The Cajun Counselor

8. Estate Planning Beyond Taxes and Trusts

The most important question a client asks is, “Can this person help me?”
“I don’t care about being the smartest guy in the room. My goal is to be the best listener in the room.”
“Don’t let the tax tail wag the rest of the dog.”
 
Episode summary |
In this engaging interview, Paul Hood and John A. Warnick explore the human side of estate planning, emphasizing the importance of purposeful planning, effective client communication, and innovative ideas like ethical wills. They share insights from decades of experience, highlighting how deep listening and emotional connection can transform estate planning into a meaningful, relationship-driven process.
Cajun Counselor Takeaways |
The importance of the initial client interview as a foundational moment
The role of emotional connection and deep listening in estate planning
Innovative concepts like ethical wills and family legacy documents
The impact of psychological principles and values priming on client decision-making
The influence of mentors and thought leaders in shaping estate planning practices
Chapters | 
00:00 Introduction to Purposeful Planning
02:53 The Current State of Estate Planning
05:39 The Journey of John A. Warnick
08:31 Foundational Insights from the Initial Client Interview
11:16 The Human Side of Estate Planning
14:03 Mentorship and Influence in Estate Planning
17:06 The Importance of Listening in Client Relationships
20:07 Beyond Taxes: The True Value of Estate Planning
22:57 Psychology and Estate Planning: A Deeper Connection
25:33 The Art of Client Interviews
28:20 Conclusion and Future Directions
29:42 The Art of Active Listening
30:42 Understanding Mortality in Estate Planning
32:32 The Psychology of Estate Planning
37:15 Values Priming in Client Interviews
39:22 The Concept of Ethical Wills
45:03 Building Family Legacies Together
47:15 The Dysfunction of Traditional Estate Planning
51:46 Reflections and Future Directions
Guest Bio |
 
John, affectionately known as "John A", Warnick began his professional career as a tax attorney in 1979. In his early professional career he was the co-author of one BNA Tax Management Portfolio and the sole author of another. He has been published in law reviews, Trusts & Estates magazine, Probate and Property and served as the Philanthropic Editor of CCH's Journal of Practical Estate Planning.  He was a fellow of the American College of Trust and Estate Counsel from 1994 until 2022.  He founded the Purposeful Planning Institute in February 2010 and currently serves on its board and teaches the Purposeful Trusts & Legacies Mastery course.
 
Guest Resources:
Purposeful Planning Institute - https://purposefulplanning.com/
Death, Property, and Lawyers by Tom Schaefer: https://www.abebooks.com/signed/Death-Property-Lawyers-Behavioral-Approach-Shaffer/32333938740/bd
Ernest Becker's Denial of Death: https://www.amazon.com/Denial-Death-Ernest-Becker/dp/0684832402
 
Bridge Between Resources:
Paul Hood Services
Yours, Mine & Ours by Paul Hood
Buy-Sell Agreements by Paul Hood
Credits: Host Paul Hood, Paul Hood Services.
Coming Next: Please join us in two weeks for Episode 9.

7. Family Meetings and Irish Whiskey Bequests

“Culture eats structure for breakfast.”
“The days that break you are the days that make you.”
 
Episode summary |
In this episode of The Cajun Counselor, Paul Hood discusses various topics related to family businesses, estate planning, and philanthropy. He shares a humorous St. Patrick's Day bequest, introduces the concept of the Keeper-Sell meeting, emphasizes the importance of accountability and transparency, and delves into the intricacies of donor-advised funds. The conversation is rich with insights on family dynamics, business strategy, and the significance of legacy planning.
 
Cajun Counselor Takeaways |
The Keeper-Sell meeting is crucial for family businesses.
Non-family members should lead family meetings.
Children's input in family meetings can be valuable.
Accountability is essential in personal and professional life.
Donor-advised funds offer anonymity in charitable giving.
Private foundations require significant funding to be effective.
The advisory privileges of donor-advised funds are under scrutiny.
Family dynamics can impact business decisions significantly.
Maintaining transparency is key to successful family businesses.
 
