Most people know they should have estate documents in place. Fewer people understand that the documents are only part of the work. In this episode, Craig talks with Emily Harper of Monument Wealth Management about why estate planning often stalls, why families postpone the hardest decisions, and why waiting for “later” can leave loved ones carrying the burden in a crisis.

Craig connects the conversation to his own hospital experience, including the ventilator decision his wife was forced to make under pressure. Emily explains why powers of attorney, medical directives, and clear decision makers matter so much, not just legally, but emotionally. The goal is not only to make the process cleaner. It is to reduce the weight placed on the people who have to act when something goes wrong.

Emily also shares what she has learned while going through the estate-planning process herself. Even as a Certified Financial Planner, she found that hiring the attorney was easier than making the decisions. For couples without children, the process can be even more complex, because the answers about who should decide, who should receive assets, and what kind of impact the money should create are not always obvious.

The conversation closes with a practical way to begin: start with values. Before the questionnaires, documents, and legal decisions, Emily recommends identifying the north stars that guide the choices. Craig and Emily also talk about AI as a useful tool for education and productivity, but not a substitute for experienced human judgment when decisions affect money, family, and long-term legacy.

Want to learn more about Emily Harper’s work? Visit Monument Wealth Management at https://monumentwealthmanagement.com/.

Connect with Emily Harper on LinkedIn at https://www.linkedin.com/in/emilyharpercfp.

Think you’d be a great guest on the show? Apply at https://fiduciaryalchemy.com/podcast/apply/.

Want to learn more about Craig Andrews’ work? Check out https://fiduciaryalchemy.com/.

Business owners start retirement plans for the right reasons. They want to help employees save, compete for talent, and build something that serves people beyond the paycheck.

But qualified retirement plans come with responsibilities many owners do not realize they have.

In this episode of Fiduciary Alchemy, Craig talks with Jeff Atwell, Sr. VP Fiduciary Services at AmericanTCS Fiduciary Services, LLC, about ERISA, fiduciary duty, pooled employer plans, and the governance obligations that sit behind every qualified retirement plan.

Jeff has worked with retirement plans for decades and has been involved with more than 3,000 plans since 1978. He explains why every plan, whether it is a startup plan or a billion-dollar plan, has to follow the same core rules: the Internal Revenue Code, Department of Labor regulations, ERISA, and the plan’s legal documents.

Craig and Jeff dig into why “fiduciary duty” is not just a phrase buried in paperwork. ERISA expects plan fiduciaries to act as prudent experts. For many business owners, that standard is uncomfortable because they are already working full-time to stay expert in their own business.

Jeff explains how responsibility can reach the board of directors, officers, and committees overseeing the plan. He also shares why misuse of plan assets, late deposits, poor documentation, and failure to monitor service-provider compensation can turn into serious financial exposure.

One of the clearest examples comes from plan fees. If a plan sponsor cannot document that provider compensation is reasonable, Jeff explains how a seemingly routine $50,000 annual fee issue can become a $300,000 problem across a six-year lookback period.

The conversation also covers pooled employer plans, a structure Congress created in 2019 to help employers outsource more of the retirement plan governance burden to a prudent expert. Jeff explains why this has become attractive to business owners who want to offer a strong retirement benefit without personally carrying every governance responsibility.

This episode is for business owners, executives, and advisors who want to understand the risk behind qualified retirement plans before the Department of Labor or IRS forces the issue.

Want to learn more about Jeff Atwell’s work? Visit Fiduciary XChange at http://www.fiduciaryxchange.com.

You can reach Jeff Atwell directly at jatwell@americantcs.com or 972-358-6778.

Connect with Jeff Atwell on LinkedIn at https://www.linkedin.com/in/jeff-atwell-145bb122/.

Think you'd be a great guest on the show? Apply at https://fiduciaryalchemy.com/podcast/apply/.

Want to learn more about Craig Andrews' work? Check out https://fiduciaryalchemy.com/.

Business owners like to believe they have time. Time to revisit the agreement. Time to fund the insurance. Time to decide who owns what, who gets paid, and what happens if one partner suddenly cannot show up tomorrow.

