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MP: Good afternoon, and thank you for joining us for an MP webinar covering your 2022 benefits package cheaper weapon estate planning.
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MP: i’m katie kreider marketing specialist here at MP For those of you joining us on a webinar for the first time.
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MP: And it is a full service human capital management company we offer a complete suite of products and services to support organizations, through the entire employee lifecycle including hr.
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MP: payroll benefits administration time and attendance and compliance assistance we support our clients with cutting edge technical solutions, as well as proactive reliable service and deep HR and payroll expertise.
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MP: At MP, we are wired for HR and help our clients succeed by aligning their people strategy with their business goals.
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MP: i’m excited to introduce your presenters for today’s program renee fry and skyler Sam.
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MP: renee is the Co founder and CEO of general an online software provider, with a mission to provide affordable, accessible and easy to use a State planning tools for everyone.
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MP: renee has led and help start multiple companies served in the Massachusetts government cabinet as head of Business and Technology is a graduate of Harvard Business School.
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MP: skylar is the general counsel for general skyline have successfully litigated high profile corporate disputes and recently founded and runs a law firm that helps guide fast growing startup companies.
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MP: He is also handle thousands of cases in a variety of fields such as a state planning and family law.
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MP: skylar is a graduate of the mission hamlin school of law and was admitted to the federal and California state bar in 2012.
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MP: founded in 2018 gentry oh is online estate planning platform that makes a State planning, affordable and accessible to all.
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MP: based in Boston gentry was created by sisters renee and Julie fry with the mission of helping families protect what matters most to them.
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MP: Through general users of all service tears can create state specific documents and securely store and share their documents what’s more general offers a suite of extras such as a state planning coaching onboarding guidance legal reviews and funeral planning.
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MP: Just a few housekeeping issues before we get started here today if you’d like to submit a question during the program please use the Q amp a feature at the bottom of the screen.
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MP: We will be sending out the recording of the webinar later today, along with the slides and with that i’m going to hand the MIC off to renee.
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Renee Fry: And thank you much appreciate it so it’s nice to get to be here today, so.
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Renee Fry: Can we.
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Renee Fry: yeah, so this is all about educational and informational purposes and definitely if you have questions, please put them in the chat will make sure that.
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Renee Fry: We really try to help everyone learn a lot today, and so this is not legal advice or anything like that, but we’ll make sure that we have you tried to answer any questions that you have that we can.
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Renee Fry: So today what we wanted to talk about is a state planning and how it can be that secret weapon and how today with everyone going through Colvin and family struggles and so many different things that.
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Renee Fry: Why estate planning isn’t what people thought about in the past or it’s, not just for the wealthy and it’s not just one and done.
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Renee Fry: But also making sure how it becomes a tool that helps employees throughout their lives and it’s something that helps with employee retention as well because it’s a.
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Renee Fry: Pretty inexpensive benefit that is there for people throughout their lives, when they need help the most and especially now again, this is where.
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Renee Fry: I don’t know, two thirds of our staff over Christmas had coven so i’m pretty sure everybody’s still dealing with lots of folks not knowing what they need to know.
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Renee Fry: And really when we’re attracting talent, this is something that everyone needs no matter if they’re young or old it’s something everyone needs and but especially those who have experienced.
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Renee Fry: They most likely have a family, they might be folks, like many of us have the name gentry or means three generations, and so a lot of folks like might be like myself, where my dad.
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Renee Fry: just passed away last year from alzheimer’s the same time, my grandmother passed away from Kobe and I have a 10 year old son and so.
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Renee Fry: it’s one of those things where we have lots of generations to think about and care for and so, especially some of those more experienced established professionals that you’re looking to hire this might be something that would be really helpful to them.
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Renee Fry: So I mentioned coven but I really want to make sure that people understand something where a State planning.
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Renee Fry: is something where it includes your health care proxy that’s medical decisions, so if you don’t have a health care proxy.
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Renee Fry: Your family can’t make your decisions and so anybody over 18 needs something like that, but then also to from the Financial Perspective it’s something where.
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Renee Fry: it’s not just estate planning is your will but it’s also things like the power of attorney and making sure that you can help make financial decisions for.
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Renee Fry: Those that you care for or even a spouse something like that, but it’s something that a lot of folks have questions about.
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Renee Fry: And so, one of the things that we’ve found is that you really need to make sure that resources are available because.
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Renee Fry: When people have questions you can Google anything all day long and find 27 different answers, but when people have questions and it’s their family, you want to make sure they’re getting the right answers.
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Renee Fry: skyler you and jump in on this one.
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Skyler Samp: yep Thank you renee.
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Skyler Samp: yeah and and estate planning can be critical, not just for employers, but for also for employees it’s it’s you know that they play off of each other.
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Skyler Samp: I think most employers would know that when an employee is distracted they’re not going to be as productive and you know as you touched on renee and these tough times it’s even more prevalent than ever that individuals are affected, and can be distracted and that reduces productivity.
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Skyler Samp: You know whether it’s themselves a loved one, a friend, you know if, when you go through you know these kind of issues where their medical issues, etc.
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Skyler Samp: there’s going to be a lot of turmoil for that individual and unless you can reduce that and a good estate plan can help reduce that stress for employees and that’s only going to you know swing back and help the employer.
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Skyler Samp: So what is estate planning and and that’s something you know a lot of people don’t really think about until they’re older up until now, I think that’s changing quite a bit.
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Skyler Samp: And it can be kind of daunting most people have heard of a will or trust.
