• A Warning To Those Neglecting Their Estate Plans

  • Jul 18 2024
  • Length: 17 mins
  • Podcast

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A Warning To Those Neglecting Their Estate Plans

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  • Summary

  • This week’s episode serves as a warning to those neglecting their estate plans. Few stories illustrate the importance of updating beneficiary designations more poignantly than that of Jeffrey Rolison and Margaret “Peggy” Sjostedt, who dated in the 80s and broke up just a few years later. Despite their relationship ending, Jeffrey never updated the beneficiary designation on his Procter & Gamble retirement account, and Margaret stood to inherit $1 million.

    Listen in as Don shares a few things that we can learn from this unfortunate oversight…

    Here’s some of what we discuss in this episode:

    • The story of Jeffrey Rolison, who forgot to update his beneficiary designation
    • Jeffrey’s brothers nine-year legal battle to claim the retirement money
    • The importance of regularly reviewing and updating your beneficiary designations

    Wall Street Journal Article

    https://www.wsj.com/personal-finance/inherited-retirement-savings-beneficiary-breakup-divorce-849e3ff2

    Get in touch with Don and learn more: https://doncashpodcast.com/
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