Your Money & Your Life Podcast
Business:Investing
Americans believe that it is important to have a will, but less than half have one. Not only do many Americans lack a basic will, they often lack very important legal documents like a power of attorney, an advanced healthcare directive (living will) or HIPPA authorization forms. We will begin this discussion in part 1 of 2.
On this episode:
1:30 – Don Cash, a NY Jets fan, shares what the acronym J-E-T-S stands for in 2019.
2:26 – A recent survey found most Americans find it’s important to have a will but less than half actually have one. Why is that?
3:45 – We’re creatures of habit so if no one is talking about these things, they are easily ignored.
5:42 – What are some reasons you need to update your legal documents?
7:50 – A couple more things people should think about: gifting assets, protecting the children, clear up conflicts.
9:07 – For many folks, the 401k, IRA, or life insurance is the biggest asset and it doesn’t get passed on based on will. Instead it goes off beneficiary form.
9:40 – It’s a tough issue to tackle which is why we work to help clients on these circumstances.
10:43 - Not only do we avoid this for our own finances, but we also don’t help our children.
12:02 - Mailbag question: I have to pay an extra premium for Medicare because my income is too high. My wife passed away a few years ago but my income hasn’t really changed. Am I stuck with this penalty?
14:02 - There is an appeal you can file if the surcharge is due to 1 of 8 life-changing events.
Medicare Surcharge and Appeal Form: https://www.ssa.gov/forms/ssa-44-ext.pdf
Caring. Com Estate Planning Survey:https://www.caring.com/caregivers/estate-planning/wills-survey/
Show notes: https://doncashpodcast.com/podcast/how-legal-docume…etirement-part-1/
Artificial Intelligence: Should We Be Afraid?
The U.S. Debt Ceiling Drama Continues
U.S. Debt Ceiling And Federal Reserve Rate Hikes- Insights For Investors
What Is Reinvestment Risk?
The Taxman Cometh – 2023 Edition
Bank Failures & Your Investment Planning – What’s Happening Now?
What is ESG Investing? Don’t Get Fooled
Is Social Security Going Broke? Myths, Truths & Opportunities
Threats, Traps, and Tips for Tax Season
Landmines and Opportunities in SECURE Act 2.0
2022 Year in Review
Year End Planning (It’s Not Too Late)
The FTX Scandal: The Difference Between Wisdom & Knowledge
The Elections are Over! Now What?
ABC’s of Medicare
Weather the Storm and Don’t Lose Focus
Inflation, Early Retirement, & Proposed Changes to Social Security
What the Inflation Reduction Act Means for Planning
Lessons Learned: 40th Anniversary of the Historic Bull Run
Summer Heat and Economic Stress
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
Aligned Money Show
Dubai Property Podcast
IBKR Podcasts
The Ramsey Show
The Clark Howard Podcast