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Skyler Samp: And they think oh it’s it’s what old people have, and you know when they die, you know that helps them, you know escape having to go through probate tells everyone what you know who gets what in their state, but unfortunately.
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Skyler Samp: People need to be educated that it’s a lot more than that, and if you can provide an employee with the knowledge and the.
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Skyler Samp: perks of all of the you know it’s it’s a well rounded set of legal documents so first and foremost state specific being able to provide.
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Skyler Samp: Your your employees with their state specific documents is important and that can be complex and daunting, but if you can simplify that for them that’s a great perk.
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Skyler Samp: A couple of the other major legal documents you’ve got legally binding power of attorney you’ve got a health care proxy which we touched on a will living trust.
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Skyler Samp: An emergency card which can be very important, you know if you’ve got health issues, etc, you know that’s something where if a loved one.
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Skyler Samp: can look that up and provide a medical professional with that almost instantaneously that’s a very important legal document.
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Skyler Samp: There it can go to a pet trust pet power of attorney and a pet information sheet that’s not something that typically somebody thinks about when they think of estate planning, but there’s a benefit there, and if.
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Renee Fry: People love their pets, sometimes by in their family.
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Renee Fry: Our pets are part of the family right.
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Renee Fry: yeah I mean.
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Skyler Samp: i’ve dealt with cases where that’s been the case, Jaime and and it’s it’s something where you know if you can show an employee or a potential prospective employee that there’s all of these different benefits involved in estate planning that could mean a lot, it should mean a lot.
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Skyler Samp: And it’s more estate planning is more than just documents it’s more than just these boring legal documents that help get what you want.
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Skyler Samp: You can provide a great benefit to an individual by you know doing stuff like a funeral planning toolkit memorial videos you know back in the day, you would just.
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Skyler Samp: write a letter to loved ones and that’s hopefully they find it and that’s what you get but now you can you know estate planning can help provide high production on memorial videos.
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Skyler Samp: and family support estate planning is now not just something that you do behind closed doors, you can involve really any loved one friend family etc in the process and let them be privy to it and give them easy access to it if if needed.
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Skyler Samp: Which kind of brings my point to the fact that it gives an individual a digital home to turn to they can securely store very important documents.
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Skyler Samp: Instead of having to go to you know and and a bank lock box or a safe, for you know, a hidden you know cabinet they now can instantaneously store securely.
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Skyler Samp: Documents via their phone or computer from anywhere in the world and that provides a great benefit and.
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Skyler Samp: which I will touch on a little bit later it it’s always up to date, if you can provide an estate plan that continuously stays up to date with the changing laws, etc.
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Skyler Samp: you’re providing a great service, because once again and historically people would create a will or a trust, and you know, unless they wanted to change it.
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Skyler Samp: They wouldn’t want to have to pay an attorney to go back and revise it continuously that’s expensive so being able to provide an estate plan that allows for change that allows for updates without the extra expense of that provides a real value.
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Skyler Samp: So once again isn’t state planning one and done.
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Skyler Samp: The answer’s no, and this is what I was just touching on.
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Skyler Samp: The the value of a comprehensive estate plan, where an individual has easy access to it can go back to it daily if they want can go back to it 10 years from now, if they want.
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Skyler Samp: is really valuable the fact that you don’t have to continuously hire an individual to revise revise you know, when what was the law when you created this and how has the lodge change, and how does that lodge changing pertain to the documents as they were created.
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Skyler Samp: When you have an online website as comprehensive estate plan and the laws change.
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Skyler Samp: Those individuals can be notified of those laws and when they sign in they can see you know what changes they may need to make or what things they need to update.
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Skyler Samp: And that’s a real value and knowing that you can do that daily or yearly is it provides just constant value to an individual and people’s lives change, as we know, and.
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Skyler Samp: You know, there are ups, there are Downs there uncertainties and in those periods of change it’s nice to know that you can instantaneously go back and very easily adjust your estate plan.
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Skyler Samp: So the value in that is incomprehensible and that really just kind of provides kind of a comfort for individuals, knowing that they can do that.
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Renee Fry: yeah so from a benefit package standpoint, we know that recruiting and retaining talent it’s something that is a real challenge, right now, because.
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Renee Fry: There are so many job postings and people are looking for their next opportunity and so.
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Renee Fry: One of the things that may not be that you can keep increasing salaries, but you can do a lot with benefit packages.
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Renee Fry: And so, with benefit packages that’s a differentiator, and this is where from an estate planning perspective, being able to provide benefits that in the past, would have cost someone $10,000 but now like we only charge $25.
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Renee Fry: per year for someone but it’s something they now, you can provide a very affordable benefit that stays with folks as long as they want it to, and this is something where.
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Renee Fry: From a secret weapons standpoint we’re putting in packages like these saying hey you know what if we can help you care for not only yourself, but your family.
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Renee Fry: Your loved ones, if you’re caring for aging parents or you have a child is going off to college, let us help you with that too that’s a huge benefit to folks because right now in this very busy we’re hoping we live in.
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Renee Fry: We all don’t live next door anymore, we you know I live now five States away from my parents my mom’s.
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Renee Fry: And so it’s one of those things were really making sure that benefit packages include all kinds of things now that are not necessarily the monetary side but benefits that show us an employer care are, I think something that’s critical.
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Renee Fry: So one of the stories that we recently had, and I will say just in inside of people I think sometimes think we must be robots because they send us very interesting stories.