Chapters | 
00:00 Introduction and St. Patrick's Day Bequest
03:39 The Keeper-Sell Meeting Concept
15:15 Days That Break You Are Days That Make You
19:39 Understanding Donor-Advised Funds
 
Paul’s Resources:
Paul Hood Services
Yours, Mine & Ours by Paul Hood
Buy-Sell Agreements by Paul Hood
 
Credits: Host Paul Hood, Paul Hood Services.
Coming Next: Please join us in two weeks for Episode 8, with Special Guest, John A. Warnick.

6. Navigating the Complexities of Blended Families

“I’m a firm believer in family by choice.”
“What can we do to cultivate authentic trust in family systems?”
“When we have an open heart, compassion, and empathy, there’s a way to genuinely meet that person there.”
 
Episode summary |
In this engaging conversation, Paul Hood and Emily Bouchard delve into the complexities of blended families and the importance of estate planning. They share their journey of co-authoring a book on the subject, discuss the dynamics of communication within blended families, and explore the significance of joint versus separate representation in estate planning. The conversation also touches on modern family structures, including online relationships and wealth disparities, while emphasizing the need for thoughtful planning to accommodate diverse family dynamics. In this conversation, Paul Hood and Emily Bouchard explore the complexities of family dynamics, particularly in blended families, and the importance of effective estate planning. They discuss the concept of 'family by choice,' the challenges of economic dependence, and the intricacies of prenuptial agreements. The dialogue emphasizes the need for clear communication, preparation of heirs, and the role of love and gratitude in navigating these sensitive issues. The speakers advocate for mediation and collaborative approaches to ensure that family relationships remain intact during difficult transitions.
 
Cajun Counselor Takeaways |
Blended families require unique estate planning considerations.
Joint representation in estate planning can lead to conflicts of interest.
Communication is key in blended family dynamics.
Separate representation may be necessary for one partner's protection.
Understanding the history of a couple can inform estate planning.
Online relationships present new challenges for estate planning.
Wealth disparities can complicate representation in blended families.
Modern families include committed unmarried couples and polyamorous relationships.
Estate planning must adapt to evolving family structures and gender identities.
Personal stories can illustrate the complexities of blended family dynamics. Family by choice can create strong support systems.
Economic dependence can complicate family dynamics.
Step families face unique challenges in estate planning.
Prenuptial agreements can lead to conflicts if not handled properly.
Mediation can help couples navigate complex estate issues.
Communication is key in preparing heirs for their roles.
Tangible personal property can create disputes among family members.
Love and gratitude are essential in family planning.
Educating family members about their roles is crucial.
Avoiding conflict in estate distribution requires careful planning.
 
Chapters | 
00:00 Introduction to Blended Families and Estate Planning
02:45 The Journey of Co-Authoring a Book
05:44 Understanding Blended Family Dynamics
08:42 The Importance of Joint vs. Separate Representation
11:43 Communication Challenges in Blended Families
14:32 Navigating Online Relationships and Cohabitation
17:30 Addressing Wealth Disparities in Relationships
20:22 Modern Family Dynamics and Estate Planning
23:28 Personal Stories and Evolving Family Structures
25:28 Family by Choice and Economic Dependence
26:52 Navigating Step Family Dynamics
29:14 Prenuptial Agreements and Estate Planning
32:17 Mediation and Collaborative Approaches
34:49 The Importance of Communication in Estate Planning
37:26 Preparing Heirs for Their Roles
39:04 Avoiding Conflict in Estate Distribution
40:57 Tangible Personal Property and Family Dynamics
44:10 The Role of Love and Gratitude in Planning
 
Guest Bio |
Emily Bouchard is a coach and consultant to enterprising families and is dedicated to unlocking the full potential of individuals, couples and families, by guiding them through the complexities of wealth, relationships, and leadership. She is an author and speaker with over 20 years of experience coaching multigenerational families, with specializations in blended family dynamics and family business succession. As a fractional Chief Learning Officer, she designs personalized learning experiences that focus on lifelong growth, emotional intelligence, and financial acumen. She lives on 10-acres with 9 horses, where she facilitates transformative retreats.
 
