S2.E39. Navigating Estate Planning; How To Have Tough Conversations About The Transition of Family Wealth
In the black community, we really just don't talk about death and hardly ever prepare for the transition of assets from one generation to the next. These conversations are often not had until after our loved ones have passed on and we start trying to unravel the financial life of the deceased either in a funeral home or via probate court. While we all know the stress that losing a loved one puts on a family, just imagine the drama that transpires after Big Mama is gone and her home and assets need to be equitably distributed throughout her 12+ descendants. While this sounds like the start of a black BET Network movie, this is the reality that many of us face.
The Association of Black Estate Planning Professionals notes that "Black Americans today own little ⎯ if any ⎯ of America’s land, produce little if any of the country’s resources, and possess negligible amounts of this nation’s immense wealth. Yet Black Americans still project an aspiration based on blind faith in the American Dream". Much of our community's current lack of wealth is due in large part to how we plan for death versus funerals. So the Amerikan Therapy team sits down with some savvy legal and insurance experts to help us better understand how to ensure the effective passing on of generational wealth via legal, tax, and insurance structures.
Ashley Stepps, Esq:
Ashley was born and raised in the Arkansas Delta in Pine Bluff. She is a graduate of Delaware State University and received her law degree from the University of Arkansas at Little Rock – William H. Bowen School of Law.
Formerly with The Raymon B. Harvey Law Firm, Ashley’s career has been spent serving elderly and special needs clients, their families, and loved ones as they encounter the legal issues that accompany aging and disability. She works to assist her clients in making sense of the intricate legal areas of elder law including probate, estate planning, and long-term care/Medicaid planning. She aids her clients with accomplishing their specific goals by developing plans that are unique to them.
As well as being a frequent National Business Institute speaker, she has written, planned, and presented programs on various elder law subjects for several professional,s and her writings on pet trusts have been published by Outskirts Press. Ashley is also a Veterans Administration (“VA”) Accredited Attorney.
She is a past Chair of the Elder Law Section of the Arkansas Bar Association, a member of Delta Sigma Theta Sorority, Incorporated, Phi Alpha Delta Legal Fraternity International, and the American Bar Association. Ashley has been selected as a Rising Star in Elder Law by Super Lawyers since 2018 and has been named one of the Top Attorneys in Arkansas in the area of Elder Law by Arkansas Life Magazine on multiple occasions.
Location: Conway, Arkansas
Vanessa A. Lindley, the CEO of Lindley Consulting Group LLC is a transformative thought leader, trainer, coach, and author. She has 25-plus years’ in the finance industry and is an alumnus of the Goldman Sachs 10K Small Business program. Her company is a certified Minority Women Business Enterprise (MWBE). Her mission is to transform the lives of individuals, organizations, and communities.
As an author, Vanessa has written publications and curricula such as, “Achieve Financial Victory, 7 Ways to Win With Your Money,” “Realizing the American Dream,” “Life Balance for the Women on the Rise, “Financial Coaching: Helping Clients Reach Their Goals” and “Delivering Effective Financial Education for Today’s Consumer.” She is also the financial contributor for Women of More Magazine
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