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Renee Fry: That some we cannot repeat, but one good story that I can share is a there was a woman named Jana who she worked at a company in iowa then we, the gen trio.
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Renee Fry: serves as a real benefit and her father lives in Florida, and he was about to have surgery, and so he wanted her to fly down.
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Renee Fry: To Florida, because he needed an updated health care proxy because one of the things the hospital said was before you go into surgery, you need to tell us who you want in charge and making decisions, if you can’t make those decisions.
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Renee Fry: and his last health care proxy day was outdated because they need to be updated about every two years, but it was outdated and had named is now ex wife, as the decision maker, and so.
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Renee Fry: When we’re on the phone with us, he told in no uncertain terms that the ex wife is going to pull the plug she would find creative ways to make sure he didn’t come out at the surgery.
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Renee Fry: And we can tell you it’s okay jenna doesn’t have to fly down to Florida here’s the document, this is what it takes to get this done.
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Renee Fry: And it took them all of a 1015 minutes to get the document done and get the health care proxy on have him know that now his daughter jenna was in charge of all of his decisions.
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Renee Fry: And she didn’t have to fly down to Florida from iowa so she saved a bunch of money and just the relief from both of them.
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Renee Fry: was something that was some really exceptional and we just want to share that story because too many people think again estate planning is just when someone dies and.
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Renee Fry: Things like that, but it’s actually a real life, events that are happening all the time, whether it’s a simple you think it’s a simple surgery or it’s something just making sure that.
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Renee Fry: Your parents and their employers parents are making sure that they have the right decisions and things covered as well, but Jen, I can tell you still.
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Renee Fry: she’s still a general user as his her father, because they know that they need to update their documents and they use the digital ball to be able to share their documents and important information, because now.
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Renee Fry: he’s on about a medications and keeps those up to date, too, because he wants to make sure that jenna has all of that too so it’s a good story.
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Skyler Samp: Alright, so four ways estate planning can improve employee retention and the first is everyone wants peace of mind in these uncertain times and and if if an employer can provide that that’s a great value.
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Skyler Samp: Number two it’s a modern universal benefit there’s really no way that I don’t know anyone out there, that would state that an estate plan is a bad thing yeah every it used to be something where people think, on the old people or extremely wealthy need but it’s becoming more and more.
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Skyler Samp: Common and prevalent that the people need it and it’s a lifelong benefit it’s not something that you know that they’ll see.
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Skyler Samp: Only while they’re employed by here they’ll still use this estate plan for the rest of their lives, and they should see the benefit there.
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Skyler Samp: And it also helps with financial health and emergency plan so those three things are extremely helpful to the individual and they they should see value in that, and even if they don’t I mean it’s something where the employer should feel good about providing and, as I stated earlier.
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Skyler Samp: When an individual feels secure with their financial health and emergency planning, they should feel more comfort less distracted etc, and that should provide a benefit for the employer as well.
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Skyler Samp: Now renee I don’t want to skip back to that story that you’re just telling, but there are.
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Skyler Samp: Documents in estate planning where i’ve heard wild stories where you know they people were absolutely saved by documents such as this, I know, an individual who had.
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Skyler Samp: A pet trust and what they were allowed to do is allow a caretaker for their pet while they would go on vacation most people don’t really think about that, like hire somebody to to watch a dog or get a family friend to watch their dog, but if the dog gets sick.
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Skyler Samp: has to go to that, how do you deal with that situation, how do you.
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Renee Fry: So can I tell my story i’m.
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Renee Fry: sure.
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Renee Fry: yeah this was the the pet power of attorney one, so a friend of mine is a navy seal and he was on a mission and, unfortunately, his dog stomach booked.
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Renee Fry: And the event would not do the surgery, because it was about an $8,000 surgery to have just to save the dog.
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Renee Fry: And so, he wasn’t married to his girlfriend at the time and they wouldn’t they wouldn’t let her do it, and so they actually had to find him in the mountains of a secret country that cannot be named.
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Renee Fry: And the guys still kind of make fun of him today and they walked by as a wolf because they know that.
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Renee Fry: yeah he wanted to save his dog and do whatever it could that you didn’t have a pet power of attorney in place, and so this is where people are like.
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Renee Fry: Oh, my gosh I haven’t heard of these things well they’re very real and so when people are living through these emergency situations, if you don’t have these documents, it makes life really hard.
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Skyler Samp: Absolutely and that’s and that’s my whole point be the intricacy of the value that you can provide an employee with an estate plan is quite extensive I mean you can with a just the focusing on a pet power of attorney you can determine.
00:22:12.060 –> 00:22:21.060
Skyler Samp: Who has the decision to make you know who has the right to make decisions for that pet and how long what what period of time do they have that power.
00:22:21.420 –> 00:22:28.020
Skyler Samp: And you know what’s the discretion of that power can they go up to $2,000 up to $10,000.
00:22:28.620 –> 00:22:39.690
Skyler Samp: And for an individual to know that they have that much more control over the safety and well being of their pet or a family member or wherever that provides immense value.
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Skyler Samp: And I would also add a number five on to the employee retention, is it provides a resource for these employees a kind of a learning tool, if need be.
00:22:52.140 –> 00:23:03.000
Skyler Samp: So they can actually understand estate planning and if they understand it, I mean that provides an immense value to that individual.
00:23:03.660 –> 00:23:13.260
Skyler Samp: They don’t want to have to go out and do legal research they don’t want to have to go out and and search the Internet and maybe get false information if you go to.
