In this episode of the Prosperous Doc®, our host Shane Tenny, CFP® welcomes esteemed attorneys Christian Perrin of Perrin Legal and Pete Benenati of Benenati Law Firm, P.C. The three discuss estate planning — what it means, why it is so important, and everything in between. The two attorneys also dive into the benefits of prenups beyond divorce preparation, the differences between executors and powers of attorney, and how to find the best help for you.
Estate planning is a topic most people don’t want to think about, but it shouldn’t be avoided. While it may seem daunting, it’s a crucial step for you and your loved ones.
“Appropriate estate planning is truly planning for your estate, meaning planning for the management and disposition of your property, both during your lifetime and upon your passing,” explains Christian Perrin.
In this episode of the Prosperous Doc®, our host Shane Tenny, CFP® welcomes esteemed attorneys Christian Perrin of Perrin Legal and Pete Benenati of Benenati Law Firm, P.C. The three discuss estate planning — what it means, why it is so important, and everything in between. The two attorneys also dive into the benefits of prenups beyond divorce preparation, the differences between executors and powers of attorney, and how to find the best help for you.
“Everybody thinks that just because they have kids or a surviving spouse, it's easy,” Pete explains about the need for estate planning. “It's not really, because there's something known as the termination of heirship. You have to actually prove who the heirs are. A court-appointed attorney has to do the history on the family to confirm what you're telling them. It adds cost, it adds time, it adds expense. And it adds a lot of frustration for people, even in the smaller, simple estates.”
Name: Christian Perrin, JD
What he does: As an attorney and owner at Perrin Legal in Charlotte, NC, Christian specializes in estate planning, asset protection, and litigating trust and estate disputes. He attributes much of his successful career and long-standing relationships to his passion for advocacy, honesty, and responsiveness to clients.
Company: Perrin Legal
Words of wisdom: “Estate planning is important. And once you start the process, it's important to stay focused on it because the alternative is really messy.”
Connect: LinkedIn
Name: Pete Benenati, JD
What he does: As an attorney and owner at Benenati Law in Dallas, Texas, Pete mainly focuses on business, tax, and estate planning. Pete is passionate about community involvement and educating local groups on current and pending legal changes that might affect them.
Company: Benenati Law
Words of Wisdom: “Anytime you get a chance to avoid probate, to make the people you leave behind, their lives easier, you should do it. At least do a will.”
Top takeaways from this episode
[05:30] Make people’s lives simpler: Having at least a will can make things so much easier for those left behind after someone passes.
[07:26] Don’t leave the government to plan for you: Christian discusses how state legislators, depending on the jurisdiction, will step in if there is no will left behind, which will most likely not reflect the true wishes of the deceased.
[11:51] The big three: According to Pete, everyone should have a will, a financial power of attorney, and a healthcare power of attorney. This will make things easier, cheaper, and faster for the people in your life,
[20:13] Write a letter: Pete advises people to leave a handwritten letter of desire about healthcare, in which people can make more specific requests that are not always covered in the legal documents.
[22:45] Why a trust: Christian explains that trusts might be more preferable for certain clients — those who have a high net worth while they’re alive or when they pass, and those who value privacy. Trusts keep certain information private during the probate process.
[30:20] Prenups aren’t just for divorce: Pete goes over the ins and outs of prenups, from what they mean to how they operate. Prenups, he says, are not just plans in case of a divorce but plans for a death and the distribution of assets as well.
[36:13] Find someone within your state: Because each state has its own laws, procedures, and practices, it’s important to choose an attorney within your state to formulate your estate plan.
Disclaimer: Prosperous Doc podcast by Spaugh Dameron Tenny highlights real-life stories from doctors and dentists to encourage and inspire listeners through discussions of professional successes and failures in addition to personal stories and financial wellness advice. Spaugh Dameron Tenny is a comprehensive financial planning firm serving doctors and dentists in Charlotte, NC. To find out more about Spaugh Dameron Tenny, visit our website at www.sdtplanning.com. You can also connect with our host, Shane Tenny, CFP at shane@whitecoatwell.com or on Twitter.
Compliance code: CRN202505-2305255
Top quotes from the episode:
[08:25] Christian: “I think a lot of individuals assume that well, if I pass away with the spouse, all my assets are going to go to my spouse and if not, if I have children, they’ll be equally divided amongst my children, but that's simply not the case.”
[29:30] Pete: “If you have an estate that's larger — 10,15, 20, 25 million — you might have great brothers and sisters, they may be phenomenal individuals, but they have no idea how to manage that kind of money. So it'd be far better to have a third-party financial institution as the trustee to oversee that wealth to make sure it's there for generations.”
[37:33] Christian: “In medicine, there's a number of specialties that physicians can obtain. [...] And in the same way, lawyers, especially lawyers in larger urban markets, have niches because that is the way that they hold themselves out. They develop expertise in a certain practice area. So for that reason, having an attorney that is a board certified specialist in the area that you are looking for is a very important first step.”