Be Estate Ready

"I have a will. I think it's good." This week we explain why that sentence almost always means "I don't really know" — and walk through exactly what it takes to be estate ready, so the wealth you leave behind improves the next generation instead of tearing it apart. On this week's Money On Tap, we get into the uncomfortable truth of estate planning: the beneficiary form on an account supersedes your will, and the company holding the asset will pay whoever is named on it — period. We break down the four buckets every asset passes through (will-controlled assets, beneficiary designations, joint ownership, and trusts), the dollars-vs-percentages trap that quietly rewrites your intentions when an estate shrinks, per stirpes vs. per capita in plain English, and the beneficiary mistakes we see over and over — the ex-spouse still listed, the missing contingents, the minor named directly, the fifteen-year-old trust nobody reread. Then we get practical: the life-event red flags that should trigger a review, the master file your family needs (including your digital assets and passwords), the documents beyond the money — power of attorney, healthcare proxy, advance directive — and why preparing your heirs matters as much as preparing the paperwork. We close with the 10 questions to answer before you ever say "my estate plan is done." What you'll learn:Why the beneficiary designation beats the will — and what custodians actually do when there's a disputeThe four buckets of estate planning: will, beneficiary designations, ownership, and trustsThe joint-account trap: why the surviving owner gets 100%, no matter what you intendedDollars vs. percentages: how a shrinking estate rewrites your legacy mathPer stirpes vs. per capita — and why the company's default, not your intent, is what executesThe mistakes we see constantly: ex-spouses still listed, deceased beneficiaries, no contingents, minors named directlyThe life-event red flags that demand a beneficiary reviewThe master file: what your family needs to find, from account lists to digital passwordsBeyond the money: power of attorney, healthcare proxy, and advance directivesPreparing heirs emotionally and financially — why a $1M 401(k) inheritance can feel like a tax billThe 10 questions to answer before you say "I'm done"Plus Money In The News:Moderna shares double on a successful mRNA cancer vaccine — a personalized melanoma breakthrough with MerckThe hidden Roth conversion window through 2028: the senior deduction, the brackets, and the IRMAA trapNational debt nears $40 trillion — and Bank of America's warning for bond investorsWant a white paper on this week's topic? Email us at [email protected] and we'll send it over. Read our most recent Blog Post on this topic here: https://www.fmgwebsites.com/d772de05-9833-44e4-9676-f510f85cef74/blog/be-estate-ready-the-four-buckets-your-will-doesnt-controlSchedule a free consultation: https://app.greminders.com/t/9f3ce72e/initialconsultaBrowse the full Money On Tap library: https://www.brayshawfinancial.com/money-on-tap Contact UsPhone: 855-226-8551Email: [email protected]: 116 South River Road, Bedford, NH 03110Web: brayshawfinancial.comSecurities and advisory services offered through Osaic Wealth, Inc., member FINRA/SIPC. All other services offered through Brayshaw Financial Group, LLC are independent of Osaic Wealth, Inc. Osaic Wealth, Inc. and Brayshaw Financial Group do not provide tax or legal advice. Estate planning involves legal and tax considerations that vary by state and individual situation — coordinate with your attorney and CPA. Examples are hypothetical and for illustrative purposes only.Why doesn't inflation feel like the official 3%?Because inflation is the rate at which prices rise, while affordability is the level of prices you have to live with — and that level never resets. Retirees also buy a different basket than the CPI emphasizes: shelter costs, insurance, property taxes, healthcare, prescriptions, food, and fuel, several of which run far hotter than headline inflation. Oil compounds it, touching every leg of the delivery chain. A resilient retirement plan stress-tests income needs well above the Fed's target and fights back with pricing-power equities, reasonable bond yields, guaranteed lifetime income for core expenses, and tax mitigation that lets you keep more of every distribution.