Why You Need A Will | MHFI 160

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.**

Brought To You By:

The Doug Show, aka Affiliate Marketing & Side Hustles

1500 Days, Carl’s Blog about Early Retirement

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