Winning Isn't Easy: Long-Term Disability ERISA Claims

How Financial Planning Interacts with Disability Claims - Discussions with Financial Planner Greg Black

• Nancy L. Cavey • Season 3 • Episode 25

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Welcome to Season 3, Episode 25 of Winning Isn't Easy. In this episode, we'll dive into the complicated topic of "How Financial Planning Interacts with Disability Claims" with special guest star, financial planner Greg Black.

Join us as we unravel the intricate relationship between financial planning and disability claims. Our expert host, Nancy L. Cavey, a seasoned disability attorney, is joined by Greg Black, a distinguished financial planner with extensive experience in the field.

Through engaging discussions, we'll delve into the ways financial planning impacts disability claims. Greg Black will share his insights on strategies for managing finances during disability, maximizing benefits, and ensuring your financial well-being. This episode provides a unique perspective on how effective financial planning can complement disability claims, guiding listeners towards a more secure future.

Tune in to gain a deeper understanding of the synergy between financial planning and disability claims and empower yourself with valuable insights for a more stable tomorrow.


Resources Mentioned In This Episode:

LINK TO ROBBED OF YOUR PEACE OF MIND: https://caveylaw.com/get-free-reports/get-disability-book/

LINK TO THE DISABILITY INSURANCE CLAIM SURVIVAL GUIDE FOR PROFESSIONALS: https://caveylaw.com/get-free-reports/disability-insurance-claim-survival-guide-professionals/

FREE CONSULT LINK: https://caveylaw.com/contact-us/


Need Help Today?:

Need help with your Long-Term Disability or ERISA claim? Have questions? Please feel welcome to reach out to use for a FREE consultation. Just mention you listened to our podcast.

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Please remember that the content shared is for informational purposes only, and should not replace personalized legal advice or guidance from qualified professionals.  

Disability Attorney Nancy L. Cavey:

Hey, it's Nancy Cavey . Welcome to this episode of Winning Isn't Easy. We've got a special guest, and I'm really excited to introduce you to Greg Black. He is a , a founder and a wealth advisor located in Utah. He has built 10 cap wealth coaching to help people with the opportunity to, you know , learn about investments in retirement planning and to, you know, really look at you their situation. From a holistic level , obviously having a disability, particularly if you have shorter long-term disability insurance, can impact that financial , uh, planning. So, welcome, Greg. You're gonna answer our questions today and give us a wealth of information. Thanks ,

Speaker 2:

Anthony .

Disability Attorney Nancy L. Cavey:

Hey, so tell us what is a financial planner?

Speaker 2:

Financial planner, from my perspective is it takes the complex and confusing and breaks it down and makes it simple and understandable. Now, that's not custom in the industry. Usually what it happens is that most people walk into a financial planner's office and they leave more confused than when they walked in A lot of industry jargon and lingo that gets thrown around, and from my standpoint, a lot of the industry is looked at as the more confused and overwhelmed an investor is , uh, or a client is the more profitable they are because they're just become dependent upon the advisor to tell them everything Where the, the , the name of our company is called 10 Cap Wealth Coaching. And it's coaching, not necessarily wealth management or advisors, because we feel like people really do need a coach when it comes to financial planning because it does take the complex and confusing and , and breaks it down into something that's systematic and organized. So financial planning is , it can be a broad term, but it , it really should be condensed in , in a very simple process.

Disability Attorney Nancy L. Cavey:

So , um, as you're doing a financial , uh, plan , um, what impact does having shorter long-term disability insurance have on your financial plan? And then obviously if they have to apply for benefits, how does that impact the planning?

Speaker 2:

Uh , when, when we look at a client situation, there's the, there's, we want to have a roof of protection over the balance sheet, and then a foundation of cash flow that , that really the rest of the financial plan is built on. So how money comes onto the balance sheet is the foundation of the f of the financial plan. So if that foundation is weak or there's a disruption in cashflow, it really does shake the whole foundation of the financial plan. So a disability is the ability to produce income and to produce a solid, robust financial plan. And when that gets rattled or shake the whole building can collapse, so to speak. And so having that disability , uh, effect a financial plan, it's , it's a , it's probably one of the , the biggest, if not the biggest threat to a financial plan is the ability to fund and to create income on, on the balance sheet.