00:23:13.650 –> 00:23:24.210
Skyler Samp: An online estate planning resource, they will just straightforward knowledge very easy for you and that the value of that is immense.
00:23:29.460 –> 00:23:39.990
Skyler Samp: Why employees want benefits like estate planning, especially now, I mean when I look at these these numbers I I think they’re extremely substantial.
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Skyler Samp: 33% say that coven caused a greater need for an estate plan, I mean that.
00:23:47.700 –> 00:23:56.850
Skyler Samp: That is a drastic change that that is something that’s happening in our world right now that’s make making people think about their own mortality.
00:23:57.150 –> 00:24:07.860
Skyler Samp: Think about their loved ones, think about the mortality of their their parents or grandparents or children, and although it’s it’s a sad prospect.
00:24:09.090 –> 00:24:19.920
Skyler Samp: People are taking initiative and think that that’s, at least at this point in time, that what the world’s going through is propelling people towards the idea of meeting an estate plan.
00:24:20.730 –> 00:24:37.860
Skyler Samp: Now a hot the next one, this one is the biggest one for me 63% increase in adults from ages 18 to 34 who had a will and 2021 to 2020 that that is.
00:24:38.310 –> 00:24:46.710
Skyler Samp: Wild to me because you know, most people you don’t think of most young people 18 to 34 is having a will.
00:24:47.100 –> 00:24:56.160
Skyler Samp: And that’s a substantial increase, so the value of having a State plan is only just growing immensely, year in and year out.
00:24:56.970 –> 00:25:09.300
Skyler Samp: Now, once again, once they have that will they’re going to be utilizing and changing and altering it for the rest of their life so they’re going to see immense value, hopefully, for a very long time.
00:25:10.200 –> 00:25:23.970
Skyler Samp: Finally, 46% have a will to protect who cares for their children or get assets after they pass, once again, I think that that this numbers only going to increase in time.
00:25:24.480 –> 00:25:34.950
Skyler Samp: I think, as it becomes easier to create a more affordable to create more and more people are going to say why not do this, and once they do it.
00:25:35.340 –> 00:25:43.710
Skyler Samp: they’re going to understand the concept of estate planning better and they’re going to utilize it a lot more so the value is just going to increase immensely.
00:25:44.910 –> 00:26:04.380
Skyler Samp: And, as we stated prior we all need health care proxies I mean that’s something that should be standard issue and most people I know don’t have them on they can save a person’s life, and I think anyone could easily create one online and it’s a no brainer.
00:26:08.370 –> 00:26:15.240
Skyler Samp: And finally, you know, providing estate plans can attract more experienced established talent.
00:26:17.370 –> 00:26:27.240
Skyler Samp: helping employees through life changes is important if you can provide that value add, especially at an affordable price it’s a no brainer.
00:26:29.730 –> 00:26:33.120
Skyler Samp: You can provide employees with peace of mind, as we stated before.
00:26:34.140 –> 00:26:46.110
Skyler Samp: But a big one, is the no waiting period for for new employees, you know with dental or medical you may have to work with a company for X amount of time, you may have to wait for an enrollment window.
00:26:46.800 –> 00:27:04.620
Skyler Samp: To be able to tell a new employee hey like day one working here, you will have access to an entire you know, a state plan you know software or something that’s great and that’s you know very enticing I would think for a lot of people.
00:27:06.330 –> 00:27:12.720
Skyler Samp: Now we went through what’s what some people call the great resignation, where.
00:27:13.560 –> 00:27:32.220
Skyler Samp: A lot of younger employees throughout our nation decided that they it just wasn’t worth its work and a lot of companies had to try and hire you know older employees who are willing to do the job, and as we kind of stated many times, throughout this.
00:27:33.300 –> 00:27:41.910
Skyler Samp: The older the individual, the more that they’re going to be intrigued or enticed by the estate planning process so.
00:27:42.540 –> 00:27:58.920
Skyler Samp: Although we showed numbers that you know the younger crowd is starting to become more and more keen on estate planning it’s still fair to say that the older the individual, the more experienced the individual, the more enticed they will be by the prospect of the State planning.
00:28:00.720 –> 00:28:08.610
Skyler Samp: And finally, for more experienced to younger individuals, this is a benefit that’s going to laugh last for someone’s entire life.
00:28:09.030 –> 00:28:13.530
Skyler Samp: So you can tell a younger employee or a younger employee prospect.
00:28:14.040 –> 00:28:21.120
Skyler Samp: hey you know, once you have an estate plan, this is something that you’re going to be able to go back to day in, day out, year in year out.
00:28:21.420 –> 00:28:28.470
Skyler Samp: it’s going to help you throughout the rest of your life in many different facets of your life from powers attorneys to pet trust to.
00:28:28.980 –> 00:28:39.390
Skyler Samp: To there’s there’s a vast array of legal documents that they’ll help you create they’ll help you update and that provides a lot of value for many years to come.
00:28:44.520 –> 00:28:53.520
Renee Fry: And one of the things we do a lot with to your life inflection points will, when you have a baby if you get married get divorced lose a.
00:28:54.030 –> 00:29:02.670
Renee Fry: parent has a first fall typically moved to a new state, those are times when we typically see that we get to help a lot of folks too because.
00:29:02.970 –> 00:29:10.530
Renee Fry: it’s during those life inflection points that people know they need to update documents create documents and really make sure that they’re protecting all day long.
