Episode 357: Estate Planning, Elder Law & Entity Structures with Taylor Willingham

Welcome to another episode of the Above the Business podcast. My name is Bradley Hamner, your host. On today's episode, we have Taylor Willingham. He is the owner and founder of a multimillion-dollar estate planning and wealth preservation firm. You know, I try to think about all of the different aspects and ways to come at, you know, being a business, uh, business owner, entrepreneurship, et cetera. And when I saw Taylor's information, I thought, you know, that's an area that we just haven't covered. And so I thought it'd be great to be able to have him on because there's entity setup, there's structures. There's things that, you know, estate planning and elder law— what do those kind of things mean? And so maybe you have some family members, maybe you've had to deal with this personally, or maybe this will be helpful just for your general knowledge base. But I thought I picked up a lot of great things for— help me and, uh, my situation right now with our family dynamics and specifically with my mother. Um, but also I think it was reiterating and gave me some best practices that I can use to begin to think about something that otherwise it's just super easy to put off. Without further ado, here's my conversation with Taylor Willingham. Taylor, welcome to the Above the Business podcast.

Thank you for having me.

Excited to have you. Well, we start with background and origin stories. I want you to take our listeners back on your journey and how you got to where you are and what you do today.

Well, I, um, I guess began my journey in undergrad one day deciding that I was going to go to law school, not really understanding what that meant. Uh, no one in my family had ever been to law school or, um, actually, uh, um, any type of professional degree like that. So I went to law school and then ran into the, the problem of not realizing what a lawyer really does as, as a career. And it shocked me and went through that process of of going through law school, almost quitting. And during law school, I, I didn't like it very much. So I spent a lot of time working, started my first actual business in real estate. I was flipping houses. And so from there I jumped out because I graduated in 2009 and no one was really offering any jobs. So I was working for $10 an hour. For another attorney. And so I said, well, I can make more money on my own just by doing whatever. And so I jumped out and went on my own, financed it with credit cards. That was the only way I could. I had two little kids, so I had to figure out some way to finance it. So went out and started my own law firm. And because I knew real estate, I was heavily involved in real estate. And from there, what ended up happening is I was suing title companies and A title company offered me what was called the fee office if I'd stop suing them. And, uh, so now I, I have a title company with my law firm and I also still own real estate and run real estate business too. And I try to keep my businesses all centered and I have a software company and I try to keep them all centered around, uh, kind of what I do, which is estate planning, real estate, and probate law. And elder law too.

So, all right. So when we got started, or before we got started, I mentioned to you that we like to come at these different topics and elements of business and entrepreneurship from angles that we just maybe haven't explored. And this is one that I thought, you know what, we haven't actually had discussions around, uh, around this. And, and while it may not be specifically for all of you, uh, exactly about your day-to-day business, I definitely think that these things come up for all of us individually as, as people, and maybe but even more relevant for business owners and entrepreneurs because of the potential financial impact that some of these things have. So that being said, can you kind of— my kids are in, uh, school and they're in, um, their school age. And so, you know, I see and we work on things like vocabulary, right? And, uh, and so walk me through what do we mean elder law? Like, help me come to terms with some of these things because I hear probate and I hear elder law and I'm like, I have no idea what any of this means. I kind of think I do and I will fake it enough. Like I do, but like maybe walk me through, uh, this basics and then we'll get into some of the actual strategies here.

Yeah. So elder law is a horrible name for what, what we do. We, because I mean, of course we deal with people who are above 65. That's usually what we, when we say elderly, what we're dealing with, but really what elder law attorneys are doing is helping with the problems that face mainly people over 65. And those issues are the number one, which is long-term care problems. That's our number one thing that we usually deal with— someone going to a nursing home, assisted living, figuring out how in the world we're going to help that person finance that, or, you know, what, what things should they be worried about— elder abuse issues, uh, you know, people being robbed from Scams online, those type of issues that elderly people face. However, most of it is centered around long-term care because that's the number one problem that elderly people face, is they weren't planning on having to spend $10,000 extra a month on a nursing home, and now they have to. And so elder law is that area of law. So if you're dealing with parents or you yourself are facing that situation, that's what you want to find. You want to find the elder law attorney because they kind of focus on that specific area and how we can get you help, whether from the government or maybe helping you think through how you're going to finance it or something like that. So that's the main crux of elder law. It's a branch of estate planning, what estate planning attorneys do.