Disability Attorney Nancy L. Cavey:

So disability insurance then really has to be part of the foundation of a financial plan, is that what you're saying?

Speaker 2:

Yeah , absolutely. It , it , I mean, you wanna look at that and you , we had an incident in our, in our house where the foundation was a little bit shaky, where there , there was some creeks coming in and there we had flooding in our basement. Oh , crazy rainstorm. And you just think, you know how , no , it doesn't matter how nice things are, if the foundation isn't settled and it's not secure, things can creep in and, and there can be a loss that's planted onto the balance sheet somewhere. So I think disability income insurance is a crucial part of somebody's financial plan because it protects for most people their most important asset, which is their ability to produce income.

Disability Attorney Nancy L. Cavey:

So let's say one of our clients has a shorter long-term disability issue. How does that ultimately impact the financial plan that you are producing for the client or now needs to produce , uh, for a client who's disabled ?

Speaker 2:

Well , so if, if they have a disability , um, there's, there's just the financial impact of it, but let's take the financial impact out of it and just look at the emotional and psychological impact that it has. And it's dramatic. I mean, going from being a high producer produ and running an efficient company or practice, and then going to this part where I just can't do the day-to-day actions, it has a psychological effect on, on the, on the person, maybe even more than the financial impact does. And when they're not able to produce, that's a huge issue. But then when you take the psychological impact and you add onto it the financial impact, oh man, it , it's a recipe that can be very, very disruptive into somebody's not just financial situation, but their overall wellbeing in life. So it's very disruptive.

Disability Attorney Nancy L. Cavey:

I mean, that's really neat to hear because a lot of , uh, financial planners are only concentrating on the financial aspect of the impact of disability. And you're one of the first financial planners I've talked to who actually is thinking about and talking about the emotional impact that disability has on a person's identity and ultimately their role perhaps within their family. So congratulations. I think that's really neat that you're thinking holistically and that's a , a part of your philosophy.

Speaker 2:

Yeah, absolutely, Nancy.

Disability Attorney Nancy L. Cavey:

So , um, what's the three biggest traps that , uh, you see in financial planning that people should be aware of?

Speaker 2:

Well, the first trap, this may sound crazy because , you know, it can't be done, but the biggest trap that people fall into is to try and predict the future <laugh> . Now what I mean by that is that all of us have a fear of the future, right?

Disability Attorney Nancy L. Cavey:

You

Speaker 2:

Fear what's unknown. And so the way that we try and compensate for a fear of the future is to try and find somebody that can tell us what's gonna happen in the future, right ? And, you know, we kind of scoff and laugh about somebody that puts up a billboard and says, all right , you know, free tarot card reader or free fortune teller, but yet you put somebody in a suit and put 'em in a financial planning office and they're highly respected,

Disability Attorney Nancy L. Cavey:

<laugh>,

Speaker 2:

<laugh> . And so, so we've just gotta come to grips that there's an incongruity here that we can't predict the future. And, and it's almost like we have a, a screen that doesn't allow us to not ask questions that, that we want somebody to tell us a prediction about the future. Um, so what's gonna happen with the economy? Where are taxes going? What are the best stocks to own? All of those are, are really a screen from operating on a prediction needed basis.

Disability Attorney Nancy L. Cavey:

Uh , uh, so I'm gonna ask you a bit of a strange question in , in you that response is, does disability make it more predictive? In other words, you, you know, potentially that their income is going to be capped based on their disability , uh, and you maybe kind of know that you've gotta make up things, if you will, to maintain their lifestyle. So does disability, strangely, that may sound make this any more predictable?