00:29:11.280 –> 00:29:22.440
Renee Fry: So just a few things here, and then we want to make sure we have time for q&a so it’s a very high value, and you know something that people know is there for them.
00:29:23.100 –> 00:29:28.770
Renee Fry: One of the things that I think, from our perspective, having that button, that you can hit when an emergency happens.
00:29:29.010 –> 00:29:44.010
Renee Fry: saves huge amounts of time, so now, if someone does need their health care proxy medication list doctors information that’s something that now, with technology is available, and something that people in the past haven’t had access to and recording around little pieces of paper.
00:29:45.150 –> 00:29:55.080
Renee Fry: Okay i’m turning in my mother here, where she would always have this little piece of paper with medication list of doctors and Oh, my goodness, they were was always lost when I hit the button the button mom and so.
00:29:55.860 –> 00:30:03.060
Renee Fry: This is where also to I think in the past, there were legal services that folks could buy on a monthly basis.
00:30:03.480 –> 00:30:12.120
Renee Fry: But those tend to be things that people would sign up for and four years later realize oh i’ve been paying 25 bucks a month and i’ve never realized why.
00:30:12.480 –> 00:30:22.890
Renee Fry: or haven’t used those services, so this is something where the majority of folks were using the estate planning platform and the estate planning really does deserve its own.
00:30:24.360 –> 00:30:30.330
Renee Fry: kind of court or section, because it is so detailed and you need to make sure you have those details make everything effective.
00:30:30.810 –> 00:30:42.810
Renee Fry: And so from saving time money, instead of having to deal with lawyers and legal and things like that, being able to provide tools that folks can do on their own time and really making sure that they have.
00:30:43.170 –> 00:30:52.230
Renee Fry: The peace of mind, knowing that they are protected, is, I think it’s been a great benefit and when we’ve gone back and talked with folks at least from our perspective, we know that.
00:30:52.590 –> 00:31:00.480
Renee Fry: The stories they tell us in a year, it can make a huge difference and then also, I think, from janice story, but we have other.
00:31:00.900 –> 00:31:09.000
Renee Fry: tells also but really helping people know that they are protected and so from a work performance standpoint.
00:31:09.780 –> 00:31:17.640
Renee Fry: Being able to keep people there, knowing that they can reach out to the coaches and people have experienced and being able to help people.
00:31:18.030 –> 00:31:27.270
Renee Fry: make the right decisions at the right time, is something that’s huge I worked for a woman wants to, we would spend two or three hours a day in her office talking about her.
00:31:28.440 –> 00:31:33.060
Renee Fry: Her unfortunately her sick mother and shouldn’t have anything protected shouldn’t everything right.
00:31:33.480 –> 00:31:39.180
Renee Fry: And she had no idea what to do, and we really would sit there for two hours a day and i’m like connect connected to my work.
00:31:39.480 –> 00:31:54.960
Renee Fry: But she felt like she needed someone to talk to you, so I actually got to know her father well too So these are real stories and it is something that if we can do more to prevent these types of situations there’s a lot we can do and saving time and then money as well.
00:31:58.470 –> 00:32:06.990
Renee Fry: So we wanted to open it up to Q amp a and feel free to I think we can put them in the chat right or raise your hand and.
00:32:08.430 –> 00:32:10.920
Renee Fry: And again we’re really fun at dinner parties right skyler.
00:32:14.070 –> 00:32:16.350
Renee Fry: skyler might be more fun at dinner parties medallia.
00:32:19.080 –> 00:32:30.960
Renee Fry: So I have a 10 year old, who walks around talking about estate planning asking people if they’ve done this because it’s a very scary time in the world and it’s like okay buddy you’re 10 we can calm down you don’t you don’t need to be scared for all of us.
00:32:32.430 –> 00:32:47.640
Skyler Samp: Well yeah I mean it’s it’s funny because it’s you know for somebody slightly younger like growing up, I haven’t had one conversation with an individual about wills or trust, etc.
00:32:48.150 –> 00:33:12.210
Skyler Samp: And up until the last year or two and it’s amazing how many times I be there, you know somebody broach the topic with me both either asking for advice or you know I hear a lot of unfortunate stories like I can’t express enough to friends and family how excuse me how important it is.
00:33:13.230 –> 00:33:26.220
Skyler Samp: To not you know, let a loved one go through you know the the process of having a family member be deceased and then not having a will or trust.
00:33:27.570 –> 00:33:37.560
Skyler Samp: or not being able to to find their will or trust or fighting with siblings over what that what that will interest truly means and.
00:33:38.880 –> 00:33:46.950
Skyler Samp: I always tell them, you know try your best to get to an online a State plan, because that will eliminate questions.
00:33:48.750 –> 00:33:58.500
Skyler Samp: There it’s it’s amazing, you know as an attorney how many times I have dealt with cases where you don’t know when a will was signed.
00:33:59.190 –> 00:34:06.960
Skyler Samp: You don’t know whether you know the person who signed it was in the right state of mind, etc, when you have.
00:34:07.350 –> 00:34:17.910
Skyler Samp: An online a State plan it can help rectify a lot of those issues a lot of these changes to the wheels are timestamp you know if the person can sign into it do it on their own accord.
00:34:18.930 –> 00:34:32.610
Skyler Samp: there’s at you know there’s evidence that they they have the mental awareness to do it that there’s a lot of different things that it’ll save a lot of stress time and money and it.
