that’s why you really want to have a flexible plan in place before a crisis occurs.

Oscarlyn Elder:

Catrina, this is really impactful information. We know that we’ve covered a lot of ground and used some technical language. So, hopefully, folks will be able to slow down the podcast and take notes on the PDF form that’s available at truist.com/DoThat. And, one thing that’s really clear is that having that team, that trusted circle, can be really important to this planning process. So let’s talk about how to create that circle when we come right back.

Catrina, how should we go about choosing the people we trust to step in for us if we become disabled or incapacitated? And just a reminder to our listeners, as we talk about these roles, that you should always consult with your own tax or legal advisor about those issues.

Catrina Crowe:

Oscarlyn, this is where people often get hung up. I always tell clients to choose based on capability, judgment, and availability—not necessarily on things like birth order or desire to treat everyone equally.

Ideally, you want to name someone who has good judgment, who’s financially organized, who can remain calm under pressure, who you know will follow your wishes, who has enough time and availability, and who can communicate well with your family and your professional advisors. Parents sometimes feel that naming one child instead of another is unfair. If your son is in his first year of a medical residency and he’s working 80 to 90 hours a week, maybe he’s not the best choice for this particular duty.

I know in my own family, my parents have a very strong desire to treat my brother and I equally, which is great. But these are skills that I use every day in my job, and my brother doesn’t. So, the best thing for our family is that I’m the one officially named in the role, and I consult with him wherever possible.

Oscarlyn Elder:

Will you go back and give us the three characteristics? I think it was three that you wanted to highlight. I thought that was fantastic.

Catrina Crowe:

Yeah, absolutely. So, capability, right? Who can manage this? Judgment: Who’s going to follow your wishes? Who’s going to have good judgment and be able to carry those out? And then availability, right? Who’s got the time to do that? Because we know that this can be a really big ask, depending on the type of incapacity we’re dealing with or the management and the decisions that need to be made.

Oscarlyn Elder:

Catrina, that’s a really good point because I think a lot of times when folks are thinking about the trustee role or the executor role, or in this situation, someone to step in for incapacity, they actually don’t consider availability that often. They likely tend to anchor on the first two.

In our family, in the last couple of years, we’ve had a situation—and actually, my father had a really important decision to make­—and he focused a lot on the availability element and made a decision that, looking back, I was just like, “Oh, that was so incredibly wise and a bit of a game changer in multiple ways.”

Catrina Crowe:

I think one theme of this is communication, right? So, if you’re going to name, say, one child over another child, being able to say, “Maybe it is because they have more time or availability. It doesn’t mean that I love you any less, but this person has the skills for this.” And it may be that your other child is better suited to healthcare decisions, for example. I hear that a lot from clients who say, “I don’t want Mary making financial decisions, but she’s the one who I want to be in the room with the doctor and to make decisions if I can’t.” So, I think communicating that among your family and understanding who’s best suited for that role and who wants that role.

Oscarlyn Elder:

Well, what happens if you don’t have an obvious family member or friend, or trusted individual who can step in and fill these important roles?

Catrina Crowe:

This can be a really difficult thing for people to grapple with. Not everybody has that obvious choice. So, in some instances, I’ve seen people ask their attorneys or their accountants to do that for them. That’s kind of a limited option, in some cases. This is where it can be really important—you know, we talked about having a revocable trust, for example. If you’ve retitled things in your revocable trust and most of your assets are there—in that case, your successor trustee is doing a lot of the heavy lifting. So, it may be where an agent under a power of attorney doesn’t have a whole lot to do. And in terms of your revocable trust and successor trustees, it’s much easier to find a professional trustee to help with that.

Oscarlyn Elder:

And when we think about this issue, how big can the team be that supports someone? Is it possible for one person to handle the responsibility?

Catrina Crowe:

So, it goes back to the question of what type of incapacity are we looking at, right? Is this expected to be a temporary thing, or is it expected to be more progressive or more permanent? You’re likely going to name one or two people in your power of attorney—but, when we’re thinking about the team, that’s a much larger circle.

Think about the people that you consult with on a regular basis about your finances. It can include your wealth or your financial advisor, attorney, accountant, some sort of other professional fiduciary. It may include executives at your business if you’re a business owner. It may include your spouse or, if you have minor children and you’re divorced, it may include your ex-spouse. All of those people can play an important role if you’re incapacitated. There may be some overlap. There may be some situations where you absolutely don’t want any overlap, right—where you don’t want to have the same people named.