Ah, gotcha, gotcha. Okay. So I'm, um, I'll put one disclaimer out there and then I won't say it again. I may ask him some stupid questions, but maybe, uh, maybe some other people out there may have some of these questions as well. And again, the more that I've grown, the more that I've realized that, um, you know what, I'd just rather ask so that I can learn, uh, than not. At what point does estate planning matter? Here's what I'm saying. If you have a family member, a mother, a father who does not have a grandparent that maybe you're taking care of, um, etc., but they don't have a lot of assets, okay, like, and when I say a lot, they don't have very much at all, right? They have Social Security coming in and maybe some other things. At what point does this even begin to matter is what I'm getting at, right? I think people Logically, no. Oh, they got a multimillion-dollar estate. Of course they're going to bring in an attorney to, to navigate through that because, you know, you don't want siblings fighting for one another, right? Because we've got really nice cars and we got big houses and we've got lots of money and we get that, right? And we'll talk about some of those things for sure. But what are some of the things where it's like, when, at what point do we even bring in an attorney every time? Et cetera. Does that make sense?

Oh, absolutely. No. So every, everything's like a scale, you know, you're going on up and you start adding certain issues or certain things and it becomes, oh, this becomes a lot more complex where we need someone like a professional to come help. The easiest scenarios that I deal with are the people, you had two people or even one person, but usually a couple's the easiest. They're married, all their assets are together. They both just have W-2 employment. You know, those situations are probably the most straightforward, easy situations. All their kids are together, you know, and yeah, you can go, you can go to an attorney or you can go online and do your estate planning through like LegalZoom. Usually if that's your situation, it isn't so complex that, oh, we absolutely need an attorney. But now I'm going to start ratcheting up the problems when you need outside help. And when I say what you're really going to an attorney for is, yes, they're going to draft your documents for you, but more so they're like your insurance policy. So you're, you're going and hiring an attorney. So if he screws up, there's somebody to go after to try to fix this problem. And so like usually when people are coming, they go, wow, you're so much more expensive than just doing it online. It's like, well, yeah, because you're doing it online, you're just getting the documents. You're not— it's not being insured by anybody that I'm the one that has to come and testify or be involved as things go wrong. So let's scale up some things where if these are— if this is you, then you probably need to go talk to an attorney. So one, probably the most important that causes the biggest issues are going to be like blended families. So you, you have kids, your spouse has kids, or one of you has kids outside the relationship. Estate planning has become a lot more difficult because when one of you passes away, the other person, there really isn't an interest there to keep assets going to your kids or, you know, making sure your kids get what they're supposed to get. Plus you have the issue of when one of you dies, there's— the other kids are going to be like, well, we're going to be cut out. So there's a lot of legal battles that happen in that area. So of course there's the family structures that create issues. The next, since we're talking about business owners, I want to go over this one because I think it's probably one of the biggest disasters that I see all the time with business owners. If you own a business with somebody else that is not a family member, Then you absolutely need to be talking to an estate planning attorney that deals with business planning. Okay. There's, there's so many issues that arise. And so usually the main issues that are going to arise are, well, one that absolutely will happen is death. Sometime your partner will die in your business. And if you guys haven't talked about what's going to happen with the business at that point, it's going to be very difficult to deal with when you're now dealing with whoever is going to inherit his interest or her interest in that property. The second trigger that usually happens or can happen a lot is there's the divorce, the breakup of the partnership. You know, a lot of things happen over time. If you live long enough, you realize that you go through life cycles. And your partner might be going through a life cycle that you're doing everything, you're putting all the work in, they're checked out, and you want done. You're done with the relationship. Well, what happens in those scenarios? Well, you don't want to wait until things are great, you know, and then go, okay, now I want to break up. It's going to be very expensive for you. The third is going to be, well, what if What if you become incapacitated? That's going to be a significant problem if both of you are pulling in a check, because most reasons why you have a partner is because they bring in business. You know, you— if you work for a company, a professional company, and you're— let's say you're an attorney or dentist or whatever you are, you're only going to be an associate if all you do is do work. To become a partner, you have to bring work in, you have to bring business to the actual company. Well, you're— you have a partner, you're paying a salary to that person and you're getting income too. And then they have, you know, a stroke or something. Well, what happens in that scenario? How are you going to deal with that? So in that realm of estate planning, the document that we refer to that handles all that is called a buy-sell agreement. Okay, that's, that's if you're in a partnership with people outside of your family, that's what you need. But now, as you can see, it just got a lot more complicated. We have a whole bunch of things that we have to consider because you own a business. Even if you own your own business by yourself, it's another significant reason why you should be talking to an attorney, because those three things can happen to you. Well, what's going to happen? Who takes over the business? You know, does anybody have access to your bank accounts? I've dealt with a lot of probates in those situations where, you know, I have a very— one I talk about all the time. During COVID the doctor across the street passed away. They came to me because he hadn't done anything. He had about 4 or 5 employees. All of his nurses needed to get paid, but he had nobody else on the bank accounts. So we had to go through what we refer to as a temporary emergency administration with the court to get somebody access to get people paid. But by the time we got everything figured out, all of his employees had left. Pretty much his business was gone because nothing was put in structure the way that it was supposed to be structured. And then you get even into more complex issues when you're dealing with taxation. So as every— I'm sure you guys with coaching, this is a huge part of your coaching, is you got to deal with taxes because they're your biggest, biggest expense that you have. So how do you structure things when you're dealing in this situation so you can reduce your taxes legally and try to bring that down and maybe store some assets for the future, kind of figure out how to structure things properly. So as you can see, you start layering issues on. You need to get somebody that knows the path and knows how to deal with those issues to solve those problems.

