On the Money: The Impact of a Spouse Passing

On this episode of "On the Money," Paul Ruedi, David Ruedi, CFP®, and Dr. Fred Giertz discuss direct indexing, seeking extra yield on cash, revocable trusts, and the financial impact of a spouse passing away.

 

(4:33) Political volatility

(15:18) Direct indexing

(18:29) Caller question: I have money in a checking account earning absolutely nothing. Can you tell me more about certificates of deposit?

(24:27) Caller question: I have had a money market account at a bank and didn’t know I didn’t have to keep a certain amount in there. I racked up all kinds of fees. Do they all have minimums like that?

(27:46) Caller question: If you have a revocable trusts, when you pass away, the value of the revocable trust gets stepped up in basis for tax purposes. But does that still apply if those assets are then transferred to an irrevocable trust?

(35:37) Caller comments: It is important to understand the impact of a spouse’s passing. Can you explain some of the most important things to be aware of?