What is one of the most shocking statistics that impacts your finances? Spoiler Alert: It affects everyone regardless of age, gender, socioeconomic status, or where you live.
If you guessed mortality, you’d be correct. 100% of us will die. We know that this is not something to take lightly, and here at the Money Guy Show, our goal is to make sure that you and your family are financially prepared for all of life’s seasons.
Are you and your loved ones financially prepared and protected for when you pass on? Tune in to this episode and learn how to adequately plan your finances when you’re gone, how to approach finances if a loved one passes away, and what you need to know to be an executor of an estate.
Here’s What You’ll Find Out in this Episode:
- How to plan your estate to make it easier on your loved ones when you’re gone
- The significance of creating a net worth statement for your family
- The importance of having accounts in one place
- Why you should write a letter for your personal sentimental items
- The value of making sure that your final wishes are communicated clearly
- What the first steps are to assume the role of executor of someone else’s estate
- The responsibilities of being an executor of an estate
- The common pitfalls to avoid when planning your estate or managing someone else’s estate
- How to handle distributions of assets to heirs
- The pros and cons of an executor accepting a fee
- Things to consider before accepting being the executor of someone’s estate
- Why you should have a list drafted of all the contacts that will make your executor successful
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