I used the example of the healthcare surrogate before. But, let’s say you’re incapacitated, and you have minor children, and you’re divorced. The guardian of those minor children might be your ex-husband or ex-wife, but you might want someone else to have the financial power to manage all of your financial affairs. So, you want to name somebody else. Your team is going to look a little bit different for everyone because everyone’s circumstances are a little bit different.

Oscarlyn Elder:

And what might spur someone to kind of change the composition of that team or the folks who are delegated to step in?

Catrina Crowe:

Yeah, that can change for any number of reasons. So, if one of those trusted people dies, obviously, or maybe they experience their own incapacity event—maybe you have a change in professional relationships, you’ve become too complex for your accountant, so now you have a different accountant; maybe there’s different family dynamics. I didn’t really mention the family members being part of that team. But they absolutely are and have a seat at the table.

Oscarlyn Elder:

And once you’ve got that team together—and we’ve touched on this theme before—communication, conversation is really important, not only in the formation of that team, but the ongoing kind of maintenance and care with the team. Is that fair?

Catrina Crowe:

Absolutely. So, your financial plan, your estate plan, it’s not something that you do once, and you put on a bookshelf and never think about again. And your incapacity planning as part of that is very much the same way. So, you’re looking probably on at least an annual basis at who’s going to be around the table, who is part of that team. The communication is really, really important.

So, if you are naming someone, the very first conversation you should have with them is, “I have named you, or I want to name you. Is this a role that you feel you can handle and that you want?” Some people might say, “I don’t want that responsibility” or, “There are family dynamics at play, I don’t want to be a part of that.” Anyone that you’re officially naming to a role like an agent under your power of attorney or successor trustee—they should know, of course, that they’re named. But they should also know what matters to you, what authority and responsibility do they have under those documents, what are your intentions for the way they’re going to act under those documents, and where do they find the information and the people that they need? Where are all the documents? Who are they going to call?

This doesn’t necessarily mean that you’re naming someone in your power of attorney, and you have to go to them and say, “Here’s my balance sheet and here is what all of my accounts look like.” You don’t have to do that. But what you do need to say is, “OK, when you are in a position to act, these are the people that you need to call. These are the things that you need to be thinking about. This is what you need.”

Oscarlyn Elder:

And what about the folks that are part of the trusted circle, but that aren’t officially appointed or delegated in your incapacity plan?

Catrina Crowe:

Yeah, I am a huge fan of over-communication, and I always tell my clients that, in my opinion, you can’t communicate too much; you can’t start to have these conversations too early. So, it’s a great idea to share this information with some of the people who aren’t named—your family members, your other parts of your team, so that everyone understands that even if they don’t have actual legal responsibility under a document, that they have a role and what they are going to be expected to do, who they can contact, right? If you’re part of the family and you’re not named in the documents, it’s really important that you know who is named in the documents—especially if you’re being supported by this person or you otherwise need to do things for them. So, over-communication is not a thing.

Oscarlyn Elder:

Well, if disability or incapacity occurs, how can we make sure that our priorities and obligations continue to be honored? We’ll talk about that when we come right back.

Catrina, if something happens and you can’t manage your own finances, how can you make sure that the things that you’ve chosen to do with your wealth can continue?

Catrina Crowe:

Oscarlyn, financial management is not just limited to paying utilities and overseeing investments, especially if there’s going to be a longer period of incapacity. I often see powers of attorney that provide the agent can pay expenses for the principal, for the person who created the power of attorney, for their spouse and their minor children. But we know many people use their wealth to support other people and purposes. So, they may be paying tuition for grandchildren. They may be helping an aging parent or sibling—making recurring charitable gifts or otherwise contributing to family expenses that aren’t limited to their immediate nuclear family. So, if those priorities are expected and desired to continue through incapacity, the plan and the legal documents need to address them appropriately. Otherwise, the person who is acting may actually lack the authority to do those things.

Just as an example, I have a client who pays tuition for six of his grandchildren, and he has a provision in his will and trust so that if he passes away while they’re still in school, the tuition can continue to be paid. He’s got a trust set up for that purpose. But if he’s incapacitated, we noticed there was not specific language in his trust to continue to pay those things. And it’s a really important part of his financial plan, and more importantly, it’s a really important piece of what he considers to be his legacy.