You know, as you were talking, I think I was going through in my own experience, in my own mind, It's, it's easily something that you put on a list. I literally have a Google document that is my to-do list, and I'm gonna like put some of these things on there. And it's one of those things that nobody's pushing me to do. It's not even like insurance. You used insurance earlier, but in insurance, there's a forcing function. The state, your mortgage company, your lender that says, no, no, no, you have to have this. Like, we're not going to give you this house until you have proof of homeowner's insurance. And so there's a forcing function to go do it. Whereas with this, it seems like, oh man, it's like, it's not fun. It's not fun to do it. Right. It's not like a joy to do it. It can be, it can have a burden. Why am I saying all this? I'm saying all this to say, what are the things in addition to what you shared that maybe— how could I say this? A lot of it is an avoidance, right? Like, I just want to avoid the pain that could come, and that in and of itself could be enough. But man, the pressures of the day-to-day, and sometimes it's not even pressures— I want to go play golf, I want to go watch my son play golf, I want to go to my daughter's thing, I've got this thing I'm running. I've got a team to meet. I'm hiring a person. It just is so easy to get put off. Does that make sense? Let's be real.

No, it's absolutely— it's every year with taxes for me. I let it all back up until, you know, April 16th rolls around and then I file my extensions and I go, oh crap, now I got to— I got to deal with this because I got to— I'm now going to pay these bills. But there's, there's really nothing that forces you into this situation until the disaster happens. Yeah, you're exactly on point. And I'll give you my personal experience. Right around COVID had just started. I was at Jack in the Box. I still remember this. And they were talking about, hey, everybody's going to have to shut down their business for a month. Well, I had 23 employees. I had just purchased a new office building where I moved everything to. And, um, now I have the government telling me, oh, you're gonna have to shut down your business and for at least a month. And I have to somehow pay everybody. And I remember I walked into Jack in the Box and all this was going on my mind and I felt this like incredible pain in my chest, like just— and I thought I was having a heart attack. Yeah. And my friend had to drive me back to the office. And luckily, one of my employees at the time, her husband was a firefighter, and he called me. He says, oh no, you're just having a panic attack. Like, but I remember as I was driving back, like, even though I was an estate planning attorney, I told all these people I ever do it, I had some of my stuff in order. But things had changed and I had not fixed a bunch of things. And I was realizing like, oh crap, 23 people rely on me. Like to be organized, like their whole lives get screwed up if I don't fix this now.

Yeah.