Speaker 2:

Well, from a standpoint of what we can pre predict, we don't know when a disability would happen, obviously, right ? However, what I feel like the job of a solid financial plan is, is to pro , is to create just an impenetrable layer of protection. You know, looking at it as like a roof on top of a house so that any unexpected life events can't create a loss that drip down into the home and , and disrupt the asset building or create more of a liability. So to the degree that you can protect against it, it does create some , uh, predictability in that no matter what happens with my ability to produce income, I know that income is still coming onto my balance sheet.

Disability Attorney Nancy L. Cavey:

Great. Alright , well let's take a break for a moment and we're gonna come back. Alright . Welcome back. We've learned a lot of important information and helpful information about financial planning and the impact that disability will have on , uh, a financial plan. So let's sort of get a little more granular. What is the impact of receiving long-term disability benefits potentially on a financial plan ?

Speaker 2:

Well, if you're receiving long-term benefits from a disability policy, what we wanna make sure is that, you know, when you set up the policy is that it's received on an after-tax basis, meaning that you make the payments with after-tax money so that when you do have a disability, it's not creating a tax problem in a disability in a disabled state. So you'd rather pay taxes when you're working and producing income as opposed to paying taxes when you're disabled and , and receiving a benefit. So that's a real important key because , uh, having it on an after-tax basis can really make the long-term disability benefits go in a lot longer. Um, any, any other questions that you have on that, Nancy, or any other thoughts that come to mind to you on that?

Disability Attorney Nancy L. Cavey:

Well, well also, you know, potentially people are applying for social security disability benefits , uh, because their plan or policy requires them to do that. So , um, how is that , uh, a factor, if you will, in financial planning and the impact of perhaps redoing a financial plan?

Speaker 2:

Yeah, I mean, obviously the , when we look at financial planning, when the biggest , um, one of the biggest points that people look at is how, how can I prepare for , uh, in being financially independent or even retirement? And so if there's long-term disability that comes into play, having other contingencies to be able to fund, like when I think about like a lot of people have permanent life insurance policies and is there a waiver of premium rider on those long , on those permanent life insurance policies that can contribute cash value into the policy to keep those policies growing even in the face of a disability? That can be a big impact. One of the clients that we work with , uh, he had a disability and he has over six, six figures going into premium payments on a long-term or on a, on a cash value policy that's building his retirement. So even though when he gets to 65 and that disability benefit is cut off, he'll have millions of dollars stashed away that he didn't contribute to because of that waiver of premium benefit in his permanent insurance policies.

Disability Attorney Nancy L. Cavey:

That's a fantastic point. So you're thinking about the long-term disability benefits, the social security life insurance. Are there any other factors that , uh, you're thinking of , uh, and considering when you have a client who becomes disabled and you're now having to either do a , a financial plan or redo a financial plan?

Speaker 2:

Well , yeah, I mean another example that comes to my mind is who's gonna be, what kind of disability is it? And if the , if the wife is working or if the husband's working and the other spouse , uh, is disabled, are they gonna have to quit their job and that income, you know, they're not disabled, but that income could be gone because they're having to take care of the spouse that's now disabled. So that could disrupt it. And that's something that we need to look at from both spouses standpoint or both partners if one's working and nots working because they're now taking care of that disability, the disability of that individual.

Disability Attorney Nancy L. Cavey:

So what are some of the other financial concerns when applying for disability and its impact on , um, on, you know, their, their stream of income? Would for example, group health insurance be something that you're considering in the financial planning? Do they have it? Who has it? Who's paying for it?

Speaker 2:

Yeah, the , the health insurance would be a big concern. Like is is they gonna be able to stay in place? Are there issues with that? Is is that , and I assume that's what you're getting at Nancy, correct? Right. Yeah. And so are , is the health insurance gonna stay in place? Uh, are there certain requirements that are, that are contingent upon them working such that they would qualify for those group benefits?

Disability Attorney Nancy L. Cavey:

Now one of the things that I see , uh, particularly with , uh, executives is that the disability policy also is tied into the pension. And by that I mean so long as the person continues to be disabled, the company will continue to make , uh, pension contributions at the same level at which they were being made , uh, prior to the disability. Again, is this a factor that you're considering in the financial planning or redoing a financial , uh, plan?

