Episode 132: Smart Estate and Generational Wealth Planning with Oscar Vasquez
Summary
Longtime real estate investor decided that he was tired of paying attorneys and financial planners for setting up trusts, especially as the time and cost skyrocketed. My guest today found that the time and costs started deterring business owners from creating estate plans. Real estate savvy investor Oscar Vasquez joins me, and explains why he created software to assist in creating trusts for business owners, including real estate investors. As every location has different trust requirements, many real-estate-owning Americans don’t have an estate plan (which means their estate will go through probate). Join me and Oscar and learn about avoiding probate with smart estate planning.
Listen to the full episode :
This Week’s Blog Post:
Why Estate Planning Matters for Landlords
Hi friends, I’m Dr. Jen, and welcome back to another episode of My Life as a Landlord. I recently learned something that shocked me—most Americans have no estate plan whatsoever. That means when someone passes away, their assets go through probate, often leading to a complicated and expensive legal process. This is especially critical for landlords and homeowners, as just owning one property can exceed the minimum threshold for probate in most states.
From Real Estate to Estate Planning
My guest today, Oscar Vasquez, brings years of real estate experience into the world of estate planning. With over 28 years in property management, brokerage, and investing, Oscar saw firsthand how many of his clients' assets ended up in probate court. That’s why he transitioned into estate planning, helping families protect their assets with a software solution that builds comprehensive estate plans—including living trusts—at a fraction of the cost of traditional attorneys.
Avoiding Probate Through Living Trusts
Oscar broke down how a living trust is the key tool in an estate plan. Essentially, it’s a contract between you and your beneficiaries, which outlines how your assets are to be handled—avoiding probate completely if done correctly. If your property is not included in a trust (what's called "funding the trust"), it risks being tied up in court. And if you own property across multiple states? That means multiple probates—one in every location. Oscar stressed that a properly funded living trust is valid across all states and even has international provisions for global investors.
Planning for Your Loved Ones (and Avoiding the Drunk Uncle Clause)
Estate planning isn’t just about avoiding probate—it’s also about making sure your children are taken care of. Oscar explained the guardianship section of a living trust, which includes not only who you want raising your kids if something happens to you, but also who you don’t want—what he lovingly calls the “Drunk Uncle Clause.” It’s a powerful reminder that this kind of planning ensures your loved ones are protected in the ways that matter most.
Tools, Resources, and Taking Action
Oscar generously shared several free resources, including a comprehensive estate planning guide and an AI-based voice assistant to help answer questions about estate law across all 50 states. He also offered a discount code (LANDLORD) for landlords who want to access the software at a significantly reduced rate. His message is clear: don’t wait. The cost of probate, potential taxes, legal delays, and government interference can all be avoided by acting now.
Today’s episode was recorded on Maui, Hawaii—a reminder that real estate truly takes you places. Where do you want real estate to take you? Join me next time for Episode 133, where I’ll be joined by a Canadian-turned-Kiwi sharing what tenancy looks like in New Zealand. See you next time on My Life as a Landlord!