Guest Resources:
Little Book of Trust and Money: An Essential Primer for Families by Charles Feltman
 
Bridge Between Resources:
Paul Hood Services
Yours, Mine & Ours by Paul Hood
Buy-Sell Agreements by Paul Hood
 
Credits: Host Paul Hood, Paul Hood Services.
Coming Next: Please join us in two weeks for Episode 7.

5. Happy Carnival Season!

“The client, and the client alone, has to be in charge of their own planning.”
 
“One of the beautiful things about stoicism is I constantly remind myself… A, that I'm mortal.
B, that I'm not indispensable. C, that I have no control over anything outside of myself.”
 
“You need to know who you are to know where you’re going.”
 
Episode summary |
In this episode of The Cajun Counselor, Paul Hood discusses the significance of Mardi Gras and shares his personal experiences with king cakes. He delves into his philosophies on estate planning, emphasizing the importance of client empowerment and the need for plans to reflect clients' goals. Paul also touches on stoicism, teaching Marcus Aurelius, and shares humorous Cajun jokes. He highlights the importance of thoughtful bequests and the complexities of decanting in trusts. Finally, he recommends several insightful books related to estate planning and financial literacy.
 
Cajun Counselor Takeaways |
Mardi Gras is a significant cultural event in Louisiana.
Clients should be in control of their own estate plans.
Estate plans must reflect the client's goals, not the advisor's.
Stoicism can provide valuable life lessons.
Humor can be a great way to connect with clients.
Bequests should be made thoughtfully to avoid family conflict.
Decanting trusts can be complex and requires careful consideration.
Understanding generational wealth is crucial for financial planning.
Alignment in financial goals is key to success in relationships.
Knowing your 'why' can lead to greater fulfillment in life.
 
Chapters | 
00:00 Celebrating Carnival and Mardi Gras
02:19 Philosophies of Estate Planning
08:12 Teaching Stoicism and Marcus Aurelius
10:47 Cajun Humor and Jokes
15:54 The Importance of Thoughtful Bequests
20:31 Understanding Decanting in Trusts
24:51 Book Recommendations for Estate Planning
 
Paul’s Resources:
Paul Hood Services
Yours, Mine & Ours by Paul Hood
Buy-Sell Agreements by Paul Hood
 
Credits: Host Paul Hood, Paul Hood Services.
Coming Next: Please join us in two weeks for Episode 6, with Special Guest, John A. Warnick.

4. Is the Juice Worth the Squeeze?

“What goes through the client's mind? And the first question really says it all. Can this person help me or us?”
“Generational trauma can impact family wealth dynamics.”
“I loved meeting clients in their offices and homes far more than in my office. They're more comfortable there.”
 
Episode summary |
In this episode, Paul Hood, The Cajun Counselor, explores the intersection of Cajun culture and estate planning. He begins with a festive rendition of the Cajun 12 Days of Christmas, transitioning into a discussion on the risks associated with DIY estate planning. Paul shares insights from his experiences with initial client interviews, highlighting the concerns of both estate planners and clients. He emphasizes the importance of understanding client expectations and the impact of generational trauma on family wealth. The episode concludes with book recommendations and thought-provoking quotes related to wealth and life.
 