Speaker 2:

Yeah, that's a great point. I mean, pensions are a rare commodity these days and they, the amount of money that you can accumulate just through a pension and the amount of income that's contributed to that is gonna have a major impact on somebody's financial plan. And if those contributions don't keep coming in from a pension standpoint, then that paycheck that's guaranteed for life, that's gonna have an impact. Because once those , uh, once the disability benefit comes off, maybe that could be a 65 or a 67, what's gonna supplement the income at that point? So that's a huge, huge area that would wanna be considered.

Disability Attorney Nancy L. Cavey:

So obviously there's a lot of considerations in moving parts to not only creating a financial plan, but potentially having to redo one as a person becomes disabled.

Speaker 2:

Yeah, yeah. I mean, I don't know how it wouldn't need to be redone. Okay . Such a dramatic life event, like becoming disabled. I mean that is, that is definitely gonna disrupt. I mean , it's the foundation of the financial plan.

Disability Attorney Nancy L. Cavey:

Great. Well let's take another break. Alright . Welcome back. Uh , Greg is giving us some really great information about financial planning and particularly the impact of disability on a financial plan. So my question to you, 'cause I get it a lot, is , um, either I have a plan and I'm thinking about applying for disability or I don't have a financial plan, but I'm gonna potentially become disabled , uh, because of the progression of my medical condition. When should I, you know, when should I consult with this financial planner? Now later, what's the answer?

Speaker 2:

Well, it , it , and a similar question I get asked is I ask clients is when's the right time to be prudent?

Disability Attorney Nancy L. Cavey:

<laugh> okay ,

Speaker 2:

<laugh> , you know, next week or next year usually isn't the answer I get. The answer I get is right now is the right time to be prudent? And so, yeah, absolutely that I think it just seems crazy that somebody wouldn't wanna bring that up, especially if they're really your resource and your advocate for your financial future. I mean, we say this to our clients all the time, we hope you call us on any concern that comes up. And when you do call, please don't say sorry to bother you . And it's amazing how often they preface the call with sorry to bother you. And I always say, no, no, please don't apologize this we work for you. This is , we are your advocate. We're here for you. We're taking a stand for your future, so please reach out to us about really anything that needs to come up.

Disability Attorney Nancy L. Cavey:

So when they reach out to you in this circumstance, what kind of information do you want from them to , uh, create a clear path financial path for them?

Speaker 2:

Yeah, well one, one client comes to mind is that, that we had a client that was in a car accident, they're having major issues with their wrists and they're in , in , they're , uh, in the dental profession. So we wanna know is like, how much is he able to work? I mean, is he just gritting his teeth and like trying to grind out the week that , you know, the work week to get to Friday or to Thursday so that he can have some relief from his hands? I mean, that, that's a significant issue. And if that's going on for years, that could have even a more, more , uh, compound effect on that injury. Um, and a lot of times when people come in and it, it is interesting to hear how long they have been fighting through some pain, instead of just addressing this up front , it's almost like, well, I don't know if this is a big enough deal to qualify for a disability because most people think of a disability as like, I'm in a wheelchair and I'm totally incapacitated. Well, we like to say sick or injured as opposed to disability because sick or injured is much more palpable and much more real life than being totally disabled.

Disability Attorney Nancy L. Cavey:

So obviously you're interested in , um, potentially , um, their medical condition, the progression of the medical condition , um, the nature of their occupation. Um, what perhaps, you know, are they gonna file a residual claim? Perhaps they wanna be a , do a total disability claim , um, the end of their practice. Are those the kind of things that you're taking into consideration how that practice is gonna end in doing this financial planning?

