DIY Money | Personal Finance, Budgeting, Debt, Savings, Investing Planning for Death
Aug 9, 2023
The podcast discusses planning for someone's passing, including the roles of trustees and executors, conversations about end-of-life decisions, and the importance of updating wills and beneficiary designations.
AI Snips
Chapters
Transcript
Episode notes
Key Trustee and Executor Duties
- Know the responsibilities and details if named trustee or executor before a death occurs.
- Get a copy of the trust or will, know the wishes, and identify involved professionals like lawyers and financial advisors.
Normalize Estate Planning Conversations
- Normalize conversations about death and estate plans early with family and close friends.
- Regularly update your will and beneficiary designations to reflect your current wishes and relationships.
Clarify Roles Before Crisis
- Have detailed discussions about wills, trusts, and health care proxies before a crisis.
- Ensure players handling investments, distributions, and caregiving are known and understand their roles.