And so that was one of the things that got me going was that experience. And I came back, rewrote, you know, I actually did a lot of thinking and restructured a lot of things, changed a lot of things that I was doing. In the way. And my business has actually significantly improved from the exercise because I realized, like, I hadn't planned with the end in mind. I was always just going day by day and running a business. But really, this was the end. When I'm no longer here, how are things supposed to be? Or I no longer can run this business. What needs to be put into place to make that happen?

Yeah.

And it really helped my business. Restructure and get structured. What would I would say would be properly structured and focused versus it being a Taylor-centered businesses? They're all about me, what I do, what I can bring in, instead of going, well, eventually that has to get past me if it's going to be a real business. Yeah. So how do I do that? And so I'm still working on it. There's still things I have to do to get past this point.

What is the current, um, doesn't the estate tax, I think it's a very political thing about what the estate tax amount is. So someone passes, they pay estate tax if they have a, the estate is over $5 million or something like that. And I feel like it just really changes depending on the, the, the, um, the, the president. I'm not being political. I'm just saying, I feel like it does is something that does. Shift depending on who's, um, what political party, uh, is, is at play. Is that true? And can you just maybe touch on that for a minute?

Yeah, so the estate tax, the estate and gift tax right now is, is almost $13 million. You have to have over $13 million per person before you face any estate or gift tax. Now that resets in 2026, goes back down to $6 million. Per person. But I, I guess this would be a good time to talk about news, new things that are coming out. So the Biden administration has released their proposal for changing the tax laws for 2025. Now, of course, usually when this is put out, it's— notice it, it's being put out after the election, so it's probably not going to happen because it's more of a political stunt probably than anything. But it significantly changes everything, all taxes. And there are things in there that if you make over $1 million income a year, you no longer pay capital gains at that point. You now— it's all income to you. They're planning on raising or they propose raising taxes on the wealthiest people from 37% to 39% in the, the top bracket. They're going to get rid of 1031 exchanges. That's the proposal. I think they wanted to bring the estate tax down to an exclusion of only $5 million. You got to understand, when we say exclusion of $5 million, that includes your life insurance policies. So people easily can get over that amount and it's taxed at 40% over that. Let's see what other things they're going to— the corporate rate was supposed to go up to 28%. I think that's one of the things they wanted to do. But it's a massive overhaul and it's increasing the taxation. And once again, not to get political, but the reality of what's going on is we spend— this country, we're spending way too much money. Like, there's going to have to be a reality moment that either you got to cut spending or you got to raise your taxes on people. Yeah. And so when that happens, whenever it happens, that's going to be a big shock on the system because I don't know if you're like me and like most people, I feel like I'm giving almost all my extra income every year to the government, like to finance things. Yeah. Yeah, it's—

yeah, I, I try. I really don't watch the news and I stay pretty much out of out of politics and I will on this, on this, but, um, yeah, it's going to come to a head at some point. Um, it's going to come to a head at some point. There's no question about that. Um, tell me where I got— I'm kind of switching gears a little bit. I'm going to talk about business entity setup, if you can at least just touch on that, and then I'll kind of come back to elder law in just a second. Can you maybe simplify some of the things? Because, you know, sole proprietor, LLC, S corp, C corp, LLC filing as an S corp, there can be a lot of confusion around that. And maybe just helping simplify the understanding of it. And then somebody can go and find the resources of, you know, whether or not they need to make some changes to it.