00:34:32.640 –> 00:34:39.630
Renee Fry: Just the benefit you and how there’s hardly any stories right that we get ahead yeah yeah absolutely I mean losing a loved one.
00:34:39.990 –> 00:34:43.830
Skyler Samp: is hard enough, but the legal battles that can.
00:34:44.370 –> 00:34:46.680
Skyler Samp: That can, if you don’t have a defined.
00:34:46.770 –> 00:34:48.240
Skyler Samp: estate plan, I mean those.
00:34:48.330 –> 00:34:58.920
Renee Fry: Those are hard says there’s an expensive, so I have two questions, so I think they all going backwards or so Christina asked if we could do demos to potential clients to see how the system works.
00:34:59.280 –> 00:35:06.180
Renee Fry: yeah definitely so definitely show people how the system works and even send some code, so people can try things out.
00:35:06.810 –> 00:35:18.180
Renee Fry: But one of the things that we’re very proud of, is making sure that people really get a chance to get in and kick the tires and understand what options, they have and creating their documents trying out Jen trio coaches, for when people are.
00:35:18.660 –> 00:35:23.370
Renee Fry: Either having questions or going through things so yep just let us know and.
00:35:24.720 –> 00:35:31.260
Renee Fry: i’ll put my email in the chat and then skylar Maybe you can tackle this one for Antonio he said he has a lot of assets.
00:35:31.950 –> 00:35:48.630
Renee Fry: And like properties and cars and he wonders if you need what he needs to do to ensure everything is transferred to his wife or children should something happen and what’s the ideal approach is it a living well, is it a full on state plan and where should he start.
00:35:49.230 –> 00:35:59.940
Skyler Samp: sure now i’ll start with the disclaimer that although i’m an attorney please don’t take anything that I say as direct legal advice, think of this more as general legal advice, but.
00:36:00.750 –> 00:36:13.440
Skyler Samp: The correct answer is, it depends, and there, there are a lot of legal documents in the state planning that can help you exactly what you want to do and that’s the that’s the beauty of it.
00:36:14.130 –> 00:36:25.110
Skyler Samp: When you create a legal document it helps you determine exactly what you specifically want to do now, if you’re if you have a lot of assets like properties cards, etc.
00:36:26.010 –> 00:36:36.660
Skyler Samp: You typically want a will and a trust Okay, if you don’t have a will or a trust typically in your state everything falls into what’s called probate.
00:36:37.140 –> 00:36:42.960
Skyler Samp: And probate is for an attorney the know knows it’s you you let the government handle it.
00:36:43.530 –> 00:36:58.980
Skyler Samp: And the government will go through your state’s legal process as to where those assets go they could go to you know your your wife first typically than your children than their children than your parents and.
00:36:59.430 –> 00:37:19.920
Skyler Samp: A sibling and there for it to get to all of those individuals exactly the way a State wants it takes a lot of time and it takes a lot of money and it’s very frustrating now if you have a will a will is going to let you determine what happens.
00:37:21.120 –> 00:37:35.670
Skyler Samp: You know, with those assets, when you die now if you create a trust a trust then takes that will and says Oh, we will disperse it not the state okay so having both is usually key.
00:37:36.240 –> 00:37:50.100
Skyler Samp: And the beauty of it is you can have a living will and a living well is something or sorry a living, trust and a living, trust is something that’s you could have major benefits to while you’re alive.
00:37:51.600 –> 00:38:00.450
Skyler Samp: You can transfer titles out of your name, so that creditors can’t go after it, and you can still reap the benefits of living.
00:38:00.900 –> 00:38:11.490
Skyler Samp: On a residence that’s not in your name and knowing that there’s potential tax benefits and your wife or children, or whoever, you want to get it is going to be insured to receive that.
00:38:12.810 –> 00:38:18.900
Skyler Samp: And the beauty of a lot of the online estate planning, especially with Jen trio is.
00:38:19.800 –> 00:38:34.800
Skyler Samp: When you go on to their websites they explain these things to you, they explain the perks of having a will or a trust or and they help walk you through it, who do you want to have received this what you can create what’s called the class.
00:38:34.860 –> 00:38:35.700
Skyler Samp: The classes.
00:38:35.970 –> 00:38:47.190
Skyler Samp: could be your children could be your grandchildren, but it walks you through step by step, and explains to you, each concept and what exactly you’re doing.
00:38:48.210 –> 00:38:58.620
Skyler Samp: And, and it will help you list your your assets your cars your real estate bank accounts everything varies is specifically as you want to get.
00:38:59.100 –> 00:39:10.650
Skyler Samp: it’ll help walk you through it and you know it’s very straightforward it’s kind of like the concept of like a turbo tax, most people are daunted by the idea of doing their taxes.
00:39:10.980 –> 00:39:28.110
Skyler Samp: But now it’s pretty common place for somebody to go online be walked through the process and feel very comfortable with with the the process, whether or not they know the tax code and that’s kind of what you know something like a gen trio does is it helps you walk through the.
00:39:28.110 –> 00:39:42.690
Skyler Samp: concepts and you know it’s it’s pretty straightforward so yeah a lot of the time you don’t need an attorney, but they also have online resources and coaches, that will help you know explain certain concepts to use.
00:39:42.780 –> 00:39:44.190
Renee Fry: It skylar right.
00:39:44.640 –> 00:39:45.150
Renee Fry: So and.
00:39:47.790 –> 00:39:54.000
Renee Fry: i’m Christine I you just asked is it $25 per year per employee yep which entry Oh, it is yeah if you buy the.
