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Big Picture Retirement

If you are planning for, or living in, retirement…this is the show for you. The success of your retirement may depend on how well you planned for the "big picture" and connected the dots of your legal, tax, and financial plan. In this show, we’ll dig beneath the surface and discuss how you should apply this planning with your hosts- attorney John Ross and financial planner Devin Carroll.
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Dec 4, 2023

Today we're bringing back a fan favorite from 2022. The Fine Print of Beneficiary Designations.

This is something that seems straightforward at first glance - just fill out a form naming the people you wish to inherit your account in the event that you pass away. 

Seems simple enough, right?

What lurks in the background is some nuance contained within these designations that may result in unexpected outcomes.

Two examples:

-Not properly designating per stirpes vs. pro rata can actually lead to accidentally disinheriting members of your family that you had NO intention of cutting out

-Leaving a trust as the beneficiary can be the perfect solution or the worst solution (depending on the language in your trust)

In this episode, John and Devin discuss how to ensure your assets will be passed in accordance with your desires (without leaving a tax bomb as a parting gift). 

If you’re thinking "I love the Big Picture Retirement podcast” please consider rating and reviewing this show! This helps us support more people -- just like you -- move toward a confident retirement. Just scroll down to the “ratings and reviews” section, tap to rate with five stars, and select “Write a Review.” 

Although this show does not provide specific tax, legal, or financial advice, you can engage Devin or John through their individual firms. 

Contact Devin’s team at https://www.carrolladvisory.com/ 

Contact John’s team at https://www.rossandshoalmire.com/

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