Your Money & Your Life Podcast

Your Money & Your Life Podcast header image 1

Passing Down An Inheritance

July 15, 2021

Leaving an inheritance is often a goal, but how can it be done effectively? We talk through the different mistakes to avoid and the things to pay attention to when estate planning.

Show notes & more resources:

Episode highlights:

0:38 - How does Don like to travel?

3:30 - Baby Boomers are starting to distribute record amounts of wealth.

5:29 - What’s the average inheritance?

6:04 - Some choose to gift to their children and grandchildren while they are alive.

9:21 - How did the SECURE Act impact inheritances?

10:54 - There are designated beneficiaries and non-designated beneficiaries. 

15:55 - How does the beneficiary form differ from a will?

19:36 - Cash Connection: What’s the best way to help my 18-year-old with retirement savings?