Speaker 2:

Yeah, absolutely Nancy, and that you brought up really good points there. Is it a residual disability, meaning like, I'm able to work part-time and you know, my income's gone down a little bit, or is this a case where I'm, I'm really disabled and, and I just can't work at all? Um, another standpoint that we look at from this, from a financial planning perspective, and I want to go back to this again, is we, we view like our purpose at 10 cap is to lift others to freedom and power. Now that's a , finances are an important part of that. However, it's not exclusive to finances. And if somebody's really in a state, there might be mental health issues, there might be other psychological issues at play. We really, you know, we're not licensed psychologists or therapists by any means, but yet money is a thread that runs through the fabric of life. I mean, it , it's touching every aspect of their life. And so we really do need to get at a clear angle of how is their life being impacted by what's going on with their ability or lack of ability to produce income.

Disability Attorney Nancy L. Cavey:

Well, as we know, dealing with professionals, their identity is their occupation. Yeah,

Speaker 2:

Yeah.

Disability Attorney Nancy L. Cavey:

Right. Um, so to what extent, if any, as a financial planner, do you get involved if , uh, the professional needs to sell their practice , uh, um, or, you know, get into something that they're allowed to do it under the terms of the policy that lets them continue? In other words, the policy says, so long as you can't do your own occupation, you can do anything else and earn money. Yeah . Tell me what, what's, what's a financial planner like you, what , what's the interaction with , uh, making the decision to close the practice, perhaps do something else? Where does that fit in financially and, and psychologically?

Speaker 2:

Yeah, well there's a couple things that come to my mind. The first thing is that you'd wanna do beforehand, before disability, 'cause we think about disability income insurance, but we also wanna look at disability overhead coverage,

Disability Attorney Nancy L. Cavey:

Right?

Speaker 2:

And when we talk about overhead coverage, we mean like, okay, if I'm not able to produce income, if I'm a dentist or a doctor and my practice is dependent on me being there to produce income, that's not just affecting my income, that's affecting other people's income. And that could affect the health of the practice. So having a disability overhead policy allows for me to have capital to keep running the business even though I'm not still producing income. So maybe I can hire a another doctor to come in, or I can hire an associate to come in and run the practice while I'm disabled. While a practice in that condition is in a way better state to be able to be sold as opposed to just a fire cell where we need to get this sold as quick as possible because the main , uh, valve going into this , uh, practice producing income is out of the picture. Um, so from that standpoint, overhead disability, overhead insurance is a , is very crucial aspect that's often overlooked in a financial plan. And then it allows for a cell to take place in a favorable environment and context as opposed to like, we're kind of drowning here. Can you throw us, you know , a life, a life preserver to keep us afloat with this practice by buying it.

Disability Attorney Nancy L. Cavey:

Well you brought up a good point, but how about like key person insurance where , where the person becomes disabled and that allows the, the , the practice to continue? Can you speak to that and , and how it flows into a financial plan?

Speaker 2:

Absolutely. Yeah. That, that's another big pers that's another big aspect. You know, a key person policy keeps the business running in the event of a, of an important employee or operator running the business. And if, if that's not in place, you know, it , it could have easily affect the profitability of the company. And then the sell of the business is, you know, it might be a metric of EBITDA or, or so many times of revenue. And if that key person isn't insured and there's not revenue to come in that could help supply or supplement what that person was doing in the practice, it could have a major impact on what the business could go for in a purchase.

Disability Attorney Nancy L. Cavey:

And potentially , uh, it can help buy out that person's interest in the practice making their exit from the practice easier. Would you, yeah ,

Speaker 2:

So , so the key person, you know, a buy sell agreement would be essential and , and not, we see a lot of times that people have buy, sell agreements in the contract, but they're not funded.

Disability Attorney Nancy L. Cavey:

Ah , so

Speaker 2:

What I mean by that is whether it was a , uh, someone passing on or whether it was someone becoming sick and injured in a disability, is the business gonna bleed cash to be able to buy that person out? Where's the funding gonna come from to be able to buy that person out such that the, the business can give them what they're due but yet still stay afloat and a disability policy funds that incredibly well. And then on , in an unfortunate event of a passing on of a, of an owner, then there's immediately capital that's received by the company on a tax free basis to be able to buy that person's spouse out of what's rightfully theirs.

