Mile High FI Podcast Why You Need A Will | MHFI 160
May 9, 2023
57:42
Doug and Carl talk to Longmont friend Amy about the death of her husband Phil and the aftermath of dying without a will.
- Phil’s death
- How Colorado treats your estate without a will (intestate succession)
- Specify your beneficiaries. Now!
- Wait, who gets Phil’s money?
- Family fallout
- Actions you need to take
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**Disclaimer: The podcast is for informational purposes. Maybe entertainment but we won't even make such a claim. You shouldn't take the info as financial, legal, or tax advice. We aren't certified financial planners or advisors. We're not qualified for much. So get advice from professionals.**
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Email us here: doug@milehighfi.com or carl@milehighfi.com 0:00 Intro 2:30 Amy's husband's death 10:15 Not having a will in Colorado 16:29 Are parents entitled to the money of a deceased spouse? 25:55 Laws 27:12 Doug's thoughts 27:58 A spouse is our primary person 29:00 Amy's legal process 32:05 Feelings of betrayal 36:11 How to avoid situations like this 38:44 Setting up a trust 41:07 Doug's will 42:00 Why a trust is better than a will 45:15 Losing relationships along the way 49:40 Amy's socials 52:20 Soundcheck