In this episode of Fiduciary Alchemy, Craig talks with Alexander Langan about the planning gaps that feel administrative until they become catastrophic. A business partner dies unexpectedly. A widow is left with five children. The company has paperwork, but the formula is wrong, the insurance was never funded, and everyone is left trying to solve a cash problem during grief.

That is where buy-sell agreements can become dangerous. The document may exist, but the details decide whether it works. Divorce, death, disability, spouse ownership, partner control, payout timing, valuation formulas, and cash flow all matter. If those questions are avoided when everyone is getting along, they will not become easier when people are hurt, scared, or fighting.

Alex explains how stale valuation formulas can quietly turn into multimillion-dollar problems. A company may start with a modest enterprise value and a formula that seems generous at the time. Then 20 years pass, the business grows to $10 million or $15 million, and the old agreement still points to a payout that no longer resembles reality.

Craig and Alex also talk about the other side of planning: the 10-minute conversation that can save a family millions. Alex shares how one family business reviewed an estate issue before the value moved too far, shifted ownership while it still made sense, and avoided roughly $4 million in future estate-tax exposure.

The conversation moves into insurance, but not as a product pitch. Alex separates term insurance from permanent insurance, explains why term coverage is often the cleaner business-continuity tool, and warns owners to understand whether the person selling insurance is independent or tied to one carrier.

They also look ahead at broader economic risk, liquidity, and the need for a war chest. Whether the pressure comes from a partner’s death, a market downturn, a hiring opportunity, or a retirement timeline, the same principle keeps coming back: clarity and cash flow give business owners more choices when the easy options are gone.

Want to learn more about Alexander Langan’s work? Visit Langan Financial Group at https://langanfinancialgroup.com/.

You can reach Alexander Langan directly at alex@langanfinancial.com.

Think you’d be a great guest on the show? Apply at https://fiduciaryalchemy.com/podcast/apply/.

Want to learn more about Craig Andrews’ work? Check out https://fiduciaryalchemy.com/.

A business owner may think distributions are the reward for years of risk. A buyer may see the same distributions and wonder why the owner stopped betting on the business.

In this episode of Fiduciary Alchemy, Craig talks with Richard Parker, founder of Roy Street Advisors, about what makes a lower middle market business more valuable, more buyable, and less likely to fall apart during a sale.

Richard explains why reinvesting in the business can create a much larger return than pulling every available dollar out. People, processes, second-level management, sales, and marketing all become part of the value story. If the business sells at a multiple, every dollar of real growth can come back multiplied.

That is why cutting sales and marketing before a sale can be so destructive. Richard sees owners reduce payroll or marketing to make the numbers look cleaner, but good buyers notice the disturbance. They line up the financial statements, compare year over year, and look for the odd ripple that says something changed.

Craig and Richard also get into what buyers should be looking for beyond the financials. Stable revenue matters. Margins matter. Expense discipline matters. But Richard argues the bigger question is whether the buyer is the right fit to own the business. If the owner-operator's skill set does not match what the business needs, the numbers may not save the deal.

The conversation moves into culture after acquisition. Craig brings up the fear many owners have: selling the company, then watching the buyer damage the people, reputation, and work that took decades to build. Richard pushes back on the old caricature of private equity and explains why better buyers know they are buying people, culture, and continuity, not just cash flow.

For owners thinking about exit, Richard lays out three questions that matter: is the business ready to sell, is the owner ready to sell, and what does the owner want after the sale? Money may be the main driver. Legacy may matter just as much. And for some owners, the hardest part is figuring out who they are when the business is no longer their identity.

For buyers, Richard's advice is disciplined but encouraging. Buying a business is doable, but not by collecting random snippets from social media, AI, or online communities full of people who have never closed a deal. Start smaller. Learn the process. Find someone credible who has already done what you are trying to do. Then buy the biggest business you can afford to operate without pretending your first acquisition needs to be the moonshot.

Want to learn more about Richard Parker's work? Visit Roy Street Advisors at http://roystreet.com.

Connect with Richard Parker on LinkedIn at https://www.linkedin.com/in/richardparkerdiomo/.

You can also reach Richard directly at rp@roystreet.com or 561-308-1650.

Think you'd be a great guest on the show? Apply at https://fiduciaryalchemy.com/podcast/apply/.

Want to learn more about Craig Andrews' work? Check out https://fiduciaryalchemy.com/.

