Episode Description
Kim and Emily tackle a heavy topic with a light touch: What happens to your assets after you die, and how do you plan for the people you leave behind? They explain why a will is the first step, why named beneficiaries carry more weight than the will itself, and how a little paperwork today can spare your family months in probate.
Death and Beneficiaries
Episode Summary
After celebrating the announcement that the firm’s been named to CNBC FA 100 for a seventh straight year, Kim and Emily turn to estate planning basics, starting with the will and the surprising range of things it can cover (Kim has plans for Mr. Burns, her Russian tortoise). They make the case for naming a beneficiary on every account you own and explain what probate can mean for the family members left to sort things out. Inherited IRAs come next, including a tax break that rarely gets mentioned to heirs. Plus, learn why a WFM colleague thinks one particular estate planning term sounds like it requires a prescription.
“It’s one of the last opportunities we have to make things a little easier for the people we love.”
Podcast Description
Financial Strides is your practical guide to financial wellness, hosted by Kim and Emily from Woodley Farra Manion Portfolio Management. Each episode tackles real money questions with clear, jargon-free conversations designed to fit your life and your pace, helping you build confidence in your financial decisions one step at a time.
Woodley Farra Manion does not provide tax, legal or accounting advice. The material discussed in this podcast series is informational in nature and is not intended to provide and should not be relied on for tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors prior to taking action related to this information.