Yeah, that's actually a great question because it is very confusing. And the confusion comes because we have two areas of law, or two, I should say, uh, government agencies making these laws. So they're two different things, but people think they're the same thing because we talk about them together. And that is, you have the states, which have entities that you can form, and these entities allow you to protect yourself from liability. So really, when you're creating a company, you're creating a new person. That new person, you're doing that with the idea that if that business goes under, the business goes under, I don't go under. Usually when people are structuring their businesses, that's what they think about. That's what you're doing with the state, you know, whatever state that you're in, or it might be in certain preferred locations like Delaware is a very common one. But those are things like I'm forming a corporation, I'm forming an LLC, limited partnership, general partnership. Those terms are generally used, but there's that context of structuring your business that is done at a state level for asset protection purposes, protecting yourself, separating out, protecting a group of people that are investing together. Then on the other side, you have the structure of your business with the IRS, with the federal government, how is it supposed to be taxed? Okay, so corporations, you can pick different ways that you want to be taxed. Corporations are taxed differently than, you know, individual sole proprietorships or partnerships. Okay. What we call pass-through entities. So you have C corps, S corps, sole proprietorships, those type of concepts or partnership, those are with the federal government, the IRS. And so you elect how to be taxed. And that's really where you're, you're going to get your biggest savings as being a business owner is properly structuring your business to the correct business form. Like I had a financial planner that was a good friend of mine And finally he just started talking to me and now— and he said how he was structured. And I'm like, why are you structured that way? And we figured out that each year he was spending about— it was close to about $15,000 a year more than he needed to just because he didn't structure his business right. It was simply not understanding. He thought, oh, you just file with the state. You just file your business and that's it. I didn't— there's not anything else I need to do. But no, you want to deal also with the second part, which is structuring it with the IRS. And that is really bang for your buck where you're going to save the most money. You're never going to beat the market. So you're not going to go find like the genius financial advisor that's going to, you know, make you a ton of money. You're going to make most of your money by figuring out your taxes every year.

That was helpful. You know, I, I think that the structure— I love structures in business anyway. And so what are, what are some things once you get the structure set up that are maybe— I like to try to build some sort of, architecture, some sort of reminder system. And the reason I say that is because then it can exist outside of me to remember. Okay. So what are things that you could say, hey, every quarter, this, every year, this? Now, quarterly, it's easy. Look at your— hey, you make your quarterly estimates. Okay. But I'm even thinking about some other things that maybe you deal with. Hey, every 5 years you could put a reminder on your Google Calendar to do this. Okay? Every, every 10 years do this. Like, I'll give you a really super simple one. And I was like, oh, that's a great idea. I never thought about doing that. I, I have this thing like I like buying domains, like URLs. Okay. Yeah. And so because I'm like, oh, that's going to be, that's going to be one of my wealthiest clients.

That's what That's what he did. That's what his business is. Buys URLs. Oh, really? Yeah. He, his whole business model is he finds out what's going to be the next big drug and what they're going to call it. He goes and buys all the URLs, gets all the traffic, and then sells it to them.

Okay. That's not what I was thinking, but that's pretty cool. Okay. I was thinking about like actually buying the URL and then I start a business. Taylor and I start a business. It's like Taylor and Bradley.com or something like that. I don't know.

No, whatever.

So, uh, well, that's cool. Uh, but no, so I'll do this. But one of the changes was I heard this person— I, I didn't realize because it was just like the thing at the time. I kept putting them on like annual renewals, right? Like annual renewals.

Okay, cool.

Here's the problem though: you lose the debit card and you're like, I, you know, it's all— it's, it's on the different debit card. And then guess what I have to do? I have to go into GoDaddy and I have to update the debit card. Like, things happen. you know, like that, right? And the person said, no, no, no, put your, put your renewals on like every 10 years. I was like, oh, that's a great idea. Why don't, why would I not do that? So went in and I started to change all my renewals. So when I, if I buy a domain, I'm like, no, I'm just going to hold this for 10 years. Is it more expensive to do it? Sure. But I mean, we're not talking about most of the time. It's not very much. And that is, it's, it starts to reduce the stress. Now I know that this is not— I'm on a URL as an example, and that's not around tax and what we're talking about, but what are some things like that that we could put in place as like reminders and timelines and things like that to make sure that we don't forget as, as kind of tools in our tool belt?

