No one wants to think about these things, and still we need this information. Thanks for having this guest.
@Theretirementnerds
7 ай бұрын
Agree 100% so important
@davidfolts5893
7 ай бұрын
Thanks for the great and essential content, 90 Days From Retirement! The death of a spouse is 100 points, the highest stressor on a scale that measures the probability of hospitalization resulting from a certain number of stressors. The spouse's death brings about a cascading effect that creates additional stressors in the financial and other areas of functioning.
@Theretirementnerds
7 ай бұрын
Such a tough thing to go through. It can all be a whirlwind, so hopefully, planning ahead of time can reduce some stress.
@davidfolts5893
7 ай бұрын
@@TheretirementnerdsExcellent point. A good financial planner can make a difficult time a bit easier.
@July.4.1776
7 ай бұрын
90 Days From Retirement 👍👍 Your channel is the best! It is always informative and right on point with great guest.
@Theretirementnerds
7 ай бұрын
Thank you so much!!!
@lusppr
6 ай бұрын
Such an underrated channel, very informative thank you!
@Theretirementnerds
6 ай бұрын
Thank you so much!
@sithbk0075
7 ай бұрын
My mom told me she wants to put my name to the deed of the house so when ever she pass away it’ll be easier for her. Now that I know that I will have to take care of the tax if I become part of ownership of the house before my mom pass away. Thank you for the info. Now I’m thinking maybe it’s best to put my mom assets into a trust instead.
@Theretirementnerds
7 ай бұрын
That's what we ended up doing 🙂
@johnneil6653
4 ай бұрын
Have home titled as "Transfer on Death" if your state allows. Avoids gift implications, loss of step up in basis, estate process, etc. Adding someone to deed is often a mistake, as discussed ad nauseum by financial advisor types on youtoobs.
@joghog
7 ай бұрын
Didn't know that about not putting the children's name(s) on the parent's property for tax reasons....trusts are better for this reason, then. Thanks!
@Theretirementnerds
7 ай бұрын
We were the same! Thank you for watching!
@tinalippincott9823
7 ай бұрын
Excellent presentation and content, as always, Erik. Jaeden was a wonderful guest; very knowledgeable. If I may add a few cautionary notes for spouses, partners, children of anyone they have agency over. Please be aware of and have in writing all log-ins, passwords for any and all bank, checking and financial accounts, social media platforms (FB, Twitter/X, Instragram, KZitem etc.), any online or physical subscriptions, shopping, memberships, log ins for PC, cell phone, any set-up of recurring payments for auto, insurance, utilities, etc.. Inability to access or unawareness of these items may result in huge problems. For example; I cannot tell you how many deceased persons I know who still have a presence on FB. Involves more than simply deleting the account. Just some things to consider.
@Theretirementnerds
7 ай бұрын
Great additions Tina!
@daved2023
7 ай бұрын
@tinalippincott9823 -- This!! I lost my wife of 32 years to breast cancer in August 2023 (she was 50.) I'm a career IT person and as such I made sure she was using a password manager that we both had access to. She managed the finances our entire marriage and it was scary taking over a few months before she died. Fortunately, I had access to all of our accounts and that has made it a much less difficult transition to being a widower. Regarding FB specifically, there is a setting that designates a beneficiary, if you will, that allows the person to be memorialized. This is what I did with my wife's FB page. Anyway, you bring up all good points that no one thinks about.
@CandycaneBeyond
7 ай бұрын
I was told not to spend money frivolously. Unfortunately, I should not have spent anything. Plus I don't think it's a good time to do anything medical either (unless urgent)
@frankrothiz4u
7 ай бұрын
Another important, relevant and well explored topic, thank you.
@Theretirementnerds
7 ай бұрын
Thank you so much for watching!
@frankrothiz4u
7 ай бұрын
@@Theretirementnerds You're welcome.
@maryg6292
7 ай бұрын
Help! The love of my life of 42 years died onJuly 17, 2022. I filed my taxes without any problem for the 2022 year in 2023. All his assets passed to me; neither of us had chilldren.I have a page from some publication that says that for this year's filing for 2023, I can still file with 2 standard deductions. We had always filed as married jointly. I have called the IRS and received conflicting advice. Do you happen to know what happens in the first full tax year after a spouse's death? Mary
@Theretirementnerds
7 ай бұрын
Hi Mary, my email is erik@90daysfromretirement.com Send me an email with the state you're in and we can help.
@JFP9036
7 ай бұрын
Thought this was supposed to be about supplement plans. This isn't a continuation of the last video you had linked to this one. 😤
@Theretirementnerds
7 ай бұрын
Which did you watch before this one?
@JFP9036
6 ай бұрын
@@Theretirementnerds Here's how much we paid with Medicare / Medicare Supplement vs Advantage
@sherrycrosbie9737
7 ай бұрын
Great Job Erik and Jaeden! These are topics that come up frequently and need to be addressed.
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