Cajun Counselor Takeaways |
DIY estate planning can lead to significant legal issues.
Initial client interviews reveal concerns for both planners and clients.
Understanding client expectations is crucial for effective estate planning.
Generational trauma can impact family wealth dynamics.
Books on personal finance and estate planning can provide valuable insights.
Maintaining confidentiality is essential in client relationships.
The importance of empathy in estate planning discussions.
Clear communication can prevent misunderstandings with clients.
Quotes can provide wisdom and perspective on wealth and life.
Balancing personal and professional life is key to success.
Chapters | 
00:00 Cajun Christmas Traditions
02:00 The Risks of DIY Estate Planning
07:14 Initial Client Interviews: Estate Planner's Perspective
18:29 Initial Client Interviews: Client's Perspective
24:49 Book Recommendations for Estate Planning
29:14 Closing Thoughts and Quotes
 
Paul’s Resources:
“Money Isn’t Everything, Everything is Money” by Tom Shepard
“Inherited Trauma and Family Wealth” by Ruschelle Khanna
“The Soul of Wealth” by Daniel Crosby
Paul Hood Services
Yours, Mine & Ours by Paul Hood
Buy-Sell Agreements by Paul Hood
 
Credits: Host Paul Hood, Paul Hood Services.
Coming Next: Please join us in two weeks for Episode 5, with Special Guest.

3. A Very Cajun Christmas

“When I was a little kid, my friends in the neighborhood, we would play trucks. When was the last time I played trucks? And did I know it was the last time?"
 
"Whole Person Professionalism - Fully cognizant that compliance with the codes of professional responsibility and professionalism does not require ethical or professional behavior in the classical sense."
 
"What's your WHY?"
 
Episode summary |
In this holiday edition of the Cajun Counselor, Paul Hood discusses significant changes in the United States Postal Service that impact tax filing deadlines, reflects on the poignant moments in life that may be the last, shares insights on professionalism in the legal field, and reminisces about childhood Christmas memories while setting personal health goals for the upcoming year.
 
Cajun Counselor Takeaways |
The Postal Service's changes could affect tax filing deadlines.
Using certified mail is crucial for important documents.
Life's moments may be the last without us realizing it.
Professionalism in law requires a holistic approach.
Setting personal health goals is important for well-being.
 
Chapters | 
00:00 Introduction and Holiday Greetings
01:16 Changes in the United States Postal Service
06:00 Reflections on Life's Last Times
07:03 Professionalism in Law Practice
16:28 Childhood Christmas Memories and Future Goals
 
Paul’s Resources:
Paul Hood Services
Yours, Mine & Ours by Paul Hood
Buy-Sell Agreements by Paul Hood
 
Credits: Host Paul Hood, Paul Hood Services.
Coming Next: Please join us in two weeks for Episode 4.

2. How Your Giving Could Change Lives

"The number one reason for divorce is differences in financial views and how you view and spend money."
“A charitable lead annuity trust is a pretty simple thing. You put money in, and you can do it during lifetime or at death, and for a certain term of years, a charity gets a percentage.”
“The Salvation Army in Alexandria on Beauregard Street was a safe haven for my poor dad in the 40s.”
 
Episode summary |
In this episode of The Cajun Counselor, Paul Hood discusses the recent coaching changes at Ole Miss, the intricacies of Charitable Lead Annuity Trusts, and reviews several insightful books on financial planning and family wealth. He emphasizes the importance of communication in prenuptial agreements and reflects on personal experiences with community service and giving.
 
Cajun Counselor Takeaways |
Lane Kiffin's departure from Ole Miss reflects the instability in college coaching.
The NCAA's transfer portal complicates loyalty in college football.
Charitable Lead Annuity Trusts can be beneficial for those with modest wealth.
Prenuptial agreements can foster better financial communication between couples.
True well-being in estate planning focuses on enhancing family welfare.
Community service can have a profound personal impact.
Emotional connections to charitable giving can shape our actions.
Understanding financial tools is crucial for effective estate planning.
Personal experiences can drive a deeper commitment to philanthropy.
 
