If the thought of writing a will or setting up an estate plan keeps getting pushed to the bottom of your to-do list — this episode is the one that finally gets you to do something about it.
In this episode of the Faithful Finance podcast, Emily Stroud and Alison Gengelbach wrap up the "10 Secrets" series with Secret #10: How to Create an Estate Plan. Emily makes the case that estate planning isn't morbid — it's one of the most loving, practical things you can do for the people you care about most.
From wills and guardianship to powers of attorney, beneficiary designations, and trusts, Emily breaks down what you actually need, when to get professional help, and how to organize everything so your family isn't scrambling in the middle of grief.
She also shares deeply personal stories about caring for her own parents — using financial and medical powers of attorney in real-time — that make this conversation feel urgent, not theoretical.
She also walks through her legendary "house is on fire binder" and shares what Warren Buffett and Shaquille O'Neal have taught their kids about money, work ethic, and inheritance.
What You'll Learn:
➡️ Why estate planning isn't just for the wealthy — and why it's one of the greatest gifts you can leave your family
➡️ What a will does (and doesn't) control — and why you absolutely need one if you have children
➡️ How to name a guardian for your kids and why separating the guardian from the trustee is often the wisest move
➡️ Why beneficiary designations on life insurance and retirement accounts override your will — and the costly mistake people make by never updating them
➡️ What a financial power of attorney and medical power of attorney are — and how Emily used both when caring for her parents
➡️ How to organize everything into one "house is on fire binder" your family can grab and go in any crisis
➡️ Why most people won't owe estate tax — but still need a thoughtful plan
➡️ What the unlimited marital deduction means and when estate tax actually becomes a concern
➡️ When a simple will and online forms are enough — and when you need an estate planning attorney, CPA, and financial advisor working together
➡️ How trusts let you "manage from the grave" — setting conditions that encourage work ethic, maturity, and wise stewardship
➡️ What Warren Buffett and Shaquille O'Neal's approaches to inheritance can teach the rest of us
➡️ How to think about funeral expenses and pre-planning so your family isn't scrambling financially on the hardest day
Resources:
Download Emily's free budget worksheet and other practical tools at: https://faithfulfinance.com/resources
Buy Emily's Book: Purchase Faithful Finance by Emily Stroud on her website: https://faithfulfinance.com/resources/
Support the Show:
✅ Follow or subscribe so you never miss an episode
✍️ Leave a review and share your biggest takeaway
📲 Share this episode with someone who keeps putting off their estate plan
Connect With Emily:
Facebook: https://www.facebook.com/EmilyGStroud/
Instagram: https://www.instagram.com/emilygstroud/
Threads: https://www.threads.com/@emilygstroud
YouTube: https://www.youtube.com/@faithfulfinancepodcast
Connect With Alison:
Instagram: https://www.instagram.com/amgengelbach/
Credits:
A Faithful Finance production. Executive Producer: Emily Stroud
Produced by Greatlight Creative: https://www.greatlightcreative.com
Emily G. Stroud, MBA, CFA is a Registered Representative. Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC to residents of: TX, UT, WV, NY, OK, PA, SC, TN, AR, AZ, GA, ID, IL, KY, MT, and NC. Investment Advisor Representative Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and Stroud Financial Management, Inc. are not affiliated. Cambridge and Emily G. Stroud, LLC are also not affiliated. Check the background of this financial professional on FINRA's BrokerCheck: BrokerCheck.FINRA.org | www.FINRA.org | www.SIPC.org | Form CRS
In this episode of the Faithful Finance podcast, Emily Stroud and Alison Gengelbach wrap up the "10 Secrets" series with Secret #10: How to Create an Estate Plan. Emily makes the case that estate planning isn't morbid — it's one of the most loving, practical things you can do for the people you care about most.
From wills and guardianship to powers of attorney, beneficiary designations, and trusts, Emily breaks down what you actually need, when to get professional help, and how to organize everything so your family isn't scrambling in the middle of grief.
She also shares deeply personal stories about caring for her own parents — using financial and medical powers of attorney in real-time — that make this conversation feel urgent, not theoretical.
She also walks through her legendary "house is on fire binder" and shares what Warren Buffett and Shaquille O'Neal have taught their kids about money, work ethic, and inheritance.
What You'll Learn:
➡️ Why estate planning isn't just for the wealthy — and why it's one of the greatest gifts you can leave your family
➡️ What a will does (and doesn't) control — and why you absolutely need one if you have children
➡️ How to name a guardian for your kids and why separating the guardian from the trustee is often the wisest move
➡️ Why beneficiary designations on life insurance and retirement accounts override your will — and the costly mistake people make by never updating them
➡️ What a financial power of attorney and medical power of attorney are — and how Emily used both when caring for her parents
➡️ How to organize everything into one "house is on fire binder" your family can grab and go in any crisis
➡️ Why most people won't owe estate tax — but still need a thoughtful plan
➡️ What the unlimited marital deduction means and when estate tax actually becomes a concern
➡️ When a simple will and online forms are enough — and when you need an estate planning attorney, CPA, and financial advisor working together
➡️ How trusts let you "manage from the grave" — setting conditions that encourage work ethic, maturity, and wise stewardship
➡️ What Warren Buffett and Shaquille O'Neal's approaches to inheritance can teach the rest of us
➡️ How to think about funeral expenses and pre-planning so your family isn't scrambling financially on the hardest day
Resources:
Download Emily's free budget worksheet and other practical tools at: https://faithfulfinance.com/resources
Buy Emily's Book: Purchase Faithful Finance by Emily Stroud on her website: https://faithfulfinance.com/resources/
Support the Show:
✅ Follow or subscribe so you never miss an episode
✍️ Leave a review and share your biggest takeaway
📲 Share this episode with someone who keeps putting off their estate plan
Connect With Emily:
Facebook: https://www.facebook.com/EmilyGStroud/
Instagram: https://www.instagram.com/emilygstroud/
Threads: https://www.threads.com/@emilygstroud
YouTube: https://www.youtube.com/@faithfulfinancepodcast
Connect With Alison:
Instagram: https://www.instagram.com/amgengelbach/
Credits:
A Faithful Finance production. Executive Producer: Emily Stroud
Produced by Greatlight Creative: https://www.greatlightcreative.com
Emily G. Stroud, MBA, CFA is a Registered Representative. Securities offered through Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC to residents of: TX, UT, WV, NY, OK, PA, SC, TN, AR, AZ, GA, ID, IL, KY, MT, and NC. Investment Advisor Representative Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and Stroud Financial Management, Inc. are not affiliated. Cambridge and Emily G. Stroud, LLC are also not affiliated. Check the background of this financial professional on FINRA's BrokerCheck: BrokerCheck.FINRA.org | www.FINRA.org | www.SIPC.org | Form CRS