00:39:54.690 –> 00:39:58.320
Renee Fry: seat license for your employees it’s $25 per person per year.
00:39:58.740 –> 00:40:09.060
Renee Fry: And that gives them all the ginger is you can create any of the documents, all of them and you’re all so everything from the health care proxy to the power of attorney to the will to living trust.
00:40:09.480 –> 00:40:21.360
Renee Fry: And then you get to save all of that and share that in your digital ball and then you get to pick and choose by which piece of information or document you’d like to share with it, but it is, it is only $25 per year per employee.
00:40:22.320 –> 00:40:38.670
Renee Fry: And one question that’s often asked you is and if employees have already done estate planning can they still use this is, this is an antigen trail but yeah definitely because what we encourage people to do is upload their documents into their digital ball and give people.
00:40:40.200 –> 00:40:47.130
Renee Fry: access to the documents that have been created, because one of our folks on our team Chris.
00:40:47.670 –> 00:41:02.490
Renee Fry: He has they almost lost a $50,000 life insurance policy because their mother and hidden under her sock drawer, so no one could find it and she was almost successful with not sure they didn’t find it but they found it as they were cleaning out her things so so Christine.
00:41:03.660 –> 00:41:09.300
Renee Fry: it’s by headcount for the $25 for Jen trio, and then, if it’s only for those who participate it’s.
00:41:09.570 –> 00:41:16.650
Renee Fry: $85 per year if it’s only for those who participate and that can be paid by the person who wants to participate, for the $85 for the company.
00:41:16.980 –> 00:41:28.020
Renee Fry: And we have a couple different models that work because, again we just want to make sure this affordable for people, because having lived through this one again my parents i’m paying $10,000.
00:41:28.920 –> 00:41:37.350
Renee Fry: or just just so many sad stories that we get from folks who don’t have the documents they have lots of questions they’ve gotten really bad like.
00:41:37.950 –> 00:41:46.140
Renee Fry: Your Google, you can Google anything out there and get crazy answers to things, and so we really want to make sure that people have the tools to make sure that they can protect.
00:41:46.800 –> 00:41:52.620
Renee Fry: their loved ones and then all they’ve worked for hard as well, like there was this crazy statistic that.
00:41:53.250 –> 00:42:12.000
Renee Fry: We just learned that if you don’t have all these documents and things like this done, you lose three to 8% of your assets and probate so between legal fees and lawyer fees and court costs your assets, you lose all three to 8%, and so one of our board members.
00:42:13.200 –> 00:42:23.910
Renee Fry: He wrote an article today about how he had to learn all this and a little bit the hard way to because he’s a second generation.
00:42:24.840 –> 00:42:34.620
Renee Fry: African American man who he is his family just hadn’t thought about anything like this before, and so they got taken advantage of by flares and folks that.
00:42:34.890 –> 00:42:40.080
Renee Fry: Really weren’t out for their best interests, so why we try to make it as affordable, as we want to make sure that we can help everybody.
00:42:40.290 –> 00:42:50.340
Renee Fry: And there’s never any up charges or anything like that the only thing that anybody might get charged for it is if they do want to talk to an outside lawyer, just to make sure they feel like they’ve done everything right.
00:42:50.610 –> 00:43:00.810
Renee Fry: We have lawyers across 50 states that will help people it’s $250 and 97% of the people never need that attorney that’s, just in case they want to have that extra blessing.
00:43:01.920 –> 00:43:08.160
Renee Fry: And then, Claudia just asked doesn’t have to be parallel deducted or it can be direct pay either way we we do both virgin true.
00:43:10.860 –> 00:43:13.980
Skyler Samp: yeah and renee touching on the value of.
00:43:14.580 –> 00:43:30.720
Skyler Samp: Of the paying an attorney a flat fee to review typically in the legal world, a lot of your costs are having attorneys drafting having them draft documents having them revised documents having them do legal research for you.
00:43:32.130 –> 00:43:48.000
Skyler Samp: An attorney can charge a way more than $10,000 to do those things for you, but if you just simply want to have an attorney review for a flat fee of $250 that’s unreal, that is, I mean the benefit there is exponential.
00:43:50.520 –> 00:43:53.760
Renee Fry: yeah and again, most people don’t need that they don’t have.
00:43:54.330 –> 00:44:04.500
Renee Fry: But it’s one of those things that you just in our back pocket it’s something that we again just want to make sure people feel like they’re being taken care of that that everything is secure.
00:44:04.950 –> 00:44:12.120
Renee Fry: And again, we went over the code numbers and why people are feeling the need for this, but it really in a time of uncertainty.
00:44:12.780 –> 00:44:29.730
Renee Fry: To having things that really can make sure you’re protected it’s a fantastic benefit because you’re just the questions that people have that in the past that just never got answered kind of that’s that’s been when we do webinars so like if a company buys gentry.
00:44:30.810 –> 00:44:37.440
Renee Fry: One of the things we do is we do webinars for the companies throughout the year that’s something they asked for, and those are free.
00:44:37.830 –> 00:44:41.700
Renee Fry: But during the webinars lots of the questions come out and this is where people.
00:44:41.970 –> 00:44:54.450
Renee Fry: Have kind of either been afraid to ask this or you know, sometimes I just have wrong information so skylar does a number of those videos for the companies, as well as when people are first getting started and then mid year checkups.
00:44:54.750 –> 00:45:02.970
Renee Fry: And then, one of the things that we do for folks to is an annual review make sure they have all their documents see if anything has changed in their lives, but also if they.
