In this episode: what follows tragedy, the importance of wills and beneficiaries, intestate succession, and probate.
This week we are joined by Amy to discuss her personal account and experience with estate planning in the event of an unexpected passing, and what this can look like when plans aren’t in place. While death can be an uncomfortable topic to think about, it’s important to take time to garner a plan in place so that your loved ones are both prepared and not overwhelmed in the event of your passing. A large part of FI is about taking actionable steps to make your life easier, and estate planning is no different. From designating beneficiaries and setting up wills, to utilizing password verification methods on your accounts, there are many actionable steps you can take in order to make the process of passing easier for your family and loved ones. Amy’s story is not meant to be a cautionary tale, but rather a reminder to not ignore or avoid a personal subject matter just because it’s uncomfortable.
Timestamps:
Resources Mentioned In Today’s Episode:
453 | From Food Stamps to FI | Theresa
452 | This is Not a Dress Rehearsal | August Roundup with Katie
451 | Mini-Retirements to Accelerate Your Path to FI | Jillian Johnsrud
450 | Catching up to FI | Becky Heptig & Bill Yount
449 | Rubber Ducks and Systems for Land Investing
448 | July Roundup: Working Backwards Into FI
447 | Mailbag: Breaking up with your Advisor, I Bonds, 4% Rule, Accounts for Kids, Roth IRAs | Sean Mullaney
446 | Small and Mighty Real Estate Investor | Chad Carson
445 | Fundamental Truths of Investing | Brian Feroldi
444 | Spending for Happiness | Carl Jensen & Doug Cunnington
443 | The Invisible Nature of Spending | Ginger Roundup
442 | Intermediate Travel Rewards
441 | The Valuist Returns | FI Roundup with Bo Loy
440 | Past Failure Does Not Define Future Success | Amy Minkley
439 | Adjusting to Life After FI (Before You Get There) | Chris Terrell
438 | Dollars and Sense | Clint Murphy & Ginger
437 | Student Loan Forgiveness: Essential Update | Travis Hornsby
436 | From Vision Board to Action: A FI Success Story | Rakesh
435 | Tipped Finance | Barbara Sloan
434 | The Transtheoretical Model of Change | Roundup with Ginger
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