An Austin attorney with hundreds of cows sounds like the start of a lighter conversation. But Ellen Dickerson knows ranch life and estate planning have at least one thing in common: waiting until something goes wrong is a bad strategy.

In this episode of Fiduciary Alchemy, Craig talks with Ellen Dickerson, Partner at Hardie Alcozer, about the plans families avoid until the moment those plans are needed most.

Ellen starts with the line that cuts through the discomfort: nobody gets out of here alive. Estate planning is not really about being morbid. It is about making sure your family has a way forward when grief, confusion, illness, or incapacity would otherwise force them to improvise.

That timing matters. Ellen explains why the time to do estate planning is not when you need it. A sudden accident, a medical diagnosis, dementia, Alzheimer's, or a gradual loss of capacity can all make planning harder or impossible if the right documents are not already in place.

Craig and Ellen also get into the difference between documents that protect you while you are alive and documents that move assets after death. Powers of attorney and incapacity documents help someone step in for financial and medical decisions while you are still here. A will handles what happens to your assets after you pass away.

The conversation gets practical fast. Where are the original documents? Who knows how to access them? Is the will in a safe deposit box that nobody else can open? Does the person you trust have the safe combination, or will they forget they have it when the crisis comes?

Ellen also explains why digital access has become part of modern estate planning. Phones, passwords, bank logins, password managers, legacy contacts, and social media accounts all matter. If family members cannot get in, they may not be able to pay bills, find assets, close accounts, or protect a vulnerable person from scams.

For people who think their situation is too simple to need planning, Ellen gives the bare minimum: a will, financial and medical powers of attorney, and related incapacity documents. Without them, the law still has a plan. It just may not be the plan you would have chosen.

Want to learn more about Ellen Dickerson's work? Visit Hardie Alcozer at https://hardiealcozer.com/.

Connect with Ellen Dickerson on LinkedIn at https://www.linkedin.com/in/edickerson/.

You can also reach Ellen directly at ellen@hardiealcozer.com or 512-374-4922.

Think you'd be a great guest on the show? Apply at https://fiduciaryalchemy.com/podcast/apply/.

Want to learn more about Craig Andrews' work? Check out https://fiduciaryalchemy.com/.

Most owners know they will eventually leave the business. The harder question is whether the only realistic exit is selling to private equity, watching the culture change, and hoping the community, team, and legacy survive the spreadsheet.

In this episode of Fiduciary Alchemy, Craig talks with Austin Smith, Principal, VP, and CIO at Schulz Wealth, about how business owners can create other paths before exit pressure forces the decision.

Austin explains why so many owners arrive at the same problem: most of their net worth is trapped inside one concentrated business asset. The company may be profitable, valuable, and growing, but the owner’s personal balance sheet is still exposed to one outcome. Schulz Wealth calls the broader plan the owner’s “wealth stack,” and the goal is to build meaningful assets outside the business before the exit conversation becomes urgent.

That changes the private equity conversation. If an owner has already built financial strength outside the company, the highest headline valuation may not be the only acceptable answer. A management buyout, family transition, ESOP, or other structure can become possible because the owner is not relying on one buyer to make the whole retirement plan work.

The conversation also gets into the cash sitting inside the business. Austin talks about the difference between necessary working capital and what his team calls “dead money,” excess cash that may feel safe but is not producing much return. Once the real operating needs are understood, some of that capital may be moved outside the company to strengthen the owner’s personal plan.

Craig and Austin spend time on the risk behind management buyouts. Selling to the team can preserve continuity, reward the people who helped build the business, and protect the culture that made the company work. But if the owner carries the note, the owner is still financially tied to whether that team can execute after the handoff.

That makes succession more than a legal transaction. The real test is whether the business can run without the founder before the sale happens. Austin and Craig talk about the value of stepping away, taking a true sabbatical, and seeing whether the team can operate without constant owner intervention.

Austin also shares how Schulz Wealth has applied the same thinking internally. As the firm advises owners on long-term transition planning, it has also built its own ownership transition with intention, alignment, and a structure designed around the actual goals of the people involved.

Want to learn more about Austin Smith’s work? Check out Schulz Wealth at https://schulzwealth.com/.