So, we realized that if he was incapacitated, the trustee or the power of attorney would not have the authority to keep making those payments. So, we made sure that he went back to the attorney and added a provision in there to make sure that they would have the authority to do that. And the attorney didn’t even know that that was something that he did on a regular basis, so it was really important that there was coordination between his legal team and also his financial advisors, who knew that these payments were coming out of his accounts.

Oscarlyn Elder:

Are there other situations like tuition that could fall kind of between the cracks and that folks need to think about from a documentation perspective?

Catrina Crowe:

Yeah, so I had a client who was supporting his sister. So, he was paying a certain amount each month for her rent and her apartment and some other things. And again, that was not part of what was in the legal documents. So, we made sure that there were provisions that gave the trustee the authority to do that.

Oftentimes, a very common one is charity. Your charitable giving may be regular—it may be that you have recurring payments. Or, it may be irregular—that there are decisions that need to be made towards the end of the year based on your tax profile or your investment performance or something like that. So, that requires a lot more delegation and judgment for your agent, and that often is not included in a power of attorney. So, if that’s something that’s really important to someone’s legacy, it’s important to have those conversations with both your advisors who are drafting those documents and also the people who are going to be carrying out those wishes.

Oscarlyn Elder:

The disability, the triggering event, if you will, itself can become really a big new financial commitment. How can an incapacity plan account for that potential change that can happen?

Catrina Crowe:

Yeah, so there’s really two sides here, right? So, if you are working, your income can decline or perhaps go away altogether if you’re not able to work or if you have a business and your business is disrupted. At the same time, your expenses—medical expenses, caregiving expenses, modifications to your home, if necessary—those things may increase. So that combination makes it really important to stress-test your financial plan. We can model what happens if your employment income stops, if care expenses are added, or even if a spouse or family member needs to reduce their own work to provide support to you. That analysis can help us identify where your plan works, but also where there may be gaps. There may be a place for disability insurance in their plan that would replace a portion of their income if they can no longer work, but it’s only one part of the solution—looking at savings, liquidity, workplace benefits, your investment assets, and expected family support or other kind of non-financial support all need to be evaluated together.

Oscarlyn Elder:

And once folks understand the risk and where they may have gaps, how do you recommend that they go about deciding what combination of perhaps insurance, savings, liquidity, investments, and other strategies that they may utilize to accomplish what they want to accomplish?

Catrina Crowe:

Yeah. The correct mix of those things is going to be different for everyone, right? So, the right solution is going to depend on the person’s age, their health, expected kind of incapacity, family history, their employment, how long they’re expected to work, their family responsibilities, any existing coverage they have, their available investment assets, and their tolerance for risk.

So, the goal is not necessarily to eliminate every possible financial risk. It would be great if we could do that, but we just can’t. So instead, it’s to understand which risks are the family willing to absorb and which could significantly disrupt the plan as it is today. So, then we can decide what needs to be insured, what can be funded from savings, and how much liquidity we want to remain available for this type of event.

I’ll tell you, I worked with a corporate executive last year—he’s in his early 50s—and, as part of our financial planning process, we talked about his family, and he shared that his father had passed away right around the same age that he was now in his early 50s.

So, he was really worried about this happening to him, and he had accounted for that risk by purchasing several life insurance policies. That’s what kind of gave him peace of mind. I asked him what things would look like if he didn’t pass away, but instead he was disabled, or he was unable to work for the next 10 years, which was really when his net worth was expected to grow exponentially. And with his higher salary, he’d been doing things like—all the things we tell clients to do—fund 529s; he had purchased a larger home; he purchased a vacation home. But, he hadn’t been so focused on really saving as much as he probably should have been, or really thinking about investment strategy beyond, “I have a really large salary, and I also have large expenses that go with it now.”

So, we took a step back and we looked at his employer benefits. We looked at his existing coverage, his spending, his savings, and the effect that would be on his family if he could no longer work. And going through that process really helped him make a decision about the combination that was going to be right for him.

Oscarlyn Elder:

Were there certain factors in that situation that helped the client get to the final combination of risk mitigation strategies that they embraced?

