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You're listening to Ramsey everyday millionaires where we talk investing, retirement, building wealth, and outrageous generosity. Today's question comes from Leo and Washington.

He says I'm 83 years old and I want to know how to set up my inheritance for my children and grandchildren.

I don't want to give them the money. I want to get I don't want to give

them money that okay I see what he's saying he doesn't want them to get this money and just blow

it. There's a couple of details I wish we're here. Obviously you're going to either need a will or an estate plan or a combination of both depending.

If you've got a net worth over millions of dollars and it's a lot of money then you're

probably going to want something like an estate plan to really put everything in

there and decide over time what happens to it. If it's just a couple of possessions and a little bit of money

he might be okay with just a will. But there's probably more to it that you're going

to want to walk through. You're going to want to make sure that you know there's a power of attorney

set up for your medical stuff for your financial stuff you're really going to want to

walk through that estate planning situation.

You know, Dave, if you're just a guy, you know, you got a couple hundred thousand dollars,

you've got a couple possessions, is it worth going through the process of doing an estate planner would you just say yeah

put it in your will I would go to mama bear legal forms and do a will yeah yeah in terms of how to decide

whether you're going number one we need you start with the premise that just because someone is

kin to you does not mean they're entitled to an inheritance okay so I'll give you an

extreme example one of your grandkids is doing heroin. If you leave them money,

you will kill them because they will use it to overdose.

So we do not, you not they're not automatically entitled to money just because they're in your

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