Disability Attorney Nancy L. Cavey:

Great, fantastic points. Um, and of course that leads me to that other point , uh, and question about life insurance, particularly in the, in the context of , uh, a business owner, a professional. Um, to what extent does the life insurance play a role, not only in financial planning, but in the context of someone who is disabled, they obviously can't get, you know, insurance at that point, but in your financial planning, particularly with business owners, what are you talking to them about in terms of life insurance?

Speaker 2:

Well, from a , from strictly from a protection standpoint, there's no amount of money that's gonna replace the, the , the value that that person brings to a company. But if we can just separate, you know, the value that they bring to the company and then the economic impact , uh, it's, it's, i it's really, we call it the human life value calculation, which is that person is no longer going to work. So what's the amount of money that it would take to replace the amount of income that's going to the family or the business to replicate that person going to work with the amount of capital that's going to work to and producing income from that capital to replace that person's income?

Disability Attorney Nancy L. Cavey:

Wow, that's a fantastic point. Let's take a break 'cause I got some more questions, but I'm gonna give , uh, the audience a break here for a moment. Alright , welcome back. I'm just really enjoying this conversation , uh, about financial planning and again, I wanna thank you for taking the time to do this.

Speaker 2:

Me too. Nancy, I'm enjoying this as well, <laugh> .

Disability Attorney Nancy L. Cavey:

So how do you find a really great financial planner?

Speaker 2:

Well, there's one thing that I think is crucial. Um, the first thing to realize is that all financial planners are not the same. There might be a someone who calls themself a financial planner that just focuses on insurance, and then there might be a financial planner that just does , um, assets under management where it's, the conversation begins and ends with rates of return and investment strategies. So the first thing to look at is a comprehensive financial planner. Um , what is the scale and the scope of the work that they're gonna do with you ? And how often are they reviewing these areas? Like are they just a disability specialist? Are they just a life insurance specialist? Are they , you know, the C F P designation is important 'cause it gives you a rounded education in all of these different areas. So it's a clear delineator between somebody that just calls themself a financial advisor or a financial planner and someone who's really done the academic work and testing to be able to be qualified to speak in all of these different areas. So a a comprehensive financial planner versus just someone who's called a financial planner or advisor. Um, then the second point that I would say is, is a fiduciary , uh, a fiduciary takes a , a stand and an oath to do what's in your best interest legally. And they stand as a, it stands as a repercussion if they don't do that as a, as in operating in your best interest. So I'm sure , I'm sure you've seen a lot of different advisors in your day, Nancy, and, and you know, it it , it's not like walking into a, a Ford dealership where you know that the person's there to sell you a Ford is , works for Ford and there's, you know, there's no conflict of in you . You understand it. They , if I ask 'em about a Chevy, they're gonna give me un , you know, unfavorable opinion of a Chevy and they're gonna talk to me about a Ford. Well, you put out the term financial advisor or financial planner and it's not, it's not as clear cut in in all the different areas of, of financial planning.

Disability Attorney Nancy L. Cavey:

One of the things that I think differentiates you from a lot of financial planners is your holistic approach to the whole issue of financial planning. Um, are there any keys to finding a holistic financial planner like you?

Speaker 2:

Well, it , it , we live in America where there's so many great opportunities to start a business and so many different financial advisors out there. And so you as a, as a consumer have the right to find somebody that fits exactly what you're looking for. And so when somebody comes into our office, we always encourage them to talk to other financial advisors because if, if we're not what they want, we don't wanna have like a relationship that's conflicted or strained at all. Maybe somebody just wants an investment advisor, they don't want a comprehensive approach. So really just asking questions and not being afraid to get underneath the hood of the practice because there can be a lot of platitudes and industry jargon. Really, really asking the questions of, of how will you help me in tax planning? Or how can you be a strategist when it comes to my estate? What are the plans that we've put in place when it comes to my protection or my retirement distribution? Not just a beginning and end conversation based off of a , you know, a single product.

