Per Stirpes: How This Funny Word Can Save You From Sending Thousands (or Millions) of Retirement Dollars to the Wrong Beneficiary

Stay Wealthy Retirement Podcast

Taylor Schulte, CFP®

Financialplanning, Retirement, Money, Taxplanning, Stocks, Wealth, Business, Investing, Retirementplanning

2.4 • 606 Ratings

🗓️ 21 January 2020

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today I'm going to explain exactly what Per Stirpes is.

Per-what?!

Yes, it's a funny Latin legal term but it recently saved my client from sending a healthy six-figure sum to the wrong beneficiary.

And she didn't even need to hire an attorney to fix it!

If you want to make sure your money is inherited by the right people when you are gone, you’ll enjoy today’s episode.

For all the links and resources mentioned in today's episode, visit www.youstaywealthy.com/61

DISCLAIMER: This podcast is for informational and entertainment purposes only and should not be relied upon as a basis for investment decisions. This podcast is not engaged in rendering legal, financial, or other professional services.

Transcript

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0:00.0	Hey, everyone, really quick before we start the show, the world of podcasting is still very much the Wild Wild West, and it can be challenging for people to discover new high-quality podcast to listen to.
0:12.1	I would personally love to help more people find this show this year, so I'm going to make a deal with you.
0:17.9	I have a big box of one of my favorite finance books written by New York
0:22.2	Times columnist Carl Richards called The Behavior Gap. If you leave an honest written review for this show
0:30.6	in the Apple podcast app, I'm going to send you a copy. So here's all you have to do. On an iPhone or
0:36.9	iPad and borrow your coworkers if you have
0:39.2	to, leave a written review in the Apple podcast app, not just one of those quick star ratings,
0:45.2	but an honest written review. Take a screenshot of it and email it to me at podcast at you
0:52.1	staywealthy.com along with a good mailing address and I'll get the
0:56.0	book out to you ASAP. Now, if Carl wasn't overseas right now, he actually said he would
1:01.2	have signed all of these books for us, but I think I came up with a better idea. So here is Carl
1:06.8	Richards, author of the Behavior Gap with a special message for the stay wealthy community. Greetings from London. I'm Carl Richards, author of The Behavior Gap with a special message for the stay wealthy community.
1:12.6	Greetings from London.
1:14.6	I'm Carl Richards author of the book, The Behavior Gap.
1:17.6	And I am honored and thrilled that Taylor is giving copies of that book away to you, listeners of this podcast. And I thought I'd just give you a little sort of sneak
1:30.2	peek of the book. I noticed about 20 years ago when I first started giving financial advice for
1:37.8	living that we are crazy when it comes to money. We humans, you, me, all of us. Right, we're crazy, but here's
1:45.9	this sort of tricky part about our crazy behavior when it comes to money is that it's always
1:50.9	well-intentioned. We don't know that we're crazy or else we wouldn't do it. So we have this
1:57.7	whole set of well-intentioned behaviors that are actually hurting us.
2:05.4	And we all do.
2:07.8	Now, I mean, here's the thing.
	...

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