 Welcome to Coverage Over Coffee, hosted by A.I. Mutual. I am Agent Ivory, and here we talk about various insurance topics in a fun and informative way that is easy to understand. Enjoy hot coffee and delicious pastries with like-minded people that are excited about creating generational wealth for their families. Don't forget to like, subscribe, and share the channel. This is Agent Ivory. Welcome back to Coverage Over Coffee session. Today we will be discussing the will to get a will. Before we get started, make sure you have your favorite cup of coffee. Like, share, and subscribe to the channel. Also, please leave a comment. I actually enjoy reading and responding to them. All right, let's go. So the definition of a will. There's actually two definitions. We're going to start with the verb first and then the noun. And the Merriam Webster Dictionary, the will is defined in two ways. The verb used to express determination, insistence, persistence, or wolfiness. Example is I have made it in my mind to go and go I will. So in that particular description, I really love the words determination, persistence, and wolfiness. Okay? Now for the noun, it says a will is a legal document that tells what a person wants to have done with their property after their death. An example of a will is a document that says that a widow wants to have all her money and property equally divided between her children after her death. Now remembering what those definitions were, let's talk about Mr. Earl Nightingale. And he is going to describe to us the verb usage of the will. Earl Nightingale was an American radio speaker who dealt with subjects related to the human character and gave a great lesson, the power of will. I just recently came to know him and love listening to his lessons. I have put the YouTube link in the description of this video, so check them out. I'm thinking of the title of this coverage of a coffee session, The Will to Get a Will, and then this particular YouTube video came to mind. Lesson he teaches about the discovery of the will is important in energizing oneself to protect their family. The discovery of the will, he states, includes, the will is our central core of our being. It prioritizes what needs to be done and is persistent when faced with obstacles. Number three, he says we get to experience the satisfaction of using our will. We normally realize our will during a crisis. We do not yield, we move forward and stand strong in our convictions. Temptations do not get us off track. We realize that we are living subjects with the power to choose and bring about changes in oneself, others, and circumstances. I love this, right? Because, of course, having a physical will, you're doing just that. Having an active will gives us confidence, security, joy, and wholeness. He is so right about that. So let's continue. We have all heard of someone that we should, of course, have a will created for ourselves. But do we know why we should have a will created for ourselves? Or understand the repercussions of not having one? Today we will look at celebrity case studies that explain the need for a will. So first we're going to start with Chadwick Boseman, famous actor Chadwick Boseman, better known as Sechala in the movie Black Panther. He died and he did not have a will. Due to the fact that Boseman died without having a will in order, his estate had to pay significantly higher legal fees than if he had one. The docs reveal this state was valued at $3.8 million prior to the court fees. Boseman's estate will be split evenly between his widow, Taylor Simone, Ledward, and his parents, Leroy and Carolyn Boseman. So in this instance, he did not have a will, so of course, they had to go to court. And then they, of course, determined the outcome of such a verdict. Heath Ledger. So in this instance, we're going to talk about someone who did not update their will, because these are all the issues surrounding a will, either not having one or not having an up-to-date one. He did have a will when he passed in 2008, but it hadn't been updated since 2003, meaning his daughter Matilda and her mother, Michelle Williams, weren't included. Ledger's father assured the media that Matilda and Michelle would be well taken care of despite the outdated paperwork. So the good thing here is he has a wonderful father, right? His daughter has a great grandfather who's ensuring that she's going to be taken care of and along with her mother. But important items like this should be addressed in the will. So in this situation, even if you do have a will, you want to make sure that it's current, because as you see here, he has a daughter now. And things like that happen in our life, don't they? Maybe we get married, we may get divorced, you know, we may acquire new property, we may sell a business. Just a whole lot of things may happen. So you want to make sure that your will is up to date. Michael Jackson, definitely one of my favorite artists. So in this case, the family members challenged the will. Arguably, the most famous