Disability Attorney Nancy L. Cavey:

Right? So obviously the question I get when I recommend to my clients , uh, that they have a financial planner or go back to their financial planner , um, how do you get paid?

Speaker 2:

Oh , that's really good. So again, the, the point that I like to look at with this is, let's just use a an analogy here, Nancy. Let's say that there's a butcher and then there's a dietician. And you may have heard this analogy before. Have you heard this before?

Disability Attorney Nancy L. Cavey:

I haven't, but I'm smiling anyway. <laugh>,

Speaker 2:

You know, when when you go into meat with a butcher, they're not gonna tell you, Hey, this is the third time you've been in here for steaks this week. Maybe you should go and get some , uh, vegetables or, you know, settle down on the meat <laugh> . They're just gonna sell you what they, you know, what they have, which is their meat. And you know, that's, that is fine. Uh , but the , let's look at the approach of a dietician. A dietician's job is to give you , uh, advice based off of your overall health experience, the elevating your health. So a lot of people are actually working with what I'd call, quote unquote a , a butcher from a financial planning perspective where they're just the, the advisor is getting paid for the transaction of a, of a product, whether that's a mutual fund or an an insurance policy or might be an annuity. Once that transaction's done, the commission has been paid. And really there's not incentive to keep the client relation client advisory relationship going. We're on the other hand, in , in a dietician type of perspective, the fee is being paid for ongoing coaching and advising to help them be in an overall better financial situation. And so a fee based creates more of a dynamic relationship between the, the client and the advisor.

Disability Attorney Nancy L. Cavey:

So it's , uh, transactional as opposed to

Speaker 2:

Like fee-based.

Disability Attorney Nancy L. Cavey:

Right. Okay. Yeah. Um, so,

Speaker 2:

And one thing on that, Nancy, is that it should be very clear, I guess shouldn't have to be a , a diving deep into documents that are five, you know, 50 pages long to identify how much you're paying the advisor for that advice. Um, it should be very transparent and clear.

Disability Attorney Nancy L. Cavey:

Great. So what are the three top common questions you get as a financial planner, and what are the answers?

Speaker 2:

Well, the, the first question that comes up for sure the most often is, do I have enough money to retire? And that is such a common, a common asked question. And will , how long will it last? That , that's an , that's the second most common asked question. But the third, I would say the third most commonly asked question is, you know, what do you do <laugh>? Like, what do you do as a financial advisor? 'cause going back to what I said, there's so many different angles of finance where it could be insurance, it could just be , uh, cashflow management, management , uh, whether it might be investment management, what are the mo what's the breadth of your practice? And that's a question that I would encourage everyone to ask is what, what are the areas that you really focus on when with your clients?

Disability Attorney Nancy L. Cavey:

Cool. Alright . Fantastic. We have learned a ton. Um, we work together, obviously you , you, you probably appreciate that in the course of this podcast. Um, and I have found , uh, Mr. Black to be fantastic works with clients. Uh, we have a synergistic relationship as we help our clients plan for filing a disability application or dealing with the financial application or aftermath of, of disability. So if you wanna get ahold of Greg , uh, he's at 10 cap , you can call him at (801) 790-2386 . Do you have anything to say in closing?

Speaker 2:

I do. Nancy, I just wanna acknowledge you. I I just can't tell you how grateful we are to have , um, a resource like you that we can work with. Um, there's so much confusion and overwhelming and just o I I would say like, it , it can really be an insurmountable obstacle for people as they go through this process of applying for disability coverage , um, excuse me, help when they're in a disability case. Having somebody like you on our team has just been a incredible resource for us because you've dealt with this so many times, you've seen all the , all the different obstacles that people have to overcome. So I wanna acknowledge you and your team and thank you for the great help that you provide to us. Well

Disability Attorney Nancy L. Cavey:

Great. Thank you. And thank you for taking the time today to speak with us. You .