Let’s just jump right into this one; love, death and money. We all know having a conversation about estate planning with your spouse is no easy task – but no matter how much you try to avoid it, it needs to be done. In this episode of Women in Power, I sat down with Naz Barouti; lawyer, author, entrepreneur, media commentator and public speaker. Oh and did I mention, everything she does is all about women? Yep! She considers herself a legal advocate for women!
Now, Naz and I have been friends for many years. I actually interviewed her 3-4 years ago, and that was when she opened my eyes to planning a will, who would take care of the kids if something happened..etc. These were things Grant and I did not have in place because it’s such an uncomfortable conversation. But Naz says, I think a lot of people want to avoid it, they don’t want to talk about not being around. But what’s better, planning or leaving everything up to the government? Because the government has a plan for you whether you believe it or not. That’s right! She speaks the truth. I had no idea that money gets divided up between siblings, parents – I just had no clue until I read Naz’s book Love, Death and Money (rightfully titled I might add).
Being honest, the part of the conversation that’s tough is making sure not to sound like someone waiting for their spouse to roll over and die? You know? Especially when you make less than your spouse. Instead of: When you die what do I get? Naz says, being aware and taking care of our financial affairs is so important, here’s what you could say instead:
Hey baby, when you die, what do our children get?
How do I secure that no stranger comes in and tries to take advantage of me?
Who are the financial planners?
Can I get the number of our accountant?
Sometimes, we as women get intimidated by money. We’re intimidated by all the different aspects of handling money. Before Naz’s book, I didn’t realize how much there was for even me to do. Yes, I’m part of what Grant and I have, but I have my own little side things going on and I need to take care of that as well. The main reason I wrote this book wasn’t about the money. I wanted this book to be a legal bible for women in any stage that they’re at – You open the book and it applies to you.