What happens when business partners don’t plan for the unexpected?

In this episode of From Busy to Rich, host Wes Young and co-host Justin Lakin tackle a complex but critical aspect of estate planning: what happens to a business when one partner passes away, and how to avoid the unintended consequences that can follow.

Wes shares real-life stories of business owners who lacked buy-sell agreements, revealing how the absence of clear planning can lead to friction, stalled growth, and strained family dynamics. The conversation expands beyond logistics to explore how business owners can intentionally pass down values, expectations, and vision, creating not just an inheritance but a living heritage.

What to expect from their conversation:

• How to structure a business-focused estate planning conversation
• Common planning gaps that lead to family conflict or business strain
• Buy-sell agreements, key person insurance, and optional property agreements
• How to turn business planning into a tool for heritage and leadership

Resources:

• Submit your podcast question here!

Previous Episodes of Interest:

• The New Client Experience: Location
• The New Client Experience: Expectation

• The New Client Experience: Direction – Increasing Family Bank Velocity
• The New Client Experience: Direction – Unleashing Human Potential

Other Listening Platforms:

• Listen on Apple Podcasts
• Stream on Spotify
• Watch on YouTube

Connect with us:

• Instagram
• X
• Facebook
• LinkedIn
• Youtube
• Wes Young Live Website

In this episode of “From Busy to Rich,” hosts Wes Young, Justin Lakin and frequent guest Michael Scovel dive into the art of effective communication. They discuss the importance of preparation, researching people or companies, and handling unexpected situations with adaptability and gratitude. They also explore how strengths and weaknesses are interconnected, and why authentic confidence—balanced with humility—is crucial.

In today’s episode we will cover:

• Strategies for preparing for meetings, including research.

• Handling unexpected situations during client interactions.

• Parallels between job interviews and client interviews in business.

• Importance of being concise and reading social cues.

• The impact of feedback and coachability.

• The importance of authenticity and honesty in responses.

Resource:

• Submit your podcast question here!

• Transform your practice!

• Get the books and learn more about Michael Scovel here!

• Checkout previous episode with Mike here!

Connect with From Busy to Rich:

• Wes Young Website

• Apple Podcasts

• Spotify

• YouTube

• Facebook

• LinkedIn

• Instagram

• X

What happens after the estate plan is written?

In this episode of From Busy to Rich, host Wes Young and co-host Justin Lakin unpack the essential conversations financial advisors must lead during the Direction Phase, especially those around inheritance, legacy, and the deeper meaning of heritage.

Wes shares powerful stories contrasting the Vanderbilt and Rockefeller family legacies, offering real-world examples of how planning, or lack thereof, can shape generational outcomes. Together, Justin and Wes break down their team’s meeting structure, tools like Planning Shepherd, and how they help clients visualize the impact of estate decisions on income and legacy.

What to expect from their conversation:

• The difference between inheritance (assets) and heritage (values and vision)
• How to present estate flow and income replacement scenarios
• A repeatable meeting format for guiding estate and heritage discussions
• Creative ways to help clients build a living “Family Constitution”

Resources:

• Submit your podcast question here!

Previous Episodes of Interest:

• The New Client Experience: Location
• The New Client Experience: Expectation
• The New Client Experience: Direction – Increasing Family Bank Velocity

Other Listening Platforms:

• Listen on Apple Podcasts
• Stream on Spotify
• Watch on YouTube

Connect with us:

• Instagram
• X
• Facebook
• LinkedIn
• Youtube
• Wes Young Live Website