00:45:03.540 –> 00:45:15.000
Renee Fry: The employers would like to like just having skyler or some of our other lawyers do the session with them to not give legal advice, but make sure people are asking themselves the right questions and putting it into the correct context.
00:45:18.210 –> 00:45:22.440
Renee Fry: Again, this is where we’re funded enterprise, or like do you have a will, is it updated so.
00:45:23.250 –> 00:45:25.530
Renee Fry: anybody else have any questions or.
00:45:27.090 –> 00:45:38.820
Renee Fry: And don’t underestimate the tech thing too, because I know I made skylar focus on that more, but this is kind of how pet insurance has become a good benefit by some of the things there, and when I can tell you from the webinars when we get going.
00:45:39.150 –> 00:45:47.040
Renee Fry: And people have questions about you know who’s going to get their pet if they pass away because some insane number right scholar about how many pets go to shelters and.
00:45:47.580 –> 00:45:57.480
Renee Fry: put down if people don’t it’s just really sad, so what we try to do is help people take the prevent Defense i’ll use a football term there a prevent Defense and make sure those stats don’t happen.
00:45:57.690 –> 00:46:04.950
Skyler Samp: yeah and you touched on it earlier in the presentation, but I do think it’s important you talked about inflection points right.
00:46:05.460 –> 00:46:22.650
Skyler Samp: times when people would need to potentially revise or change their estate plan you touched on moving out of state, but if you really think about it, if a loved one or yourself falls ill, if you have a child if somebody passes away.
00:46:23.670 –> 00:46:35.820
Skyler Samp: If you your assets change, I mean that that’s that could be every day of your life and that’s the each time that happens, you should be going back.
00:46:36.150 –> 00:46:48.870
Skyler Samp: And at least reviewing your state plan and looking to see if, whether or not it needs to be changed and that’s just most people can’t do that if they’ve just got a pen and paper or an ink.
00:46:49.380 –> 00:46:55.710
Skyler Samp: You know just a plan it’s just it’s too expensive, is too time consuming it’s too stressful for them to do that.
00:46:57.480 –> 00:47:05.730
Renee Fry: So so Christine had a question for employees to take service can they take it with them if they leave the employer, they can yeah so so two different things one.
00:47:06.420 –> 00:47:14.700
Renee Fry: They get an ample time to make sure if they want to sign up later as an individual, they can they get it for the year the employer paid for, and then, no matter what to.
00:47:15.840 –> 00:47:29.640
Renee Fry: One of the things we try to make sure to that you can print out any of your documents at any time before your membership ends we over to that, but yeah we’re very, very cognizant of making sure that people can make sure that they get to use the tool.
00:47:33.090 –> 00:47:33.900
Renee Fry: Well, it was helpful.
00:47:37.350 –> 00:47:37.890
Skyler Samp: All right.
00:47:38.700 –> 00:47:41.400
Renee Fry: anybody else any questions before we sign off.
00:47:43.620 –> 00:47:47.700
Renee Fry: Now, and this is where to it if it’s just questions were obviously you know we.
00:47:48.150 –> 00:47:55.530
Renee Fry: If you have more questions about ginger ale or estate planning benefits in general we’re happy to help with any of those so our website is.
00:47:57.240 –> 00:47:57.840
Renee Fry: calm.
00:47:58.140 –> 00:48:08.250
Renee Fry: But then my email address i’d put in the chat is our pri at Jen trio calm and again interest answer three generations, because we know, this is something people need to.
00:48:09.090 –> 00:48:21.960
Renee Fry: You know cross their lives, but you know whether or not you use us we’re always happy to try to help folks get to the right places and make sure that is your employees are going through so much that we’re somewhere that you know we’re a place people can get help.
00:48:23.520 –> 00:48:25.890
Renee Fry: Great Thank you take care.
00:48:26.490 –> 00:48:27.420
MP: Right, thank you.
00:48:27.480 –> 00:48:35.010
MP: amazing Thank you renee and skylar lots of valuable information on a complex topic any questions that were not able to be answered.
00:48:35.520 –> 00:48:42.810
MP: Or, if you have any other questions from today’s program you’ll receive a response via email within five to seven business days.
00:48:43.590 –> 00:48:55.950
MP: MP HR team is here to help guide your organization any HR compliance issues if you’d like to learn more about how we can assist your organization, please visit our website to set up a short 15 minute call.
00:48:56.220 –> 00:49:03.720
MP: and be sure to join us next week on the same day and time for our webinar on AC reporting to learn key updates and tips for 2022 or.
00:49:04.500 –> 00:49:16.680
MP: visit our website to register and see the full calendar of upcoming events and available resources will be sending out a recording of today’s webinar with the presentation slides this afternoon thanks for joining us today and have a terrific day.
General Counsel, Gentreo
Recruiting in 2022 is more challenging than ever. Benefits packages are a critical key to success in attracting top talent. Estate planning, often overlooked, is a secret weapon in your benefits package offering. Join estate planning experts Renee Fry and Skyler Samp to learn more about estate planning and how it may fit into your benefits offerings.
Register for the webinar to:
- Learn how estate planning elevates a benefits package to attract today’s demanding candidates
- Discover 4 ways estate planning could appeal to candidates and improve employee retention
- Find out why employees want benefits like estate planning more than ever, especially in the wake of the pandemic
- Uncover how estate planning helps employers court more experienced, established talent