They say you can’t take it with you, so will the assets you’ve accumulated over your lifetime go where you want them to after you die? If it’s been years since you’ve looked over retirement plan documents that name your beneficiaries, you can’t assume they’re still in order, so Rob West and Steve Moore welcome Mike Miller, Managing Director of the South Carolina office of Ronald Blue Trust, to find out what you need to know about designating beneficiaries, and there may be some legal surprises you didn’t know about including our latin term of the day, “Per Stirpes.”
Next they answer listener questions at 800-525-7000 or Questions@MoneyWise.org about the following:
- 60-year-old wants to know if she’s in good shape for retirement and what’s the best way to invest between $10,000 and $20,000?
- If your single 59-year-old son has no health insurance, lives independently, and only works part time because he’s writing a book, should you give him part of his inheritance early in order to pay for health insurance.?
At the end of the program, Steve mentioned the book, Splitting Heirs, by Ron Blue. You can find it on this website (MoneyWise.org). You can also connect with a MoneyWise Coach or access our other books and many free helpful resources. If you’re active on social media, you can find us on Facebook (MoneyWise Media) and join the conversation. Thanks for your prayerful and financial support that helps keep MoneyWise on the air. And if you'd like to help, just click the Donate tab at the top of the page.