case on the list is Michael Jackson. While Jackson did, in fact, have a will, it resulted in years of legal battles between his siblings and attorney John Bronca and music executive John McClane, who were named the executives of Jackson's estate. It was interesting because originally they thought he didn't have a will, right? And so his mom actually wanted to be the executive of the state. But then, of course, they did find this will, which named the attorney and music executive. So then they had to follow those guidelines. But of course, all the siblings still wanted to plead their case as well to his estate. So in this instance, you definitely want to make sure you have a will. Again, that's up to date. That addresses who you want to receive, what? Because if not, family members will definitely try to challenge the will. Other celebrities who did not have a will. Other celebrities that died with the hugest state, with no will in place, includes Aretha Franklin, Prince Abraham Lincoln, Martin Luther King, Jr. Kurt Cobain, Amy Winehouse, Jimmy Hendricks, Tupac Shakur, Bob Marley, Marvin Gaye and more. Like, I mean, it's a crazy list. You would think these individuals who have so much wealth and already would definitely have a will. I know these are celebrities that we're talking about here, but I'm sure we can also think of family, friends, neighbors, coworkers and church members that did not have a will in place at their time of death. Do we really want our name added to this list? Your family would already be suffering emotionally if you were to leave this earth. Why make them suffer legally and financially? According to caring.com, only 27.5% of black Americans have a will. That means there are 72.5% of families left protected. The result is that black Americans are missing out on the largest wealth transfer in history. Over the next 25 years, an estimated 68 trillion, that's trillion with the T. Yaw, will be transferred from U.S. households to heirs and charity according to consulting group Cerule Associates. Without a plan in place, probate costs could be three to 8% of the value of an estate. Families are also at risk of losing their ownership of land especially if you haven't prepared to pay the taxes and get the mortgage covered. Having a will in place can't protect your family from these and other challenges. So you want to make sure you have a will in place. So you're probably asking, Agent Ivory, how do I go about getting a will in place? Well, it's very simple and easy to do. And see, and that's one of the reasons why 70 plus percent of the people haven't gotten one they think is so complicated or they think is just celebrities. You have to have all this wealth. And I'm here to tell you that you do not. All you need to do is go to the website and Ivory dot we are legal shield dot com and sign up to become a member. Check out the will workshop video, which will walk you through step by step on how to fill out and submit the will questionnaire. Once in place, you are able to update it once annually free of charge. So thanks again for joining us today. We look forward to seeing you at the next coverage over coffee and always remember to aim high. At AI Mutual, we absolutely love coffee. You know what time it is time for this week's coffee shop spotlight. Today we are on site at Biddy and Bo's coffee shop in Waco, Texas. So very quick history about the coffee shop. The owners Amy and Ben Wright are the proud parents of four children. Two of them were born with autism and then two were born with Down syndrome. They created Biddy and Bo's to advocate for the value, acceptance and inclusion of people with intellectual and developmental disabilities. The rights have dedicated their lives to making the world a better place for their children and others living with disabilities. Biddy and Bo's coffee has been featured on the Today Show. Rachel Ray, CNN, Harry. Good morning, America. Dr. Oz, HLN, People Magazine and Southern Living Magazine. The founder, Amy Wright, was even named 2017 CNN Hero of the Year. So I really enjoyed my experience there. The coffee shop is an amazing location next to the Brazos River. Although it looks small on the outside. Of course, when you walk up, it is super spacious in the inside. They even have a meeting room for their patrons to use, which I think is a plus. I purchased a decal sticker, but they also sell t-shirts, mugs and more. Great spot to visit as a tourist, take photos and purchase souvenirs. Of course, the coffee is delicious. Catch them at this time of the year for all of their seasonal holiday flavors. My favorite highlights of this cafe includes where is your home board? And it's pretty cool while you're waiting for your coffee. You can actually get one of those red pins and stick it on the wall where you're coming from. Souvenirs and gift baskets, meeting room and excellent location. I give Biddy and Bose five out of five stars. I highly recommend you check them out. This is an excellent cafe. Tell them AI Mutual referred you. Enjoy.