Yeah, I might piss off big industry, a lot of industries here by telling you how to do this, but Here's a huge tip now that you can do. So of course, keep track of your numbers. Go, you know, whatever software you're using, you know, QuickBooks, whatever. Keep track of all your numbers of what's going on in your business. Take all that information that you have and put it every quarter, every quarter. Force yourself to do this. Claude, now, people don't know what Claude is. It's an AI. Software. It's like ChatGPT. It's— you can go there, you can download tons of information right now. I'm sure ChatGPT will be able to do this pretty soon. I know— I think Gemini can do it now. You can put it all in and say, where can I cut costs? You don't need a professional any— you don't need consultants anymore. You don't need any of those type of things to guide specifically for your situation. Now, The AI right now is not going to help you on big ideas, like how, how to really put this together. But it's going to help you with that little tedious things that no one wants to do. It's going to show you, oh, well, it looks like you have 5 subscriptions to this. And it can go through all your information instantaneously for you and help you significantly. I mean, that's, it's hard to believe this. But AI just came out about a year and a half ago. Yeah. And it can already do things like that for you. And business owners, it's very easy for you to do little things like that quarterly to help you. I started doing it because I heard somebody say, do this. And the first time I put in the numbers, it found things that I had, had things that I was paying for that I wasn't using. I was like, oh, look at all these little things. It had recommendations of, hey, you're not contributing enough, uh, to your, uh, your 401k. And like things like that that I just never even were picking up, even though I do this as a living. So there are tools out there for you to make running your business so much more effective in that context. But it's those things that have always been difficult, like sit down and look at your expenses and everything. You know, it was too hard for me to do that. Like, I don't know what I'm looking at the numbers, but what's normal? You know, what ratios are good? And so it can help out a ton in those areas.

Awesome. That's great. That's, that's a good, that's a good suggestion. Um, I have a, and I won't share too, too much. Um, but my, my mother is, is, is not in great health at this point. And so, you know, we are actually, and this is not why you came on, but we're, we're, my brother and I were having conversations, you know, around some of these some of these things, you know, and future decisions that we're going to have to, we're going to have to make. Um, of course the best time to have done it would have been years ago, right? Of course. Okay. Well, sometimes you, there's a catalyst, right? There's a catalytic event that happens that says, oh man, okay, we got to, we got to start getting this. Getting this together. But man, you don't know where to start, right? And so I know that— I know the answer is going to be Paul Taylor, you know, go, right? But, but really, if I'm just even wanting to get additional information, where, where do you recommend that we go? Where do you recommend you start getting answers and start to understand and get our hands around some of this stuff?

Well, give me one second. I, I wrote a book long ago I'm actually—

I don't have it here anywhere right now.

I wrote a book called Free Long-Term Care, which is— it's kind of— I qualify it very at the very beginning. Nothing's free. Okay. But it's, it's how you get government assistance for long-term care situations and how you protect assets. But that is one book that I've created. Other attorneys have written it. I'm re— I started rewriting it recently because one, all the numbers have changed. So I wrote it in 2018, so numbers have changed and so I need to update. But one of the big things that has changed in my planning since then is making sure that one of the steps is that you're looking at the option of where you're looking for long-term care or help. Just because in the United States, just to put the average cost of nursing home, if you take across the board in the United States, is $10,000 a month. And that's the average cost. However, the average cost in Missouri is about $5,900 a month. Significant difference just by going, hey, you know, we're going to put mom in a nursing home here in this state, you just move across the border, it can significantly drop the cost of care. So understanding that concept, I'm, I also have gone into trying to explain to people, maybe the US is not the best place to get care. And people go, oh, that's crazy. And I go, well, no, no one in the United States wants to work in nursing homes right now. It's very, very hard for. Nursing homes to find good staff. And staff is the key for good care. You know, you can have all the technology in the world, but if no one is actually helping you out, it don't matter how good things— so, uh, there are a lot of places, uh, you know, the— in Mexico, nursing homes are about $2,400 a month. People can do that on their Social Security. Or assisted living facilities. If you're willing to go even further, I, the place I like the best is the Philippines. They have the best staff in the world. If you go to the hospital, almost every half your nurses are Filipinas. So, they have the best mindset of taking care of elderly people. And it's like $1,600 a month on average there. So, but of course there's the travel distance and everything. So people are like, hey, I don't want my parent way far away. So there's also all those considerations that you have to make. However, you know, if your choice is to live on the beach in the Philippines or a rundown Medicaid home in New Jersey, I think a lot of people would go, I'll go live on the beach. I know it's far away, but I'd rather have that option available. And then, but the thing is you can't get government assistance in Medicaid. They have Medicare eligibility outside, but they don't have Medicaid outside the United States. You have to private pay them out. So I, I go through to explain that the first step is, okay, how much are we actually talking about of income that's coming in? And do we want to go the government assistance route? Because there's a lot of baggage that comes with that. And is there an opportunity maybe we're not thinking broad enough where mom or dad could get an exceptional, better life somewhere other than the United States. There's a lot of options that are out there, a lot of countries that have great opportunities. So that's one of the things I'm, I'm trying to get across to people because of the inflation that has happened during COVID So many elderly people have been struggling so hard that I had to come up with different options that are available for people.