Connect with Austin Smith on LinkedIn at https://www.linkedin.com/in/austin-smith-cfa-cfp%C2%AE-245551108/.

Think you’d be a great guest on the show? Apply at https://fiduciaryalchemy.com/podcast/apply/.

Learn more about Fiduciary Alchemy at https://fiduciaryalchemy.com/.

Average returns make retirement planning look cleaner than it really is.

Clients do not retire into averages. They retire into real markets, real tax bills, real spending needs, and real fear when one bad stretch shows up at the wrong time.

In this episode of Fiduciary Alchemy, Craig talks with Jack Oujo, Financial Advisor at Oujo Wealth Strategies, about why retirement planning has to account for the inning that can change the whole game.

Jack spent eight years as a professional baseball umpire before building his advisory career. That experience gives him a plain way to explain risk: a team can play well for eight innings and still lose because of one bad inning. A retiree can save for decades and still get hurt by one badly timed market, tax, debt, or insurance decision.

Craig and Jack dig into why advisors should be careful with smooth projections and average-return promises. A plan that only works in the average case may look good in a meeting but fail when the client needs it most.

The conversation moves through tax-aware planning, mortgage decisions near retirement, and insurance conversations that too often start with a product instead of the client's full situation. Jack's position is practical: tax planning can create more dependable value than chasing returns, but tax savings should never override sound judgment.

They also talk about the advisor's job as a communicator. The best advisor in the room is not the one who proves how much they know. It is the one who helps the client understand the decision clearly enough to own it.

This episode is about protecting clients from the avoidable loss, planning for pressure before pressure arrives, and making complex financial decisions feel manageable instead of intimidating.

Want to learn more about Jack Oujo's work? Visit Oujo Wealth Strategies at https://www.oujowealthstrategies.com/.

You can also learn more about Jack's book, Too Smart to Be an Umpire, at https://toosmarttobeanumpire.com/.

Connect with Jack Oujo on LinkedIn at https://www.linkedin.com/in/jack-oujo-cpa-cfp-ms-tax-97906810/.

Think you'd be a great guest on the show? Apply at https://fiduciaryalchemy.com/podcast/apply/.

Want to learn more about Craig Andrews' work? Check out https://fiduciaryalchemy.com/.

Most families assume the important information is “somewhere.” A folder. A drive. A password manager. A safe. A filing cabinet. A shared document. But when someone dies suddenly or becomes incapacitated, “somewhere” is not a plan.

In this episode of Fiduciary Alchemy, Craig talks with Jeffrey Shavitz, Co-Founder of FamVault, about the gap between having documents and having a real family access process.

Jeffrey explains why the old paper folder problem has become a digital folder problem. Families may have estate documents, passwords, wills, safe codes, pet records, attorney contacts, vaccine records, social media accounts, financial details, and other critical information scattered across tools that no one else can reliably reach. FamVault’s work is built around making those details organized, findable, and accessible to the right people when the moment comes.

The conversation gets practical fast. Jeffrey shares the story of a cardiologist friend who died suddenly after seeming healthy and high-functioning, a reminder that success does not automatically mean readiness. He also tells the story of a family facing a wall safe after a death, with no one knowing the code. Craig connects it to his own experience of watching a family member try to hack into a password vault even though access had technically been provided.

The lesson is simple: storage is not the same as succession. Google Docs, Dropbox, password vaults, and shared folders can all fail if the next person does not know what exists, where to find it, or how to get in.

This is not just an ultra-wealthy family issue. Teachers, police officers, firefighters, veterans, business owners, retirees, and everyday families all leave behind complexity. The question is whether that complexity becomes manageable or whether it lands on grieving people as a scavenger hunt.

Jeffrey and Craig also push back on the idea that families need to fix everything at once. The better move is to start small, build a process, sit down with the people who will matter in a crisis, and make the right information findable before it is needed.

Want to learn more about Jeffrey Shavitz's work? Check out his website at http://www.famvault.com.

Connect with Jeffrey Shavitz on LinkedIn at https://www.linkedin.com/in/jeffshavitz/.

Think you'd be a great guest on the show? Apply at https://fiduciaryalchemy.com/podcast/apply/.

Learn more about Fiduciary Alchemy at https://fiduciaryalchemy.com/.