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:
431 | Evolution of FI | Mad Fientist
430 | Mindset, Financial Independence, and Real Estate | The FI Couple
429 | FI Frugal Hobbies | Chris Terrell
428 | Fees, Frugality, and 401K Fears
427 | Drawdown Strategies: Karsten vs. Fritz
426 | What to do with $2.5 Million & Real Estate Update | Scott Trench
425 | Turning the Tables on Brad
424 | The Power of FI | Deanna
423 | What Are You Optimizing For? | Chris Hutchins
422 | Lessons From a Young Entrepreneur
421 | Secure Act 2.0 Deep Dive | Sean Mullaney
420 | Mindful FIRE | Adam Coelho
419 | Your Bold Move for 2023 | Dominick Quartuccio
418 | Investing Lessons Learned in 2022 | Brian Feroldi
417 | Year End Wins 2022
416 | Learning to Leave | Diania Merriam
415 | Four Thousand Weeks | ChooseFI Book Club
414 | House FIRE | Alan Corey
413 | Mental Wealth & Healing | Rich Jones
412 | What's In Your Index Fund? | Katie & Alan Donegan
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