Catrina Crowe:

Yes. He worked really hard, right? His family had sacrificed a lot for him to have the career that he had, and they were enjoying the fruits of that labor, as they should. At the time, he was actually considering the purchase of another vacation home for them in a place that they visited a lot. And he ultimately decided against that. He put his money that he was kind of earmarking for that purchase. He put it in his investment account. He purchased some disability insurance. He started thinking about, “OK, if I end up incapacitated, I don’t want my family to have to make decisions about selling this place that is important to us. I want them to have some peace of mind that I’ve set aside the money to do this. And if I get through the next 10 years that I’m expected to work, we’ll buy our vacation home then.”

And so, for him, it was just about thinking about his wealth and how he was using it in a different way that was going to help him be able to sleep at night.

Oscarlyn Elder:

Thank you for sharing that example. Certainly, being able to sleep soundly because you have a sense of well-being can make all of this effort worthwhile. We’ll wrap up our conversation with a suggestion on how to get started in just a moment.

Catrina, we acknowledged at the beginning that planning for a disability isn’t anyone’s idea of a fun time. Hopefully, our conversation has helped people understand why it’s important. If a person hasn’t really thought about this before, what’s the one thing that they can do to get started?

Catrina Crowe:

So, very first thing, identify the person that you want to step in. If you, tomorrow, were not going to be able to manage your financial affairs, who do you want to be in charge? And then, Oscarlyn, I’ll actually give you three questions that people can ask themselves. Once you’ve identified that person, have I legally authorized them to be that person? Have I executed the right documents to do that? Have I spoken with them? Have I communicated that I want them to be that person? And have I asked them if they’re willing to do that? And then the last question: Could they find what they need if they were to act tomorrow? Do they know who to call? If the answer to any of those questions is no, I think that’s a good starting point. You don’t have to complete an entire estate plan or even an entire incapacity plan in one day. But having that first conversation can help create some momentum and also give you that peace of mind.

It’s really rewarding to me when clients get those documents in place—they’ve had the conversation with those people. I know those are really hard things to think about, and those conversations can be hard, but they’re really, really important for peace of mind. So, it’s really rewarding to me to be able to have those conversations with clients. And when they tell me they can sleep at night, that means I can sleep at night.

Oscarlyn Elder:

Well, Catrina, that’s incredible advice. Encourage folks to go back and make sure they hear those three elements. One, once you’ve chosen your person, do you have the legal documents that authorize appropriately? Number two, communicate and ask the person. And number three, could that person find the information? So really powerful advice there. I know folks are going to take that away. And it leads us into a tradition that we have here on I’ve Been Meaning To Do That, that we always ask our guests: What’s the one thing that you’ve been meaning to do that you haven’t done yet and that you’re willing to commit to doing now with our audience listening?

Catrina Crowe:

Oscarlyn, I have two small children, a three-year-old and a one-year-old, and I did what I tell clients to do, and I set up 529s for them. And I have funded them when I think about it, but I have not set up a direct deposit into those accounts, which, as we all know, those things add up over time. So, I am committing today that I’m going to get on the website and actually set it up so that I don’t even have to think about it in the future, and it’s just going to bypass me and go directly into their accounts.

Oscarlyn Elder:

Well, Catrina, that is a wonderful to-do item, and I look forward to hearing from you about how that goes. And I just want to say that I’m so grateful that you’ve joined us here today, and we are certainly wishing you all the best on your journey.

Catrina Crowe:

Thank you for having me, Oscarlyn.

Oscarlyn Elder:

And listeners, I want to thank you as well. If you liked this episode, please be sure to subscribe, rate, and review the podcast, and tell friends and family about it. I also invite you to listen to the new podcast from Truist Securities, Navigating Beyond the Expected at Truist.com/BeyondPodcast. If you have a question for me or a suggestion for this podcast, email me at DoThat@truist.com.

I’ll be back soon for another episode of I’ve Been Meaning To Do That, the podcast that gets you moving toward fulfilling your purpose and achieving your financial goals. Talk to you soon.

Disclaimer:

Oscarlyn Elder is an investment advisor representative, Truist Advisory Services, Inc. Any comments or references to taxes herein are informational only. Truist and its representatives do not provide tax or legal advice. You should consult your individual tax or legal professional before taking any action that may have tax or legal consequences.