That's interesting. That's good. That's, that's not an angle that I would have even, uh, considered. Taylor, I think this has been enlightening and helpful for me because it helps me to start getting my hands around some of these things personally. And if nothing else, becomes a catalyst itself to say, you know what, I'm going to put it on my to-do list. I'm going to begin to make some of these things. And, uh, hopefully I'm I won't push it down. I won't push it down too far, and it will stay on there until I actually can check the box and say that I got it done. People want to connect with you, where would you point them to, Taylor?

Uh, we go— so my website is my name, taylorwillingham.com. That's always a place you can go and get my books on, on there. I'm a Texas attorney, so I, I can give general advice outside, but I can't give specific things outside of the state of Texas. That's why I advise people, if you're in another state, you want to find an elder law attorney or an estate planning attorney in your state. You want to find somebody that knows the, knows the laws of that state, and especially in elder law. Elder law is very complex and it's state-based. So find somebody there. But I try to keep With my books that I write, I try to keep up to date and keep the information out there, and you can get a lot of information from me. I have 5 books up right now, so each one of them delve into different aspects of estate planning and elder law issues and business issues.

Awesome. Taylor, appreciate you coming on, man.

Hey, thank you for having me, Bradley.

You know, I was thinking back on what my key takeaways were from that. And one of the biggest is it's just a really good reminder to put this down on a to-do list. And it may indeed sit there for a little bit of time, but at the same time, at least it's on there and I eventually will get it done. And I was going to say get around to it, but I think if I— for me, if I don't actually put it down on a list to do then I'll never do it. It then will become a forcing function for me to have to delete it off of my to-do list. Now, does that mean I'm going to be, you know, fired up to do these things and kind of explore and tinker around with some of these things over the next week? No. Um, are these some things I think my EA can help me to be able to set up so I can, you know, get some of these things in motion outside of me? That's honestly where I'm going to go with it. So hopefully even just that tidbit Um, so I wrote down some personal things I'm going to be working through and kind of tee up for my EA to help me with. And so hopefully that was a good catalyst for you to begin to think through some areas, things maybe you've put off, and say, you know what, I actually need to— I need to lean into this as well. So appreciate Taylor coming on. Come connect with him on LinkedIn, connect with him on his website. If you wanted to make sure that you had the right entity structure, Club Capital can help you do that. Go to club.capital, book a call with somebody on the team and they can walk you through your current entity structure. And maybe you too could save, um, some taxes just by the different structure that you're filing under Club Dot Capital. Appreciate all of our podcast partners that help us to be able to bring guests like Taylor on Club Capital, Autopilot Recruiting, Coach P Consulting, and of course, Today App Pro. I just was talking to somebody about our tech stack the other day and the tools that we use, and it made me think about Autopilot Recruiting. And are they in your tech stack, the softwares that you use to be able to run your business day to day? And that can look like a lot of different things. It can look like your QuickBooks or your Xero that you use. It could look like maybe Gusto or SurePayroll, whatever payroll provider that you use, ADP. All of those things get into your tech stack that you use. I would encourage you to lean in and take a look at, uh, excuse me, I would encourage you to take a look at Today App Pro. They have a beautiful interface, which I think matters a lot. They're incredibly cost-effective for all the things that you get with it, fully customizable, easy to get set up, easy to use. Your team will love it, and I know you will as well. todayapppro.com. We just finished a few weeks ago our 2-day intensive all about teams. How do we attract, develop, and retain? And we fundamentally believe one of our maxims is you build the team and the team builds the business. You build the team and the team builds the business. That's a great maxim, super high level. Tactically, how we— how do we do that? Autopilot Recruiting and Coach P can help you with two incredibly important aspects. How do we find and source fantastic candidates, as well as when they come on board, how do we train and coach and develop them, and how do we even put them in an environment with other peers and other people that are trying to do the exact same things that they are? They can both help you. They do a great job of that. Go to autopilotrecruiting.com and go to coachpconsulting.com. [MUSIC] [MUSIC]