Estate Basics

Hey Coach

You spend years building your wealth - through coaching, side gigs, and investing. But have you drawn up your final play?
Estate planning isn’t just for the wealthy - it’s for anyone who wants to protect their family, control their legacy, and make sure their hard-earned money goes where it should.

🧾 1. The Will - Your Playbook After You’re Gone

A will is your written game plan for what happens to your stuff when you’re no longer here.
Without one, state laws decide who gets what - not you.

Your will can:

• Name who receives your assets (family, charities, etc.)

• Appoint guardians for minor children

• Designate an executor to handle your estate

Coach’s Tip: Even a simple will is better than none. Update it every few years or after major life events (marriage, new child, home purchase, etc.).

👥 2. Beneficiaries - The Direct Pass

Your beneficiary designations on accounts like life insurance, 401(k)s, and IRAs override your will.
That means whatever name is on those forms gets the money - no matter what your will says.

Coach’s Tip: Review beneficiaries annually or when big life changes happen.
You don’t want an ex-spouse or outdated contact listed on your retirement plan.

🏦 3. Power of Attorney & Health Directives - The Assist

Estate planning isn’t just about what happens after you pass - it’s also about what happens if you’re unable to make decisions.

• Financial Power of Attorney: Lets someone you trust handle bills, taxes, or contracts if you can’t.

• Health Care Directive: Outlines your medical wishes and who can make choices for you.

Coach’s Tip: Choose reliable, level-headed people for these roles. It’s about trust, not convenience.

🧠 4. Why It All Matters

You work hard to provide for your family. Don’t let confusion or court delays steal time, money, or peace of mind from them.
A few hours of planning now can save months of stress later.

Think of it as running the right system - so even when you’re not on the court, your team still wins.

🏁 Final Whistle

✅ Create or update your will
✅ Check all beneficiary forms
✅ Assign a power of attorney & health directive
✅ Tell your family where your documents are stored

This is one of the most loving financial moves you can make.

🧩 Bonus Resource

Need a starting point? Check out FreeWill.com or RocketLawyer.com to draft a simple plan, then talk with a local estate attorney for customization.

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And if you’ve got questions, stories, or just want to say hey—leave a comment or send a message. I’d love to hear from you.

Coach Mike Klinzing
Founder, Wealth4Coaches
"Coach smarter. Save better. Live freer."

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