Chapters | 
00:00 The Ole Miss Coaching Situation
05:13 Charitable Lead Annuity Trusts Explained
13:08 Book Reviews: Prenups and Family Wealth
19:15 Personal Reflections on Giving and Community
 
Paul’s Resources:
Paul Hood Services
Yours, Mine & Ours by Paul Hood
Buy-Sell Agreements by Paul Hood
Prenup Partnership by Kaylin Dillon
Family Wealth, Inheritance, & Well Being by Claudia Tordini 
Hug of War Cathy Carroll
Credits: Host Paul Hood, Paul Hood Services.
Coming Next: Please join us in two weeks for Episode 3.

1. Finding the Good and Living with Gratitude

“One of the things that I found most profound to do in my life is to occasionally when I feel really down and put upon, betrodden, I make a gratitude list.” 
 
“What a lot of those people are shown is a charitable remainder trust, which is, of course, the flip side of the lead. In a remainder trust, either the person who creates the trust or somebody else, or maybe one or two others, are the beneficiaries for a term of years.”
 
“I hope you eat way too much turkey.”
Episode summary |
In this heartfelt conversation, Paul Hood reflects on the importance of gratitude, especially during the Thanksgiving season. He shares personal anecdotes about his childhood Thanksgiving experiences, emphasizes the significance of making a gratitude list, and discusses the profound impact of being thankful. Hood also delves into the concept of philanthropy, introducing charitable lead trusts as a means for individuals to give back without feeling financially burdened. He concludes by acknowledging the historical context of Thanksgiving and the importance of community support.
Cajun Counselor Takeaways ||
Gratitude can transform our perspective on life.
Making a gratitude list can help during tough times.
Thanksgiving traditions often include cherished family recipes.
Philanthropy doesn't require immense wealth; everyone can contribute.
Charitable lead trusts can be a practical giving option.
Community support has been a cornerstone of American history.
Acknowledging Native Americans is important during Thanksgiving.
Reflecting on our history helps us appreciate the present.
Thanksgiving is a time for reflection and connection with loved ones.
 
Chapters | 
00:00 The Spirit of Thanksgiving
04:11 Gratitude and Reflection
08:01 Philanthropy and Charitable Giving
12:34 Thanksgiving Acknowledgments and Closing Thoughts
Paul’s Resources:
Paul Hood Services
Yours, Mine & Ours by Paul Hood
Buy-Sell Agreements by Paul Hood
 
 
Credits: Host Paul Hood, Paul Hood Services.
 
Coming Next: Please join us in two weeks for Episode 2.

Welcome to the Cajun Counselor! How y'all are?

"How y'all are?"
 
Episode summary |
In this pilot episode of The Cajun Counselor, Paul Hood introduces his podcast, focusing on the human side of estate planning, the importance of history in understanding tax law, and the ethical considerations in the profession. He emphasizes the need to address emotional and psychological issues in estate planning, particularly for families with less wealth. The episode concludes with a humorous quasi rap about the challenges in the estate planning process.
 
Cajun Counselor Takeaways |
History plays a crucial role in understanding tax law.
Technical loopholes in tax law often lead to unfavorable outcomes.
Ethics in law are often more about protecting the profession than true ethical standards.
Emotional and psychological issues in families are critical in estate planning.
High-net-worth marketing can exclude those who need help the most.
Estate planning should be accessible to all, regardless of wealth.
Clients often feel overwhelmed by the estate planning process.
Communication is key in addressing client concerns.
Humor can be an effective tool in discussing serious topics like estate planning.
 
Chapters | 
00:00 Introduction to the Cajun Counselor Podcast
05:11 The Human Side of Estate Planning
07:29 A Quasi Rap on Estate Planning
 
Paul’s Resources:
Paul Hood Services
Yours, Mine & Ours by Paul Hood
Buy-Sell Agreements by Paul Hood
 
Credits: Host Paul Hood, Paul Hood Services.
Coming Next: Please join us in two weeks for Episode 1.